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Discontinued Operations (Tables)
 6 Months Ended
Jun. 30, 2015
Discontinued Operations and Disposal Groups [Abstract]  
Disposal of Discontinued Activity

The following financial information presents the results of operations of the Advertising Business for the three and six months ended June 30, 2015.

 

     Three months ended
June 30, 2015		      Six months ended
June 30, 2015		  
  

 

 

     

 

 

  

Revenue from advertising business

    $ 162       $ 171   

Pretax loss from operations of discontinued operations

    $ (1,171 )     $ (1,262 ) 

Pretax loss on disposal of discontinued operations

      (41,471 )       (41,471 ) 

Income tax expenses

      (127 )       (127 ) 

Less: Non-controlling interests

      (1,280 )       (1,297 ) 
  

 

 

     

 

 

  

Net loss from discontinued operations

    $ (41,489 )     $ (41,563 ) 
  

 

 

     

 

 

  

Schedule of Loss on Disposal Activity

The Company recorded a loss on disposal of the Advertising Business of $41,471, the majority of which are non-cash charges, pursuant to the following:

 

Write-off of goodwill

    $ 35,472   

Write-off of intangible assets

      4,080   

Write-off of long-term deferred expenses

      517   

Lease agreement early termination expenses

      1,211   

Employee severance expenses

      191   
  

 

 

  

Loss on disposal of discontinued operations

    $ 41,471   
  

 

 

  

Assets and Liabilities Held for Sale Related to Discontinued Operations

As of June 30, 2015, the assets held for sale and liabilities held for sale in relation to the discontinued operations (reported at the lower of carrying value or fair value less costs to sell) were made up of the following items:

 

Cash and cash equivalents

    $ 72   

Accounts receivable, net

      159   

Prepaid expenses and other current assets

      211   

Property and equipment

      150   
  

 

 

  

Assets held for sale

    $ 592   
  

 

 

  

Accounts payable

    $ 423   

Accrued expenses and other payables

      312   

Acquisition consideration payable

      463   
  

 

 

  

Liabilities held for sale

    $ 1,198