v2.4.0.6
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
 6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
OPERATING ACTIVITIES:    
Net income (loss) $ (4,256) $ 49,755
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Depreciation and amortization 5,496 5,764
Amortization of deferred financing costs (including original issue discount) 2,292 1,884
Net deferred taxes (benefit) and other (5,663) (27,998)
Tax benefit on exercise of options 0 0
Provision for bad debts 33 694
Net (gain) loss on sale or disposal of assets 3 69
Non-cash stock-based compensation expense 2,718 4,666
Net (gain) loss on investments 0 0
Net (gain) loss on derivatives (1,346) 0
Deferred rent 514 61
Unearned revenue - long-term 0 5
Net (gain) loss on extinguishment of debt 0 0
Deferred compensation 724 529
Tax benefit for vesting of restricted stock unit awards 0 0
Impairment loss 22,307 0
Accretion expense, net of asset retirement obligation payments (101) 84
Other income (46) (5)
Changes in assets and liabilities:    
Accounts receivable (5,344) (4,623)
Prepaid expenses and deposits (193) (2,463)
Prepaid and refundable income taxes 256 445
Accounts payable and accrued liabilities 4,509 8,541
Accrued interest expense (623) (49)
Accrued liabilities - long-term (432) (87)
Prepaid expenses - long-term 657 152
Net cash provided by (used in) operating activities 21,505 37,424
INVESTING ACTIVITIES:    
Additions to property and equipment (962) (2,273)
Proceeds from sale of property, equipment, intangibles and other assets 19 199
Purchases of radio station assets (25,025) (9,000)
Deferred charges and other assets (722) (1,083)
Purchases of investments 0 0
Proceeds from investments and capital projects 410 5
Proceeds from termination of radio station contract 0 0
Proceeds from insurance recovery 0 0
Station acquisition deposits and costs 0 1,350
Net cash provided by (used in) investing activities (26,280) (10,802)
FINANCING ACTIVITIES:    
Deferred financing expenses related to senior unsecured notes (167) 0
Proceeds from issuance of long-term debt 29,000 22,500
Proceeds from the financing method of lease obligations 0 0
Payments of long-term debt (20,514) (47,513)
Net proceeds from the senior unsecured notes 0 0
Retirement of senior subordinated notes 0 0
Purchase of the Company's common stock 0 0
Proceeds from issuance of employee stock plan 0 0
Proceeds from the exercise of stock options 89 66
Purchase of vested employee restricted stock units (474) (2,976)
Realization of tax benefits for payment of dividend equivalents 0 0
Payment of dividend equivalents on vested restricted stock units (43) (510)
Payment of dividends 0 0
Net cash provided by (used in) financing activities 7,891 (28,433)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 3,116 (1,811)
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR 3,625 3,768
CASH AND CASH EQUIVALENTS, END OF PERIOD 6,741 1,957
Cash paid during the period for:    
Interest 25,963 9,447
Income taxes 99 82
Dividends $ 0 $ 0