v2.3.0.11
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) (USD $)
In Thousands, except Share data
 3 Months Ended 6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Jun. 30, 2011
Jun. 30, 2010
Income Statement Abstract        
NET REVENUES $ 104,650 $ 105,788 $ 187,164 $ 186,622
OPERATING (INCOME) EXPENSE:        
Station operating expenses, including non-cash compensation expense 71,248 68,489 133,168 127,877
Depreciation and amortization expense 2,872 3,266 5,764 6,647
Corporate general and administrative expenses, including non-cash compensation expense 6,466 5,227 15,087 11,102
Impairment loss 0 0 0 0
Merger and acquisition costs 0 0 1,542 0
Net time brokerage agreement (income) fees 0 0 244 0
Net (gain) loss on sale or disposal of assets 49 (38) 69 (9)
Total operating expense 80,635 76,944 155,874 145,617
OPERATING INCOME (LOSS) 24,015 28,844 31,290 41,005
OTHER (INCOME) EXPENSE:        
Interest expense, including amortization of deferred financing expense 5,257 7,170 11,233 14,150
Interest and dividend income (3) (4) (7) (11)
Net (gain) loss on extinguishment of debt 0 0 0 62
Net (gain) loss on derivative instruments 0 0 0 0
Net (gain) loss on investments 0 0 0 0
Other income (5) 0 (5) (22)
TOTAL OTHER EXPENSE 5,249 7,166 11,221 14,179
INCOME (LOSS) BEFORE INCOME TAXES 18,766 21,678 20,069 26,826
INCOME TAXES (BENEFIT) (29,968) 7,416 (29,686) 8,364
NET INCOME (LOSS) $ 48,734 $ 14,262 $ 49,755 $ 18,462
NET INCOME (LOSS) PER SHARE - BASIC $ 1.34 $ 0.40 $ 1.37 $ 0.52
NET INCOME (LOSS) PER SHARE - DILUTED $ 1.29 $ 0.38 $ 1.31 $ 0.49
WEIGHTED AVERAGE SHARES:        
Basic 36,352,750 35,714,159 36,337,899 35,686,383
Diluted 37,741,589 37,581,924 37,954,596 37,678,189