v2.4.0.8
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
 9 Months Ended
Sep. 30, 2013
Sep. 30, 2012
OPERATING ACTIVITIES:    
Net income (loss) $ 16,517 $ 3,921
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Depreciation and amortization 6,557 8,242
Amortization of deferred financing costs 3,261 3,465
Net deferred taxes (benefit) and other 13,080 2,245
Tax benefit on exercise of options 0 0
Provision for bad debts 657 64
Net (gain) loss on sale or disposal of assets (1,625) 123
Non-cash stock-based compensation expense 2,980 3,982
Net (gain) loss on investments 0 50
Net (gain) loss on derivatives 0 (1,346)
Deferred rent 126 514
Unearned revenue - long-term (61) 134
Net (gain) loss on extinguishment of debt 0 0
Deferred compensation 1,587 1,400
Tax benefit for vesting of restricted stock unit awards 0 0
Impairment loss 850 22,307
Accretion expense, net of asset retirement obligation payments 16 (93)
Other income (93) (81)
Changes in assets and liabilities:    
Accounts receivable (1,216) (9,881)
Prepaid expenses and deposits (1,844) 880
Prepaid and refundable income taxes 0 264
Accounts payable and accrued liabilities 2,230 2,227
Accrued interest expense 4,311 8,319
Accrued liabilities - long-term (1,055) (839)
Prepaid expenses - long-term 200 657
Net cash provided by (used in) operating activities 46,478 46,554
INVESTING ACTIVITIES:    
Additions to property and equipment (3,502) (1,787)
Proceeds from sale of property, equipment, intangibles and other assets 8 28
Purchases of radio station assets 0 (25,325)
Deferred charges and other assets (4) (797)
Purchases of investments 0 0
Proceeds from investments and capital projects 137 444
Proceeds from termination of radio station contract 0 0
Proceeds from insurance recovery 0 0
Station acquisition deposits and costs 0 0
Net cash provided by (used in) investing activities (3,361) (27,437)
FINANCING ACTIVITIES:    
Deferred financing expenses related to the senior unsecured notes 0 (167)
Borrowing under the revolving senior debt 23,000 30,000
Proceeds from the financing method of lease obligations 0 0
Payments of long-term debt (67,523) (45,521)
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 219 120
Purchase of vested employee restricted stock units (1,167) (530)
Realization of tax benefits for payment of dividend equivalents 0 0
Payment of dividend equivalents on vested restricted stock units 0 (43)
Payment of dividends 0 0
Payments of deferred compensation 0 0
Net cash provided by (used in) financing activities (45,471) (16,141)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (2,354) 2,976
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR 8,923 3,625
CASH AND CASH EQUIVALENTS, END OF PERIOD 6,569 6,601
Cash paid during the period for:    
Interest 26,378 29,068
Income taxes 69 99
Dividends $ 0 $ 0