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ACQUISITIONS, DIVERSTITURES AND PRO FORMA SUMMARY (Block) | 6 Months Ended
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Jun. 30, 2012
Business Combinations [Abstract] |
Mergers Acquisitions And Dispositions Disclosures Text Block | 11. ACQUISITION AND OTHER O n June 28, 2012, the Company acquired the assets of KBLX-FM, a radio station serving the San Francisco, California, radio market, for a purchase price of $25.0 million in cash, of which $7.0 million was paid from cash available from operating cash flow and $18.0 was borrowed under the Company's Revolver. T he Company commenced operations under a time brokerage agreement effective May 1, 2012. In connection with this acquisition, the Company recorded goodwill of $0.2 million, which is fully deductible for tax purposes, and indefinite lived intangible assets in the form of broadcasting licenses of $24.8 million. The acquisition of this station was not material to the Company's results of operations for any of the periods presented herein. Including this acquisition, the Company owns four radio stations serving the San Francisco radio market and one station serving the San Jose radio market. Management believes that the addition of KBLX-FM to the Company's cluster of existing stations in this market will allow the Company to compete more effectively by sharing certain synergies in sales, programming and administration.

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- Definition The entire disclosure for business combinations, including leverage buyout transactions (as applicable), and divestitures. This may include a description of a business combination or divestiture (or series of individually immaterial business combinations or divestitures) completed during the period, including background, timing, and assets and liabilities recognized and reclassified or sold. This element does not include fixed asset sales and plant closings. + References No definition available. + Details
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