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<us-gaap:BusinessCombinationDisclosureTextBlock contextRef="Context_FYE_31-Dec-2011">&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;b&gt;3.&amp;#160;&amp;#160;ACQUISITIONS:&lt;/b&gt;&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;In July 2007, the Company purchased the assets of WDBZ-AM, a radio station located in the Cincinnati metropolitan area, for approximately $2.6&amp;#160;million financed by the seller. Since August 2001 and up until closing the station had been operated under an LMA, and the results of its operations had been included in the Company&amp;#8217;s consolidated financial statements since the LMA. The station was consolidated with the Company&amp;#8217;s existing Cincinnati operations in 2001. In accordance with ASC 350, &amp;#8220;&lt;i&gt;Intangibles -Goodwill and Other&lt;/i&gt;,&amp;#8221; for the years ended 2010 and 2009, we recorded an impairment charge for&amp;#160;radio broadcasting licenses and goodwill, and intellectual property for all stations in the Cincinnati market by approximately $0 and $3.3 million, respectively. (See Note&amp;#160;5 &amp;#8212; &lt;i&gt;Goodwill&lt;/i&gt;, &lt;i&gt;Radio Broadcasting Licenses and Other Intangible Assets&lt;/i&gt; and Note 14&amp;#160;&amp;#8212; &lt;i&gt;Related Party Transactions.&lt;/i&gt;)&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;On February&amp;#160;25, 2011, TV One completed a privately placed debt offering of $119&amp;#160;million (the &amp;#8220;Redemption&amp;#160;Financing&amp;#8221;). The Redemption&amp;#160;Financing is structured as senior secured notes bearing a 10% coupon and due in 2016. Subsequently, on February&amp;#160;28, 2011, TV One utilized $82.4&amp;#160;million of the Redemption&amp;#160;Financing to repurchase 15.4% of its outstanding membership interests from certain of its financial investors and 2.0% of its outstanding membership interests held by TV One management (representing approximately 50% of interests held by management). Beginning on April 14, 2011, the Company began to account for TV One on a consolidated basis after having executed an amendment to the TV One operating agreement with the remaining members of TV One concerning certain governance issues. The Company&amp;#8217;s preliminary purchase price allocation consisted of approximately $61.2 million to current assets, $39.0 million to launch assets, $2.4 million to fixed assets, $204.1 million to indefinite-lived intangibles (goodwill and TV One brand), $287.3 million to definite-lived intangibles (content assets, acquired advertising contracts, advertiser relationships, affiliation agreements, etc.), $225.7 million to liabilities (including the $119.0 million in debt discussed above) and $203.0 million in noncontrolling interests. In accordance with accounting standards applicable to business combinations, the Company recorded the assets and liabilities of TV One at fair value as of April 14, 2011. The Company recognized an after-tax gain of approximately $146.9 million during the second quarter of 2011 associated with the transaction. The gain is computed as the difference between the carrying value of the Company&amp;#8217;s investment in TV One prior to date of consolidation and the fair value of Radio One&amp;#8217;s interest in TV One as of the consolidation date. Finally, on April&amp;#160;25, 2011, TV One utilized the balance of the Redemption&amp;#160;Financing to repurchase 12.4% of its outstanding membership interests from DIRECTV. These redemptions by TV One increased Radio One&amp;#8217;s ownership interest in TV One from 36.8% to approximately 50.9% as of April&amp;#160;25, 2011. Subsequent to April 2011, our ownership in TV One increased to approximately 51.0% after a redemption of certain management interests. Since April 14, 2011, the Company recognized approximately $86.0 million of revenue and approximately $5.5 million of net loss related to TV One operations. The net loss of TV One includes approximately $21.8 million of depreciation and amortization expense as well as approximately $8.6 million of interest expense.&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;The following unaudited pro forma summary presents consolidated information of the Company as if the consolidation of TV One had occurred on January 1, 2010. The pro forma financial information gives effect to the Company&amp;#8217;s consolidation of TV One by the application of the pro forma adjustments to the historical consolidated financial statements of the Company. Such unaudited pro forma financial information is based on the historical financial statements of the Company and TV One and certain adjustments, which the Company believes to be reasonable based on current available information, to give effect to these transactions.&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;The unaudited pro forma condensed consolidated financial information does not purport to represent what the Company&amp;#8217;s results of operations actually would have been if the consolidation of TV One had occurred on January 1, 2010, or what such results will be for any future periods. The actual results in the periods following the consolidation date may differ significantly from that reflected in the unaudited pro forma condensed consolidated financial data for a number of reasons including, but not limited to, differences between the assumptions used to prepare the unaudited pro forma condensed consolidated financial data and the actual amounts.&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&amp;#160;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;Unaudited adjustments have been made to adjust the results of TV One to reflect additional amortization expense that would have been incurred assuming the fair value adjustments to intangible assets as well as additional interest expense on the debt assumed had been applied from January 1, 2010, as well as additional pro forma adjustments, to give effect to these transactions occurring on January 1, 2010.&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;table align="center" style="width: 70%; font: 10pt times new roman, times, serif;" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="6" nowrap="nowrap"&gt;Year Ended &lt;br  /&gt;December 31,&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;2011&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;2010&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; font-weight: bold;" colspan="6" nowrap="nowrap"&gt;(Unaudited)&lt;/td&gt;
&lt;td style="font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; font-weight: bold;" colspan="6" nowrap="nowrap"&gt;(In thousands)&lt;/td&gt;
&lt;td style="font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; width: 74%;"&gt;Net revenue&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 10%;"&gt;399,894&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 10%;"&gt;387,113&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Costs and expenses, net&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;507,101&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;337,183&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Net (loss) income&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(107,207&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;49,930&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;</us-gaap:BusinessCombinationDisclosureTextBlock>
<us-gaap:DisposalGroupsIncludingDiscontinuedOperationsDisclosureTextBlock contextRef="Context_FYE_31-Dec-2011">&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;b&gt;4.&amp;#160;&amp;#160;DISPOSITION OF ASSETS AND DISCONTINUED OPERATIONS:&lt;/b&gt;&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;In December 2009, the Company ceased publication of Giant Magazine. The remaining assets and liabilities of this publication have been classified as discontinued operations as of December 31, 2011 and 2010, and the publication&amp;#8217;s results of operations for the years ended December 31, 2011, 2010 and 2009, have been classified as discontinued operations in the accompanying consolidated financial statements.&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;Between December 2006 and May 2008, the Company sold the assets of 20 radio stations in seven markets for approximately $287.9 million in cash. The remaining assets and liabilities of these stations have been classified as discontinued operations as of December 31, 2011 and 2010, and the stations&amp;#8217; results of operations for the years ended December 31, 2011, 2010 and 2009, have been classified as discontinued operations in the accompanying consolidated financial statements.&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;i&gt;Boston Station: &lt;/i&gt;As of June 2011, our remaining Boston radio station was made the subject of an LMA.&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;The following table summarizes the operating results for Giant Magazine and all of the stations sold or stations that we do not operate that are the subject of an LMA and classified as discontinued operations for all periods presented:&lt;/p&gt;
&lt;p style="text-align: left; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;table style="width: 100%; font: 10pt times new roman, times, serif;" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="10" nowrap="nowrap"&gt;For the Years Ended&lt;br  /&gt;December&amp;#160;31,&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;2011&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;2010&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;2009&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;" colspan="2" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center;" colspan="6" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; font-weight: bold;" colspan="10" nowrap="nowrap"&gt;(In thousands)&lt;/td&gt;
&lt;td style="font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; width: 61%;"&gt;Net revenue&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 10%;"&gt;62&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 10%;"&gt;180&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 10%;"&gt;1,982&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Operating expenses&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;239&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;475&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;3,229&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Depreciation and amortization&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;73&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;56&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;134&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Interest income&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(210&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Loss on investment&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;448&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;Gain (loss) on sale of assets&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;20&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;(12&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;(156&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Loss before income taxes&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(20&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(363&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(1,985&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;Provision for income taxes&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;Loss from discontinued operations, net of tax&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;(20&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;(363&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;(1,985&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="text-align: left; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;The assets and liabilities of Giant Magazine and the stations sold or stations that we do not operate that are the subject of an LMA are classified as discontinued operations in the accompanying consolidated balance sheets and consisted of the following:&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;table style="width: 100%; font: 10pt times new roman, times, serif;" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="6" nowrap="nowrap"&gt;As of December&amp;#160;31,&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;2011&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;2010&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;" colspan="2" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center;" colspan="2" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; font-weight: bold;" colspan="6" nowrap="nowrap"&gt;(In thousands)&lt;/td&gt;
&lt;td style="font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Currents assets:&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; width: 74%;"&gt;Accounts receivable, net of allowance for doubtful accounts&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right; width: 10%;"&gt;89&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right; width: 10%;"&gt;159&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Total current assets&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;89&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;159&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Property and equipment, net&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;274&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;422&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Intangible assets, net&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;1,202&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;1,202&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;Total assets&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;1,565&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;1,783&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Current liabilities:&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;Other current liabilities&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;260&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;34&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Total current liabilities&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;260&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;34&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;Long-term liabilities&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;29&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;37&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;Total liabilities&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;289&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;71&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="text-align: left; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
</us-gaap:DisposalGroupsIncludingDiscontinuedOperationsDisclosureTextBlock>
<us-gaap:PropertyPlantAndEquipmentDisclosureTextBlock contextRef="Context_FYE_31-Dec-2011">&lt;p style="text-align: left; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;b&gt;5.&amp;#160;&amp;#160;PROPERTY AND EQUIPMENT:&lt;/b&gt;&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;Property and equipment are carried at cost less accumulated depreciation and amortization. Depreciation is calculated using the straight-line method over the related estimated useful lives. Property and equipment consists of the following:&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;table style="width: 100%; font: 10pt times new roman, times, serif;" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="6" nowrap="nowrap"&gt;As of December&amp;#160;31,&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; padding-bottom: 1pt; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;Estimated&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;2011&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;2010&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;Useful Lives&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;" colspan="2" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center;" colspan="2" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;" colspan="2" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; font-weight: bold;" colspan="6" nowrap="nowrap"&gt;(In thousands)&lt;/td&gt;
&lt;td style="font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;" colspan="2" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; width: 61%;"&gt;Land and improvements&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 10%;"&gt;3,777&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 10%;"&gt;3,765&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; width: 10%;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Buildings and improvements&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;1,575&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;1,566&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center;"&gt;31 years&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Transmitters and towers&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;35,735&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;34,949&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center;"&gt;7-15 years&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Equipment&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;47,304&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;44,011&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center;"&gt;3-7 years&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Furniture and fixtures&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;7,098&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;7,023&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center;"&gt;7 years&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Software and web development&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;14,037&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;12,214&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center;"&gt;3 years&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Leasehold improvements&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;19,139&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;18,625&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center;"&gt;Lease Term&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;Construction-in-progress&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;1,116&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;307&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; padding-bottom: 1pt;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;129,781&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;122,460&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; text-indent: -9pt;"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Less: Accumulated depreciation and amortization&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;(95,793&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;(89,419&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt; text-indent: -9pt;"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Property and equipment, net&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;33,988&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;33,041&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="text-align: left; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;Depreciation and amortization expense for the years ended December&amp;#160;31, 2011, 2010 and 2009 was approximately $37.1 million, $17.4 million and $21.0 million, respectively.&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;Repairs and maintenance costs are expensed as incurred.&lt;/p&gt;</us-gaap:PropertyPlantAndEquipmentDisclosureTextBlock>

<roia:ContentAssetsTextBlock contextRef="Context_FYE_31-Dec-2011">&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;b&gt;7.&amp;#160;&amp;#160;CONTENT ASSETS:&lt;/b&gt;&lt;/p&gt;
&lt;p style="text-align: left; background-color: white; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;TV One has entered into contracts to acquire entertainment programming rights and programs from distributors and producers. The license periods granted in these contracts generally run from one year to perpetuity. Contract payments are made in installments over terms that are generally shorter than the contract period. Each contract is recorded as an asset and a liability at an amount equal to its gross contractual commitment when the license period begins and the program is available for its first airing.&lt;/p&gt;
&lt;p style="text-align: left; background-color: white; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="text-align: justify; background-color: white; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;The gross value and accumulated amortization of the content assets is as follows: &lt;/font&gt;&lt;/p&gt;
&lt;p style="text-align: justify; background-color: white; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;table style="width: 100%; font: 10pt times new roman, times, serif;" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2"&gt;December&amp;#160;31,&amp;#160;2011&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;"&gt;Period&amp;#160;of&amp;#160;Amortization&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; font-weight: bold;" colspan="2"&gt;(In&amp;#160;thousands)&lt;/td&gt;
&lt;td style="font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; width: 56%;"&gt;Content assets&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 18%;"&gt;95,527&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; width: 22%;"&gt;1-8 Years&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;Less: Accumulated amortization&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;(31,539&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;Content assets, net&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;63,988&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="text-align: left; background-color: white; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; background-color: white; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;Future estimated content amortization expense related to agreements entered into as of December 31, 2011 for years 2012 through 2016 is as follows:&lt;/font&gt;&lt;/p&gt;
&lt;p style="text-align: justify; background-color: white; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;table style="width: 100%; font: 10pt times new roman, times, serif;" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;
&lt;td style="font-weight: bold;"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;
&lt;td style="text-align: center;" colspan="2"&gt;&lt;b&gt;(In&amp;#160;thousands)&lt;/b&gt;&lt;/td&gt;
&lt;td&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; width: 82%;"&gt;2012&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;$&lt;/td&gt;
&lt;td style="text-align: right; width: 15%;"&gt;27,383&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;2013&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;$&lt;/td&gt;
&lt;td style="text-align: right;"&gt;17,633&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;2014&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;$&lt;/td&gt;
&lt;td style="text-align: right;"&gt;9,892&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;2015&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;$&lt;/td&gt;
&lt;td style="text-align: right;"&gt;4,011&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;2016&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;$&lt;/td&gt;
&lt;td style="text-align: right;"&gt;1,694&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="text-align: left; background-color: white; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;</roia:ContentAssetsTextBlock>
<us-gaap:EquityMethodInvestmentsDisclosureTextBlock contextRef="Context_FYE_31-Dec-2011">&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;b&gt;8.&amp;#160;&amp;#160;INVESTMENT IN AFFILIATED COMPANY:&lt;/b&gt;&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; background-color: white; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white; color: black; font-size: 10pt;"&gt;In January 2004, the Company, together with an affiliate of Comcast Corporation and other investors, launched TV One, an entity formed to operate a cable television network featuring lifestyle, entertainment and news-related programming targeted primarily towards African-American viewers. At that time, we committed to make a cumulative cash investment of $74.0&amp;#160;million in TV One, of which $60.3&amp;#160;million had been funded as of April 30, 2007. Since December 31, 2006, the initial four year commitment period for funding the capital had been extended on a quarterly basis, due in part to TV One&amp;#8217;s lower than anticipated capital needs. In connection with the Redemption Financing (as defined in Note&amp;#160;2&amp;#160;&amp;#8212; &lt;i&gt;Acquisitions&lt;/i&gt;), we funded our remaining capital commitment amount of approximately $13.7 million on April 19, 2011 and currently anticipate no further capital commitment. In December 2004, TV One entered into a distribution agreement with DIRECTV and certain affiliates of DIRECTV became investors in TV One.&lt;/font&gt; &lt;font style="font-size: 10pt;"&gt;As of December 31, 2011 and 2010, the Company owned approximately 51.0% and 37%, respectively, of TV One on a fully-converted basis.&lt;/font&gt;&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white; color: black;"&gt;On February&amp;#160;25, 2011, TV One completed its $119&amp;#160;million Redemption&amp;#160;Financing. The Redemption&amp;#160;Financing is structured as senior secured notes bearing a 10% coupon and is due in 2016. Subsequently, on February&amp;#160;28, 2011, TV One utilized $82.4&amp;#160;million of the Redemption&amp;#160;Financing to repurchase 15.4% of its outstanding membership interests from certain financial investors and 2.0% of its outstanding membership interests held by TV One management (representing approximately 50% of interests held by management). &lt;/font&gt;Beginning on April 14, 2011, the Company began to account for TV One on a consolidated basis after having executed an amendment to the TV One operating agreement with the remaining members of TV One concerning certain governance issues. &lt;font style="background-color: white; color: black;"&gt;Finally, on April&amp;#160;25, 2011, TV One utilized the balance of the Redemption&amp;#160;Financing to repurchase 12.4% of its outstanding membership interests from DIRECTV. These redemptions by TV One, increased Radio One&amp;#8217;s holding in TV One from 36.8% to approximately 50.9% as of April&amp;#160;25, 2011. &lt;/font&gt;Subsequent to April 2011, our ownership in TV One increased to approximately 51.0% after a further redemption of certain management interests.&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;Prior to the consolidation date, &lt;font style="background-color: white; color: black;"&gt;the Company recorded its investment at cost and had adjusted its carrying amount of the investment to recognize the change in the Company&amp;#8217;s claim on the net assets of TV One resulting from operating income or losses of TV One as well as other capital transactions of TV One using a hypothetical liquidation at book value approach. At December 31, 2010, the carrying value of the Company&amp;#8217;s investment in TV One was approximately $47.5 million and is presented on the consolidated balance sheet as investment in affiliated company. On April 14, 2011, &lt;/font&gt;the Company began to account for TV One on a consolidated basis and the basis of the assets and liabilities of TV One at that date were recorded at fair value. For the period January 1, 2011 to April 14, 2011 and for the years ended December 31, 2010 and 2009, the Company&amp;#8217;s allocable share of TV One&amp;#8217;s operating income was $3.3 million, $5.6 million and $3.7 million, respectively.&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; background-color: white; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;We entered into separate network services and advertising services agreements with TV One in 2003. Under the network services agreement, we provided TV One with administrative and operational support services and access to Radio One personalities. In consideration of providing these services, we received equity in TV One, and received an annual cash fee of $500,000. The network services agreement, originally scheduled to expire in January 2009 was extended to January 2011, at which time it expired. &lt;/font&gt;&lt;/p&gt;
&lt;p style="text-align: justify; background-color: white; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white; color: black; font-size: 10pt;"&gt;Under an advertising services agreement, we provided a specified amount of advertising to TV One. Prior to the consolidation date, the Company was accounting for the services provided to TV One under the advertising services agreement in accordance with ASC 505-50-30, &amp;#8220;&lt;i&gt;Equity&lt;/i&gt;.&amp;#8221; &amp;#160;As services were provided to TV One, the Company recorded revenue based on the fair value of the most reliable unit of measurement in these transactions. The most reliable unit of measurement had been determined to be the value of underlying advertising time that was provided to TV One. &lt;/font&gt;The Company recognized&amp;#160;$2.0 million, $1.8 million, and $2.3 million in revenue relating to these two agreements for the years ended December 31, 2011, 2010 and 2009, respectively. &lt;font style="background-color: white; color: black;"&gt;The advertising services agreement was also originally scheduled to expire in January 2009 and was&amp;#160;extended to January 2011, at which time it expired. However, we entered into a new advertising services agreement with TV One with an effective date of January 2011. Under the new advertising services agreement, we (i) provide advertising services to TV One on certain of our media properties and (ii) act as media placement agent for TV One in certain instances. In return for such services, TV One pays us for such advertising time and services and&lt;/font&gt;,&lt;font style="font-size: 10pt;"&gt; where we act as media placement agent&lt;/font&gt;,&lt;font style="font-size: 10pt;"&gt; pays us a media placement fee equal to the lesser of 15% of media placement costs or a market rate, in addition to reimbursing us (or paying in advance) for all actual costs associated with the media placement services. &lt;/font&gt;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; background-color: white; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;Summarized audited financial information for our significant equity investment (prior to consolidation) is reported below (in thousands, amounts represent 100% of investee financial information):&lt;/font&gt;&lt;/p&gt;
&lt;p style="text-align: justify; background-color: white; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; background-color: white; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;/p&gt;
&lt;table style="width: 100%; font: 10pt times new roman, times, serif;" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: center; font-weight: bold;"&gt;Statement of Operations&lt;/td&gt;
&lt;td style="font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; font-weight: bold;" colspan="2"&gt;Year Ended December 31, 2010&lt;/td&gt;
&lt;td style="font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; font-weight: bold;" colspan="2"&gt;Year Ended December 31, 2009&lt;/td&gt;
&lt;td style="font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; font-weight: bold;" colspan="2"&gt;(In thousands)&lt;/td&gt;
&lt;td style="font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; font-weight: bold;" colspan="2"&gt;(In thousands)&lt;/td&gt;
&lt;td style="font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; width: 40%;"&gt;Net revenue&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 27%;"&gt;107,268&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 27%;"&gt;89,690&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;Costs and expenses&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;" nowrap="nowrap"&gt;87,648&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;78,151&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;Earnings from continuing operations&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;19,620&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;11,539&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;Net income&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;19,620&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;11,539&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="margin: 0px;"&gt;&amp;#160;&lt;/p&gt;
&lt;table style="width: 100%; font: 10pt times new roman, times, serif;" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: center; font-weight: bold;"&gt;Balance Sheet&lt;/td&gt;
&lt;td style="font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; font-weight: bold;" colspan="2"&gt;As of December 31, 2010&lt;/td&gt;
&lt;td style="font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; font-weight: bold;" colspan="2"&gt;As of December 31, 2009&lt;/td&gt;
&lt;td style="font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;(In thousands)&lt;/td&gt;
&lt;td style="font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; font-weight: bold;" colspan="2"&gt;(In thousands)&lt;/td&gt;
&lt;td style="font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; width: 40%;"&gt;Current assets&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 27%;"&gt;45,074&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 27%;"&gt;44,451&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td&gt;Non-current assets&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;116,901&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;125,131&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Current liabilities&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;112,894&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;31,672&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td&gt;Non-current liabilities&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;24,899&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;38,271&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td&gt;Equity&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right;"&gt;24,182&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right;"&gt;99,639&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="text-align: justify; background-color: white; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;/p&gt;
&lt;p style="text-align: left; background-color: white; margin: 0pt 0px; font: 10pt times new roman, times, serif; color: red;"&gt;&amp;#160;&lt;/p&gt;
</us-gaap:EquityMethodInvestmentsDisclosureTextBlock>
<roia:InvestmentsTextBlock contextRef="Context_FYE_31-Dec-2011">&lt;div&gt;&lt;font size="2" style="font-family:times new roman,times"&gt;&lt;strong&gt;9.&amp;#160;&amp;#160;INVESTMENTS&lt;/strong&gt;&lt;/font&gt;&lt;/div&gt;
&lt;p style="text-align: left; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font size="2" style="font-family:times new roman,times"&gt;&lt;strong&gt;&amp;#160;&lt;/strong&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="text-align: left; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;The Company&amp;#8217;s investments (short-term and long-term) consist of the following:&lt;/p&gt;
&lt;p style="text-align: left; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;table style="width: 100%; font: 10pt times new roman, times, serif;" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2"&gt;Amortized&amp;#160;Cost&lt;br  /&gt;Basis&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2"&gt;Gross &lt;br  /&gt;Unrealized &lt;br  /&gt;Losses&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2"&gt;Gross &lt;br  /&gt;Unrealized &lt;br  /&gt;Gains&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2"&gt;Fair &lt;br  /&gt;Value&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center;" colspan="14"&gt;(In&amp;#160;thousands)&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; font-weight: bold;"&gt;December 31, 2011&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; width: 28%;"&gt;Corporate debt securities&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 15%;"&gt;7,376&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 15%;"&gt;(264&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;)&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 15%;"&gt;66&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 15%;"&gt;7,178&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;Government sponsored enterprise mortgage-backed securities&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;1,012&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;(2&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;1&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;1,011&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;Total investments&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;8,388&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;(266&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;67&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;8,189&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="text-align: left; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;The following tables show the gross unrealized losses and fair value of the Company&amp;#8217;s investments with unrealized losses that are not deemed to be other-than-temporarily impaired, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position:&lt;/font&gt;&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;table style="width: 100%; font: 10pt times new roman, times, serif;" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2"&gt;Fair &lt;br  /&gt;Value &lt;br  /&gt;&amp;lt;&amp;#160;1&amp;#160;Year&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2"&gt;Unrealized &lt;br  /&gt;Losses &lt;br  /&gt;&amp;lt;&amp;#160;1&amp;#160;Year&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2"&gt;Fair &lt;br  /&gt;Value&amp;#160; &lt;br  /&gt;&amp;gt;&amp;#160;1&amp;#160;Year&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2"&gt;Unrealized &lt;br  /&gt;Losses &lt;br  /&gt;&amp;gt;&amp;#160;1&amp;#160;Year&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2"&gt;Total &lt;br  /&gt;Unrealized &lt;br  /&gt;Losses&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center;" colspan="18"&gt;(In&amp;#160;thousands)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; font-weight: bold;"&gt;December 31, 2011&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; width: 25%;"&gt;Corporate debt securities&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 12%;"&gt;2,760&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 12%;"&gt;(178&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;)&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 12%;"&gt;1,693&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 12%;"&gt;(86&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;)&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 12%;"&gt;(264&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;Government sponsored enterprise mortgage-backed securities&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;400&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;(2&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;0&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;0&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;(2&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;Total investments&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;3,160&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;(180&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;1,693&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;(86&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;(266&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="text-align: left; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;The Company&amp;#8217;s investments in debt securities are sensitive to interest rate fluctuations, which impact the fair value of individual securities. The Company has analyzed the unrealized losses on the 65 securities that were in an unrealized loss position as of December 31, 2011, and believe that they do not meet the criteria for an other-than-temporary-impairment. The Company has not decided to sell the affected securities and it is not more likely than not that the Company will be required to sell before a recovery of the amortized cost of the affected securities. However, given the judgmental nature of the Company&amp;#8217;s analysis, there is a continuing risk that further declines in fair value may occur. These declines could result in other-than-temporary-impairment losses in future periods.&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;The amortized cost and estimated fair value of debt securities at December 31, 2011, by contractual maturity, are shown below. Actual maturities may differ from contractual maturities of mortgage-backed securities because borrowers have the right to call or prepay obligations with or without call or prepayment penalties.&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;table style="width: 95%; font: 10pt times new roman, times, serif; margin-left: 0.3in;" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2"&gt;Amortized&amp;#160;Cost &lt;br  /&gt;Basis&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2"&gt;Fair&amp;#160;Value&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center;" colspan="6"&gt;(In&amp;#160;thousands)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; width: 64%;"&gt;Within 1 year&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 15%;"&gt;790&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 15%;"&gt;768&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;After 1 year through 5&amp;#160;years&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;3,817&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;3,658&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;After 5 years through 10&amp;#160;years&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;2,021&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;2,018&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;After 10 years&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;748&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;734&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;Mortgage-backed securities&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;1,012&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;1,011&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;Total&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;8,388&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;8,189&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="text-align: left; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;A primary objective in the management of the fixed maturity portfolios is to maximize total return relative to underlying liabilities and respective liquidity needs. In achieving this goal, assets may be sold to take advantage of market conditions or other investment opportunities, as well as tax considerations. Sales will generally produce realized gains or losses. In the ordinary course of business, the Company may sell securities for a number of reasons, including, but not limited to: (i) changes to the investment environment; (ii) expectation that the fair value could deteriorate further; (iii) desire to reduce exposure to an issuer or an industry; (iv) changes in credit quality; and (v) changes in expected cash flow. Available-for-sale securities were sold as follows:&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;table align="center" style="width: 70%; font: 10pt times new roman, times, serif;" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2"&gt;Year Ended December 31, 2011&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center;" colspan="2"&gt;(In thousands)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; width: 72%;" nowrap="nowrap"&gt;Proceeds from sales&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 25%;"&gt;30,449&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Gross realized gains&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;31&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Gross realized losses&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(311&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;</roia:InvestmentsTextBlock>
<roia:OtherCurrentLiabilitiesDisclosureTextBlock contextRef="Context_FYE_31-Dec-2011">&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;b&gt;10.&amp;#160;&amp;#160;OTHER CURRENT LIABILITIES:&lt;/b&gt;&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;Other current liabilities consist of the following:&lt;/p&gt;
&lt;p style="text-align: left; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;table style="width: 100%; font: 10pt times new roman, times, serif;" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="6"&gt;As&amp;#160;of&amp;#160;December&amp;#160;31,&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2"&gt;2011&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2"&gt;2010&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; font-weight: bold;" colspan="6"&gt;(In&amp;#160;thousands)&lt;/td&gt;
&lt;td style="font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; width: 70%;"&gt;Deferred revenue&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 12%;"&gt;5,157&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 12%;"&gt;6,389&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Deferred barter revenue&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;1,427&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;1,204&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Deferred contract&amp;#160;credits&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;237&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Deferred rent&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;339&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;360&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Accrued national representative fees&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;613&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;589&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Accrued miscellaneous taxes&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;689&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;492&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;Other current liabilities&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;4,002&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;2,433&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;Other current liabilities&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;12,227&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;11,704&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="text-align: left; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;</roia:OtherCurrentLiabilitiesDisclosureTextBlock>
<us-gaap:DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock contextRef="Context_FYE_31-Dec-2011">&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;b&gt;11.&amp;#160;&amp;#160;DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES:&lt;/b&gt;&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;ASC 815, &lt;i&gt;&amp;#8220;Derivatives and Hedging,&amp;#8221;&lt;/i&gt; establishes disclosure requirements related to derivative instruments and hedging activities&amp;#160;with the intent to provide users of financial statements with an enhanced understanding of: (a) how and why an entity uses derivative instruments; (b) how derivative instruments and related hedged items are accounted for and its related interpretations; and (c) how derivative instruments and related hedged items affect an entity&amp;#8217;s financial position, financial performance, and cash flows. ASC 815 requires qualitative disclosures about objectives and strategies for using derivatives, quantitative disclosures about the fair value of&amp;#160;gains and losses on derivative instruments, and disclosures about credit-risk-related contingent features in derivative instruments.&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;The fair values and the presentation of the Company&amp;#8217;s derivative instruments in the consolidated balance sheet are as follows:&amp;#160;&lt;/p&gt;
&lt;p style="text-align: left; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;table style="width: 100%; font: 10pt times new roman, times, serif;" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: center; padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; padding-bottom: 1pt; font-weight: bold;" colspan="10"&gt;Liability&amp;#160;Derivatives&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: center; padding-bottom: 1pt; font-weight: bold;"&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; padding-bottom: 1pt; font-weight: bold;" colspan="4"&gt;&lt;b&gt;As&amp;#160;of&amp;#160;December 31,&amp;#160;2011&lt;/b&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center;" colspan="4"&gt;&lt;b&gt;As&amp;#160;of&amp;#160;December&amp;#160;31,&amp;#160;2010&amp;#160;&lt;/b&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: center; font-weight: bold;"&gt;&lt;/td&gt;
&lt;td&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;
&lt;td style="text-align: center;" colspan="10"&gt;&lt;b&gt;(In thousands)&amp;#160;&lt;/b&gt;&lt;/td&gt;
&lt;td&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: center; padding-bottom: 1pt; font-weight: bold;"&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;"&gt;&lt;b&gt;Balance&amp;#160;Sheet &lt;br  /&gt;Location&lt;/b&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2"&gt;&lt;b&gt;Fair &lt;br  /&gt;Value&lt;/b&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;"&gt;&lt;b&gt;Balance&amp;#160;Sheet &lt;br  /&gt;Location&lt;/b&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center;" colspan="2"&gt;&lt;b&gt;&amp;#160;Fair &lt;br  /&gt;Value&lt;/b&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; font-weight: bold; text-decoration: underline;"&gt;Derivatives designated as hedging instruments:&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; width: 32%; vertical-align: top;"&gt;Interest rate swaps&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; padding-left: 0px; width: 15%;"&gt;Other Long-Term Liabilities&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 15%;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 15%;"&gt;Other Long-Term Liabilities&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 15%;"&gt;1,426&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; font-weight: bold; text-decoration: underline;"&gt;Derivatives not designated as hedging instruments:&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; vertical-align: top;"&gt;Employment agreement award&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; padding-left: 0px;"&gt;Other Long-Term Liabilities&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;10,346&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;Other Long-Term Liabilities&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;6,824&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt; padding-left: 0.12in;"&gt;Total derivatives&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; padding-bottom: 2.5pt;"&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;10,346&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;8,250&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="text-align: center; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;The effect and the presentation of the Company&amp;#8217;s derivative instruments on the consolidated statement of operations are as follows:&lt;/p&gt;
&lt;p style="text-align: left; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&amp;#160;&lt;/p&gt;
&lt;table style="width: 100%; font: 10pt times new roman, times, serif;" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: center; font-weight: bold;"&gt;&lt;font style="font-size: 8pt;"&gt;Derivatives&amp;#160;in &lt;br  /&gt;Cash&amp;#160;Flow &lt;br  /&gt;Hedging &lt;br  /&gt;Relationships&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-weight: bold;"&gt;&lt;font style="font-size: 8pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: center; font-weight: bold;" colspan="10"&gt;&lt;font style="font-size: 8pt;"&gt;Amount&amp;#160;of&amp;#160;Gain &lt;br  /&gt;(Loss)&amp;#160;in&amp;#160;Other &lt;br  /&gt;Comprehensive &lt;br  /&gt;Income&amp;#160;on &lt;br  /&gt;Derivative&amp;#160;(Effective &lt;br  /&gt;Portion)&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-weight: bold;"&gt;&lt;font style="font-size: 8pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-weight: bold;"&gt;&lt;font style="font-size: 8pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: center; font-weight: bold;" colspan="13"&gt;&lt;font style="font-size: 8pt;"&gt;Gain&amp;#160;(Loss)&amp;#160;Reclassified&amp;#160;from &lt;br  /&gt;Accumulated&amp;#160;Other&amp;#160;Comprehensive &lt;br  /&gt;Loss&amp;#160;into&amp;#160;Income&amp;#160;(Effective &lt;br  /&gt;Portion)&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-weight: bold;"&gt;&lt;font style="font-size: 8pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: center; font-weight: bold;" colspan="10"&gt;&lt;font style="font-size: 8pt;"&gt;Gain&amp;#160;(Loss)&amp;#160;in&amp;#160;Income&amp;#160;(Ineffective &lt;br  /&gt;Portion&amp;#160;and&amp;#160;Amount&amp;#160;Excluded&amp;#160;from &lt;br  /&gt;Effectiveness&amp;#160;Testing)&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: center;"&gt;&lt;font style="font-size: 8pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&lt;font style="font-size: 8pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="10"&gt;&lt;font style="font-size: 8pt;"&gt;Amount&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&lt;font style="font-size: 8pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&lt;font style="font-size: 8pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;"&gt;&lt;font style="font-size: 8pt;"&gt;Location&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&lt;font style="font-size: 8pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="10"&gt;&lt;font style="font-size: 8pt;"&gt;Amount&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&lt;font style="font-size: 8pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&lt;font style="font-size: 8pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;"&gt;&lt;font style="font-size: 8pt;"&gt;Location&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&lt;font style="font-size: 8pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="8"&gt;&lt;font style="font-size: 8pt;"&gt;Amount&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: center;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; padding-bottom: 1pt; font-weight: bold;" colspan="36"&gt;&lt;font style="font-size: 8pt;"&gt;For&amp;#160;the&amp;#160;Years&amp;#160;Ended&amp;#160;December&amp;#160;31,&lt;/font&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: center;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; padding-bottom: 1pt; font-weight: bold;" colspan="36"&gt;&lt;font style="font-size: 8pt;"&gt;(In&amp;#160;thousands)&lt;/font&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: center;"&gt;&lt;font style="font-size: 8pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: center; padding-bottom: 1pt; font-weight: bold;"&gt;&lt;font style="font-size: 8pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2"&gt;&lt;font style="font-size: 8pt;"&gt;2011&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: center; padding-bottom: 1pt; font-weight: bold;"&gt;&lt;font style="font-size: 8pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: center; padding-bottom: 1pt; font-weight: bold;"&gt;&lt;font style="font-size: 8pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2"&gt;&lt;font style="font-size: 8pt;"&gt;2010&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: center; padding-bottom: 1pt; font-weight: bold;"&gt;&lt;font style="font-size: 8pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: center; padding-bottom: 1pt; font-weight: bold;"&gt;&lt;font style="font-size: 8pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2"&gt;&lt;font style="font-size: 8pt;"&gt;2009&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: center; padding-bottom: 1pt; font-weight: bold;"&gt;&lt;font style="font-size: 8pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: center; padding-bottom: 1pt;"&gt;&lt;font style="font-size: 8pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: center;"&gt;&lt;font style="font-size: 8pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: center; padding-bottom: 1pt; font-weight: bold;"&gt;&lt;font style="font-size: 8pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2"&gt;&lt;font style="font-size: 8pt;"&gt;2011&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: center; padding-bottom: 1pt; font-weight: bold;"&gt;&lt;font style="font-size: 8pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: center; padding-bottom: 1pt; font-weight: bold;"&gt;&lt;font style="font-size: 8pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2"&gt;&lt;font style="font-size: 8pt;"&gt;2010&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: center; padding-bottom: 1pt; font-weight: bold;"&gt;&lt;font style="font-size: 8pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: center; padding-bottom: 1pt; font-weight: bold;"&gt;&lt;font style="font-size: 8pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2"&gt;&lt;font style="font-size: 8pt;"&gt;2009&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: center; padding-bottom: 1pt; font-weight: bold;"&gt;&lt;font style="font-size: 8pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: center; padding-bottom: 1pt;"&gt;&lt;font style="font-size: 8pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: center;"&gt;&lt;font style="font-size: 8pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: center; padding-bottom: 1pt; font-weight: bold;"&gt;&lt;font style="font-size: 8pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2"&gt;&lt;font style="font-size: 8pt;"&gt;2011&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: center; padding-bottom: 1pt; font-weight: bold;"&gt;&lt;font style="font-size: 8pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2"&gt;&lt;font style="font-size: 8pt;"&gt;2010&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: center; padding-bottom: 1pt; font-weight: bold;"&gt;&lt;font style="font-size: 8pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2"&gt;&lt;font style="font-size: 8pt;"&gt;2009&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; width: 21%;"&gt;&lt;font style="font-size: 8pt;"&gt;Interest rate swaps&lt;/font&gt;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&lt;font style="font-size: 8pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&lt;font style="font-size: 8pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; width: 5%;"&gt;&lt;font style="font-size: 8pt;"&gt;1,426&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&lt;font style="font-size: 8pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&lt;font style="font-size: 8pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&lt;font style="font-size: 8pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; width: 5%;"&gt;&lt;font style="font-size: 8pt;"&gt;662&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&lt;font style="font-size: 8pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&lt;font style="font-size: 8pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&lt;font style="font-size: 8pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; width: 5%;"&gt;&lt;font style="font-size: 8pt;"&gt;895&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&lt;font style="font-size: 8pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&lt;font style="font-size: 8pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: center; width: 5%;"&gt;&lt;font style="font-size: 8pt;"&gt;Interest expense&lt;/font&gt;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&lt;font style="font-size: 8pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&lt;font style="font-size: 8pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; width: 5%;"&gt;&lt;font style="font-size: 8pt;"&gt;(258&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&lt;font style="font-size: 8pt;"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&lt;font style="font-size: 8pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&lt;font style="font-size: 8pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; width: 5%;"&gt;&lt;font style="font-size: 8pt;"&gt;(1,510&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&lt;font style="font-size: 8pt;"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&lt;font style="font-size: 8pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&lt;font style="font-size: 8pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; width: 5%;"&gt;&lt;font style="font-size: 8pt;"&gt;(1,749&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&lt;font style="font-size: 8pt;"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&lt;font style="font-size: 8pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: center; width: 5%;"&gt;&lt;font style="font-size: 8pt;"&gt;Interest expense&lt;/font&gt;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&lt;font style="font-size: 8pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&lt;font style="font-size: 8pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; width: 4%;"&gt;&lt;font style="color: black; font-size: 8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&lt;font style="font-size: 8pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&lt;font style="font-size: 8pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; width: 4%;"&gt;&lt;font style="color: black; font-size: 8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&lt;font style="font-size: 8pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: center; width: 1%;"&gt;&lt;font style="font-size: 8pt;"&gt;$&lt;font style="color: black;"&gt;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; width: 4%;"&gt;&amp;#8212;&amp;#160;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="text-align: left; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: left; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;table style="width: 100%; font: 10pt times new roman, times, serif;" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; padding-bottom: 1pt; font-weight: bold;"&gt;Derivatives&amp;#160;Not&amp;#160;Designated &lt;br  /&gt;as&amp;#160;Hedging&amp;#160;Instruments&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;"&gt;Location&amp;#160;of&amp;#160;Gain &lt;br  /&gt;(Loss) &lt;br  /&gt;in&amp;#160;Income&amp;#160;of&amp;#160;Derivative&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; padding-bottom: 1pt; font-weight: bold;" colspan="10"&gt;Amount&amp;#160;of&amp;#160;Gain&amp;#160;(Loss) &lt;br  /&gt;in&amp;#160;Income&amp;#160;of&amp;#160;Derivative&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: center; padding-bottom: 1pt; font-weight: bold;"&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;
&lt;td&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center;" colspan="10"&gt;&lt;b&gt;For the Years Ended December 31,&lt;/b&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;
&lt;td&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2"&gt;&lt;b&gt;2011&lt;/b&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2"&gt;&lt;b&gt;2010&lt;/b&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2"&gt;&lt;b&gt;2009&lt;/b&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: center; font-weight: bold;"&gt;&lt;/td&gt;
&lt;td&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;
&lt;td&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;
&lt;td&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;
&lt;td style="text-align: center;" colspan="10"&gt;&lt;b&gt;(In thousands)&lt;/b&gt;&lt;/td&gt;
&lt;td&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: center; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center;" colspan="10"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; width: 29%;"&gt;Employment agreement award&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; padding-left: 0px; width: 25%;"&gt;Corporate selling, general and administrative expense&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right; width: 12%;"&gt;(3,522&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; width: 1%;"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right; width: 12%;"&gt;(2,167&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; width: 1%;"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right; width: 12%;"&gt;(331&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; width: 1%;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="text-align: center; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;b&gt;&lt;i&gt;Hedging Activities&lt;/i&gt;&lt;/b&gt;&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; background-color: white; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;In June 2005, pursuant to our Previous Credit Agreement (as defined in Note&amp;#160;11&amp;#160;&amp;#8212; &lt;i&gt;Long-Term Debt&lt;/i&gt;), the Company entered into four fixed rate swap agreements to reduce interest rate fluctuations on certain floating rate debt commitments.&amp;#160;One of the four $25.0 million swap agreements expired in each of June 2007 and 2008, and 2010, respectively. The remaining $25.0 million swap agreement was terminated on March 31, 2011 in conjunction with the March 31, 2011 retirement of our Previous Credit Agreement.&amp;#160; We have no swap agreements in connection with our current credit facilities.&lt;/font&gt;&lt;/p&gt;
&lt;p style="text-align: justify; background-color: white; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="text-align: justify; background-color: white; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;Each swap agreement had been accounted for as a qualifying cash flow hedge of the Company&amp;#8217;s senior bank debt, in accordance with ASC 815&lt;i&gt;,&lt;/i&gt;&amp;#160;&lt;i&gt;&amp;#8220;Derivatives and Hedging,&amp;#8221;&lt;/i&gt; whereby changes in the fair market value are reflected as adjustments to the fair value of the derivative instruments as reflected on the accompanying consolidated financial statements.&lt;/font&gt;&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; background-color: white; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;The Company&amp;#8217;s objectives in using interest rate swaps were to manage interest rate risk associated with the Company&amp;#8217;s floating rate debt commitments and to add stability to future cash flows. To accomplish this objective, the Company used interest rate swaps as part of its interest rate risk management strategy.&amp;#160;&amp;#160;Interest rate swaps designated as cash flow hedges involve the receipt of variable-rate amounts from a counterparty in exchange for the Company making fixed-rate payments over the life of the agreements without exchange of the underlying notional amount.&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; background-color: white; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white; color: black; font-size: 10pt;"&gt;The effective portion of changes in the fair value of derivatives designated and&amp;#160;qualifying as cash flow hedges was recorded in Accumulated Other Comprehensive Loss and subsequently reclassified into earnings in the period that the hedged forecasted transaction affects earnings. During the three months ended March 31, 2011, such derivatives were used to hedge the variable cash flows associated with existing floating rate debt commitments.&amp;#160;&amp;#160;The ineffective portion of the change in fair value of the derivatives, if any, was recognized directly in earnings.&lt;/font&gt; &lt;font style="font-size: 10pt;"&gt;There was no hedging ineffectiveness during the years ended December 31, 2011, 2010 and 2009.&amp;#160;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;Amounts reported in Accumulated Other Comprehensive Loss related to derivatives are reclassified to interest expense as interest payments are made on the Company&amp;#8217;s floating rate debt.&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; background-color: white; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;Under the swap agreements, the Company paid a fixed rate. The counterparties to the agreements paid the Company a floating interest rate based on the three month LIBOR, for which measurement and settlement is performed quarterly. The counterparties to these agreements were international financial institutions.&lt;/font&gt;&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;b&gt;&lt;i&gt;Other Derivative Instruments&lt;/i&gt;&lt;/b&gt;&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; background-color: white; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;The Company recognizes all derivatives at fair value, whether designated in hedging relationships or not, on the balance sheet as either an asset or liability. The accounting for changes in the fair value of a derivative, including certain derivative instruments embedded in other contracts, depends on the intended use of the derivative and the resulting designation. If the derivative is designated as a fair value hedge, the changes in the fair value of the derivative and the hedged item are recognized in the statement of operations. If the derivative is designated as a cash flow hedge, changes in the fair value of the derivative are recorded in other comprehensive income and are recognized in the statement of operations when the hedged item affects net income. If a derivative does not qualify as a hedge, it is marked to fair value through the statement of operations.&amp;#160; &lt;/font&gt;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; background-color: white; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white; color: black;"&gt;As of December 31, 2011, the Company was party to an Employment Agreement executed in April 2008 with the CEO. Pursuant to the Employment Agreement, the CEO is eligible to receive an award amount equal to 8% of any proceeds from distributions or other liquidity events in excess of the return of the Company&amp;#8217;s aggregate investment in TV One. &lt;/font&gt;The Company reassessed the estimated fair value of the award at December 31, 2011 to be approximately $10.3 million, and accordingly,&amp;#160;adjusted its liability&amp;#160;to this amount. &lt;font style="background-color: white; color: black;"&gt;The Company&amp;#8217;s obligation to pay the award will be triggered only after the Company&amp;#8217;s recovery of the aggregate amount of its capital contribution in TV One and only upon actual receipt of distributions of cash or marketable securities or proceeds from a liquidity event with respect to the Company&amp;#8217;s membership interest in TV One. The CEO was fully vested in the award upon execution of the Employment Agreement, and the award&amp;#160;lapses if the CEO voluntarily leaves the Company, or is terminated for cause. The Company is currently in negotiations with the Company&amp;#8217;s CEO for a new employment agreement. Until such time as his new employment agreement is executed, the terms of his April 2008 employment agreement remain in effect including eligibility for the TV One award.&lt;/font&gt;&lt;/p&gt;</us-gaap:DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock>

<us-gaap:IncomeTaxDisclosureTextBlock contextRef="Context_FYE_31-Dec-2011">&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;b&gt;13.&amp;#160;&amp;#160;INCOME TAXES:&lt;/b&gt;&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;The Company&amp;#8217;s provision for income taxes from continuing operations was approximately $66.7 million for the year ended December 31, 2011, compared to a provision for income taxes of approximately $4.0 million for the year ended December 31, 2010, and compared to a provision for income taxes of $7.0 million for 2009. A reconciliation of the statutory federal income taxes to the recorded provision for income taxes from continuing operations is as follows:&lt;/p&gt;
&lt;p style="text-align: left; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;table style="width: 100%; font: 10pt times new roman, times, serif;" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="10"&gt;For&amp;#160;the&amp;#160;Years&amp;#160;Ended &lt;br  /&gt;December&amp;#160;31,&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2"&gt;2011&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2"&gt;2010&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2"&gt;2009&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; font-weight: bold;" colspan="10"&gt;(In thousands)&lt;/td&gt;
&lt;td style="font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; width: 55%;"&gt;Statutory tax (@ 35% rate)&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 12%;"&gt;27,863&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 12%;"&gt;(7,858&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;)&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 12%;"&gt;(13,905&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Effect of state taxes, net of federal&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;4,331&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(613&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(2,267&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Effect of state rate and tax law changes&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;750&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;101&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;255&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Other permanent items&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;1&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;77&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;152&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Interest disallowed under Internal Revenue Code 163(i)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;8,825&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;765&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Effect of equity adjustments including ASC 718&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;5&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;45&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;198&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Internal Revenue Code Section 162(m)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;2,226&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;2,504&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;534&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Valuation allowance&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;14,910&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;3,171&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;22,259&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Effect of permanent impairment of long-lived assets&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;4,540&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;5,735&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;Expiring NOLs and Charitable Carryovers&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;1,037&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;454&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;225&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;Cancellation of Stock Based Compensation&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;1,151&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;(255&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;218&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;Other&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;1,047&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;(155&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;(655&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;Provision for income taxes&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;66,686&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;3,971&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;7,014&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;The components of the provision for income taxes from continuing operations are as follows:&lt;/p&gt;
&lt;p style="text-align: left; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;table style="width: 100%; font: 10pt times new roman, times, serif;" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 0px; text-indent: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="10"&gt;For&amp;#160;the&amp;#160;Years&amp;#160;Ended &lt;br  /&gt;December&amp;#160;31,&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 0px; text-indent: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2"&gt;2011&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2"&gt;2010&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2"&gt;2009&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 0px; text-indent: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; font-weight: bold;" colspan="10"&gt;(In thousands)&lt;/td&gt;
&lt;td style="font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 0px; text-indent: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; font-weight: bold;" colspan="10"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 0px; text-indent: 0px;"&gt;Federal:&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 0px; text-indent: -9pt; padding-left: 18pt; width: 55%;"&gt;Current&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 12%;"&gt;1,980&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 12%;"&gt;2,199&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 12%;"&gt;3,834&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 0px; text-indent: 0px; padding-left: 0.12in;"&gt;Deferred&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;53,113&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;1,010&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;5,679&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 0px; text-indent: 0px;"&gt;State:&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 0px; text-indent: 0px; padding-left: 0.12in;"&gt;Current&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;555&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;461&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;1,184&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 0px; text-indent: 0px; padding-left: 0.12in;"&gt;Deferred&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;11,038&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;301&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;(3,683&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt; text-indent: 0px;"&gt;Provision for income taxes&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;66,686&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;3,971&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;7,014&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="text-align: left; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;For the year ended December 31, 2011, the provision consisted of deferred taxes of approximately $33.2 million related to temporary differences associated with the amortization for tax purposes of indefinite lived intangible assets held by Radio One, approximately $33.8 million related to the partnership interest in TV One, reduced by the deferred tax benefit from the Reach Media impairment of approximately $2.8 million. Current federal taxes consisted of approximately $2.0 million for Reach Media and state taxes of $393,000 for Radio One and $162,000 for Reach Media. For the year ended December 31, 2010, the tax provision consisted of approximately $2.2 million for Reach Media, approximately $2.7 million for the increase in the deferred tax liability (&amp;#8220;DTL&amp;#8221;) associated with certain indefinite-lived intangibles, $358,000 for state taxes and FIN 48 items, and a tax benefit of approximately $1.3 million for Reach Media purchase price accounting amortization. For the year ended December 31, 2009, the tax provision consisted of approximately $4.5 million for Reach Media, approximately $4.8 million for the increase in the DTL associated with certain indefinite-lived intangibles, and $94,000 for state taxes and FIN 48 items, which were offset by a benefit of approximately $1.4 million for true-up items and a benefit of approximately $1.0 million for Reach Media purchase price accounting amortization. The decrease of approximately $3.0 million consisted primarily of approximately $2.3 million decrease for Reach Media due to a decline in book income. The Company continues to maintain a full valuation allowance for its deferred tax assets (&amp;#8220;DTAs&amp;#8221;) other than DTAs for Reach Media as further discussed below.&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: left; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;The loss from discontinued operations for the years ended December 31, 2011, 2010 and 2009 did not result in any tax benefit due to the Company&amp;#8217;s valuation allowance.&amp;#160;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: left; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: left; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;The significant components of the Company&amp;#8217;s deferred tax assets and liabilities as of December 31, 2011 and 2010 are as follows:&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;table style="width: 100%; font: 10pt times new roman, times, serif;" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="6"&gt;As&amp;#160;of&amp;#160;December&amp;#160;31,&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2"&gt;2011&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2"&gt;2010&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; font-weight: bold;" colspan="6"&gt;(In&amp;#160;thousands)&lt;/td&gt;
&lt;td style="font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; font-weight: bold;" colspan="6"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Deferred tax assets:&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; width: 70%;"&gt;Allowance for doubtful accounts&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 12%;"&gt;1,130&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 12%;"&gt;1,180&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;Accruals&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;512&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;1,455&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Total current deferred tax assets before valuation allowance&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;1,642&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;2,635&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;Valuation allowance&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;(1,584&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;(2,456&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;Total current deferred tax assets, net&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;58&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;179&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Intangible assets&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;16,528&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;21,252&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Fixed assets&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;1,459&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;299&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Stock-based compensation&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;1,474&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;1,803&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Net operating loss carryforwards&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;249,059&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;208,805&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;Other&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;1,451&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;2,336&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Total noncurrent deferred tax assets before valuation allowance&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;269,971&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;234,495&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;Valuation allowance&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;(243,343&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;(227,903&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;Net noncurrent deferred tax assets&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;26,628&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;6,592&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;Total deferred tax assets&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;26,686&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;6,771&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Deferred tax liabilities:&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;Prepaid expenses&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;(157&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;Total current deferred tax liability&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;(157&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Intangible assets&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(117,616&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(87,400&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Partnership interests&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(61,728&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(7,956&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;Other&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;(863&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;(628&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;Total noncurrent deferred tax liabilities&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;(180,207&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;(95,984&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;Total deferred tax liabilities&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;(180,207&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;(96,141&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;Net deferred tax liabilities&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;(153,521&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;(89,370&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="text-align: left; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;As of December 31, 2011, the Company had Federal, state, and city NOL carryforward amounts of approximately $626.6 million, $572.5 million, and $127.8 million respectively. The state and city NOLs are applied separately from the Federal NOL as the Company generally files separate state and city returns for each subsidiary. Additionally, the amount of the state NOLs can change whenever future state apportionment factors differ from current factors. The NOLs may be subject to limitation under Internal Revenue Code Section 382. The NOLs begin to expire as early as 2017, with the final expirations in 2031.&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;Deferred income taxes reflect the impact of temporary differences between the assets and liabilities recognized for financial reporting purposes and amounts recognized for tax purposes. Deferred taxes are based on tax laws as currently enacted.&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;The Company had unrecognized tax benefits of approximately $5.8 million related to state NOLs of approximately $56.6 million as of December 31, 2011.&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;The Company concluded it was more likely than not that the benefit from certain of its DTAs would not be realized. The Company considered its historically profitable jurisdictions, its sources of future taxable income and tax planning strategies in determining the amount of valuation allowance recorded. As part of that assessment, the Company also determined that it was not appropriate under generally accepted accounting principles to benefit its DTAs based on DTLs related to indefinite-lived intangibles that cannot be scheduled to reverse in the same period. Because the&amp;#160;DTL in this case would not reverse until some future indefinite period when the intangibles are either sold or impaired, any resulting temporary differences cannot be considered a source of future taxable income to support realization of the&amp;#160;DTAs. As a result of the assessment, and given the current total three year cumulative loss position, (after excluding the gain recognized in connection with the consolidation of TV One) the uncertainty of future taxable income and the feasibility of tax planning strategies, the Company recorded a valuation allowance of approximately $244.9 million, $230.4 million and $228.0 million as of December 31, 2011, 2010 and 2009, respectively.&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;As disclosed in Note 1 &amp;#8212; &lt;i&gt;Organization&lt;/i&gt; &lt;i&gt;and Summary of Significant Accounting Policies, &lt;/i&gt;the Company accounts for income taxes in accordance with ASC 740, &lt;i&gt;&amp;#8220;Income Taxes.&amp;#8221;&lt;/i&gt; The nature of the uncertainties pertaining to the Company&amp;#8217;s income taxes is primarily due to various state tax positions. As of December 31, 2011, the Company had unrecognized tax benefits of approximately $5.8 million, of which a net amount of approximately $3.8 million, if recognized, would impact the effective tax rate if there was no valuation allowance. The Company recognizes accrued interest and penalties related to unrecognized tax benefits as a component of tax expense. Accordingly, during the year ended December 31, 2011, we recorded interest related to unrecognized tax benefits of $46,000, and at December 31, 2011, we recorded a liability for accrued interest of $311,000. The Company estimates the possible change to its unrecognized tax benefits prior to December 31, 2012 would be up to $752,000, due to closed statutes. A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;table style="width: 100%; font: 10pt times new roman, times, serif;" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2"&gt;2011&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2"&gt;2010&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2"&gt;2009&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; font-weight: bold;" colspan="10"&gt;(In thousands)&lt;/td&gt;
&lt;td style="font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; width: 61%;"&gt;Balance as of January 1&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 10%;"&gt;5,822&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 10%;"&gt;6,326&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 10%;"&gt;4,953&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Additions (reductions) for tax position related to current year&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(475&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;82&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Additions for tax positions related to prior years&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;1,525&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;Reductions for tax positions as a result of the lapse of applicable statutes of limitations&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;(42&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;(29&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;(234&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;Balance as of December 31&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;5,780&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;5,822&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;6,326&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="text-align: left; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;As of December 31, 2011, the Company was not under audit in any jurisdiction for Federal or state income tax purposes. However, the Company&amp;#8217;s open tax years for Federal income tax examinations include the tax years ended December 31, 2008 through 2011. Additionally, prior years are open to the extent of the amount of the net operating loss from that year. For state and local purposes, the open years for tax examinations include the tax years ended December 31, 2007 through 2011.&lt;/p&gt;</us-gaap:IncomeTaxDisclosureTextBlock>
<us-gaap:StockholdersEquityNoteDisclosureTextBlock contextRef="Context_FYE_31-Dec-2011">&lt;p style="text-align: left; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;b&gt;14.&amp;#160;&amp;#160;STOCKHOLDERS&amp;#8217; EQUITY:&lt;/b&gt;&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;b&gt;&lt;i&gt;Common Stock&lt;/i&gt;&lt;/b&gt;&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;The Company has four classes of common stock, Class A, Class B, Class C and Class D. Generally, the shares of each class are identical in all respects and entitle the holders thereof to the same rights and privileges. However, with respect to voting rights, each share of Class A common stock entitles its holder to one vote and each share of Class B common stock entitles its holder to ten votes. The holders of Class C and Class D common stock are not entitled to vote on any matters. The holders of Class A common stock can convert such shares into shares of Class C or Class D common stock. Subject to certain limitations, the holders of Class B common stock can convert such shares into shares of Class A common stock. The holders of Class C common stock can convert such shares into shares of Class A common stock. The holders of Class D common stock have no such conversion rights.&lt;/font&gt;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;b&gt;&lt;i&gt;&amp;#160;Stock Repurchase Program&lt;/i&gt;&lt;/b&gt;&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; background-color: white; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white; color: black;"&gt;In April 2011, the Company&amp;#8217;s board of directors authorized a repurchase of shares of the Company&amp;#8217;s Class A and Class D common stock (the &amp;#8220;2011 Repurchase Authorization&amp;#8221;). Under the 2011 Repurchase Authorization, the Company is authorized, but is not obligated, to repurchase up to $15 million worth of its Class A and/or Class D common stock prior to April 13, 2013.&amp;#160;&amp;#160;Repurchases will be made from time to time in the open market or in privately negotiated transactions in accordance with applicable laws and regulations.&amp;#160;&amp;#160;The timing and extent of any repurchases will depend upon prevailing market conditions, the trading price of the Company&amp;#8217;s Class A and/or Class D common stock and other factors, and subject to restrictions under applicable law.&amp;#160;&amp;#160;The Company executes upon the stock repurchase program in a manner consistent with market conditions and the interests of the stockholders, including maximizing stockholder value.&amp;#160;&amp;#160;&lt;/font&gt;During the year ended December 31, 2011, &lt;font style="background-color: white; color: black;"&gt;the Company repurchased 54,566 shares of Class A common stock in the amount of $73,000 at an average price of $1.34 per share and 4,245,567 shares of Class D common stock in the amount of approximately $9.4 million at an average price of $2.21 per share. The Company continues to have an open stock repurchase authorization with respect to its Class A and D stock. &lt;/font&gt;During the year ended December 31, 2010, the Company did not repurchase any Class A Common Stock or Class D Common Stock. During the year ended December 31, 2009, the Company repurchased 34,889 shares of Class A Common Stock at an average price of $0.68 and 27.7 million shares of Class D Common Stock at an average price of $0.71.&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;b&gt;&lt;i&gt;&amp;#160;Stock Option and Restricted Stock Grant Plan&lt;/i&gt;&lt;/b&gt;&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; background-color: white; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;Under the Company&amp;#8217;s 1999 Stock Option and Restricted Stock Grant Plan (&amp;#8220;Plan&amp;#8221;), the Company had the authority to issue up to 10,816,198&amp;#160;shares of Class&amp;#160;D common stock and 1,408,099&amp;#160;shares of Class&amp;#160;A common stock. The Plan expired March 10, 2009. The options previously issued under this plan are exercisable in installments determined by the compensation committee of the Company&amp;#8217;s board of directors at the time of grant. These options expire as determined by the compensation committee, but no later than ten years from the date of the grant. The Company uses an average life for all option awards. The Company settles stock options upon exercise by issuing stock.&lt;/font&gt;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;A new stock option and restricted stock plan (&amp;#8220;the 2009 Stock Plan&amp;#8221;) was approved by the stockholders at the Company&amp;#8217;s annual meeting on December 16, 2009.&amp;#160;&amp;#160;The terms of the 2009 Stock Plan are substantially similar to the prior Plan. The Company has the authority to issue up to 8,250,000 shares of Class&amp;#160;D Common Stock under the 2009 Stock Plan.&amp;#160;As of December 31, 2011, 4,844,051 shares of Class&amp;#160;D Common Stock were available for grant under the 2009 Stock Plan.&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;In December 2009, the compensation committee and the non-executive members of the Board of Directors approved a long-term incentive plan (the &amp;#8220;2009 LTIP&amp;#8221;) for certain &amp;#8220;key&amp;#8221; employees of the Company. The 2009 LTIP is comprised of 3,250,000 shares (the &amp;#8220;LTIP Shares&amp;#8221;) of the 2009 Stock Plan&amp;#8217;s 8,250,000 shares of Class D Common Stock. Awards of the LTIP Shares were granted in the form of restricted stock and allocated among 31 employees of the Company, including the named executive officers. The named executive officers were allocated LTIP Shares as follows: (i) Chief Executive Officer (&amp;#8220;CEO&amp;#8221;) (1.0 million shares); (ii) the Chairperson (300,000 shares); (iii) the Chief Financial Officer (&amp;#8220;CFO&amp;#8221;) (225,000 shares); (iv) the Chief Administrative Officer (&amp;#8220;CAO&amp;#8221;) (225,000 shares); and (v) the President of the Radio Division (&amp;#8220;PRD&amp;#8221;) (130,000 shares). The remaining 1,370,000 shares were allocated among 26 other &amp;#8220;key&amp;#8221; employees. All awards will vest in&amp;#160;three installments.&amp;#160; The awards were granted effective January 5, 2010 and the first installment&amp;#160;of 33% vested on June 5, 2010, the second installment vested on June 5, 2011. The third installment was originally scheduled to vest on June 5, 2012 but upon determination by the compensation committee was accelerated to vest on November 19, 2011. Pursuant to the terms of the 2009 Stock Plan, subject to the Company&amp;#8217;s insider trading policy, a portion of each recipient&amp;#8217;s vested shares may be sold into the open market for tax purposes on or about the vesting dates.&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;The Company follows the provisions under ASC 718, &lt;i&gt;&amp;#8220;Compensation - Stock Compensation,&amp;#8221;&lt;/i&gt; using the modified prospective method, which requires measurement of compensation cost for all stock-based awards at fair value on date of grant and recognition of compensation over the service period for awards expected to vest. These stock-based awards do not participate in dividends until fully vested. The fair value of stock options is determined using the Black-Scholes (&amp;#8220;BSM&amp;#8221;) valuation model.&lt;i&gt;&amp;#160;&lt;/i&gt;Such fair value is recognized as an expense over the service period, net of estimated forfeitures, using the straight-line method. Estimating the number of stock awards that will ultimately vest requires judgment, and to the extent actual forfeitures differ substantially from our current estimates, amounts will be recorded as a cumulative adjustment in the period the estimated number of stock awards are revised. We consider many factors when estimating expected forfeitures, including the types of awards, employee classification and historical experience. Actual forfeitures may differ substantially from our current estimate.&lt;/font&gt;&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; background-color: white; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;The Company also uses the BSM valuation model to calculate the fair value of stock-based awards. The BSM incorporates various assumptions including volatility, expected life, and interest rates. For options granted, the Company uses the BSM option-pricing model and determines: (i)&amp;#160;the term by using the simplified &amp;#8220;plain-vanilla&amp;#8221; method as allowed under SAB No.&amp;#160;110; (ii)&amp;#160;a historical volatility over a period commensurate with the expected term, with the observation of the volatility on a daily basis; and (iii)&amp;#160;a risk-free interest rate that was consistent with the expected term of the stock options and based on the U.S. Treasury yield curve in effect at the time of the grant.&lt;/font&gt;&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;The Company granted 181,520 stock options during the year ended December 31, 2011. The Company granted 39,430 stock options during the year ended December 31, 2010 and did not grant stock options during the year ended December 31, 2009. The per share weighted-average fair value of options granted during the years ended December 31, 2011 and 2010 was $1.38 and $2.45, respectively.&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;These fair values were derived using the BSM with the following weighted-average assumptions:&lt;/p&gt;
&lt;p style="text-align: left; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: left; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;/p&gt;
&lt;table align="center" style="width: 80%; font: 10pt times new roman, times, serif;" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="10"&gt;For&amp;#160;the&amp;#160;Years&amp;#160;Ended &lt;br  /&gt;December&amp;#160;31,&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2"&gt;2011&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2"&gt;2010&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2"&gt;2009&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="width: 46%;"&gt;Average risk-free interest rate&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; width: 15%;"&gt;2.23&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;%&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; width: 15%;"&gt;3.28&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;%&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; width: 15%;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Expected dividend yield&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;0.00&lt;/td&gt;
&lt;td style="text-align: left;"&gt;%&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;0.00&lt;/td&gt;
&lt;td style="text-align: left;"&gt;%&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Expected lives&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;6.00 years&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;6.25 years&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Expected volatility&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;120.7&lt;/td&gt;
&lt;td style="text-align: left;"&gt;%&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;111.3&lt;/td&gt;
&lt;td style="text-align: left;"&gt;%&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="text-align: left; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;/p&gt;
&lt;p style="text-align: left; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;/p&gt;
&lt;p style="text-align: left; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;Transactions and other information relating to stock options for the years December 31, 2011, 2010 and 2009 are summarized below:&lt;/p&gt;
&lt;p style="text-align: left; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;table style="width: 100%; font: 10pt times new roman, times, serif;" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2"&gt;Number&lt;br  /&gt;of&lt;br  /&gt;Options&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2"&gt;Weighted-&lt;br  /&gt;Average&lt;br  /&gt;Exercise&lt;br  /&gt;Price&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2"&gt;Weighted-&lt;br  /&gt;Average&lt;br  /&gt;Remaining&lt;br  /&gt;Contractual&lt;br  /&gt;Term&amp;#160;(In&lt;br  /&gt;Years)&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2"&gt;Aggregate&lt;br  /&gt;Intrinsic&lt;br  /&gt;Value&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; width: 48%;"&gt;Outstanding at December&amp;#160;31, 2008&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; width: 10%;"&gt;5,547,000&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 10%;"&gt;9.64&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; width: 10%;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; width: 10%;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Grants&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Exercised&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;Forfeited/cancelled/expired&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;(182,000&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;9.68&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Outstanding at December&amp;#160;31, 2009&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;5,365,000&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right;"&gt;9.64&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Grants&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;39,000&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right;"&gt;3.17&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Exercised&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;Forfeited/cancelled/expired&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;(405,000&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;11.57&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;Outstanding at December&amp;#160;31, 2010&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;4,999,000&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; padding-bottom: 2.5pt;"&gt;9.40&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; padding-bottom: 2.5pt;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; padding-bottom: 2.5pt;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Grants&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;182,000&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right;"&gt;1.38&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Exercised&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;Forfeited/cancelled/expired&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;(370,000&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;16.57&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;Outstanding at December&amp;#160;31, 2011&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;4,811,000&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; padding-bottom: 2.5pt;"&gt;8.60&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; padding-bottom: 2.5pt;"&gt;4.47&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; padding-bottom: 2.5pt;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Vested and expected to vest at December&amp;#160;31, 2011&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;4,797,000&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right;"&gt;8.62&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;4.45&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Unvested at December 31, 2011&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;128,000&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right;"&gt;1.75&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;9.11&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Exercisable at December&amp;#160;31, 2011&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;4,683,000&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right;"&gt;8.79&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;4.34&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="text-align: left; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;The aggregate intrinsic value in the table above represents the difference between the Company&amp;#8217;s stock closing price on the last day of trading during the year ended December 31, 2011 and the exercise price, multiplied by the number of shares that would have been received by the holders of in-the-money options had all the option holders exercised their options on December 31, 2011. This amount changes based on the fair market value of the Company&amp;#8217;s stock. There were no options exercised during the year ended December 31, 2011. The number of options that vested during the year ended December 31, 2011 was 725,794.&lt;/p&gt;
&lt;p style="text-align: left; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;As of December 31, 2011, approximately $107,000 of total unrecognized compensation cost related to stock options is expected to be recognized over a weighted-average period of 7.6 months. The stock option weighted-average fair value per share was $3.45 at December 31, 2011.&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;Transactions and other information relating to restricted stock grants for the years ended December 31, 2011, 2010 and 2009 are summarized below:&lt;/p&gt;
&lt;p style="text-align: left; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;table style="width: 100%; font: 10pt times new roman, times, serif;" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2"&gt;Shares&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2"&gt;Average&lt;br  /&gt;Fair&lt;br  /&gt;Value&amp;#160;at&lt;br  /&gt;Grant&lt;br  /&gt;Date&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; width: 74%;"&gt;Unvested at December&amp;#160;31, 2008&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; width: 10%;"&gt;628,000&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 10%;"&gt;2.14&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Grants&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Vested&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(235,000&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right;"&gt;2.48&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;Forfeited/cancelled/expired&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;Unvested at December&amp;#160;31, 2009&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; padding-bottom: 1pt;"&gt;393,000&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;1.94&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Grants&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;3,375,000&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right;"&gt;3.09&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Vested&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(1,226,000&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right;"&gt;3.01&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;Forfeited/cancelled/expired&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;(232,000&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;3.23&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;Unvested at December&amp;#160;31, 2010&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; padding-bottom: 1pt;"&gt;2,310,000&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;2.92&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Grants&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;60,000&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right;"&gt;1.19&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Vested&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(2,203,000&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right;"&gt;2.99&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;Forfeited/cancelled/expired&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;(23,000&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;3.17&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;Unvested at December&amp;#160;31, 2011&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;144,000&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;1.10&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="text-align: left; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;The restricted stock grants were included in the Company&amp;#8217;s outstanding share numbers on the effective date of grant. As of December&amp;#160;31, 2011, approximately $126,000 of total unrecognized compensation cost related to restricted stock grants was expected to be recognized over the next 1.2 years.&lt;/p&gt;</us-gaap:StockholdersEquityNoteDisclosureTextBlock>
<us-gaap:RelatedPartyTransactionsDisclosureTextBlock contextRef="Context_FYE_31-Dec-2011">&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;b&gt;15.&amp;#160;&amp;#160;RELATED PARTY TRANSACTIONS:&lt;/b&gt;&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;The Company&amp;#8217;s CEO and Chairperson own a music company called Music One, Inc. (&amp;#8220;Music One&amp;#8221;). The Company sometimes engages in promoting the recorded music product of Music One. Based on the cross-promotional value received by the Company, we believe that the provision of such promotion is fair.&amp;#160;&amp;#160;During the years ended December 31, 2011, 2010 and 2009, Radio One paid $6,000, $6,000 and $38,000, respectively, to or on behalf of Music One, primarily for market&amp;#160;talent&amp;#160;event appearances, travel reimbursement and sponsorships. For the years ended December 31, 2011, 2010 and 2009, the Company provided advertising to Music One in the amount of $1,000, $0 and $0, respectively. There were no cash, trade or no-charge orders placed by Music One in 2010 or 2009.&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;The office space and administrative support transactions between Radio One and Music One are conducted at cost and all expenses associated with the transactions are passed through at actual costs.&amp;#160;&amp;#160;Costs associated with office space on behalf of Music One are calculated based on square footage used by Music One, multiplied by Radio One&amp;#8217;s actual per square foot lease costs for the appropriate time period.&amp;#160;&amp;#160;Administrative services are calculated based on the approximate hours provided by each Radio One employee to Music One, multiplied by such employee&amp;#8217;s applicable hourly rate and related benefits allocation.&amp;#160;&amp;#160;Advertising spots are priced at an average unit rate. Based on the cross-promotional nature of the activities provided by Music One and received by the Company, we believe that these methodologies of charging average unit rates or passing through the actual costs incurred are fair and reflect terms no more favorable than terms generally available to a third-party.&lt;/p&gt;</us-gaap:RelatedPartyTransactionsDisclosureTextBlock>
<us-gaap:CompensationAndEmployeeBenefitPlansTextBlock contextRef="Context_FYE_31-Dec-2011">&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;b&gt;16.&amp;#160;&amp;#160;PROFIT SHARING AND EMPLOYEE SAVINGS PLAN:&lt;/b&gt;&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;The Company maintains a&amp;#160;profit sharing and employee savings plan under&amp;#160;Section&amp;#160;401(k) of the Internal Revenue Code. This plan allows eligible employees to defer allowable portions of their compensation on a pre-tax basis through contributions to the savings plan. The Company may contribute to the plan at the discretion of its board of directors. Effective January&amp;#160;1, 2006, the Company began matching employee contributions to the employee savings plan. As of January 1, 2008, the Company suspended the matching employer contribution indefinitely. For the years ended December&amp;#160;31, 2011, 2010 and 2009, no employer contributions were paid.&lt;/p&gt;</us-gaap:CompensationAndEmployeeBenefitPlansTextBlock>
<us-gaap:CommitmentsAndContingenciesDisclosureTextBlock contextRef="Context_FYE_31-Dec-2011">&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;b&gt;17.&amp;#160;&amp;#160;COMMITMENTS AND CONTINGENCIES:&lt;/b&gt;&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;b&gt;&lt;i&gt;Radio Broadcasting Licenses&lt;/i&gt;&lt;/b&gt;&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;Each of the Company&amp;#8217;s radio stations operates pursuant to one or more licenses issued by the Federal Communications Commission that have a maximum term of eight years prior to renewal. The Company&amp;#8217;s radio broadcasting licenses expire at various times through December&amp;#160;1, 2019. Although the Company may apply to renew its radio broadcasting licenses, third parties may challenge the Company&amp;#8217;s renewal applications. The Company is not aware of any facts or circumstances that would prevent the Company from having its current licenses renewed.&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;b&gt;&lt;i&gt;Royalty Agreements&lt;/i&gt;&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; background-color: white; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;Effective December 31, 2009, our radio music license agreements with the two largest performance rights organizations, American Society of Composers, Authors and Publishers (&amp;#8220;ASCAP&amp;#8221;) and Broadcast Music, Inc. (&amp;#8220;BMI&amp;#8221;) expired. The Radio Music License Committee (&amp;#8220;RMLC&amp;#8221;), which negotiates music licensing fees for most of the radio industry with ASCAP and BMI, has reached an agreement with these organizations on a temporary fee schedule that reflects a provisional discount of 7.0% against 2009 fee levels. The temporary fee reductions became effective in January 2010. Absent an agreement on long-term fees between the RMLC and ASCAP and BMI, the U.S. District Court in New York has the authority to make an interim and permanent fee ruling for the new contract period. In May 2010 and June 2010, the U.S. District Court&amp;#8217;s judge charged with determining the licenses fees ruled to further reduce interim fees paid to ASCAP and BMI, respectively, down approximately another 11.0% from the previous temporary fees negotiated with the RMLC. In January 2012, the U.S. District Court approved a settlement between RMLC and ASCAP. The settlement determines the amount to be paid to ASCAP for usage through 2016. In addition, stations will receive a credit for overpayments made in 2010 and 2011.&lt;/font&gt;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;The Company has entered into fixed fee and variable share agreements with music performance rights organizations that expire as late as 2015. During the years ended December&amp;#160;31, 2011, 2010 and 2009, the Company incurred expenses, including discontinued operations, of approximately $12.5 million, $11.4 million and $12.6&amp;#160;million, respectively, in connection with these agreements. For continuing operations, for the years ended December&amp;#160;31, 2011, 2010 and 2009, the Company incurred expenses of approximately $12.5 million, $11.4 million and $12.6&amp;#160;million, respectively, in connection with these agreements.&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;b&gt;&lt;i&gt;Leases and Other Operating Contracts and Agreements&lt;/i&gt;&lt;/b&gt;&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;The Company has noncancelable operating leases for office space, studio space, broadcast towers and transmitter facilities that expire over the next 20&amp;#160;years. The Company&amp;#8217;s leases for broadcast facilities generally provide for a base rent plus real estate taxes and certain operating expenses related to the leases. Certain of the Company&amp;#8217;s leases contain renewal options, escalating payments over the life of the lease and rent concessions. Scheduled rent increases and rent concessions are being amortized over the terms of the agreements using the straight-line method, and are included in other liabilities in the accompanying consolidated balance sheets. The future rentals under non-cancelable leases as of December&amp;#160;31, 2011 are shown below.&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;The Company has other operating contracts and agreements including employment contracts, on-air talent contracts, severance obligations, retention bonuses, consulting agreements, equipment rental agreements, programming related agreements, and other general operating agreements that expire over the next five years. The amounts the Company is obligated to pay for these agreements are shown below.&lt;/p&gt;
&lt;p style="text-align: left; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;table align="center" style="width: 80%; font: 10pt times new roman, times, serif;" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;Operating&lt;br  /&gt;Lease&lt;br  /&gt;Payments&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;Other&lt;br  /&gt;Operating&lt;br  /&gt;Contracts&lt;br  /&gt;and&lt;br  /&gt;Agreements&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; font-weight: bold;" colspan="6"&gt;(In thousands)&lt;/td&gt;
&lt;td style="font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;" colspan="2"&gt;Years ending December&amp;#160;31:&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;" colspan="2"&gt;2012&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right;"&gt;9,503&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right;"&gt;63,973&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;" colspan="2"&gt;2013&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;8,054&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;27,789&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;" colspan="2"&gt;2014&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;7,026&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;21,478&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;" colspan="2"&gt;2015&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;5,932&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;5,100&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;" colspan="2"&gt;2016&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;5,107&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;4,022&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;" colspan="2"&gt;2017 and thereafter&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;16,464&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;638&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;" colspan="2"&gt;Total&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;52,086&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;123,000&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; width: 0%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; width: 73%;"&gt;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&lt;/td&gt;
&lt;td style="text-align: right; width: 10%;"&gt;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&lt;/td&gt;
&lt;td style="text-align: right; width: 10%;"&gt;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;Rent expense included in continuing operations for the years ended December&amp;#160;31, 2011, 2010 and 2009 was approximately $9.6 million, $8.1&amp;#160;million and $8.8&amp;#160;million, respectively. Rent expense, including discontinued operations, for the years ended December&amp;#160;31, 2011, 2010 and 2009 was approximately $9.6 million, $8.1&amp;#160;million and $8.8&amp;#160;million, respectively.&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;b&gt;&lt;i&gt;Reach Media Noncontrolling Interest Shareholders&amp;#8217; Put Rights&lt;/i&gt;&lt;/b&gt;&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white; color: black;"&gt;Beginning on February 28, 2012, the noncontrolling interest shareholders of Reach Media have an annual right to require Reach Media to purchase all or a portion of their shares at the then current fair market value for such shares.&amp;#160;&amp;#160;&amp;#160;Beginning in 2012, this annual right can be exercised for a 30-day period beginning February 28 of each year. The purchase price for such shares may be paid in cash and/or registered Class D Common Stock of Radio One, at the discretion of Radio One. As a result, our ability to fund business operations, new acquisitions or new business initiatives could be limited. &lt;/font&gt;The noncontrolling interest shareholders of Reach Media did not exercise their right during the 30-day period that ended March 29, 2012, however, we have no assurances that they will or will not exercise their rights in future years.&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;b&gt;&lt;i&gt;Letters of Credit&lt;/i&gt;&lt;/b&gt;&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;As of December 31, 2011, we had four standby letters of credit totaling $1.2 million in connection with our annual insurance policy renewals and real estate leases. In addition, Reach Media had a letter of credit of $500,000 outstanding as of December 31, 2011.&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;b&gt;&lt;i&gt;Other Contingencies&lt;/i&gt;&lt;/b&gt;&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;The Company has been named as a defendant in several legal actions arising in the ordinary course of business. It is management&amp;#8217;s opinion, after consultation with its legal counsel, that the outcome of these claims will not have a material adverse effect on the Company&amp;#8217;s financial position or results of operations.&lt;/p&gt;</us-gaap:CommitmentsAndContingenciesDisclosureTextBlock>
<roia:AgreementsAndContractSettlementsDisclosureTextBlock contextRef="Context_FYE_31-Dec-2011">&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;b&gt;18.&amp;#160;&amp;#160;CONTRACT TERMINATION:&lt;/b&gt;&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;In connection with the September 2005 termination of the Company&amp;#8217;s sales representation agreements with Interep National Radio Sales, Inc. (&amp;#8220;Interep&amp;#8221;), and its subsequent agreements with Katz Communications, Inc. (&amp;#8220;Katz&amp;#8221;) making Katz the Company&amp;#8217;s sole national sales representative, Katz paid the Company $3.4 million as an inducement to enter into new agreements and paid Interep approximately $5.3 million to satisfy the Company&amp;#8217;s termination obligations. In August 2009, the Company completed amortizing both over the four-year life of the subsequent Katz agreements as a reduction to selling, general, and administrative expense. For the year ended December 31, 2009, selling, general and administrative expense was reduced by approximately $1.3 million.&lt;/p&gt;</roia:AgreementsAndContractSettlementsDisclosureTextBlock>
<us-gaap:QuarterlyFinancialInformationTextBlock contextRef="Context_FYE_31-Dec-2011">&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;b&gt;19.&amp;#160;&amp;#160;QUARTERLY FINANCIAL DATA (UNAUDITED):&lt;/b&gt;&lt;/p&gt;
&lt;p style="text-align: left; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;table style="width: 100%; font: 10pt times new roman, times, serif;" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="14" nowrap="nowrap"&gt;Quarters&amp;#160;Ended&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;March&amp;#160;31&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;June&amp;#160;30&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;September&amp;#160;30&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;December&amp;#160;31(a)&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; font-weight: bold;" colspan="14"&gt;(In thousands, except share data)&lt;/td&gt;
&lt;td style="font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;2011:&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; width: 56%;"&gt;Net revenue&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 8%;"&gt;65,009&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 8%;"&gt;97,062&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 8%;"&gt;104,445&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 8%;"&gt;98,093&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Operating income (loss)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;5,577&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;15,790&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;13,120&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(9,001&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Net (loss) income from continuing operations&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(64,006&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;101,312&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(7,406&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(16,977&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;(Loss) income from discontinued operations&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(36&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(45&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;11&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;50&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Consolidated net (loss) income attributable to common stockholders&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(64,245&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;98,550&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(9,878&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(21,538&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;BASIC NET (LOSS) INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Net (loss) income from continuing operations per share&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(1.23&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right;"&gt;1.94&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(0.20&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(0.43&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;Net (loss) income from discontinued operations per share&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;(0.00&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;(0.00&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;0.00&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;0.00&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;Consolidated net (loss) income per share attributable to common stockholders&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;(1.23&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;1.94&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;(0.20&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;(0.43&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;DILUTED NET (LOSS) INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Net (loss) income from continuing operations per share&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(1.23&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right;"&gt;1.86&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(0.20&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(0.43&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;Net (loss) income from discontinued operations per share&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;(0.00&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;(0.00&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;0.00&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;0.00&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;Consolidated net (loss) income per share attributable to common stockholders&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;(1.23&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;1.86&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;(0.20&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;(0.43&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;WEIGHTED AVERAGE SHARES OUTSTANDING&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;Weighted average shares outstanding&amp;#160;&amp;#8212; basic&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;52,117,552&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;50,831,560&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;50,270,550&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;49,782,016&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;Weighted average shares outstanding&amp;#160;&amp;#8212; diluted&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;52,117,552&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;52,905,060&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;50,270,550&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;49,782,016&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="text-align: left; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;table style="width: 100%; border-collapse: collapse; font: 10pt times new roman, times, serif;" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="vertical-align: top;"&gt;
&lt;td style="text-align: left; width: 4%;"&gt;(a)&lt;/td&gt;
&lt;td style="text-align: justify; width: 96%;"&gt;The net loss from continuing operations for the quarter ended December&amp;#160;31, 2011 includes approximately $22.3 million of pre-tax impairment charges.&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="text-align: left; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: left; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: left; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;In its previously filed consolidated financial statements, the Company improperly classified cash payments for TV One content assets as investing activities rather than operating activities in its consolidated statements of cash flows for the interim periods ended June 30, 2011 and September 30, 2011. The classification errors had no effect on the reported changes in cash and cash equivalents, and also had no effect on the consolidated balance sheets, the consolidated statements of operations, or the consolidated statements of stockholders&amp;#8217; equity. The reclassification adjustment decreased cash flows from operating activities and increase cash flows from investing activities by approximately $2.3 million for the six months ended June 30, 2011 and by approximately $12.8 million for the&amp;#160;nine months ended&amp;#160;September 30, 2011.&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;The following table summarizes the effects of the restatement adjustments on the consolidated statements of cash flows (in thousands):&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="margin: 0pt 0px; font: 10pt times new roman, times, serif; color: red;"&gt;&lt;/p&gt;
&lt;p style="margin: 0pt 0px; font: 10pt times new roman, times, serif; color: red;"&gt;&lt;/p&gt;
&lt;table style="width: 100%; border-collapse: collapse; font: 10pt times new roman, times, serif;" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-size: 10pt; font-weight: bold;" colspan="10"&gt;Six Months Ended June 30, 2011&lt;/td&gt;
&lt;td style="text-align: center; padding-bottom: 1pt; font-size: 10pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; padding-bottom: 1pt; font-size: 10pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-size: 10pt; font-weight: bold;" colspan="10"&gt;Nine Months September 30, 2011&lt;/td&gt;
&lt;td style="text-align: center; padding-bottom: 1pt; font-size: 10pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: center; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; padding-bottom: 1pt; font-size: 10pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-size: 10pt; font-weight: bold;" colspan="2"&gt;As Previously Reported&lt;/td&gt;
&lt;td style="text-align: center; padding-bottom: 1pt; font-size: 10pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; padding-bottom: 1pt; font-size: 10pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-size: 10pt; font-weight: bold;" colspan="2"&gt;Adjustments&lt;/td&gt;
&lt;td style="text-align: center; padding-bottom: 1pt; font-size: 10pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; padding-bottom: 1pt; font-size: 10pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-size: 10pt; font-weight: bold;" colspan="2"&gt;As Restated&lt;/td&gt;
&lt;td style="text-align: center; padding-bottom: 1pt; font-size: 10pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; padding-bottom: 1pt; font-size: 10pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-size: 10pt; font-weight: bold;" colspan="2"&gt;As Previously Reported&lt;/td&gt;
&lt;td style="text-align: center; padding-bottom: 1pt; font-size: 10pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; padding-bottom: 1pt; font-size: 10pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-size: 10pt; font-weight: bold;" colspan="2"&gt;Adjustments&lt;/td&gt;
&lt;td style="text-align: center; padding-bottom: 1pt; font-size: 10pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; padding-bottom: 1pt; font-size: 10pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-size: 10pt; font-weight: bold;" colspan="2"&gt;As Restated&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; font-size: 10pt; font-weight: bold;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; font-size: 10pt; font-weight: bold;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; font-size: 10pt; font-weight: bold;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; font-size: 10pt; font-weight: bold;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; font-size: 10pt; font-weight: bold;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; font-size: 10pt; font-weight: bold;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; font-size: 10pt;"&gt;CASH FLOWS FROM OPERATING ACTIVITIES:&lt;/td&gt;
&lt;td style="font-size: 10pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-size: 10pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-size: 10pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-size: 10pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-size: 10pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-size: 10pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-size: 10pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-size: 10pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-size: 10pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-size: 10pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-size: 10pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-size: 10pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-size: 10pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-size: 10pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-size: 10pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-size: 10pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-size: 10pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-size: 10pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-size: 10pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; width: 38%; font-size: 10pt;"&gt;Payments for content assets&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; width: 1%; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left; width: 1%; font-size: 10pt;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right; width: 7%; font-size: 10pt;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; width: 1%; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; width: 1%; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left; width: 1%; font-size: 10pt;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right; width: 7%; font-size: 10pt;"&gt;(2,345&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; width: 1%; font-size: 10pt;"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; width: 2%; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left; width: 1%; font-size: 10pt;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right; width: 7%; font-size: 10pt;"&gt;(2,345&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; width: 1%; font-size: 10pt;"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; width: 1%; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left; width: 1%; font-size: 10pt;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right; width: 7%; font-size: 10pt;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; width: 1%; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; width: 2%; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left; width: 1%; font-size: 10pt;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right; width: 7%; font-size: 10pt;"&gt;(12,761&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; width: 1%; font-size: 10pt;"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; width: 1%; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left; width: 1%; font-size: 10pt;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right; width: 7%; font-size: 10pt;"&gt;(12,761&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; width: 1%; font-size: 10pt;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; font-size: 10pt;"&gt;Net cash flows provided by (used in) operating activities&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right; font-size: 10pt;"&gt;2,136&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right; font-size: 10pt;"&gt;(2,345&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; font-size: 10pt;"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right; font-size: 10pt;"&gt;(209&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; font-size: 10pt;"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right; font-size: 10pt;"&gt;29,111&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right; font-size: 10pt;"&gt;(12,761&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; font-size: 10pt;"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right; font-size: 10pt;"&gt;16,350&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; font-size: 10pt;"&gt;CASH FLOWS FROM INVESTING ACTIVITIES:&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; font-size: 10pt;"&gt;Payments for content assets&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right; font-size: 10pt;"&gt;(2,345&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; font-size: 10pt;"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right; font-size: 10pt;"&gt;2,345&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right; font-size: 10pt;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right; font-size: 10pt;"&gt;(12,761&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; font-size: 10pt;"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right; font-size: 10pt;"&gt;12,761&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right; font-size: 10pt;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; font-size: 10pt;"&gt;Net cash flows provided by (used in) investing activities&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right; font-size: 10pt;"&gt;59,290&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right; font-size: 10pt;"&gt;2,345&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right; font-size: 10pt;"&gt;61,635&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right; font-size: 10pt;"&gt;47,074&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right; font-size: 10pt;"&gt;12,761&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right; font-size: 10pt;"&gt;59,835&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; font-size: 10pt;"&gt;CASH FLOWS FROM FINANCING ACTIVITIES:&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; font-size: 10pt;"&gt;Net cash flows used in financing activities&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right; font-size: 10pt;"&gt;(40,729&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; font-size: 10pt;"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right; font-size: 10pt;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right; font-size: 10pt;"&gt;(40,729&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; font-size: 10pt;"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right; font-size: 10pt;"&gt;(52,206&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; font-size: 10pt;"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right; font-size: 10pt;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right; font-size: 10pt;"&gt;(52,206&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; font-size: 10pt;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt; font-size: 10pt;"&gt;INCREASE IN CASH AND CASH EQUIVALENTS&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left; font-size: 10pt;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right; font-size: 10pt;"&gt;20,697&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left; font-size: 10pt;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right; font-size: 10pt;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left; font-size: 10pt;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right; font-size: 10pt;"&gt;20,697&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left; font-size: 10pt;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right; font-size: 10pt;"&gt;23,979&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left; font-size: 10pt;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right; font-size: 10pt;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left; font-size: 10pt;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right; font-size: 10pt;"&gt;23,979&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="margin: 0pt 0px; font: 10pt times new roman, times, serif; color: red;"&gt;&lt;/p&gt;
&lt;p style="text-align: left; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;/p&gt;
&lt;p style="text-align: left; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: left; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;/p&gt;
&lt;p style="text-align: left; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: left; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;table style="width: 100%; font: 10pt times new roman, times, serif;" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="14" nowrap="nowrap"&gt;Quarters Ended&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;March&amp;#160;31&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;June&amp;#160;30&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;September&amp;#160;30&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;December&amp;#160;31(a)&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; font-weight: bold;" colspan="14"&gt;(In thousands, except share data)&lt;/td&gt;
&lt;td style="font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;2010:&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; width: 56%;"&gt;Net revenue&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 8%;"&gt;58,980&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 8%;"&gt;75,194&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 8%;"&gt;74,430&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 8%;"&gt;71,163&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Operating income (loss)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;3,854&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;13,798&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;17,326&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(19,739&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Net (loss) income from continuing operations&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(4,615&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;2,638&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;2,206&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(26,523&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Income (loss) from discontinued operations&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;18&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(144&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(158&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(47&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Consolidated net (loss) income attributable to common stockholders&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(4,568&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;2,048&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;1,038&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(27,151&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;BASIC NET (LOSS) INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Net (loss) income from continuing operations per share&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(0.09&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right;"&gt;0.04&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right;"&gt;0.02&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(0.52&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;Net (loss) income from discontinued operations per share&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;(0.00&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;(0.00&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;(0.00&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;0.00&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;Consolidated net (loss) income per share attributable to common stockholders&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;(0.09&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;0.04&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;0.02&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;(0.52&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;DILUTED NET (LOSS) INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Net (loss) income from continuing operations per share&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(0.09&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right;"&gt;0.04&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right;"&gt;0.02&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(0.52&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;Net (loss) income from discontinued operations per share&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;(0.00&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;(0.00&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;(0.00&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;0.00&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;Consolidated net (loss) income per share attributable to common stockholders&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;(0.09&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;0.04&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;0.02&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;(0.52&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;WEIGHTED AVERAGE SHARES OUTSTANDING&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;Weighted average shares outstanding&amp;#160;&amp;#8212; basic&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;50,844,148&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;51,054,572&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;52,064,108&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;52,087,460&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;Weighted average shares outstanding&amp;#160;&amp;#8212; diluted&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;50,844,148&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;54,302,885&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;54,262,885&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;52,087,460&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="text-align: left; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;table style="width: 100%; border-collapse: collapse; font: 10pt times new roman, times, serif;" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="vertical-align: top;"&gt;
&lt;td style="text-align: left; width: 4%;"&gt;(a)&lt;/td&gt;
&lt;td style="text-align: justify; width: 96%;"&gt;The net loss from continuing operations for the quarter ended December&amp;#160;31, 2010 includes approximately $36.1 million of pre-tax impairment charges.&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;</us-gaap:QuarterlyFinancialInformationTextBlock>
<us-gaap:SegmentReportingDisclosureTextBlock contextRef="Context_FYE_31-Dec-2011">&lt;p style="text-align: left; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;b&gt;20.&amp;#160;&amp;#160;SEGMENT INFORMATION:&lt;/b&gt;&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;The Company has four reportable segments: &lt;font style="background-color: white;"&gt;(i) Radio Broadcasting; (ii) Reach Media; (iii) Internet; and (iv) Cable Television&lt;/font&gt;. These segments operate in the United States and are consistently aligned with the Company&amp;#8217;s management of its businesses and its financial reporting structure.&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;The Radio Broadcasting segment consists of all broadcast results of operations. The Company aggregates the broadcast markets in which it operates into the Radio Broadcasting segment. The Reach Media segment consists of the results of operations for the Tom Joyner Morning Show and related activities. The Internet segment includes the results of our online business, including the operations of Interactive One and CCI. The Cable Television segment consists of TV One&amp;#8217;s results of operations. Corporate/Eliminations/Other represents financial activity associated with our corporate staff and offices and intercompany activity among the four segments.&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;Operating loss or income represents total revenues less operating expenses, depreciation and amortization, and impairment of long-lived assets. Intercompany revenue earned and expenses charged between segments are recorded at fair value and eliminated in consolidation.&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;The accounting policies described in the summary of significant accounting policies in Note 1 &amp;#8211; &lt;i&gt;Organization and Summary of Significant Accounting Policies&lt;/i&gt; are applied consistently across the segments.&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;Detailed segment data for the years ended December 31, 2011, 2010 and 2009 is presented in the following table:&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;table style="width: 100%; font: 10pt times new roman, times, serif;" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="10"&gt;For&amp;#160;the&amp;#160;Years&amp;#160;Ended&amp;#160;December&amp;#160;31,&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2"&gt;2011&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2"&gt;2010&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2"&gt;2009&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; font-weight: bold;" colspan="10"&gt;(In thousands)&lt;/td&gt;
&lt;td style="font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Net Revenue:&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; width: 64%;"&gt;Radio Broadcasting&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 9%;"&gt;221,396&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 9%;"&gt;229,314&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 9%;"&gt;218,018&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Reach Media&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;48,382&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;41,773&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;45,825&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Internet&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;17,529&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;16,027&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;14,044&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Cable Television&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;86,024&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;Corporate/Eliminations/Other&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;(8,722&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;(7,394&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;(6,010&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;Consolidated&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;364,609&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;279,720&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;271,877&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Operating Expenses (including stock-based compensation):&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Radio Broadcasting&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right;"&gt;138,961&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right;"&gt;135,809&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right;"&gt;125,414&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Reach Media&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;41,426&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;34,817&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;32,026&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Internet&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;20,062&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;22,737&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;23,046&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Cable Television&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;61,369&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;Corporate/Eliminations/Other&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;17,905&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;17,636&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;10,560&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;Consolidated&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;279,723&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;210,999&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;191,046&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Depreciation and Amortization:&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Radio Broadcasting&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right;"&gt;6,705&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right;"&gt;7,080&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right;"&gt;9,383&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Reach Media&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;3,952&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;4,249&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;3,934&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Internet&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;3,694&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;4,942&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;6,408&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Cable Television&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;21,790&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;Corporate/Eliminations/Other&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;928&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;1,114&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;1,239&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;Consolidated&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;37,069&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;17,385&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;20,964&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Impairment of Long-Lived Assets:&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Radio Broadcasting&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right;"&gt;14,509&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right;"&gt;19,949&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right;"&gt;65,937&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Reach Media&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;7,822&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;16,114&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Internet&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Cable Television&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;Corporate/Eliminations/Other&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;Consolidated&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;22,331&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;36,063&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;65,937&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Operating income (loss):&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Radio Broadcasting&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right;"&gt;61,221&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right;"&gt;66,476&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right;"&gt;17,284&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Reach Media&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(4,818&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(13,407&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;9,865&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Internet&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(6,227&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(11,652&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(15,410&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Cable Television&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;2,865&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;Corporate/Eliminations/Other&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;(27,555&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;(26,144&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;(17,809&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;Consolidated&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;25,486&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;15,273&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;(6,070&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="margin: 0px;"&gt;&amp;#160;&lt;/p&gt;
&lt;table style="width: 100%; font: 10pt times new roman, times, serif;" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="6"&gt;As&amp;#160;of&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2"&gt;December&amp;#160;31,&lt;br  /&gt;2011&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2"&gt;December&amp;#160;31,&lt;br  /&gt;2010&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; font-weight: bold;" colspan="6"&gt;(In thousands)&lt;/td&gt;
&lt;td style="font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Total Assets:&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; width: 74%;"&gt;Radio Broadcasting&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 10%;"&gt;806,822&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 10%;"&gt;846,260&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Reach Media&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;33,737&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;47,900&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Internet&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;33,265&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;33,698&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Cable Television&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;561,325&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;Corporate/Eliminations/Other&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;51,333&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;71,354&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;Consolidated&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;1,486,482&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;999,212&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="text-align: left; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;</us-gaap:SegmentReportingDisclosureTextBlock>

<us-gaap:SubsequentEventsTextBlock contextRef="Context_FYE_31-Dec-2011">&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;b&gt;22.&amp;#160;&amp;#160;SUBSEQUENT EVENTS:&lt;/b&gt;&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;Effective January 1, 2012, the Company amended existing affiliate agreements with Reach Media. The cash affiliation fees between Reach Media and the Company are waived for the period covered by the agreement. In addition, for the period February 28, 2015 to February 28, 2016, Reach Media will have an additional minute of commercial inventory to sell. The amended affiliate agreements expire on February 28, 2016.&lt;/p&gt;
&lt;p style="text-align: left; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;Effective March 16, 2012, Barry Mayo, President &amp;#8211; Radio Division, resigned as an officer of the Company to pursue other opportunities.&lt;/p&gt;</us-gaap:SubsequentEventsTextBlock>
<us-gaap:ScheduleOfValuationAndQualifyingAccountsDisclosureTextBlock contextRef="Context_FYE_31-Dec-2011">&lt;p style="text-align: center; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;b&gt;RADIO ONE, INC. AND SUBSIDIARIES&lt;/b&gt;&lt;/p&gt;
&lt;p style="text-align: left; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: center; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;b&gt;SCHEDULE&amp;#160;II&amp;#160;&amp;#8212; VALUATION AND QUALIFYING ACCOUNTS&lt;/b&gt;&lt;/p&gt;
&lt;p style="text-align: center; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;b&gt;For the Years Ended December&amp;#160;31, 2011, 2010 and 2009&lt;/b&gt;&lt;/p&gt;
&lt;p style="text-align: left; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;table style="width: 100%; font: 10pt times new roman, times, serif;" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;"&gt;Description&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2"&gt;Balance&lt;br  /&gt;at&lt;br  /&gt;Beginning&lt;br  /&gt;of&amp;#160;Year&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2"&gt;Additions&lt;br  /&gt;Charged&lt;br  /&gt;to&lt;br  /&gt;Expense&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2"&gt;Acquired&lt;br  /&gt;from&lt;br  /&gt;Acquisitions&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2"&gt;Deductions&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2"&gt;Balance&lt;br  /&gt;at&amp;#160;End&lt;br  /&gt;of&amp;#160;Year&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; font-weight: bold;" colspan="18"&gt;(In thousands)&lt;/td&gt;
&lt;td style="font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Allowance for Doubtful Accounts:&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; width: 35%;"&gt;2011&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 10%;"&gt;3,023&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 10%;"&gt;1,840&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 10%;"&gt;1,123&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 10%;"&gt;2,267&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 10%;"&gt;3,719&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;2010&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;2,651&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;2,616&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;2,244&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;3,023&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;2009&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;3,520&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;2,124&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;2,993&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;2,651&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="text-align: left; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;table style="width: 100%; font: 10pt times new roman, times, serif;" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;"&gt;Description&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2"&gt;Balance&lt;br  /&gt;at&lt;br  /&gt;Beginning&lt;br  /&gt;of&amp;#160;Year&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2"&gt;Additions&lt;br  /&gt;Charged&lt;br  /&gt;to&lt;br  /&gt;Expense&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2"&gt;Acquired&lt;br  /&gt;from&lt;br  /&gt;Acquisitions&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2"&gt;Deductions&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2"&gt;Balance&lt;br  /&gt;at&amp;#160;End&lt;br  /&gt;of&amp;#160;Year&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; font-weight: bold;" colspan="18"&gt;(In thousands)&lt;/td&gt;
&lt;td style="font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Valuation Allowance for&lt;br  /&gt;Deferred&amp;#160;Tax Assets:&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; width: 35%;"&gt;2011&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 10%;"&gt;230,359&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 10%;"&gt;14,015&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 10%;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 10%;"&gt;553&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 10%;"&gt;244,927&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;2010&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;228,019&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;2,084&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;256&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;230,359&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;2009&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;205,756&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;21,958&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;305&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;228,019&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="text-align: right; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;</us-gaap:ScheduleOfValuationAndQualifyingAccountsDisclosureTextBlock>
<us-gaap:ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest contextRef="Context_FYE_31-Dec-2009" unitRef="USD" decimals="-3">-47663000</us-gaap:ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest>
<us-gaap:ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest contextRef="Context_FYE_31-Dec-2010" unitRef="USD" decimals="-3">-25963000</us-gaap:ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest>
<us-gaap:ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest contextRef="Context_FYE_31-Dec-2011" unitRef="USD" decimals="-3">12862000</us-gaap:ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest>
<us-gaap:ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest contextRef="Context_FYE_31-Dec-2009" unitRef="USD" decimals="-3">4329000</us-gaap:ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest>
<us-gaap:ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest contextRef="Context_FYE_31-Dec-2010" unitRef="USD" decimals="-3">2008000</us-gaap:ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest>
<us-gaap:ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest contextRef="Context_FYE_31-Dec-2011" unitRef="USD" decimals="-3">10014000</us-gaap:ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest>
<roia:RestatementOfConsolidatedFinancialStatementsDisclosureTextBlock contextRef="Context_FYE_31-Dec-2011">&lt;p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;b&gt;2. RESTATEMENT OF CONSOLIDATED FINANCIAL STATEMENTS:&lt;/b&gt;&lt;/p&gt;
&lt;p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;In its previously filed consolidated financial statements, the Company improperly classified cash payments for TV One content assets as investing activities rather than operating activities in its consolidated statement of cash flows for the year ended December 31, 2011. The classification errors had no effect on the reported changes in cash and cash equivalents in any period, and also had no effect on the consolidated balance sheet, the consolidated statement of operations, or the consolidated statement of stockholders&amp;#8217; equity for any period. The reclassification adjustment decreased cash flows from operating activities and increased cash flows from investing activities by approximately $23.4 million&amp;#160;for the year ended December 31, 2011. The consolidated statements of cash flows for the years ended December 31, 2010 and 2009 were unaffected by this errors.&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;The following table summarizes the effects of the restatement adjustments on the consolidated statements of cash flows for the year ended December 31, 2011 (in thousands):&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;table align="center" style="width: 85%; border-collapse: collapse; font: 10pt times new roman, times, serif;" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="10" nowrap="nowrap"&gt;Year Ended December 31, 2011&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;As&lt;br  /&gt;Previously&lt;br  /&gt;Reported&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;Adjustments&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;As&lt;br  /&gt;Restated&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; font-weight: bold;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; font-weight: bold;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; font-weight: bold;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;CASH FLOWS FROM OPERATING ACTIVITIES:&lt;/td&gt;
&lt;td style="font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; width: 55%;"&gt;Payments for content assets&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right; width: 12%;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right; width: 12%;"&gt;(23,412&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; width: 1%;"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right; width: 12%;"&gt;(23,412&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; width: 1%;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;Net cash flows provided by (used in) operating activities&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;55,018&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;(23,412&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;31,606&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;CASH FLOWS FROM INVESTING ACTIVITIES:&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;Payments for content assets&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;(23,412&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;23,412&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;Net cash flows provided by (used in) investing activities&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;32,388&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;23,412&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;55,800&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;CASH FLOWS FROM FINANCING ACTIVITIES:&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;Net cash flows used in financing activities&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;(60,659&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;(60,659&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;INCREASE IN CASH AND CASH EQUIVALENTS&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;26,747&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;26,747&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;</roia:RestatementOfConsolidatedFinancialStatementsDisclosureTextBlock>
<roia:LaunchAssetsNoncurrent contextRef="Context_As_Of_31-Dec-2010" unitRef="USD" decimals="-3">0</roia:LaunchAssetsNoncurrent>
<roia:LaunchAssetsNoncurrent contextRef="Context_As_Of_31-Dec-2011" unitRef="USD" decimals="-3">32437000</roia:LaunchAssetsNoncurrent>
<roia:RepurchaseOfCommonStockValueOne contextRef="Context_FYE_31-Dec-2011" unitRef="USD" decimals="-3">-9401000</roia:RepurchaseOfCommonStockValueOne>

<roia:RepurchaseOfCommonStockValueOne contextRef="Context_FYE_31-Dec-2011_StatementEquityComponentsAxis_PreferredStockMember" unitRef="USD" decimals="-3">0</roia:RepurchaseOfCommonStockValueOne>
<roia:RepurchaseOfCommonStockValueOne contextRef="Context_FYE_31-Dec-2011_StatementEquityComponentsAxis_CommonClassCMember" unitRef="USD" decimals="-3">0</roia:RepurchaseOfCommonStockValueOne>
<roia:RepurchaseOfCommonStockValueOne contextRef="Context_FYE_31-Dec-2011_StatementEquityComponentsAxis_CommonClassDMember" unitRef="USD" decimals="-3">-4000</roia:RepurchaseOfCommonStockValueOne>
<roia:RepurchaseOfCommonStockValueOne contextRef="Context_FYE_31-Dec-2011_StatementEquityComponentsAxis_CommonClassAMember" unitRef="USD" decimals="-3">0</roia:RepurchaseOfCommonStockValueOne>
<roia:RepurchaseOfCommonStockValueOne contextRef="Context_FYE_31-Dec-2011_StatementEquityComponentsAxis_AccumulatedOtherComprehensiveIncomeMember" unitRef="USD" decimals="-3">0</roia:RepurchaseOfCommonStockValueOne>
<roia:RepurchaseOfCommonStockValueOne contextRef="Context_FYE_31-Dec-2011_StatementEquityComponentsAxis_RetainedEarningsMember" unitRef="USD" decimals="-3">0</roia:RepurchaseOfCommonStockValueOne>
<roia:RepurchaseOfCommonStockValueOne contextRef="Context_FYE_31-Dec-2011_StatementEquityComponentsAxis_AdditionalPaidInCapitalMember" unitRef="USD" decimals="-3">-9397000</roia:RepurchaseOfCommonStockValueOne>
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<!-- Footnote Section -->
<link:footnoteLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
</link:footnoteLink>
<us-gaap:ComprehensiveIncomeNetOfTax contextRef="Context_FYE_31-Dec-2009" unitRef="USD" decimals="-3">-51992000</us-gaap:ComprehensiveIncomeNetOfTax>
<us-gaap:ComprehensiveIncomeNetOfTax contextRef="Context_FYE_31-Dec-2010" unitRef="USD" decimals="-3">-27971000</us-gaap:ComprehensiveIncomeNetOfTax>
<us-gaap:ComprehensiveIncomeNetOfTax contextRef="Context_FYE_31-Dec-2011" unitRef="USD" decimals="-3">2848000</us-gaap:ComprehensiveIncomeNetOfTax>
<us-gaap:OrganizationConsolidationBasisOfPresentationBusinessDescriptionAndAccountingPoliciesTextBlock contextRef="Context_FYE_31-Dec-2011">&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;b&gt;1.&amp;#160;&amp;#160;ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES:&lt;/b&gt;&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;b&gt;&lt;i&gt;&amp;#160;&amp;#160;(a)&amp;#160;&amp;#160;Organization&lt;/i&gt;&lt;/b&gt;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;Radio One, Inc. (a Delaware corporation referred to as &amp;#8220;Radio One&amp;#8221;) and its subsidiaries (collectively, the &amp;#8220;Company&amp;#8221;) is an urban-oriented, multi-media company that primarily targets African-American and urban consumers. Our core business is our radio broadcasting franchise that is the largest radio broadcasting operation that primarily targets African-American and urban listeners. We currently own and operate 53&amp;#160;broadcast stations located in 15 urban markets in the United States.&amp;#160;&amp;#160;While our primary source of revenue is the sale of local and national advertising for broadcast on our radio stations, our operating strategy is to operate the premier multi-media entertainment and information content provider targeting African-American and urban consumers. Thus, we have diversified our revenue streams by making acquisitions and investments in other complementary media properties. Our other media interests include our approximately 51.0% (See Note&amp;#160;2&amp;#160;&amp;#8212; &lt;i&gt;Acquisitions&lt;/i&gt;) controlling ownership interest in TV One, LLC (&amp;#8220;TV One&amp;#8221;), an African-American targeted cable television network that we invested in with an affiliate of Comcast Corporation and other investors; our 53.5% ownership interest in Reach Media, Inc. (&amp;#8220;Reach Media&amp;#8221;), which operates the Tom Joyner Morning Show; our ownership of Interactive One, LLC (&amp;#8220;Interactive One&amp;#8221;), an online platform serving the African-American community through social content, news, information, and entertainment, which operates a number of branded sites, including News One, UrbanDaily and HelloBeautiful; and our ownership of Community Connect, LLC (formerly Community Connect Inc.) (&amp;#8220;CCI&amp;#8221;), an online social networking company, which operates a number of branded websites, including BlackPlanet, MiGente and Asian Avenue.&amp;#160; CCI is included within the operations of Interactive One. Through our national multi-media presence, we provide advertisers with a unique and powerful delivery mechanism to the African-American and urban audience.&amp;#160;&amp;#160;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;In December 2009, the Company ceased publication of our urban-themed lifestyle periodical Giant Magazine. Further, as of June 2011, our remaining Boston radio station was made the subject of a local marketing agreement (&amp;#8220;LMA&amp;#8221;) whereby we &lt;font style="color: black;"&gt;have made available, for a fee, air time on this station to another party&lt;/font&gt;. The remaining assets and liabilities of Giant Magazine, as well as stations sold or stations that we do not operate that are the subject of an LMA, have been classified as discontinued operations as of December 31, 2011 and 2010, and Giant Magazine&amp;#8217;s and the Boston station&amp;#8217;s results from operations for the years ended December 31, 2011, 2010 and 2009, have been reclassified as discontinued operations in the accompanying consolidated financial statements.&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;As part of our consolidated financial statements, consistent with our financial reporting structure and how the Company currently manages its businesses, we have provided selected financial information on the Company&amp;#8217;s four reportable segments: (i) Radio Broadcasting; (ii) Reach Media; (iii) Internet; and (iv) Cable Television (See Note 19 &amp;#8211;&lt;i&gt; Segment Information&lt;/i&gt;.)&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;b&gt;&lt;i&gt;&amp;#160;&amp;#160;(b)&amp;#160;&amp;#160;Basis of Presentation&lt;/i&gt;&lt;/b&gt;&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;The consolidated financial statements are prepared in conformity with accounting principles generally accepted in the United States and require management to make certain estimates and assumptions. These estimates and assumptions may affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities as of the date of the financial statements.&amp;#160;&amp;#160;The Company bases these estimates on historical experience, current economic environment or various other assumptions that are believed to be reasonable under the circumstances.&amp;#160;&amp;#160;However, uncertainties associated with the continuing economic weakness and disruption in financial markets increase the possibility that actual results may differ from these estimates.&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;b&gt;&lt;i&gt;&amp;#160;&amp;#160;(c)&amp;#160;&amp;#160;Principles of Consolidation&lt;/i&gt;&lt;/b&gt;&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;The consolidated financial statements include the accounts of Radio One and subsidiaries in which Radio One has a controlling interest. In February 2005, the Company acquired a controlling interest in Reach Media and began consolidating Reach Media for financial reporting purposes. Beginning on April 14, 2011, the Company began to account for TV One on a consolidated basis after having executed an amendment to the TV One operating agreement with the remaining members of TV One concerning certain governance issues. All significant intercompany accounts and transactions have been eliminated in consolidation. Noncontrolling interests have been recognized where a controlling interest exists, but the Company owns less than 100% of the controlled entity. The equity method of accounting is used for investments in affiliates over which Radio One has significant influence (ownership between 20% and 50%), but does not control the affiliate. Investments in affiliates in which Radio One cannot exercise significant influence (ownership interest less than 20%) are accounted for using the cost method.&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;Prior to the consolidation date of TV One, the Company accounted for its investment in TV One under the equity method of accounting in accordance with Accounting Standards Codification (&amp;#8220;ASC&amp;#8221;) 323, &lt;i&gt;&amp;#8220;Investments &amp;#8211; Equity Method and Joint Ventures.&amp;#8221;&lt;/i&gt;&amp;#160;&amp;#160;The Company had adjusted the carrying amount of its investment to recognize the change in Radio One&amp;#8217;s claim on the net assets of TV One resulting from income or losses of TV One, as well as other capital transactions of TV One using a hypothetical liquidation at book value approach.&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;b&gt;&lt;i&gt;&amp;#160;&amp;#160;(d)&amp;#160;&amp;#160;Cash and Cash Equivalents&lt;/i&gt;&lt;/b&gt;&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;Cash and cash equivalents consist of cash, repurchase agreements and money market funds at various commercial banks that have original maturities of 90&amp;#160;days or less. Investments with contractual maturities of 90 days or less from the date of original purchase are classified as cash and cash equivalents. For cash and cash equivalents, cost approximates fair value.&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;b&gt;&lt;i&gt;&amp;#160;&amp;#160;(e)&amp;#160;&amp;#160;Trade Accounts Receivable&lt;/i&gt;&lt;/b&gt;&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;Trade accounts receivable is recorded at the invoiced amount. The allowance for doubtful accounts is the Company&amp;#8217;s estimate of the amount of probable losses in the Company&amp;#8217;s existing accounts receivable. The Company determines the allowance based on the aging of the receivables, the impact of economic conditions on the advertisers&amp;#8217; ability to pay and other factors. Inactive delinquent accounts that are past due beyond a certain amount of days are written off and often pursued by other collection efforts. Bankruptcy accounts&amp;#160;are immediately written off upon receipt of the bankruptcy notice from the courts.&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;table style="width: 100%; font: 10pt times new roman, times, serif;" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="vertical-align: top;"&gt;
&lt;td style="text-align: justify; font-style: italic; width: 36px; font-weight: bold;"&gt;(f)&amp;#160;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: justify; font-style: italic; font-weight: bold;"&gt;Goodwill and Radio Broadcasting Licenses&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;In connection with past acquisitions, a significant amount of the purchase price was allocated to radio broadcasting licenses, goodwill and other intangible assets. Goodwill consists of the excess of the purchase price over the fair value of tangible and identifiable intangible net assets acquired. In accordance with ASC 350, &amp;#8220;&lt;i&gt;Intangibles - Goodwill and Other,&amp;#8221; &lt;/i&gt;goodwill and radio broadcasting licenses are not amortized, but are tested annually for impairment at the reporting unit level and unit of accounting level, respectively. We test for impairment annually, on October 1 of each year, or more frequently when events or changes in circumstances or other conditions suggest impairment may have occurred. Impairment exists when the asset carrying values exceed their respective fair values, and the excess is then recorded to operations as an impairment charge. With the assistance of a third-party valuation firm, we test for license impairment at the unit of accounting level using the income approach, which involves, but is not limited to, judgmental estimates and assumptions about projected revenue growth, future operating margins, discount rates and terminal values. In testing for goodwill impairment, we follow a two-step approach, also relying primarily on the income approach that first estimates the fair value of the reporting unit. If the carrying value of the reporting unit exceeds its fair value, we then determine&amp;#160;the implied goodwill after allocating the reporting unit&amp;#8217;s fair value of assets and liabilities in accordance with ASC 805-10, &lt;i&gt;&amp;#8220;Business Combinations&lt;/i&gt;.&amp;#8221; Any excess of carrying value of the reporting unit&amp;#8217;s goodwill balance over its respective implied goodwill is written off as a charge to operations. We then perform a market-based reasonableness test by comparing the average implied multiple arrived at based on our cash flow projections and estimated fair values to multiples for actual recently completed sale transactions and by comparing our estimated fair values to the market capitalization of the Company.&lt;/p&gt;
&lt;p style="text-align: left; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;For the three years ended December 31, 2011, 2010 and 2009, the Company recorded broadcasting license and goodwill impairment charges of approximately $14.5 million, $36.1 million, $65.6 million, respectively. See Note 5 &amp;#8212;&lt;i&gt; Goodwill, Radio Broadcasting Licenses and Other Intangible Assets&lt;/i&gt; for a further discussion of impairment considerations for the financial statement periods presented.&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;b&gt;&lt;i&gt;&amp;#160;&amp;#160;(g)&amp;#160;&amp;#160;Impairment of Long-Lived Assets, Excluding Goodwill and Radio&lt;/i&gt;&lt;/b&gt; &lt;b&gt;&lt;i&gt;Broadcasting Licenses&lt;/i&gt;&lt;/b&gt;&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;The Company accounts for the impairment of long-lived intangible assets, excluding goodwill and radio broadcasting licenses, in accordance with ASC 360, &lt;i&gt;&amp;#8220;Property, Plant and Equipment&lt;/i&gt;.&amp;#8221; Long-lived intangible assets, excluding goodwill and radio broadcasting licenses, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset or group of assets may not be fully recoverable. These events or changes in circumstances may include a significant deterioration in operating results, changes in business plans, or changes in anticipated future cash flows. If an impairment indicator is present, the Company evaluates recoverability by a comparison of the carrying amount of the assets to future undiscounted net cash flows expected to be generated by the assets. Assets are grouped at the lowest levels for which there are identifiable cash flows that are largely independent of the cash flows generated by other asset groups. If the assets are impaired, the impairment recognized is measured by the amount by which the carrying amount exceeds the fair value of the assets. Fair value is generally determined by estimates of discounted future cash flows. The discount rate used in any estimate of discounted cash flows would be the rate of return for a similar investment of like risk. During 2011, impairment indicators existed for Reach Media and Columbus and, as a result, we performed impairment testing for asset groups within these reporting units. The Company recorded impairment charges of approximately $7.8 million related to the long-lived assets of Reach Media during 2011. The Company reviewed other intangibles during 2010 and concluded that no impairment to the carrying value of the other intangibles was required. For the year ended December 31, 2009, $297,000 was recorded for impairment of intangible assets other than goodwill and FCC licenses.&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;b&gt;&lt;i&gt;&amp;#160;&amp;#160;(h)&amp;#160;&amp;#160;Financial Instruments&lt;/i&gt;&lt;/b&gt;&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;Financial instruments as of December 31, 2011 and 2010 consisted of cash and cash equivalents, investments, trade accounts receivable, accounts payable, accrued expenses, note payable, long-term debt and redeemable noncontrolling interests. The carrying amounts approximated fair value for each of these financial instruments as of December 31, 2011 and 2010, except for the Company&amp;#8217;s outstanding senior subordinated notes. The 6&amp;#8540;%&amp;#160;Senior Subordinated Notes due February 2013 had a carrying value of $747,000 and a fair value of approximately $710,000 as of December 31, 2011, and a carrying value of $747,000 and a fair value of approximately $672,000 as of December 31, 2010. The 12&lt;sup&gt;1&lt;/sup&gt;/&lt;sub&gt;2&lt;/sub&gt;%/15%&amp;#160;Senior Subordinated Notes due May 2016 had a carrying value of $312.8 million and a fair value of approximately $262.8 million as of December 31, 2011, and a carrying value of $286.8 million and a fair value of approximately $278.2 million as of December 31, 2010. The fair values were determined based on the trading&amp;#160;values of&amp;#160;these instruments as of the reporting date.&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;b&gt;&lt;i&gt;&amp;#160;&amp;#160;(i)&amp;#160;&amp;#160;Derivative Financial Instruments&lt;/i&gt;&lt;/b&gt;&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;The Company recognizes all derivatives at fair value in the balance sheet as either an asset or liability. The accounting for changes in the fair value of a derivative, including certain derivative instruments embedded in other contracts, depends on the intended use of the derivative and the resulting designation. If the derivative is designated as a fair value hedge, the changes in the fair value of the derivative and the hedged item are recognized in the statement of operations. If the derivative is designated as a cash flow hedge, changes in the fair value of the derivative are recorded in other comprehensive income and are recognized in the statement of operations when the hedged item affects net income. If a derivative does not qualify as a hedge, it is marked to fair value through the statement of operations.&amp;#160;(See Note&amp;#160;10 &amp;#8211; &lt;i&gt;Derivative Instruments and Hedging Activities&lt;/i&gt;.)&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;b&gt;&lt;i&gt;&amp;#160;&amp;#160;(j)&amp;#160;&amp;#160;Revenue Recognition&lt;/i&gt;&lt;/b&gt;&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;Within our radio broadcasting and Reach Media segments, the Company recognizes revenue for broadcast advertising when a commercial is broadcast and is reported, net of agency and outside sales representative commissions, in accordance with&amp;#160;Accounting Standards Codification (&amp;#8220;ASC&amp;#8221;) 605, &amp;#8220;&lt;i&gt;Revenue Recognition&lt;/i&gt;.&amp;#8221;&amp;#160;&amp;#160;Agency and outside sales representative commissions are calculated based on a stated percentage applied to gross billing. Generally, clients remit the gross billing amount to the agency or outside sales representative, and the agency or outside sales representative remits the gross billing, less their commission, to the Company. For our radio broadcasting and Reach Media segments, agency and outside sales representative commissions were approximately $31.8 million, $32.0 million and $28.4&amp;#160;million for the years ended December 31, 2011, 2010 and 2009, respectively.&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;Interactive One, &lt;font style="color: black;"&gt;the primary driver of revenue in our internet segment, &lt;/font&gt;generates the majority of the Company&amp;#8217;s internet revenue, and derives such revenue principally from advertising services, including advertising aimed at diversity recruiting. Advertising services include the sale of banner and sponsorship advertisements.&amp;#160;&amp;#160;Advertising revenue is recognized either as impressions (the number of times advertisements appear in viewed pages) are delivered, when &amp;#8220;click through&amp;#8221; purchases or leads are reported, or ratably over the contract period, where applicable.&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;TV One, the driver of revenues in our &lt;font style="color: black;"&gt;Cable Television segment,&lt;/font&gt; derives advertising revenue from the sale of television air time to advertisers and recognizes revenue when the advertisements are run. TV One also receives affiliate fees and records revenue during the term of various affiliation agreements at levels appropriate for the most recent subscriber counts reported by the applicable affiliate.&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;b&gt;&lt;i&gt;&amp;#160;&amp;#160;(k)&amp;#160;&amp;#160;Barter Transactions&lt;/i&gt;&lt;/b&gt;&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;The Company provides broadcast advertising time in exchange for programming content and certain services and accounts for these exchanges in accordance with ASC 605, &amp;#8220;&lt;i&gt;Revenue Recognition&lt;/i&gt;.&amp;#8221; The terms of these exchanges generally permit the Company to preempt such broadcast time in favor of advertisers who purchase time in exchange for cash. The Company includes the value of such exchanges in both broadcasting net revenue and station operating expenses. The valuation of barter time is based upon the fair value of the network advertising time provided for the programming content and services received. For the years ended December 31, 2011, 2010 and 2009, barter transaction revenues were approximately $3.2 million, $3.2 million and $3.2 million, respectively. Additionally, barter transaction costs were reflected in programming and technical expenses and selling, general and administrative expenses of approximately $3.0 million, $2.9 million and&amp;#160;$3.0 million, and $238,000, $244,000 and $166,000, for the years ended December 31, 2011, 2010 and 2009, respectively.&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;b&gt;&lt;i&gt;&amp;#160;&amp;#160;(l)&amp;#160;&amp;#160;Network Affiliation Agreements&lt;/i&gt;&lt;/b&gt;&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;The Company has network affiliation agreements classified as Other Intangible Assets. These agreements are amortized over their useful lives. Losses on contract terminations are determined based on the specifics of each contract in accordance with ASC 920-350, &lt;i&gt;&amp;#8220;Entertainment Broadcasters.&amp;#8221; &lt;/i&gt;(See Note&amp;#160;5&amp;#160;&amp;#8212; &lt;i&gt;Goodwill, Radio Broadcasting Licenses and Other Intangible&lt;/i&gt; &lt;i&gt;Assets.)&lt;/i&gt;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;b&gt;&lt;i&gt;&amp;#160;(m)&amp;#160; Advertising and Promotions&lt;/i&gt;&lt;/b&gt;&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;The Company expenses advertising and promotional costs as incurred. Total advertising and promotional expenses, including expenses related to discontinued operations, were approximately $12.0 million, $5.1 million and $4.9&amp;#160;million for the years ended December&amp;#160;31, 2011, 2010 and 2009, respectively.&amp;#160;&amp;#160;Total advertising and promotional expenses for continuing operations, for the years ended December 31, 2011, 2010 and 2009, were approximately $12.0 million, $5.1 million and $4.8 million, respectively.&lt;/p&gt;
&lt;p style="text-align: left; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;b&gt;&lt;i&gt;&amp;#160;&amp;#160;(n)&amp;#160;&amp;#160;Income Taxes&lt;/i&gt;&lt;/b&gt;&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;The Company accounts for income taxes in accordance with ASC 740, &lt;i&gt;&amp;#8220;Income Taxes.&amp;#8221; &lt;/i&gt;Under ASC 740, deferred tax assets or liabilities are computed based upon the difference between financial statement and income tax bases of assets and liabilities using the enacted marginal tax rate. The Company has provided a valuation allowance on its net deferred tax assets where it is more likely than not such assets will not be realized. The Company maintains certain deferred tax liabilities that cannot be used to offset deferred tax assets and, therefore, does not consider these attributes in evaluating the realizability of its deferred tax assets. Deferred income tax expense or benefits are based upon the changes in the asset or liability from period to period.&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;b&gt;&lt;i&gt;&amp;#160;&amp;#160;(o)&amp;#160;&amp;#160;Stock-Based Compensation&lt;/i&gt;&lt;/b&gt;&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;The Company accounts for stock-based compensation in accordance with ASC 718, &lt;i&gt;&amp;#8220;Compensation - Stock Compensation.&amp;#8221;&lt;/i&gt; Under the provisions of ASC 718, stock-based compensation cost is estimated at the grant date based on the award&amp;#8217;s fair value as calculated by the Black-Scholes (&amp;#8220;BSM&amp;#8221;) valuation option-pricing model and is recognized as expense ratably over the requisite service period.&amp;#160;&amp;#160;The BSM incorporates various highly subjective assumptions including expected stock price volatility, for which historical data is heavily relied upon, expected life of options granted, forfeiture rates and interest rates. (See Note 13 &amp;#8211; &lt;i&gt;Stockholders&amp;#8217; Equity.&lt;/i&gt;)&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;b&gt;&lt;i&gt;&amp;#160;&amp;#160;(p)&amp;#160;&amp;#160;Comprehensive Income (Loss)&lt;/i&gt;&lt;/b&gt;&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;The Company&amp;#8217;s comprehensive income (loss) consists of net income (loss) and other items recorded directly to the equity accounts. The objective is to report a measure of all changes in equity of an enterprise that result from transactions and other economic events during the period, other than transactions with owners. The Company&amp;#8217;s comprehensive income (loss) consists of gains and losses on derivative instruments that qualify for cash flow hedge treatment and unrealized gains and losses on investment activities.&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;The following table sets forth the components of comprehensive income (loss):&lt;/p&gt;
&lt;p style="text-align: left; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;table style="width: 100%; font: 10pt times new roman, times, serif;" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="10"&gt;For&amp;#160;the&amp;#160;Years&amp;#160;Ended&amp;#160;December&amp;#160;31,&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2"&gt;2011&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2"&gt;2010&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2"&gt;2009&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; font-weight: bold;" colspan="10"&gt;(In&amp;#160;thousands)&lt;/td&gt;
&lt;td style="font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; width: 61%;"&gt;Consolidated net income (loss)&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 10%;"&gt;12,903&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 10%;"&gt;(26,625&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;)&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 10%;"&gt;(48,558&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Other comprehensive income (loss) (net of tax of $0 for all periods):&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Investment activities&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(199&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;Derivative and hedging activities&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;1,426&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;662&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;895&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Comprehensive income (loss)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;14,130&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(25,963&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(47,663&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;Comprehensive&amp;#160;income attributable to the noncontrolling interests&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;10,014&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;2,008&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;4,329&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;Comprehensive income (loss) attributable to common stockholders&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;4,116&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;(27,971&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;(51,992&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="margin: 0px;"&gt;&lt;/p&gt;
&lt;p style="margin: 0px;"&gt;&lt;/p&gt;
&lt;p style="text-align: left; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;b&gt;&lt;i&gt;&amp;#160;&amp;#160;(q)&amp;#160; Segment Reporting and Major Customers&lt;/i&gt;&lt;/b&gt;&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;In accordance with ASC 280, &amp;#8220;&lt;i&gt;Segment Reporting&lt;/i&gt;,&amp;#8221; and given its diversification strategy, the Company has determined it has four reportable segments:&amp;#160;&amp;#160;(i) Radio Broadcasting; (ii) Reach Media; (iii) Internet; and (iv) Cable Television. These four segments operate in the United States and are consistently aligned with the Company&amp;#8217;s management of its businesses and its financial reporting structure.&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;The Radio Broadcasting segment consists of all broadcast results of operations. The Reach Media segment consists of the results of operations for the Tom Joyner Morning Show and related activities. The Internet segment includes the results of our online business. The Cable Television segment consists of TV One&amp;#8217;s results of operations. Corporate/Eliminations/Other represents financial activity associated with our corporate staff and offices and intercompany activity among the four segments. Intercompany revenue earned and expenses charged between segments are recorded at fair value and eliminated in consolidation.&lt;b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/b&gt;&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;During and prior to 2009, we derived a significant portion of our net revenue from a single customer, Radio Networks, a media representation firm which was owned by Citadel (the subsidiary was subsequently acquired by Cumulus Media, Inc. in September 2011). &amp;#160;During those years, Reach Media derived a substantial majority of its net revenue from a sales representation agreement (the &amp;#8220;Sales Representation Agreement&amp;#8221;) with Radio Networks. &amp;#160;The Sales Representation Agreement provided for Radio Networks to act as Reach Media&amp;#8217;s sales representative primarily for advertising airing on 106 affiliate radio stations broadcasting the Tom Joyner Morning Show, and to also serve as its sales representative for internet and events sales.&amp;#160;&amp;#160;The Sales Representation Agreement provided&amp;#160;for Radio Networks to retain a portion of Reach Media&amp;#8217;s advertising revenues only after satisfying certain revenue guarantee obligations to Reach Media. Further, but to a lesser extent, in accordance with ASC 605, &lt;i&gt;&amp;#8220;Revenue Recognition,&amp;#8221; &lt;/i&gt;revenue for Company owned radio stations is also generated from Radio Networks for barter agreements whereby the Company provided advertising time in exchange for programming content (the &amp;#8220;RN Barter Revenue&amp;#8221;).&amp;#160; As a result of our 53.5% ownership of Reach Media, we consolidate net revenue derived by Reach Media from the Sales Representation Agreement into our financial statements.&amp;#160; For the year ended December 31, 2009, net revenue attributable to the Sales Representation Agreement&amp;#160;and the RN Barter Revenue accounted for 11.9% of our total consolidated net revenues. No single customer accounted for over 10% of our consolidated net revenues during the years ended December 31, 2011 and 2010.&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;A Sales Representation Agreement was executed in November 2009 to replace the old agreement, whereby, effective January 1, 2010, Citadel began only selling advertising inventory outside the Tom Joyner Morning Show. As an inducement for Reach Media to enter into the new Sales Representation Agreement, Citadel transferred its noncontrolling ownership interest in Reach Media to Reach Media.&amp;#160;&amp;#160;This ownership interest was part of the original agreement signed in 2003.&amp;#160;As a result of classifying these shares as treasury stock, this transaction effectively increased Radio One&amp;#8217;s common stock interest in Reach Media to 53.5%. In exchange for the returned ownership interest, Reach Media issued a $1.0 million promissory note payable to Radio Networks that was due and paid in December 2011. Under the terms of the agreement, Reach Media had the option to terminate the agreement effective December 31, 2011 by giving at least 90 days written notice prior to this date.&amp;#160; In September 2011, Reach Media exercised its option and gave notice of its intention to terminate the agreement effective December 31, 2011.&amp;#160; Reach Media entered into a new Sales Representation Agreement with Radio Networks on November 11, 2011. The new agreement is for a three year term commencing on January 1, 2012 and ending on December 31, 2014. Either party has the right to terminate the new agreement effective December 31, 2013 by giving at least 90 days written notice prior to December 31, 2013. The terms of the new agreement, regarding sales representation, are substantially the same as the prior agreement.&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&amp;#160;&lt;b&gt;&lt;i&gt;(r)&amp;#160;&amp;#160;Earnings Per Share&lt;/i&gt;&lt;/b&gt;&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;Basic earnings per share is computed on the basis of the weighted average number of shares of common stock outstanding during the period. Diluted earnings per share is computed on the basis of the weighted average number of shares of common stock plus the effect of potential dilutive common shares outstanding during the period using the treasury stock method.&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;The Company&amp;#8217;s potentially dilutive securities include stock options and unvested restricted stock. Diluted earnings per share considers the impact of potentially dilutive securities except in periods in which there is a net loss, as the inclusion of the potentially dilutive common shares would have an anti-dilutive effect.&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;b&gt;&lt;i&gt;&amp;#160;&amp;#160;(s)&amp;#160;&amp;#160;Discontinued Operations&lt;/i&gt;&lt;/b&gt;&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;For those businesses where management has committed to a plan to divest or discontinue operations, each business is valued at the lower of its carrying amount or estimated fair value less cost to sell. If the carrying amount of the business exceeds its estimated fair value, a loss is recognized. The fair values are estimated using accepted valuation techniques such as a discounted cash flow model, valuations performed by third parties, earnings multiples, or indicative bids, when available. A number of significant estimates and assumptions are involved in the application of these techniques, including the forecasting of markets and market share, revenues, costs and expenses, and multiple other factors. Management considers historical experience and all available information at the time the estimates are made. However, the fair values that are ultimately realized upon the sale of the businesses to be divested may differ from the estimated fair values reflected in the consolidated financial statements.&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;Businesses to be divested or operationally cease are classified in the consolidated financial statements as discontinued operations. For businesses classified as discontinued operations, the balance sheet amounts and statement of operations results are reclassified from their historical presentation to assets and liabilities of discontinued operations on the consolidated balance sheet and to discontinued operations in the consolidated statement of operations for all periods presented. The gains or losses associated with these divested or ceased businesses are recorded in income or loss from discontinued operations on the consolidated statement of operations. The consolidated statement of cash flows is also reclassified for discontinued operations for all periods presented. For businesses reclassified as discontinued, management does not expect any continuing involvement with these businesses.&lt;/p&gt;
&lt;p style="text-align: left; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: left; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;b&gt;&lt;i&gt;&amp;#160;&amp;#160;(t) Fair Value Measurements&lt;/i&gt;&lt;/b&gt;&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;We report our financial and non-financial assets and liabilities measured at fair value on a recurring basis under the provisions of ASC 820, &lt;i&gt;&amp;#8220;Fair Value Measurements and Disclosures.&amp;#8221;&lt;/i&gt; ASC 820 defines fair value, establishes a framework for measuring fair value and expands disclosures about fair value measurements.&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;The fair value framework requires the categorization of assets and liabilities into three levels based upon the assumptions (inputs) used to price the assets or liabilities. Level 1 provides the most reliable measure of fair value, whereas Level 3 generally requires significant management judgment. The three levels are defined as follows:&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px 0pt 0.25in; font: 10pt times new roman, times, serif;"&gt;&lt;i&gt;Level 1&lt;/i&gt;: Inputs are unadjusted quoted prices in active markets for identical assets and liabilities that can be accessed at the measurement date.&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px 0pt 0.25in; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px 0pt 0.25in; font: 10pt times new roman, times, serif;"&gt;&lt;i&gt;Level 2&lt;/i&gt;: Observable inputs other than those included in Level 1 (i.e., quoted prices for similar assets or liabilities in&amp;#160;active markets or quoted prices for identical assets or liabilities in inactive markets).&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px 0pt 0.25in; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px 0pt 0.25in; font: 10pt times new roman, times, serif;"&gt;&lt;i&gt;Level 3&lt;/i&gt;: Unobservable inputs reflecting management&amp;#8217;s own assumptions about the inputs used in pricing the asset or liability.&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;As of December 31, 2011 and 2010, the fair values of our financial liabilities measured at fair value on a recurring basis are categorized as follows:&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;table style="width: 100%; font: 10pt times new roman, times, serif;" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2"&gt;Total&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2"&gt;Level 1&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2"&gt;Level 2&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2"&gt;Level 3&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; font-weight: bold;" colspan="14"&gt;(In thousands)&lt;/td&gt;
&lt;td style="font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; font-weight: bold;"&gt;As of December 31, 2011&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Assets subject to fair value measurement:&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Fixed maturity securities &amp;#8211; available for sale:&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; width: 48%;"&gt;Corporate debt securities&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 10%;"&gt;7,178&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 10%;"&gt;7,178&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 10%;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 10%;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;Government sponsored enterprise mortgage-backed securities&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;1,011&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;1,011&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;Total fixed maturity securities (a)&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;8,189&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;7,178&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;1,011&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;Total&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;8,189&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;7,178&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;1,011&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Liabilities subject to fair value measurement:&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Incentive award plan (b)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right;"&gt;5,096&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right;"&gt;5,096&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;Employment agreement award (c)&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;10,346&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;10,346&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;Total&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;15,442&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;15,442&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Mezzanine equity subject to fair value measurement:&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;Redeemable noncontrolling interests (d)&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;20,343&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;20,343&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; font-weight: bold;"&gt;As of December 31, 2010&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Liabilities subject to fair value measurement:&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Interest rate swaps (e)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right;"&gt;1,426&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right;"&gt;1,426&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;Employment agreement award (c)&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;6,824&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;6,824&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;Total&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;8,250&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;1,426&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;6,824&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Mezzanine equity subject to fair value measurement:&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;Redeemable noncontrolling interests (d)&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;30,635&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;30,635&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="text-align: left; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;(a) Where quoted market prices are available in an active market, securities are classified within Level 1 of the valuation hierarchy. If quoted market prices are not available, fair values are estimated using pricing models, quoted prices of securities with similar characteristics or discounted cash flows.&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;(b) These balances are measured based on the estimated enterprise fair value of TV One. As of December 31, 2010, the Company determined the enterprise fair value of TV One based on the price paid to repurchase interests from certain investors. As of December 31, 2011, a third-party valuation firm assisted the Company in determining TV One&amp;#8217;s fair value.&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;(c) Pursuant to an employment agreement (the &amp;#8220;Employment Agreement&amp;#8221;) executed in April 2008, the Chief Executive Officer (&amp;#8220;CEO&amp;#8221;) is eligible to receive an award amount equal to 8% of any proceeds from distributions or other liquidity events in excess of the return of the Company&amp;#8217;s aggregate investment in TV One. The Company reviews the factors underlying this award at the end of each quarter including the valuation of TV One and an assessment of the probability that the employment agreement will be renewed and contain this provision. The Company&amp;#8217;s obligation to pay the award will be triggered only after the Company&amp;#8217;s recovery of the aggregate amount of its capital contribution in TV One and only upon actual receipt of distributions of cash or marketable securities or proceeds from a liquidity event with respect to the Company&amp;#8217;s membership interest in TV One. The CEO was fully vested in the award upon execution of the Employment Agreement, and the award&amp;#160;lapses if the CEO voluntarily leaves the Company or is terminated for cause. In calculating the fair value of the award as of December 31, 2010, the Company utilized the value assessed for TV One in connection with the buyout of financial investors. As of December 31, 2011, a third-party valuation firm assisted the Company in determining TV One&amp;#8217;s fair value. (See Note 10 &amp;#8211; &lt;i&gt;Derivative Instruments and Hedging Activities&lt;/i&gt;.)&amp;#160;The Company is currently in negotiations with the Company&amp;#8217;s CEO for a new employment agreement. Until such time as his new employment agreement is executed, the terms of his April 2008 employment agreement remain in effect including eligibility for the TV One award.&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;(d) Redeemable noncontrolling interest in Reach Media is measured at fair value using a discounted cash flow methodology.&amp;#160; A third-party valuation firm assisted the Company in calculating the fair value.&amp;#160;Significant inputs to the discounted cash flow analysis include forecasted operating results, discount rate and a terminal value.&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;(e)&amp;#160; Based on London Interbank Offered Rate (&amp;#8220;LIBOR&amp;#8221;).&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;The following table presents the changes in Level 3 liabilities measured at fair value on a recurring basis for the years ended December 31, 2010 and 2011:&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;table style="width: 100%; font: 10pt times new roman, times, serif;" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;Incentive &lt;br  /&gt;Award &lt;br  /&gt;Plan&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;Employment &lt;br  /&gt;Agreement &lt;br  /&gt;Award&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;Redeemable &lt;br  /&gt;Noncontrolling &lt;br  /&gt;Interests&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; font-weight: bold;" colspan="10" nowrap="nowrap"&gt;(In thousands)&lt;/td&gt;
&lt;td style="font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;" colspan="2" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; width: 61%;"&gt;Balance at December 31, 2009&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 10%;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 10%;"&gt;4,657&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 10%;"&gt;52,225&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Losses included in earnings (unrealized)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;2,167&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Net income attributable to noncontrolling interests&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;2,008&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Dividends paid to noncontrolling interests&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(2,844&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;Change in fair value&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;(20,754&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Balance at December 31, 2010&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right;"&gt;6,824&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right;"&gt;30,635&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Losses (gains) included in earnings (unrealized)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;3,522&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Net income attributable to noncontrolling interests&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;2,055&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Dividends paid to noncontrolling interests&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(1,511&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Recognition of TV One management incentive award plan in connection with the consolidation of TV One&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;6,428&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;Change in fair value&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;(1,332&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;(10,836&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;Balance at December 31, 2011&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;5,096&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;10,346&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;20,343&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: justify; padding-bottom: 2.5pt;"&gt;The amount of total losses for the period included in earnings attributable to the change in unrealized losses relating to assets and liabilities still held at the reporting date&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;(3,522&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;Losses included in earnings were recorded in the consolidated statement of operations as corporate selling, general and administrative expenses for the year ended December 31, 2011.&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;Certain assets and liabilities are measured at fair value on a non-recurring basis using Level 3 inputs as defined in ASC 820.&amp;#160;&amp;#160;These assets are not measured at fair value on an ongoing basis but are subject to fair value adjustments only in certain circumstances.&amp;#160;&amp;#160;Included in this category are goodwill, radio broadcasting licenses and other intangible assets, net, that are written down to fair value when they are determined to be impaired, as well as content assets that are periodically written down to net realizable value. Other than certain Reach Media definite-lived intangible assets, the Company concluded that these assets were not impaired during the year ended December 31, 2011, and, therefore, were reported at carrying value as opposed to fair value.&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;As of December 31, 2011, the total recorded carrying values of goodwill and radio broadcasting licenses were approximately $272.0 million and $677.4 million, respectively. Pursuant to ASC 350, &amp;#8220;Intangibles &amp;#8211; Goodwill and Other,&amp;#8221; and in connection with its annual impairment testing performed in October 2011, the Company recorded an impairment charge of approximately $14.5 million, thus reducing the total carrying value of goodwill to approximately $272.0 million as of December 31, 2011. A description of the Level 3 inputs and the information used to develop the inputs is discussed in Note&amp;#160;5 &amp;#8212; &lt;i&gt;Goodwill, Radio Broadcasting Licenses and Other Intangible Assets.&lt;/i&gt;&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;b&gt;&lt;i&gt;&amp;#160;&amp;#160;(u) Software and Web Development Costs&lt;/i&gt;&lt;/b&gt;&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;The Company capitalizes direct internal and external costs incurred to develop internal-use computer software during the application development stage pursuant to ASC 350-40, &amp;#8220;&lt;i&gt;Intangibles &amp;#8211; Goodwill and Other.&amp;#8221; &lt;/i&gt;Internal-use software is amortized under the straight-line method using an estimated life of three years&lt;i&gt;. &lt;/i&gt;All web development costs incurred in connection with operating our websites are accounted for under the provisions of ASC 350-40, unless a plan exists or is being developed to market the software externally. The Company has no plans to market software externally.&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;b&gt;&lt;i&gt;&amp;#160;&amp;#160;(v) Redeemable noncontrolling interests&lt;/i&gt;&lt;/b&gt;&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;Redeemable noncontrolling interests are interests in subsidiaries that are redeemable outside of the Company&amp;#8217;s control either for cash or other assets. These interests are classified as mezzanine equity and measured at the greater of estimated redemption value at the end of each reporting period or the historical cost basis of the noncontrolling interests adjusted for cumulative earnings allocations.&amp;#160;&amp;#160;The resulting increases or decreases in the estimated redemption amount are affected by corresponding charges against retained earnings, or in the absence of retained earnings, additional paid-in-capital.&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: left; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;b&gt;&lt;i&gt;&amp;#160;&amp;#160;(w) Investments&lt;/i&gt;&lt;/b&gt;&lt;/p&gt;
&lt;p style="text-align: left; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/p&gt;
&lt;p style="text-align: left; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;i&gt;Investment Securities&lt;/i&gt;&lt;/p&gt;
&lt;p style="text-align: left; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;Investments consist primarily of U.S. government and corporate fixed maturity securities and mortgage-backed securities.&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;Investments with original maturities in excess of three months and less than one year are classified as short-term investments. Long-term investments have original maturities in excess of one year.&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;Debt securities are classified as &amp;#8220;available-for-sale&amp;#8221; and reported at fair value. Investments in available-for-sale fixed maturity securities are classified as either current or noncurrent assets based on their contractual maturities. Fixed maturity securities are carried at estimated fair value based on quoted market prices for the same or similar instruments. Investment income is recognized when earned and reported net of investment expenses. Unrealized gains and losses are excluded from earnings and are reported as a separate component of accumulated other comprehensive income (loss) until realized, unless the losses are deemed to be other than temporary. Realized gains or losses, including any provision for other-than-temporary declines in value, are included in the statements of operations. For purposes of computing realized gains and losses, the specific-identification method of determining cost was used.&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;i&gt;Evaluating Investments for Other than Temporary Impairments&lt;/i&gt;&lt;/p&gt;
&lt;p style="text-align: left; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;The Company periodically performs evaluations, on a lot-by-lot and security-by-security basis, of its investment holdings in accordance with its impairment policy to evaluate whether any declines in the fair value of investments are other than temporary. This evaluation consists of a review of several factors, including but not limited to: length of time and extent that a security has been in an unrealized loss position, the existence of an event that would impair the issuer&amp;#8217;s future earnings potential, and the near-term prospects for recovery of the market value of a security. The FASB has issued guidance for recognition and presentation of other than temporary impairment (&amp;#8220;OTTI&amp;#8221;), or FASB OTTI guidance. Accordingly, any credit-related impairment of fixed maturity securities that the Company does not intend to sell, and is not likely to be required to sell, is recognized in the consolidated statements of operations, with the noncredit-related impairment recognized in accumulated other comprehensive income (loss).&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;For fixed maturity securities where fair value is less than amortized cost, and where the securities are not deemed to be credit-impaired, the Company has asserted that it has no intent to sell and that it believes it is more likely than not that it will not be required to sell the investment before recovery of its amortized cost basis. If such an assertion had not been made, the security&amp;#8217;s decline in fair value would be deemed to be other than temporary and the entire difference between fair value and amortized cost would be recognized in the statements of operations.&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;For fixed maturity securities, a critical component of the evaluation for OTTI is the identification of credit-impaired securities, where the Company does not expect to receive cash flows sufficient to recover the entire amortized cost basis of the security. The difference between the present value of projected future cash flows expected to be collected and the amortized cost basis is recognized as credit-related OTTI in the statements of income. If fair value is less than the present value of projected future cash flows expected to be collected, the portion of OTTI related to other than credit factors is reduced in accumulated other comprehensive income (loss).&lt;/p&gt;
&lt;p style="text-align: left; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;In order to determine the amount of credit loss for a fixed maturity security, the Company calculates the recovery value by performing a discounted cash flow analysis based on the present value of future cash flows expected to be received. The discount rate is generally the effective interest rate of the fixed maturity security prior to impairment.&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;When determining the collectability and the period over which the fixed maturity security is expected to recover, the Company considers the same factors utilized in its overall impairment evaluation process described above.&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;The Company believes that it has adequately reviewed its investment securities for OTTI and that its investment securities are carried at fair value. However, over time, the economic and market environment (including any ratings change for any such securities, including US treasuries and corporate bonds) may provide additional insight regarding the fair value of certain securities, which could change management&amp;#8217;s judgment regarding OTTI. This could result in realized losses relating to other than temporary declines being charged against future income. Given the judgments involved, there is a continuing risk that further declines in fair value may occur and material OTTI may be recorded in future periods.&lt;/p&gt;
&lt;p style="text-align: left; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: left; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;b&gt;&lt;i&gt;&amp;#160;&amp;#160;(x) Launch Support&lt;/i&gt;&lt;/b&gt;&lt;/p&gt;
&lt;p style="text-align: left; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;b&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/b&gt;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;TV One has entered into certain affiliate agreements requiring various payments by TV One for launch support. Launch assets are assets used to initiate carriage under new affiliation agreements and are amortized over the term of the respective contracts. Amortization is recorded as a reduction to revenue to the extent that revenue is recognized from the vendor, and any excess amortization is recorded as launch support amortization expense. The weighted-average amortization period for launch support is approximately 3.6 years. For the year ended December 31, 2011, launch asset amortization of approximately $7.1 million was recorded as a reduction of revenue.&lt;/p&gt;
&lt;p style="text-align: left; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;b&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/b&gt;&lt;/p&gt;
&lt;p style="text-align: left; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;b&gt;&lt;i&gt;&amp;#160;&amp;#160;(y) Content Assets&lt;/i&gt;&lt;/b&gt;&lt;/p&gt;
&lt;p style="text-align: left; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;b&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/b&gt;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;TV One has entered into contracts to acquire entertainment programming rights and programs from distributors and producers. The license periods granted in these contracts generally run from one year to perpetuity. Contract payments are made in installments over terms that are generally shorter than the contract period. Each contract is recorded as an asset and a liability at an amount equal to its gross contractual commitment when the license period begins and the program is available for its first airing.&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;Program rights are recorded at the lower of amortized cost or estimated net realizable value. Program rights are amortized based on the greater of the usage of the program or term of license. Estimated net realizable values are based on the estimated revenues directly associated with the program materials and related expenses. The Company recorded an additional approximately $4.4 million of amortization expense as a result of evaluating its contracts for recoverability as of December 31, 2011. &lt;font style="font-family: times new roman, times, serif;"&gt;All produced and co-produced content is classified as a long-term asset. The portion of the unamortized licensed content balance that will be amortized within one year is classified as a current asset.&lt;/font&gt;&lt;/p&gt;
&lt;p style="text-align: left; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/p&gt;
&lt;p style="text-align: left; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;b&gt;&lt;i&gt;&amp;#160;&amp;#160;(z) Prepaid Programming and Deposits&lt;/i&gt;&lt;/b&gt;&lt;/p&gt;
&lt;p style="text-align: left; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;b&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/b&gt;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;Prepaid programming and deposits represent deposits made for the acquisition of TV One programming rights and the production of content that have not been recorded as content assets as the license period has not begun and the asset is not available for its first airing.&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: left; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;b&gt;&lt;i&gt;&amp;#160;&amp;#160;(aa) Impact of Recently Issued Accounting Pronouncements&lt;/i&gt;&lt;/b&gt;&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;In December 2010, the FASB issued ASU 2010-29, which specifies that if a public entity presents comparative financial statements, the entity should disclose revenue and earnings of the combined entity as though the business combination that occurred during the current year had occurred as of the beginning of the comparable prior annual reporting period. ASU 2010-29 is effective for business combinations occurring on or after the beginning of the first annual reporting period beginning on or after December 15, 2010.&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;In September&amp;#160;2011, the FASB issued ASU 2011-08, which provides companies with an option to perform a qualitative assessment that may allow them to skip the two-step impairment test. ASU 2011-08 amends existing guidance by giving an entity the option to first assess qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount. If this is the case, companies will need to perform a more detailed two-step goodwill impairment test which is used to identify potential goodwill impairments and to measure the amount of goodwill impairment losses to be recognized, if any. ASU 2011-08 is effective for annual and interim goodwill impairment tests performed for fiscal years beginning after December 15, 2011. The Company does not expect such adoption will have a material impact on the Company&amp;#8217;s results of operations, financial condition or its disclosures.&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;In June 2011, the FASB issued ASU 2011-05, &amp;#8220;&lt;i&gt;Presentation of Comprehensive Income&lt;/i&gt;,&amp;#8221; which was subsequently modified in December 2011 by ASU 2011-12, &amp;#8220;&lt;i&gt;Deferral of the Effective Date for Amendments to the Presentation of Reclassifications of Items Out of Accumulated Other Comprehensive Income in Accounting Standards Update No.&amp;#160;2011-05&lt;/i&gt;.&amp;#8221; This ASU amends existing presentation and disclosure requirements concerning comprehensive income, most significantly by requiring that comprehensive income be presented with net income in a continuous financial statement, or in a separate but consecutive financial statement. The provisions of this ASU (as modified) are effective for fiscal years, and interim periods within those years, beginning after December&amp;#160;15, 2011. The Company has retrospectively adopted ASU 2011-5 for all periods presented. The adoption of this pronouncement did not have an effect on the Company's financial statements.&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;b&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/b&gt;&lt;/p&gt;
&lt;p style="text-align: justify; background-color: white; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;b&gt;&lt;i&gt;&amp;#160;&amp;#160;(ab)&amp;#160;Liquidity and Uncertainties Related to Going Concern&lt;/i&gt;&lt;/b&gt;&lt;/p&gt;
&lt;p style="text-align: justify; background-color: white; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; background-color: white; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;On March 31, 2011, the Company entered into a new senior credit facility (the &amp;#8220;2011 Credit Agreement&amp;#8221;).&amp;#160; Under the 2011 Credit Agreement, beginning&amp;#160;June 30, 2011, we became required to maintain compliance with certain financial ratios (as detailed in Note 11&lt;i&gt; &lt;/i&gt;&amp;#8212; &lt;i&gt;Long-Term Debt&lt;/i&gt; below).&amp;#160; Based on our current projections, we expect to be in compliance with&amp;#160;these financial ratios and other covenants over the next twelve months.&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;b&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/b&gt;&lt;/p&gt;
&lt;p style="text-align: justify; background-color: white; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;The Company continually projects its anticipated cash needs, which include, but are not limited to, its operating needs, capital requirements and principal and interest payments on its indebtedness. &amp;#160;Management&amp;#8217;s most recent revenue, operating income and cash flow projections considered the recent gradual improvement in both the economy and advertising environment. Our first quarter 2012 results are consistent with these projections and compare more favorably to prior periods during which the economic downturn persisted. &amp;#160;As of the filing of this Form 10-K/A, management believes the Company can meet its liquidity needs through at least December 31, 2012 with cash and cash equivalents on hand, projected cash flows from operations and, to the extent necessary, through additional borrowing&amp;#160;available under the 2011 Credit Agreement.&lt;/p&gt;
&lt;p style="text-align: justify; background-color: white; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; background-color: white; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;Management&amp;#8217;s projections are highly dependent on the continuation of the recently improving economic and advertising environments across all media the Company serves, and any adverse fluctuations, or other unforeseen circumstances, may negatively impact the Company&amp;#8217;s operations beyond those assumed. The Company is projecting revenue growth in 2012, which reflects overall growth expected for the broadcasting industry as a whole, and growth in several markets in excess of overall market expectations based on strategic investments we made in 2011 that we believe will provide above-market returns in 2012. Management considered the risks that the current economic conditions may have on its liquidity projections, as well as the Company&amp;#8217;s ability to meet its debt covenant requirements. If economic conditions deteriorate unexpectedly or do not continue to rebound, if we are not successful in our strategy in various markets to outperform the market, or if other adverse factors outside the Company&amp;#8217;s control arise, our operations could be negatively impacted, which could reduce, negate or even prevent the Company from maintaining compliance with its debt covenants. If it appears that we could not meet our liquidity needs or that noncompliance with debt covenants is likely to result, the Company would implement several remedial measures, which could include further operating cost and capital expenditure reductions and deferrals. We believe such measures would allow us to maintain compliance with our debt covenants at least through the next twelve months.&lt;/p&gt;</us-gaap:OrganizationConsolidationBasisOfPresentationBusinessDescriptionAndAccountingPoliciesTextBlock>
<us-gaap:GoodwillAndIntangibleAssetsDisclosureTextBlock contextRef="Context_FYE_31-Dec-2011">&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;b&gt;6.&amp;#160;&amp;#160;GOODWILL, RADIO BROADCASTING LICENSES AND OTHER INTANGIBLE ASSETS:&lt;/b&gt;&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;i&gt;Impairment Testing&lt;/i&gt;&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;In the past, we have made acquisitions whereby a significant amount of the purchase price was allocated to radio broadcasting licenses, goodwill and other intangible assets. In accordance with ASC 350, &lt;i&gt;&amp;#8220;Intangibles - Goodwill and Other,&amp;#8221;&lt;/i&gt; we do not amortize our radio broadcasting licenses and goodwill. Instead, we perform a test for impairment annually or on an interim basis when events or changes in circumstances or other conditions suggest impairment may have occurred. Other intangible assets continue to be amortized on a straight-line basis over their useful lives. We perform our annual impairment test as of October 1 of each year. For the years ended December 31, 2011, 2010 and 2009, we recorded impairment charges against radio broadcasting licenses and goodwill of approximately $14.5 million, $36.1 million and $65.6 million, respectively.&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;i&gt;2011 Interim Impairment Testing&lt;/i&gt;&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;During the second quarter of 2011, the total market revenue growth for certain markets was below that used in our 2010 annual impairment testing. We deemed that to be an impairment indicator that warranted interim impairment testing of certain of our radio broadcasting licenses, which we performed as of May 31, 2011. During the third quarter, there was further deterioration of revenue growth in certain markets, and as such, we deemed that to be an impairment indicator that warranted interim testing of certain radio broadcasting licenses as of September 30, 2011. The Company concluded that our radio broadcasting licenses were not impaired during the second or third quarters of 2011. During the second and third quarters of 2011, the operating performance and current projections for the remainder of the year for specific radio markets were below that used in our 2010 annual impairment testing. We deemed that to be an impairment indicator that warranted interim impairment testing of goodwill associated with specific radio markets, which we performed as of May 31, 2011 and as of September 30, 2011. The Company concluded that goodwill had not been impaired during the second and third quarters of 2011.&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;In addition, Reach Media&amp;#8217;s actual operating results did not meet budgeted results during 2011 and as such, interim impairment testing for goodwill attributable to Reach Media was performed in March, June and September of 2011. There were no impairment charges recorded as part of our interim impairment testing.&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;i&gt;2011 Annual Impairment Testing&lt;/i&gt;&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;We completed our annual impairment assessment as of October 1, 2011. As a result of our testing, we recorded an impairment charge of approximately $14.5 million against goodwill in our Columbus market. Our October 1, 2011 annual impairment testing indicated the carrying values for our radio broadcasting licenses and goodwill attributable to Interactive One were not impaired.&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;i&gt;2011 Year End Impairment Testing&lt;/i&gt;&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;We completed an impairment assessment as of December 31, 2011 for Reach Media. Due to amendments of existing Reach Media affiliate agreements with Radio One, Reach Media&amp;#8217;s expected future cash flows will be reduced. There were no goodwill impairment charges recorded as part of our year end impairment testing. However, the Company recognized a non-cash impairment charge of approximately $7.8 million related to the long-lived assets of Reach Media.&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;i&gt;Valuation of Broadcasting Licenses&lt;/i&gt;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 9pt; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;We utilize the services of a third-party valuation firm to provide independent analysis when evaluating the fair value of our radio broadcasting licenses. Fair value is estimated to be the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. We use the income approach to test for impairment of radio broadcasting licenses. A projection period of 10 years is used, as we believe that is the time horizon in which operators and investors generally expect to recover their investments. When evaluating our radio broadcasting licenses for impairment, the testing is done at the unit of accounting level as determined by ASC 350, &lt;i&gt;&amp;#8220;Intangibles - Goodwill and Other.&amp;#8221;&lt;/i&gt; In our case, each unit of accounting is a clustering of radio stations into one of our 15 geographical markets.&amp;#160;&amp;#160;Broadcasting license fair values are based on the estimated after-tax discounted future cash flows of the applicable unit of accounting assuming an initial hypothetical start-up operation which possesses FCC licenses as the only asset. Over time, it is assumed the operation acquires other tangible assets such as advertising and programming contracts, employment agreements and going concern value, and matures into an average performing operation in a specific radio market. The income approach model incorporates several variables, including, but not limited to: (i) radio market revenue estimates and growth projections; (ii) estimated market share and revenue for the hypothetical participant; (iii) likely media competition within the market; (iv) estimated start-up costs and losses incurred in the early years; (v) estimated profit margins and cash flows based on market size and station type; (vi) anticipated capital expenditures; (vii) probable future terminal values; (viii) an effective tax rate assumption; and (ix) a discount rate based on the weighted-average cost of capital for the radio broadcast industry. In calculating the discount rate, we considered: (i) the cost of equity, which includes estimates of the risk-free return, the long-term market return, small stock risk premiums and industry beta; (ii) the cost of debt, which includes estimates for corporate borrowing rates and tax rates; and (iii) estimated average percentages of equity and debt in capital structures.&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;Our methodology for valuing broadcasting licenses has been consistent for all periods presented. Below are some of the key assumptions used in the income approach model for estimating broadcasting licenses fair values for all annual and interim impairments assessments performed since January&amp;#160;2009.&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;table style="width: 100%; font: 8pt times new roman, times, serif;" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;February 28,&lt;/td&gt;
&lt;td style="font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;August 31,&lt;/td&gt;
&lt;td style="font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;October 1,&lt;/td&gt;
&lt;td style="font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;October 1,&lt;/td&gt;
&lt;td style="font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;May 31,&lt;/td&gt;
&lt;td style="font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;September 30,&lt;/td&gt;
&lt;td style="font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;October 1,&lt;/td&gt;
&lt;td style="font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left; font-weight: bold;" nowrap="nowrap"&gt;Radio Broadcasting Licenses&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;2009&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;2009 (a)&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;2009&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;2010&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;2011 (a)&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;2011 (a)&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;2011&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; width: 23%;"&gt;Pre-tax impairment charge (in millions)&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 8%;"&gt;49&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 8%;"&gt;&amp;#8211;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 8%;"&gt;16.1&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 8%;"&gt;19.9&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 8%;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 8%;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 8%;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Discount Rate&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;10.5&lt;/td&gt;
&lt;td style="text-align: left;"&gt;%&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8211;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;10.5&lt;/td&gt;
&lt;td style="text-align: left;"&gt;%&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;10.0&lt;/td&gt;
&lt;td style="text-align: left;"&gt;%&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;10.0&lt;/td&gt;
&lt;td style="text-align: left;"&gt;%&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;9.5&lt;/td&gt;
&lt;td style="text-align: left;"&gt;%&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;10.0&lt;/td&gt;
&lt;td style="text-align: left;"&gt;%&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Year 1 Market Revenue Growth or Decline Rate or Range&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;" nowrap="nowrap"&gt;(13.1)% - (17.7&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)%&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(22.3&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)%&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;1.0&lt;/td&gt;
&lt;td style="text-align: left;"&gt;%&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;1.0% - 3.0&lt;/td&gt;
&lt;td style="text-align: left;"&gt;%&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;1.3% - 2.8&lt;/td&gt;
&lt;td style="text-align: left;"&gt;%&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;1.5% - 2.0&lt;/td&gt;
&lt;td style="text-align: left;"&gt;%&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;1.5% - 2.5&lt;/td&gt;
&lt;td style="text-align: left;"&gt;%&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Long-term Market Revenue Growth Rate Range (Years 6 &amp;#8211; 10)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;1.5% - 2.5&lt;/td&gt;
&lt;td style="text-align: left;"&gt;%&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8211;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;1.0% - 2.5&lt;/td&gt;
&lt;td style="text-align: left;"&gt;%&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;1.0% - 2.5&lt;/td&gt;
&lt;td style="text-align: left;"&gt;%&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;1.5% - 2.0&lt;/td&gt;
&lt;td style="text-align: left;"&gt;%&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;1.5% - 2.0&lt;/td&gt;
&lt;td style="text-align: left;"&gt;%&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;1.0% - 2.0&lt;/td&gt;
&lt;td style="text-align: left;"&gt;%&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Mature Market Share Range&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;1.2% - 27.0&lt;/td&gt;
&lt;td style="text-align: left;"&gt;%&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8211;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;0.8% - 28.1&lt;/td&gt;
&lt;td style="text-align: left;"&gt;%&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;0.8% - 28.3&lt;/td&gt;
&lt;td style="text-align: left;"&gt;%&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;9.0% - 22.5&lt;/td&gt;
&lt;td style="text-align: left;"&gt;%&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;9.3% - 22.4&lt;/td&gt;
&lt;td style="text-align: left;"&gt;%&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;0.7% - 28.9&lt;/td&gt;
&lt;td style="text-align: left;"&gt;%&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Operating Profit Margin Range&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;" nowrap="nowrap"&gt;17.7% - 50.7&lt;/td&gt;
&lt;td style="text-align: left;" nowrap="nowrap"&gt;%&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;" nowrap="nowrap"&gt;&amp;#8211;&lt;/td&gt;
&lt;td style="text-align: left;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;" nowrap="nowrap"&gt;18.5% - 50.7&lt;/td&gt;
&lt;td style="text-align: left;" nowrap="nowrap"&gt;%&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;" nowrap="nowrap"&gt;19.0% - 47.3&lt;/td&gt;
&lt;td style="text-align: left;" nowrap="nowrap"&gt;%&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;" nowrap="nowrap"&gt;32.7% - 40.8&lt;/td&gt;
&lt;td style="text-align: left;" nowrap="nowrap"&gt;%&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;" nowrap="nowrap"&gt;32.7% - 33.0&lt;/td&gt;
&lt;td style="text-align: left;" nowrap="nowrap"&gt;%&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;" nowrap="nowrap"&gt;19.1% - 47.4&lt;/td&gt;
&lt;td style="text-align: left;"&gt;%&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;table style="margin-top: 0pt; width: 100%; font: 10pt times new roman, times, serif; margin-bottom: 0pt;" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="vertical-align: top;"&gt;
&lt;td style="width: 0.2in;"&gt;&lt;/td&gt;
&lt;td style="width: 0.2in;"&gt;(a)&lt;/td&gt;
&lt;td style="text-align: left;"&gt;Reflects changes only to the key assumptions used in the interim testing for certain units of accounting.&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;i&gt;Broadcasting Licenses Valuation Results&lt;/i&gt;&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;The Company&amp;#8217;s total broadcasting licenses carrying value is approximately $677.4 million as of December 31, 2011. There were no changes to the carrying values of the Company&amp;#8217;s radio broadcasting licenses for the year ended December 31, 2011 for each unit of accounting, as noted in the table below. As noted above, each unit of accounting is a clustering of radio stations into one geographical market. The units of accounting are not disclosed on a specific market basis so as to not make sensitive information publicly available that could be competitively harmful to the Company.&lt;/p&gt;
&lt;p style="text-align: left; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;table align="center" style="width: 70%; font: 10pt times new roman, times, serif;" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="10" nowrap="nowrap"&gt;Radio Broadcasting Licenses&lt;br  /&gt;Carrying&amp;#160;Balances&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;As of&lt;/td&gt;
&lt;td style="font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;" colspan="2" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;As of&lt;/td&gt;
&lt;td style="font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left; font-weight: bold;" nowrap="nowrap"&gt;Unit of Accounting&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;December &lt;br  /&gt;31, 2010&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;Impairment&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;December &lt;br  /&gt;31, 2011&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; font-weight: bold;" colspan="10" nowrap="nowrap"&gt;(In thousands&amp;#160;)&lt;/td&gt;
&lt;td style="font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; width: 55%;"&gt;Unit of Accounting 2&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; width: 12%;"&gt;3,086&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; width: 12%;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; width: 12%;"&gt;3,086&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Unit of Accounting 4&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;9,482&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;9,482&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Unit of Accounting 5&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;18,657&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;18,657&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Unit of Accounting 7&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;19,265&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;19,265&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Unit of Accounting 14&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;20,434&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;20,434&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Unit of Accounting 15&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;20,886&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;20,886&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Unit of Accounting 11&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;21,135&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;21,135&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Unit of Accounting 9&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;34,270&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;34,270&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Unit of Accounting 6&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;26,242&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;26,242&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Unit of Accounting 16&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;52,965&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;52,965&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Unit of Accounting 13&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;52,556&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;52,556&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Unit of Accounting 8&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;66,715&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;66,715&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Unit of Accounting 12&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;58,779&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;58,779&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Unit of Accounting 1&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;93,394&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;93,394&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;Unit of Accounting 10&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;179,541&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;179,541&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt; text-indent: 0px; padding-left: 0.24in; padding-right: 0px;"&gt;Total&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;677,407&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;677,407&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="text-align: justify; text-indent: 9pt; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;br  /&gt;&lt;i&gt;Valuation of Goodwill&lt;/i&gt;&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;The impairment testing of goodwill is performed at the reporting unit level. We had 19 reporting units as of our October 2010 annual impairment assessments. Due to the consolidation of TV One and with the treatment of our Boston station as a discontinued operation during the quarter ended June 30, 2011, the Company continues to have 19 reporting units; however, they now consist of the 15 radio markets and four business divisions. In testing for the impairment of goodwill, we primarily rely on the income approach. The approach involves a 10-year model with similar variables as described above for broadcasting licenses, except that the discounted cash flows are based on the Company&amp;#8217;s estimated and projected market revenue, market share and operating performance for its reporting units, instead of those for a hypothetical participant. We follow a two-step process to evaluate if a potential impairment exists for goodwill. The first step of the process involves estimating the fair value of each reporting unit. If the reporting unit&amp;#8217;s fair value is less than its carrying value, a second step is performed to allocate the fair value of the reporting unit to the individual assets and liabilities of the reporting unit in order to determine the implied fair value of the reporting unit&amp;#8217;s goodwill as of the impairment assessment date. Any excess of the carrying value of the goodwill over the implied fair value of the goodwill is written off as a charge to operations.&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;While our internal projections considered the recent revenue and cash flow declines experienced by the Company, those results may not be necessarily indicative of our future results. Given the recent gradual improvement in the economy, we have included modest improvement estimates and projections compared to our 2010 annual assessment. We have not made any changes to the methodology for valuing or allocating goodwill when determining the carrying values of the radio markets.&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;Below are some of the key assumptions used in the income approach model for estimating reporting unit fair values for all interim and annual impairment assessments performed since January&amp;#160;2009.&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;table style="width: 100%; font: 8pt times new roman, times, serif;" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left; font-weight: bold;" nowrap="nowrap"&gt;Goodwill (Radio Market&lt;br  /&gt;Reporting Units)&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;February 28, &lt;br  /&gt;2009&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;August 31, &lt;br  /&gt;2009 (a)&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;October 1, &lt;br  /&gt;2009 (b)&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;October 1, &lt;br  /&gt;2010 (c)&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;May 31, &lt;br  /&gt;2011 (d)&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;September 30, &lt;br  /&gt;2011 (d)&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;October 1, &lt;br  /&gt;2011&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; width: 23%;"&gt;Pre-tax impairment charge (in millions)&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 8%;"&gt;&amp;#8211;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 8%;"&gt;&amp;#8211;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 8%;"&gt;0.6&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 8%;"&gt;&amp;#8211;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 8%;"&gt;&amp;#8211;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 8%;"&gt;&amp;#8211;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 8%;"&gt;14.5&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Discount Rate&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;10.5&lt;/td&gt;
&lt;td style="text-align: left;"&gt;%&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8211;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;10.5&lt;/td&gt;
&lt;td style="text-align: left;"&gt;%&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;10.0&lt;/td&gt;
&lt;td style="text-align: left;"&gt;%&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;10.0&lt;/td&gt;
&lt;td style="text-align: left;"&gt;%&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;9.5&lt;/td&gt;
&lt;td style="text-align: left;"&gt;%&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;10.0&lt;/td&gt;
&lt;td style="text-align: left;"&gt;%&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Year 1 Market Revenue Decline or Growth Rate or Range&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;" nowrap="nowrap"&gt;(13.1)% - (17.7)&lt;/td&gt;
&lt;td style="text-align: left;"&gt;%&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(19.9&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)%&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;1.0&lt;/td&gt;
&lt;td style="text-align: left;"&gt;%&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;1.5% - 3.0&lt;/td&gt;
&lt;td style="text-align: left;"&gt;%&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;1.5% - 3.0&lt;/td&gt;
&lt;td style="text-align: left;"&gt;%&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;1.5&lt;/td&gt;
&lt;td style="text-align: left;"&gt;%&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;2.0% - 2.5&lt;/td&gt;
&lt;td style="text-align: left;"&gt;%&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Long-term Market Revenue Growth Rate Range (Years 6 &amp;#8211; 10)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;1.5% - 2.5&lt;/td&gt;
&lt;td style="text-align: left;"&gt;%&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8211;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;1.5% - 2.5&lt;/td&gt;
&lt;td style="text-align: left;"&gt;%&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;1.5% - 2.5&lt;/td&gt;
&lt;td style="text-align: left;"&gt;%&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;1.5% - 2.0&lt;/td&gt;
&lt;td style="text-align: left;"&gt;%&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;1.5&lt;/td&gt;
&lt;td style="text-align: left;"&gt;%&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;1.5% - 2.0&lt;/td&gt;
&lt;td style="text-align: left;"&gt;%&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Mature Market Share Range&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;2.8% - 22.0&lt;/td&gt;
&lt;td style="text-align: left;"&gt;%&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8211;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;7.0% - 16.5&lt;/td&gt;
&lt;td style="text-align: left;"&gt;%&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;7.0% - 23.0&lt;/td&gt;
&lt;td style="text-align: left;"&gt;%&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;7.0% - 23.0&lt;/td&gt;
&lt;td style="text-align: left;"&gt;%&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;13.8&lt;/td&gt;
&lt;td style="text-align: left;"&gt;%&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;7.4% - 20.8&lt;/td&gt;
&lt;td style="text-align: left;"&gt;%&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Operating Profit Margin Range&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;" nowrap="nowrap"&gt;15.0% - 61.5&lt;/td&gt;
&lt;td style="text-align: left;" nowrap="nowrap"&gt;%&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;" nowrap="nowrap"&gt;&amp;#8211;&lt;/td&gt;
&lt;td style="text-align: left;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;" nowrap="nowrap"&gt;30.0% - 57.5&lt;/td&gt;
&lt;td style="text-align: left;" nowrap="nowrap"&gt;%&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;" nowrap="nowrap"&gt;27.5% - 58.0&lt;/td&gt;
&lt;td style="text-align: left;" nowrap="nowrap"&gt;%&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;" nowrap="nowrap"&gt;30.0% - 56.0&lt;/td&gt;
&lt;td style="text-align: left;" nowrap="nowrap"&gt;%&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;" nowrap="nowrap"&gt;36.0&lt;/td&gt;
&lt;td style="text-align: left;" nowrap="nowrap"&gt;%&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;" nowrap="nowrap"&gt;29.5% - 54.0&lt;/td&gt;
&lt;td style="text-align: left;"&gt;%&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;table style="margin-top: 0pt; width: 100%; font: 10pt times new roman, times, serif; margin-bottom: 0pt;" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="vertical-align: top;"&gt;
&lt;td style="width: 0.2in;"&gt;&lt;/td&gt;
&lt;td style="width: 0.2in;"&gt;(a)&lt;/td&gt;
&lt;td style="text-align: justify;"&gt;Reflects changes only to the key assumptions used in the interim testing for certain reporting units.&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;table style="margin-top: 0pt; width: 100%; font: 10pt times new roman, times, serif; margin-bottom: 0pt;" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="vertical-align: top;"&gt;
&lt;td style="width: 0.2in;"&gt;&lt;/td&gt;
&lt;td style="width: 0.2in;"&gt;(b)&lt;/td&gt;
&lt;td style="text-align: justify;"&gt;Reflects some of the key assumptions for testing only those radio markets with remaining goodwill for October 2009.&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;table style="margin-top: 0pt; width: 100%; font: 10pt times new roman, times, serif; margin-bottom: 0pt;" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="vertical-align: top;"&gt;
&lt;td style="width: 0.2in;"&gt;&lt;/td&gt;
&lt;td style="width: 0.2in;"&gt;(c)&lt;/td&gt;
&lt;td style="text-align: justify;"&gt;Reflects some of the key assumptions for testing only those radio markets with remaining goodwill for October 2010.&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;table style="margin-top: 0pt; width: 100%; font: 10pt times new roman, times, serif; margin-bottom: 0pt;" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="vertical-align: top;"&gt;
&lt;td style="width: 0.2in;"&gt;&lt;/td&gt;
&lt;td style="width: 0.2in;"&gt;(d)&lt;/td&gt;
&lt;td style="text-align: left;"&gt;Reflects changes only to the key assumptions used in the second and third quarter 2011 interim testing for certain reporting units.&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="text-align: left; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;Due to the September 2009 amendment of Reach Media&amp;#8217;s Sales Representation Agreement with Citadel, Reach Media began to sell advertising inventory within the Tom Joyner Morning Show through an internal sales force. This shift from a guaranteed revenue arrangement with Citadel resulted in reduced revenues and operating cash flow in 2010 compared to the original budget and interim forecasts. As a result, we performed a number of interim impairment tests in 2010. Given the continued decline in revenues and cash flows during 2010, we reduced the revenue and operating cash flow projections for Reach Media at each interim impairment assessment and at our year end assessment. In addition, we performed a number of interim impairment tests in 2011 because actual operating results did not meet budgeted results. Based on this, we reduced our operating cash flow projections and assumptions for our interim testing as well as our year end testing. Since our annual assessment in October 2009, we have not made any changes to the methodology for valuing or allocating goodwill when determining the carrying value for Reach Media.&lt;/p&gt;
&lt;p style="text-align: left; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;Below are some of the key assumptions used in the income approach model for estimating the fair value for Reach Media for all interim, annual and year end assessments since October 2009. When compared to the discount rates used for assessing radio market reporting units, the higher discount rates used in these assessments reflect a premium for a riskier and broader media business, with a heavier concentration and significantly higher amount of programming content related intangible assets that are highly dependent on the on-air personality Tom Joyner. As a result of the October 2009 annual assessment and the February, May and August 2010 interim assessments, the Company concluded no impairment to the carrying value of Reach Media had occurred. During the fourth quarter of 2010, Reach Media&amp;#8217;s operating performance continued to decline, but at a decreasing rate. We believe this represented an impairment indicator and as a result, we performed a year end impairment assessment at December 31, 2010. We recorded an impairment charge of $16.1 million during the quarter ended December 31, 2010 in connection with this assessment. As a result of our 2011 interim and year end assessments, the Company concluded no impairment for the goodwill value had occurred during the year ended December 31, 2011.&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;table style="width: 100%; font: 7pt times new roman, times, serif;" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;" nowrap="nowrap"&gt;&lt;font style="font-size: 6pt;"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 6pt;"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: center;" colspan="2" nowrap="nowrap"&gt;&lt;font style="font-size: 6pt;"&gt;&lt;b&gt;October&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 6pt;"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 6pt;"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: center;" colspan="2" nowrap="nowrap"&gt;&lt;font style="font-size: 6pt;"&gt;&lt;b&gt;February&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 6pt;"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 6pt;"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: center;" colspan="2" nowrap="nowrap"&gt;&lt;font style="font-size: 6pt;"&gt;&lt;b&gt;May&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 6pt;"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 6pt;"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: center;" colspan="2" nowrap="nowrap"&gt;&lt;font style="font-size: 6pt;"&gt;&lt;b&gt;August&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 6pt;"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 6pt;"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: center;" colspan="2" nowrap="nowrap"&gt;&lt;font style="font-size: 6pt;"&gt;&lt;b&gt;December&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 6pt;"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 6pt;"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: center;" colspan="2" nowrap="nowrap"&gt;&lt;font style="font-size: 6pt;"&gt;&lt;b&gt;March&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 6pt;"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 6pt;"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: center;" colspan="2" nowrap="nowrap"&gt;&lt;font style="font-size: 6pt;"&gt;&lt;b&gt;June&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 6pt;"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 6pt;"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: center;" colspan="2" nowrap="nowrap"&gt;&lt;font style="font-size: 6pt;"&gt;&lt;b&gt;September&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 6pt;"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 6pt;"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: center;" colspan="2" nowrap="nowrap"&gt;&lt;font style="font-size: 6pt;"&gt;&lt;b&gt;December&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 6pt;"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;" nowrap="nowrap"&gt;&lt;font style="font-size: 6pt;"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 6pt;"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: center;" colspan="2" nowrap="nowrap"&gt;&lt;font style="font-size: 6pt;"&gt;&lt;b&gt;1,&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 6pt;"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 6pt;"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: center;" colspan="2" nowrap="nowrap"&gt;&lt;font style="font-size: 6pt;"&gt;&lt;b&gt;28,&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 6pt;"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 6pt;"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: center;" colspan="2" nowrap="nowrap"&gt;&lt;font style="font-size: 6pt;"&gt;&lt;b&gt;31,&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 6pt;"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 6pt;"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: center;" colspan="2" nowrap="nowrap"&gt;&lt;font style="font-size: 6pt;"&gt;&lt;b&gt;31,&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 6pt;"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 6pt;"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: center;" colspan="2" nowrap="nowrap"&gt;&lt;font style="font-size: 6pt;"&gt;&lt;b&gt;31,&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 6pt;"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 6pt;"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: center;" colspan="2" nowrap="nowrap"&gt;&lt;font style="font-size: 6pt;"&gt;&lt;b&gt;31,&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 6pt;"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 6pt;"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: center;" colspan="2" nowrap="nowrap"&gt;&lt;font style="font-size: 6pt;"&gt;&lt;b&gt;30,&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 6pt;"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 6pt;"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: center;" colspan="2" nowrap="nowrap"&gt;&lt;font style="font-size: 6pt;"&gt;&lt;b&gt;30,&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 6pt;"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 6pt;"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: center;" colspan="2" nowrap="nowrap"&gt;&lt;font style="font-size: 6pt;"&gt;&lt;b&gt;31,&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 6pt;"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;" nowrap="nowrap"&gt;&lt;font style="font-size: 6pt;"&gt;&lt;b&gt;Reach Media Goodwill&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;" nowrap="nowrap"&gt;&lt;font style="font-size: 6pt;"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center;" colspan="2" nowrap="nowrap"&gt;&lt;font style="font-size: 6pt;"&gt;&lt;b&gt;2009&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;" nowrap="nowrap"&gt;&lt;font style="font-size: 6pt;"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;" nowrap="nowrap"&gt;&lt;font style="font-size: 6pt;"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center;" colspan="2" nowrap="nowrap"&gt;&lt;font style="font-size: 6pt;"&gt;&lt;b&gt;2010&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;" nowrap="nowrap"&gt;&lt;font style="font-size: 6pt;"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;" nowrap="nowrap"&gt;&lt;font style="font-size: 6pt;"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center;" colspan="2" nowrap="nowrap"&gt;&lt;font style="font-size: 6pt;"&gt;&lt;b&gt;2010&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;" nowrap="nowrap"&gt;&lt;font style="font-size: 6pt;"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;" nowrap="nowrap"&gt;&lt;font style="font-size: 6pt;"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center;" colspan="2" nowrap="nowrap"&gt;&lt;font style="font-size: 6pt;"&gt;&lt;b&gt;2010&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;" nowrap="nowrap"&gt;&lt;font style="font-size: 6pt;"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;" nowrap="nowrap"&gt;&lt;font style="font-size: 6pt;"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center;" colspan="2" nowrap="nowrap"&gt;&lt;font style="font-size: 6pt;"&gt;&lt;b&gt;2010&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;" nowrap="nowrap"&gt;&lt;font style="font-size: 6pt;"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;" nowrap="nowrap"&gt;&lt;font style="font-size: 6pt;"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center;" colspan="2" nowrap="nowrap"&gt;&lt;font style="font-size: 6pt;"&gt;&lt;b&gt;2011&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;" nowrap="nowrap"&gt;&lt;font style="font-size: 6pt;"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;" nowrap="nowrap"&gt;&lt;font style="font-size: 6pt;"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center;" colspan="2" nowrap="nowrap"&gt;&lt;font style="font-size: 6pt;"&gt;&lt;b&gt;2011&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;" nowrap="nowrap"&gt;&lt;font style="font-size: 6pt;"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;" nowrap="nowrap"&gt;&lt;font style="font-size: 6pt;"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center;" colspan="2" nowrap="nowrap"&gt;&lt;font style="font-size: 6pt;"&gt;&lt;b&gt;2011&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;" nowrap="nowrap"&gt;&lt;font style="font-size: 6pt;"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;" nowrap="nowrap"&gt;&lt;font style="font-size: 6pt;"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center;" colspan="2" nowrap="nowrap"&gt;&lt;font style="font-size: 6pt;"&gt;&lt;b&gt;2011&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&lt;font style="font-size: 6pt;"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right;" colspan="2"&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right;" colspan="2"&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right;" colspan="2"&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right;" colspan="2"&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right;" colspan="2"&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right;" colspan="2"&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right;" colspan="2"&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right;" colspan="2"&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right;" colspan="2"&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; width: 19%;"&gt;&lt;font style="font-size: 6pt;"&gt;Pre-tax impairment charge (in millions)&lt;/font&gt;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&lt;font style="font-size: 6pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; width: 6%;"&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#8211;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&lt;font style="font-size: 6pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; width: 6%;"&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#8211;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&lt;font style="font-size: 6pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; width: 6%;"&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#8211;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&lt;font style="font-size: 6pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; width: 6%;"&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#8211;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&lt;font style="font-size: 6pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; width: 6%;"&gt;&lt;font style="font-size: 6pt;"&gt;16.1&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&lt;font style="font-size: 6pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; width: 6%;"&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#8211;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&lt;font style="font-size: 6pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; width: 6%;"&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#8211;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&lt;font style="font-size: 6pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; width: 6%;"&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#8211;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&lt;font style="font-size: 6pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; width: 6%;"&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#8211;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 6pt;"&gt;Discount Rate&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 6pt;"&gt;14.0&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 6pt;"&gt;%&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 6pt;"&gt;13.5&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 6pt;"&gt;%&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 6pt;"&gt;13.5&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 6pt;"&gt;%&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 6pt;"&gt;13.0&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 6pt;"&gt;%&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 6pt;"&gt;13.5&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 6pt;"&gt;%&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 6pt;"&gt;13.5&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 6pt;"&gt;%&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 6pt;"&gt;13.0&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 6pt;"&gt;%&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 6pt;"&gt;12.0&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 6pt;"&gt;%&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 6pt;"&gt;12.5&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 6pt;"&gt;%&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 6pt;"&gt;Year 1 Revenue Growth Rate&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 6pt;"&gt;16.5&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;" nowrap="nowrap"&gt;&lt;font style="font-size: 6pt;"&gt;%(a)&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 6pt;"&gt;8.5&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 6pt;"&gt;%&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 6pt;"&gt;2.5&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 6pt;"&gt;%&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 6pt;"&gt;2.5&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 6pt;"&gt;%&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 6pt;"&gt;2.5&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 6pt;"&gt;%&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 6pt;"&gt;2.5&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 6pt;"&gt;%&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 6pt;"&gt;2.5&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 6pt;"&gt;%&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 6pt;"&gt;2.5&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 6pt;"&gt;%&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 6pt;"&gt;2.5&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 6pt;"&gt;%&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 6pt;"&gt;Long-term Revenue Growth Rate Range&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 6pt;"&gt;2.5% - 3.0&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 6pt;"&gt;%&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 6pt;"&gt;2.5% - 3.0&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 6pt;"&gt;%&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 6pt;"&gt;2.5% - 2.9&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 6pt;"&gt;%&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 6pt;"&gt;2.5% - 3.3&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 6pt;"&gt;%&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 6pt;"&gt;(2.6)% - 4.4&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 6pt;"&gt;%&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 6pt;"&gt;(1.3)% - 4.9&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 6pt;"&gt;%&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 6pt;"&gt;(0.2)% - 3.9&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 6pt;"&gt;%&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 6pt;"&gt;(2.0)% - 3.5&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 6pt;"&gt;%&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 6pt;"&gt;3.0% - 12.7&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 6pt;"&gt;%&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 6pt;"&gt;Operating Profit Margin Range&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right;" nowrap="nowrap"&gt;&lt;font style="font-size: 6pt;"&gt;27.2% - 35.3&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;" nowrap="nowrap"&gt;&lt;font style="font-size: 6pt;"&gt;%&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;" nowrap="nowrap"&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right;" nowrap="nowrap"&gt;&lt;font style="font-size: 6pt;"&gt;22.7% - 31.4&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;" nowrap="nowrap"&gt;&lt;font style="font-size: 6pt;"&gt;%&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;" nowrap="nowrap"&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right;" nowrap="nowrap"&gt;&lt;font style="font-size: 6pt;"&gt;23.3% - 31.5&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;" nowrap="nowrap"&gt;&lt;font style="font-size: 6pt;"&gt;%&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;" nowrap="nowrap"&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right;" nowrap="nowrap"&gt;&lt;font style="font-size: 6pt;"&gt;25.5% - 31.2&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;" nowrap="nowrap"&gt;&lt;font style="font-size: 6pt;"&gt;%&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;" nowrap="nowrap"&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right;" nowrap="nowrap"&gt;&lt;font style="font-size: 6pt;"&gt;15.5% - 25.9&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;" nowrap="nowrap"&gt;&lt;font style="font-size: 6pt;"&gt;%&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;" nowrap="nowrap"&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right;" nowrap="nowrap"&gt;&lt;font style="font-size: 6pt;"&gt;16.2% - 27.4&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;" nowrap="nowrap"&gt;&lt;font style="font-size: 6pt;"&gt;%&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;" nowrap="nowrap"&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right;" nowrap="nowrap"&gt;&lt;font style="font-size: 6pt;"&gt;17.6% - 22.6&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;" nowrap="nowrap"&gt;&lt;font style="font-size: 6pt;"&gt;%&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;" nowrap="nowrap"&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right;" nowrap="nowrap"&gt;&lt;font style="font-size: 6pt;"&gt;18.8% - 21.7&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;" nowrap="nowrap"&gt;&lt;font style="font-size: 6pt;"&gt;%&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;" nowrap="nowrap"&gt;&lt;font style="font-size: 6pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right;" nowrap="nowrap"&gt;&lt;font style="font-size: 6pt;"&gt;(2.0)% - 16.8&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 6pt;"&gt;%&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;In August 2009, with the weak economy and its negative impact on online advertising, the Company lowered its internal projections for its Interactive One reporting unit, and performed its first interim impairment testing. Below are some of the key assumptions used in the income approach model for determining the fair value as of August 2009, as of October 1, 2009, as of October 1, 2010 and finally as of October 1, 2011. When compared to discount rates for the radio reporting units, the higher discount rate used to value the reporting unit is reflective of discount rates applicable to internet media businesses. As a result of the testing performed, the Company concluded no impairment to the carrying value of goodwill had occurred. We did not make any changes to the methodology for valuing or allocating goodwill when determining the carrying value.&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;table style="width: 100%; font: 10pt times new roman, times, serif;" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left; font-weight: bold;"&gt;Goodwill (Internet Segment)&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2"&gt;August 31, &lt;br  /&gt;2009&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2"&gt;October 1, &lt;br  /&gt;2009&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2"&gt;October 1, &lt;br  /&gt;2010&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2"&gt;October 1, &lt;br  /&gt;2011&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Pre-tax impairment charge (in millions)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; width: 64%;"&gt;Discount Rate&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; width: 6%;"&gt;17.0&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;%&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; width: 6%;"&gt;16.5&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;%&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; width: 6%;"&gt;15.0&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;%&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; width: 6%;"&gt;14.5&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;%&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Year 1 Revenue Growth Rate&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;13.7&lt;/td&gt;
&lt;td style="text-align: left;"&gt;%&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;13.7&lt;/td&gt;
&lt;td style="text-align: left;"&gt;%&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;24.5&lt;/td&gt;
&lt;td style="text-align: left;"&gt;%&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;20.3&lt;/td&gt;
&lt;td style="text-align: left;"&gt;%&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Long-term Revenue Growth Rate (Year 10)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;3.5&lt;/td&gt;
&lt;td style="text-align: left;"&gt;%&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;3.5&lt;/td&gt;
&lt;td style="text-align: left;"&gt;%&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;3.0&lt;/td&gt;
&lt;td style="text-align: left;"&gt;%&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;2.5&lt;/td&gt;
&lt;td style="text-align: left;"&gt;%&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Operating Profit Margin Range&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;" nowrap="nowrap"&gt;8.8% - 42.9&lt;/td&gt;
&lt;td style="text-align: left;" nowrap="nowrap"&gt;%&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;" nowrap="nowrap"&gt;10.8% - 42.2&lt;/td&gt;
&lt;td style="text-align: left;" nowrap="nowrap"&gt;%&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;" nowrap="nowrap"&gt;(0.6)% - 32.7&lt;/td&gt;
&lt;td style="text-align: left;" nowrap="nowrap"&gt;%&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;" nowrap="nowrap"&gt;0.0% - 28.8&lt;/td&gt;
&lt;td style="text-align: left;" nowrap="nowrap"&gt;%&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;The Company performed its first impairment testing in the Cable Television segment in December 2011. Below are some of the key assumptions used in the income approach model for determining the fair value as of December 2011. As a result of the testing performed, the Company concluded no impairment to the carrying value of goodwill had occurred.&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;/p&gt;
&lt;table style="width: 60%; font: 10pt times new roman, times, serif;" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="border-bottom: black 1pt solid; font-weight: bold;" nowrap="nowrap"&gt;Cable Television Goodwill&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;December&lt;br  /&gt;31,&lt;br  /&gt;2011&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Pre-tax impairment charge (in millions)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8211;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; width: 85%;"&gt;Discount Rate&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; width: 12%;"&gt;11.5&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;%&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Year 1 Revenue Growth Rate&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;13.9&lt;/td&gt;
&lt;td style="text-align: left;"&gt;%&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Long-term Revenue Growth Rate Range&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;2.7% - 13.9&lt;/td&gt;
&lt;td style="text-align: left;"&gt;%&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Operating Profit Margin Range&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;" nowrap="nowrap"&gt;29.9% - 42.2&lt;/td&gt;
&lt;td style="text-align: left;"&gt;%&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;The above four goodwill tables reflect some of the key valuation assumptions used for 12 of our 19 reporting units. As a result of our testing in 2011, goodwill of $14.5 million was impaired in one of our reporting units. There are seven remaining reporting units that had no goodwill carrying value balances as of December 31, 2011.&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;i&gt;Goodwill Valuation Results&lt;/i&gt;&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;The table below presents the changes in the Company&amp;#8217;s goodwill carrying values for its four reportable segments. The Company&amp;#8217;s goodwill balance increased from approximately $121.5 million at December 31, 2010 to $272.0 million at December 31, 2011. The increase of approximately $165.0 million was due to the consolidation of TV One, which was offset by a decrease due to the impairment of approximately $14.5 million of remaining goodwill in one of our reporting units. As noted above, the 19 reporting units consist of the 15 radio markets plus four other business divisions. The actual reporting units are not disclosed so as to not make sensitive information publicly available that could potentially be competitively harmful to the Company.&lt;/p&gt;
&lt;p style="text-align: left; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;table align="center" style="width: 80%; font: 10pt times new roman, times, serif;" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="10" nowrap="nowrap"&gt;Goodwill Carrying Balances&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;As of&lt;/td&gt;
&lt;td style="font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;" colspan="2" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;As of&lt;/td&gt;
&lt;td style="font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left; font-weight: bold;" nowrap="nowrap"&gt;Reporting Unit&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;December 31, &lt;br  /&gt;2010&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;Increase&lt;br  /&gt;(Decrease)&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;December 31, &lt;br  /&gt;2011&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;" colspan="2" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;(In millions)&lt;/td&gt;
&lt;td style="font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;" colspan="2" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; width: 55%;"&gt;Radio Broadcasting Segment&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right; width: 12%;"&gt;85.3&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right; width: 12%;"&gt;(14.5&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; width: 1%;"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right; width: 12%;"&gt;70.8&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;Reach Media Segment&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;14.4&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;14.4&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;Internet Segment&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;21.8&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;21.8&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;Cable Television Segment&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;165.0&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;165.0&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt; padding-left: 0.12in;"&gt;Total&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;121.5&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;150.5&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;272.0&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="text-align: left; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;In arriving at the estimated fair values for radio broadcasting licenses and goodwill, we also performed a reasonableness test by comparing our overall average implied multiple based on our cash flow projections and fair values to recently completed sales transactions, and by comparing our estimated fair values to the market capitalization of the Company. The results of these comparisons confirmed that the fair value estimates resulting from our annual assessments in 2011 were reasonable.&lt;/p&gt;
&lt;p style="text-align: left; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;i&gt;Intangible Assets Excluding Goodwill and Radio Broadcasting Licenses&lt;/i&gt;&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;Other intangible assets, excluding goodwill and radio broadcasting licenses, are being amortized on a straight-line basis over various periods. Other intangible assets consist of the following:&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;table style="width: 100%; font: 10pt times new roman, times, serif;" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="6" nowrap="nowrap"&gt;As of December 31,&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;2011&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;2010&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" nowrap="nowrap"&gt;Period of Amortization&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; font-weight: bold;" colspan="6" nowrap="nowrap"&gt;(In thousands)&lt;/td&gt;
&lt;td style="font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; width: 73%;"&gt;Trade names&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 6%;"&gt;17,133&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 6%;"&gt;17,138&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; width: 8%;"&gt;2-5 Years&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Talent agreement&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;19,549&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;19,549&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center;"&gt;10&amp;#160;Years&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Debt financing and modification costs&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;16,115&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;19,374&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center;"&gt;Term of debt&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Intellectual property&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;14,151&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;14,151&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center;"&gt;4-10 Years&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Affiliate agreements&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;186,755&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;7,769&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center;"&gt;1-10 Years&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Acquired income leases&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;1,282&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;1,282&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center;"&gt;3-9 Years&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Non-compete agreements&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;1,260&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;1,260&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center;"&gt;1-3 Years&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Advertiser agreements&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;47,688&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;6,613&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center;"&gt;2-7 Years&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Favorable office and transmitter leases&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;3,358&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;3,358&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center;"&gt;2-60 Years&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Brand names&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;2,539&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;2,539&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center;"&gt;2.5 Years&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Brand names - unamortized&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;39,688&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center;"&gt;2.5 Years&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;Other intangibles&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;3,662&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;1,258&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; padding-bottom: 1pt;"&gt;1-5 Years&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;353,180&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;94,291&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;Less: Accumulated amortization&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;(90,200&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;(54,255&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;Other intangible assets, net&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;262,980&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;40,036&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="text-align: left; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;Amortization expense of intangible assets for the years ended December 31, 2011, 2010 and 2009 was approximately $26.2&amp;#160;million, $7.0&amp;#160;million and $8.4 million, respectively. The amortization of deferred financing costs was charged to interest expense for all periods presented. The amount of deferred financing costs included in interest expense for the years ended December 31, 2011, 2010 and 2009 was approximately $4.7 million, $3.0 million and $2.4&amp;#160;million, respectively.&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;The following table presents the Company&amp;#8217;s estimate of amortization expense for the years 2012 through 2016 for intangible assets, excluding deferred financing costs:&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;table align="center" style="width: 80%; font: 10pt times new roman, times, serif;" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;
&lt;td style="font-weight: bold;"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;
&lt;td style="text-align: center;" colspan="2"&gt;&lt;b&gt;(In &lt;br  /&gt;thousands)&lt;/b&gt;&lt;/td&gt;
&lt;td&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; width: 80%;"&gt;2012&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 17%;"&gt;28,465&lt;/td&gt;
&lt;td style="width: 3%;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;2013&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;$&lt;/td&gt;
&lt;td style="text-align: right;"&gt;27,911&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;2014&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;$&lt;/td&gt;
&lt;td style="text-align: right;"&gt;27,314&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;2015&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;$&lt;/td&gt;
&lt;td style="text-align: right;"&gt;26,043&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;2016&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;$&lt;/td&gt;
&lt;td style="text-align: right;"&gt;25,886&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="text-align: left; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;Actual amortization expense may vary as a result of future acquisitions and dispositions.&lt;/p&gt;
&lt;p style="text-align: justify; background-color: white; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="text-align: justify; background-color: white; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;The gross value and accumulated amortization of the launch assets is as follows: &lt;/font&gt;&lt;/p&gt;
&lt;p style="text-align: justify; background-color: white; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;table style="width: 100%; font: 10pt times new roman, times, serif;" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2"&gt;December 31, 2011&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;"&gt;Weighted Average Period of Amortization&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; font-weight: bold;" colspan="2"&gt;(In thousands)&lt;/td&gt;
&lt;td style="font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; font-weight: bold;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; width: 56%;"&gt;Launch assets&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 18%;"&gt;39,543&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; width: 22%;"&gt;3.6 Years&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;Less: Accumulated amortization&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;(7,106&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;Launch assets, net&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;32,437&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="text-align: justify; background-color: white; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="text-align: justify; background-color: white; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;Future estimated launch support amortization expense or revenue reduction related to launch assets for years 2012 through 2015 is as follows:&lt;/font&gt;&lt;/p&gt;
&lt;p style="text-align: justify; background-color: white; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;table style="width: 100%; font: 10pt times new roman, times, serif;" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;
&lt;td style="font-weight: bold;"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;
&lt;td style="text-align: center;" colspan="2"&gt;&lt;b&gt;(In&amp;#160;thousands)&lt;/b&gt;&lt;/td&gt;
&lt;td&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; width: 82%;"&gt;2012&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;$&lt;/td&gt;
&lt;td style="text-align: right; width: 15%;"&gt;9,947&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;2013&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;$&lt;/td&gt;
&lt;td style="text-align: right;"&gt;9,947&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;2014&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;$&lt;/td&gt;
&lt;td style="text-align: right;"&gt;9,902&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;2015&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;$&lt;/td&gt;
&lt;td style="text-align: right;"&gt;2,641&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;b&gt;&amp;#160;&amp;#160;&lt;/b&gt;&lt;/p&gt;</us-gaap:GoodwillAndIntangibleAssetsDisclosureTextBlock>
<us-gaap:DebtDisclosureTextBlock contextRef="Context_FYE_31-Dec-2011">&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;b&gt;12.&amp;#160;&amp;#160;LONG-TERM DEBT:&lt;/b&gt;&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;Long-term debt consists of the following:&lt;/p&gt;
&lt;p style="text-align: left; background-color: white; text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;table style="width: 100%; font: 10pt times new roman, times, serif;" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2"&gt;December 31, &lt;br  /&gt;2011&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2"&gt;December &lt;br  /&gt;31, 2010&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; font-weight: bold;" colspan="6"&gt;(In thousands)&lt;/td&gt;
&lt;td style="font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; width: 70%;"&gt;Senior bank term debt&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 12%;"&gt;383,105&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 12%;"&gt;346,681&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Senior bank revolving debt&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;7,000&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;6&amp;#8540;% Senior Subordinated Notes due February 2013&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;747&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;747&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;12&amp;#189;/15% Senior Subordinated Notes due May 2016&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;312,800&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;286,794&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;10% Senior Secured TV One Notes due March 2016&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;119,000&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;Note payable&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;1,000&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Total debt&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;815,652&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;642,222&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Less: current portion&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;3,860&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;18,402&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;Less: original issue discount&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;6,748&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;Long-term debt, net&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;805,044&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;623,820&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="text-align: left; background-color: white; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;&lt;b&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="text-align: left; background-color: white; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;&lt;b&gt;&lt;i&gt;Credit Facilities&lt;/i&gt;&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="text-align: left; background-color: white; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;/p&gt;
&lt;p style="text-align: justify; background-color: white; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; background-color: white; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;&lt;b&gt;&lt;i&gt;March 2011 Refinancing Transaction&lt;/i&gt;&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="text-align: justify; background-color: white; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;/p&gt;
&lt;p style="text-align: justify; background-color: white; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; background-color: white; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;On March 31, 2011, the Company entered into a new senior secured credit facility (the &amp;#8220;2011 Credit Agreement&amp;#8221;) with a syndicate of banks, and simultaneously borrowed $386.0 million to retire all outstanding obligations under the Company&amp;#8217;s previous amended and restated credit agreement and to fund our obligation with respect to a capital call initiated by TV One.&amp;#160;&amp;#160;The total amount available under the 2011 Credit Agreement is $411.0 million, consisting of a $386.0 million term loan facility that matures on March 31, 2016 and a $25.0 million revolving loan facility that matures on March 31, 2015. Borrowings under the credit facilities are subject to compliance with certain covenants including, but not limited to, certain financial covenants. Proceeds from the credit facilities can be used for working capital, capital expenditures made in the ordinary course of business, its common stock repurchase program, permitted direct and indirect investments and other lawful corporate purposes.&lt;/font&gt;&lt;/p&gt;
&lt;p style="text-align: justify; background-color: white; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;&lt;/font&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; background-color: white; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;The 2011 Credit Agreement contains affirmative and negative covenants that the Company is required to comply with, including:&lt;/font&gt;&lt;/p&gt;
&lt;p style="text-align: justify; background-color: white; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; background-color: white; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;/p&gt;
&lt;table style="background-color: white; margin-top: 0pt; width: 100%; font: 10pt times new roman, times, serif; margin-bottom: 0pt;" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="vertical-align: top;"&gt;
&lt;td style="width: 18pt;"&gt;&lt;/td&gt;
&lt;td style="width: 18.75pt;"&gt;(b)&lt;/td&gt;
&lt;td style="text-align: justify;"&gt;&lt;font style="background-color: white;"&gt;maintaining an interest coverage ratio of no less than:&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;table style="width: 100%; border-collapse: collapse; font: 10pt times new roman, times, serif;" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="vertical-align: top;"&gt;
&lt;td style="text-align: right; width: 10%; font-family: wingdings;"&gt;&amp;#167;&lt;/td&gt;
&lt;td style="text-align: justify; width: 90%;"&gt;1.25 to 1.00 on June 30, 2011 and the last day of each fiscal quarter through&amp;#160;September 30, 2015; and&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: top;"&gt;
&lt;td style="text-align: right; font-family: wingdings;"&gt;&amp;#167;&lt;/td&gt;
&lt;td style="text-align: justify;"&gt;1.50 to 1.00 on December 31, 2015 and the last day of each fiscal quarter thereafter.&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="text-align: justify; background-color: white; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;&lt;/font&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; background-color: white; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;(b)&amp;#160;&amp;#160;&amp;#160;maintaining a senior secured leverage ratio of no greater than:&lt;/font&gt;&lt;/p&gt;
&lt;table style="width: 100%; border-collapse: collapse; font: 10pt times new roman, times, serif;" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="vertical-align: top;"&gt;
&lt;td style="text-align: right; width: 10%; font-family: wingdings;"&gt;&amp;#167;&lt;/td&gt;
&lt;td style="text-align: justify; width: 90%;"&gt;5.25 to 1.00 on June 30, 2011;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: top;"&gt;
&lt;td style="text-align: right; font-family: wingdings;"&gt;&amp;#167;&lt;/td&gt;
&lt;td style="text-align: justify;"&gt;5.00 to 1.00 on September 30, 2011 and December 31, 2011;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: top;"&gt;
&lt;td style="text-align: right; font-family: wingdings;"&gt;&amp;#167;&lt;/td&gt;
&lt;td style="text-align: justify;"&gt;4.75 to 1.00 on March 31, 2012;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: top;"&gt;
&lt;td style="text-align: right; font-family: wingdings;"&gt;&amp;#167;&lt;/td&gt;
&lt;td style="text-align: justify;"&gt;4.50 to 1.00 on June 30, 2012, September 30, 2012 and December 31, 2012;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: top;"&gt;
&lt;td style="text-align: right; font-family: wingdings;"&gt;&amp;#167;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;4.00 to 1.00 on March 31, 2013 and the last day of each fiscal quarter through&amp;#160;September 30, 2013;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: top;"&gt;
&lt;td style="text-align: right; font-family: wingdings;"&gt;&amp;#167;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;3.75 to 1.00 on December 31, 2013 and the last day of each fiscal quarter through&amp;#160;September 30, 2014;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: top;"&gt;
&lt;td style="text-align: right; font-family: wingdings;"&gt;&amp;#167;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;3.25 to 1.00 on December 31, 2014 and the last day of each fiscal quarter through&amp;#160;September 30, 2015; and&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: top;"&gt;
&lt;td style="text-align: right; font-family: wingdings;"&gt;&amp;#167;&lt;/td&gt;
&lt;td style="text-align: justify;"&gt;2.75 to 1.00 on December 31, 2015 and the last day of each fiscal quarter thereafter.&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="text-align: justify; background-color: white; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;&lt;/font&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; background-color: white; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;(c)&amp;#160;&amp;#160;&amp;#160;maintaining a total leverage ratio of no greater than:&lt;/font&gt;&lt;/p&gt;
&lt;table style="width: 100%; border-collapse: collapse; font: 10pt times new roman, times, serif;" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="vertical-align: top;"&gt;
&lt;td style="text-align: right; width: 10%; font-family: wingdings;"&gt;&amp;#167;&lt;/td&gt;
&lt;td style="text-align: justify; width: 90%;"&gt;9.25 to 1.00 on June 30, 2011 and the last day of each fiscal quarter through&amp;#160;December 31, 2011;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: top;"&gt;
&lt;td style="text-align: right; font-family: wingdings;"&gt;&amp;#167;&lt;/td&gt;
&lt;td style="text-align: justify;"&gt;9.00 to 1.00 on March 31, 2012;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: top;"&gt;
&lt;td style="text-align: right; font-family: wingdings;"&gt;&amp;#167;&lt;/td&gt;
&lt;td style="text-align: justify;"&gt;8.75 to 1.00 on June 30, 2012;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: top;"&gt;
&lt;td style="text-align: right; font-family: wingdings;"&gt;&amp;#167;&lt;/td&gt;
&lt;td style="text-align: justify;"&gt;8.50 to 1.00 on September 30, 2012 and December 31, 2012;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: top;"&gt;
&lt;td style="text-align: right; font-family: wingdings;"&gt;&amp;#167;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;8.00 to 1.00 on March 31, 2013 and the last day of each fiscal quarter through&amp;#160;September 30, 2013;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="text-align: left; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;table style="width: 100%; border-collapse: collapse; font: 10pt times new roman, times, serif;" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="vertical-align: top;"&gt;
&lt;td style="text-align: right; width: 10%; font-family: wingdings;"&gt;&amp;#167;&lt;/td&gt;
&lt;td style="text-align: left; width: 90%;"&gt;7.50 to 1.00 on December 31, 2013 and the last day of each fiscal quarter through&amp;#160;September 30, 2014;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: top;"&gt;
&lt;td style="text-align: right; font-family: wingdings;"&gt;&amp;#167;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;6.50 to 1.00 on December 31, 2014 and the last day of each fiscal quarter through&amp;#160;September 30, 2015; and&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: top;"&gt;
&lt;td style="text-align: right; font-family: wingdings;"&gt;&amp;#167;&lt;/td&gt;
&lt;td style="text-align: justify;"&gt;6.00 to 1.00 on December 31, 2015 and the last day of each fiscal quarter thereafter.&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="text-align: justify; background-color: white; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;&lt;/font&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; background-color: white; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;(d) limitations on:&lt;/font&gt;&lt;/p&gt;
&lt;table style="width: 100%; border-collapse: collapse; font: 10pt times new roman, times, serif;" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="vertical-align: top;"&gt;
&lt;td style="text-align: right; width: 10%; font-family: wingdings;"&gt;&amp;#167;&lt;/td&gt;
&lt;td style="text-align: justify; width: 90%;"&gt;liens;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: top;"&gt;
&lt;td style="text-align: right; font-family: wingdings;"&gt;&amp;#167;&lt;/td&gt;
&lt;td style="text-align: justify;"&gt;sale of assets;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: top;"&gt;
&lt;td style="text-align: right; font-family: wingdings;"&gt;&amp;#167;&lt;/td&gt;
&lt;td style="text-align: justify;"&gt;payment of dividends; and&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: top;"&gt;
&lt;td style="text-align: right; font-family: wingdings;"&gt;&amp;#167;&lt;/td&gt;
&lt;td style="text-align: justify;"&gt;mergers.&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="text-align: justify; background-color: white; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;As of December 31, 2011, ratios calculated in accordance with the 2011 Credit Agreement, are as follows:&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;table style="width: 100%; font: 10pt times new roman, times, serif;" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2"&gt;As&amp;#160;of &lt;br  /&gt;December &lt;br  /&gt;31,&amp;#160;2011&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2"&gt;Covenant &lt;br  /&gt;Limit&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2"&gt;Excess &lt;br  /&gt;Coverage&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; width: 61%;"&gt;Pro Forma Last Twelve Months Covenant EBITDA (In millions)&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 10%;"&gt;78.2&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; width: 10%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; width: 10%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Pro Forma Last Twelve Months Interest Expense (In millions)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right;"&gt;48.2&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Senior Debt (In millions)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right;"&gt;365.3&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Total Debt (In millions)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right;"&gt;678.8&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Senior Secured Leverage&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Senior Secured Debt / Covenant EBITDA&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;4.67&lt;/td&gt;
&lt;td style="text-align: left;"&gt;x&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;5.00&lt;/td&gt;
&lt;td style="text-align: left;"&gt;x&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;0.33&lt;/td&gt;
&lt;td style="text-align: left;"&gt;x&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Total Leverage&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Total Debt / Covenant EBITDA&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;8.68&lt;/td&gt;
&lt;td style="text-align: left;"&gt;x&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;9.25&lt;/td&gt;
&lt;td style="text-align: left;"&gt;x&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;0.57&lt;/td&gt;
&lt;td style="text-align: left;"&gt;x&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Interest Coverage&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Covenant EBITDA / Interest Expense&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;1.62&lt;/td&gt;
&lt;td style="text-align: left;"&gt;x&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;1.25&lt;/td&gt;
&lt;td style="text-align: left;"&gt;x&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;0.37&lt;/td&gt;
&lt;td style="text-align: left;"&gt;x&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;EBITDA - Earnings before interest, taxes, depreciation and amortization&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;In accordance with the 2011 Credit Agreement, the calculations for the ratios above do not include the operating results and related debt of Reach Media and TV One.&lt;/p&gt;
&lt;p style="text-align: left; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;As of December 31, 2011, the Company was in compliance with all of its financial covenants under the 2011 Credit Agreement.&amp;#160;&amp;#160;Measurement of interest coverage, senior secured leverage, and total leverage ratios began on June 30, 2011.&lt;/font&gt;&lt;/p&gt;
&lt;p style="text-align: justify; background-color: white; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="text-align: justify; background-color: white; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;Under the terms of the 2011 Credit Agreement, interest on base rate loans is payable quarterly and interest on LIBOR loans is payable monthly or quarterly.&amp;#160;The base rate is equal to the greater of the prime rate, the Federal Funds Effective Rate plus 0.50% and the LIBOR Rate for a one-month period plus 1.00%. &amp;#160;The applicable margin on the 2011 Credit Agreement is between (i) 4.50% and 5.50% on the revolving portion of the facility and (ii) 5.00% (with a base rate floor of 2.5% per annum) and 6.00% (with a LIBOR floor of 1.5% per annum) on the term portion of the facility. Commencing on June 30, 2011, quarterly installments of 0.25%, or $965,000, of the principal balance on the $386.0 million term loan are payable on the last day of each March, June, September and December.&lt;/font&gt;&lt;/p&gt;
&lt;p style="text-align: justify; background-color: white; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="text-align: justify; background-color: white; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;As of December 31, 2011, the Company had approximately $23.8 million of borrowing capacity under its revolving credit facility. Taking into consideration the financial covenants under the 2011 Credit Agreement,&amp;#160;approximately $23.8 million&amp;#160;of the revolving credit facility was available to be borrowed.&lt;/font&gt;&lt;/p&gt;
&lt;p style="text-align: justify; background-color: white; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;&lt;/font&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; background-color: white; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;As of December 31, 2011, the Company had outstanding approximately $383.1 million on its term credit facility. During the year ended December 31, 2011, the Company repaid approximately $2.9 million under the 2011 Credit Agreement. Proceeds from the 2011 Credit Agreement of approximately $378.3 million, net of original issue discount, were used to repay the Amended and Restated Credit Agreement (as defined below) and pay other fees and expenses, with the balance of the proceeds used to fund the TV One capital call. The original issue discount is being&amp;#160;reflected as an adjustment to the carrying amount of the debt obligation&amp;#160;and amortized to interest expense over the term of the credit facility.&lt;/font&gt;&lt;/p&gt;
&lt;p style="text-align: justify; background-color: white; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="text-align: left; background-color: white; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;&lt;b&gt;&lt;i&gt;Period between and including the November 2010 Refinancing Transactions and entering into the 2011 Credit Agreement&lt;/i&gt;&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="text-align: left; background-color: white; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;&lt;/font&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; background-color: white; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;On November 24, 2010, the Company entered into a credit agreement amendment with its prior syndicate of banks. The credit agreement amendment, which amended and restated the Previous Credit Agreement (as defined below) (as so amended and restated, the &amp;#8220;Amended and Restated Credit Agreement&amp;#8221;), among other things, replaced the existing amount of outstanding revolving loans with a $323.0 million term loan and provided for three tranches of revolving loans, including a $20.0 million revolver to be used for working capital, capital expenditures, investments, and other lawful corporate purposes, a $5.1 million revolver to be used solely to redeem and retire the 2011 Notes, and a $13.7 million revolver to be used solely to fund a capital call with respect to TV One (the &amp;#8220;November 2010 Refinancing Transaction&amp;#8221;).&amp;#160;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="text-align: justify; background-color: white; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="text-align: justify; background-color: white; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;The Amended and Restated Credit Agreement provided for maintenance of the following maximum fixed charge coverage ratio as of the last day of each fiscal quarter:&lt;/font&gt;&lt;/p&gt;
&lt;p style="text-align: justify; background-color: white; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;table style="width: 100%; border-collapse: collapse; font: 10pt times new roman, times, serif;" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="vertical-align: top;"&gt;
&lt;td style="border-bottom: windowtext 1pt solid; text-align: left; text-indent: 0.5in; width: 63%; font-weight: bold;"&gt;Effective Period&lt;/td&gt;
&lt;td style="text-align: left; width: 2%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: windowtext 1pt solid; text-align: left; text-indent: 0.5in; width: 35%; font-weight: bold;"&gt;Ratio&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: top;"&gt;
&lt;td style="text-align: left; text-indent: 0.5in;"&gt;November 24, 2010 to December 30, 2010&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; text-indent: 0.5in;"&gt;1.05 to 1.00&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: top;"&gt;
&lt;td style="text-align: left; text-indent: 0.5in;"&gt;December 31, 2010 to June 30, 2012&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; text-indent: 0.5in;"&gt;1.07 to 1.00&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="text-align: left; background-color: white; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="text-align: justify; background-color: white; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;The Amended and Restated Credit Agreement also provided for maintenance of the following maximum total leverage ratios (subject to certain adjustments if subordinated debt is issued or any portion of the $13.7 million revolver was used to fund a TV One capital call):&lt;/font&gt;&lt;/p&gt;
&lt;p style="text-align: justify; background-color: white; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;table style="width: 100%; border-collapse: collapse; font: 10pt times new roman, times, serif;" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="vertical-align: top;"&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left; text-indent: 0.5in; width: 63%; font-weight: bold;"&gt;Effective Period&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; width: 2%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left; text-indent: 0.5in; width: 35%; font-weight: bold;"&gt;Ratio&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: top;"&gt;
&lt;td style="text-align: left; text-indent: 0.5in;"&gt;November 24, 2010 to December 30, 2010&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; text-indent: 0.5in;"&gt;9.35 to 1.00&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: top;"&gt;
&lt;td style="text-align: left; text-indent: 0.5in;"&gt;December 31, 2010 to December 30, 2011&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; text-indent: 0.5in;"&gt;9.00 to 1.00&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: top;"&gt;
&lt;td style="text-align: left; text-indent: 0.5in;"&gt;December 31, 2011 and thereafter&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; text-indent: 0.5in;"&gt;9.25 to 1.00&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="text-align: justify; background-color: white; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="text-align: justify; background-color: white; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;&amp;#160;The Amended and Restated Credit Agreement also provided for maintenance of the following maximum senior leverage ratios (subject to certain adjustments if any portion of the $13.7 million revolver was used to fund a TV One capital call):&lt;/font&gt;&lt;/p&gt;
&lt;p style="text-align: justify; background-color: white; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;table style="width: 100%; border-collapse: collapse; font: 10pt times new roman, times, serif;" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="vertical-align: top;"&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left; text-indent: 0.5in; width: 63%; font-weight: bold;"&gt;Beginning&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; width: 2%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left; text-indent: 0.5in; width: 35%; font-weight: bold;"&gt;No greater than&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: top;"&gt;
&lt;td style="text-align: left; text-indent: 0.5in;"&gt;November 24, 2010 to December 30, 2010&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; text-indent: 0.5in;"&gt;5.25 to 1.00&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: top;"&gt;
&lt;td style="text-align: left; text-indent: 0.5in;"&gt;December 31, 2010 to March 30, 2011&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; text-indent: 0.5in;"&gt;5.00 to 1.00&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: top;"&gt;
&lt;td style="text-align: left; text-indent: 0.5in;"&gt;March 31, 2011 to September 29, 2011&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; text-indent: 0.5in;"&gt;4.75 to 1.00&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: top;"&gt;
&lt;td style="text-align: left; text-indent: 0.5in;"&gt;September 30, 2011 to December 30, 2011&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; text-indent: 0.5in;"&gt;4.50 to 1.00&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: top;"&gt;
&lt;td style="text-align: left; text-indent: 0.5in;"&gt;December 31, 2011 and thereafter&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; text-indent: 0.5in;"&gt;4.75 to 1.00&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="text-align: left; background-color: white; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="text-align: left; background-color: white; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;The Amended and Restated Credit Agreement provided for maintenance of average weekly availability at any time during any period set forth below:&lt;/font&gt;&lt;/p&gt;
&lt;p style="text-align: justify; background-color: white; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;table style="width: 100%; font: 10pt times new roman, times, serif;" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left; padding-left: 0.5in;"&gt;&lt;b&gt;Beginning&lt;/b&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; padding-bottom: 1pt; font-weight: bold;" colspan="2"&gt;Average&amp;#160;weekly&amp;#160;availability&amp;#160;no &lt;br  /&gt;less&amp;#160;than&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-left: 0.5in; width: 67%;"&gt;November 24, 2010 through and including June 30, 2011&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 30%;"&gt;10,000,000&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; text-indent: 0.5in;"&gt;July 1, 2011 and thereafter&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right;"&gt;15,000,000&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="text-align: justify; background-color: white; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="text-align: justify; background-color: white; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;During the period between&amp;#160;November 24, 2010, and as&amp;#160;of March 31, 2011, the Company was in compliance with all of its financial covenants under the Amended and Restated Credit Agreement.&lt;/font&gt;&lt;/p&gt;
&lt;p style="text-align: justify; background-color: white; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="text-align: justify; background-color: white; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;Under the terms of the Amended and Restated Credit Agreement, interest on both alternate base rate loans and LIBOR loans was payable monthly.&amp;#160;&amp;#160;The LIBOR interest rate floor was 1.00% and the alternate base rate was equal to the greater of the prime rate, the Federal Funds Effective Rate plus 0.50% and the LIBOR Rate for a one-month period plus 1.00%.&amp;#160;&amp;#160;Interest payable on (i) LIBOR loans were at LIBOR plus 6.25% and (ii) alternate base rate loans was at an alternate base rate plus 5.25% (and, in each case, could have been permanently increased if the Company exceeded certain senior leverage ratio levels, tested quarterly beginning June 30, 2011).&amp;#160;&amp;#160;The interest rate paid in excess of LIBOR could have been as high as 7.25% during the last quarter prior to maturity if the Company exceeded the senior leverage ratio levels on each test date. Commencing on September 30, 2011, quarterly installments of 0.25%, or $807,500, of the principal balance on the $323.0 million term loan were payable on the last day of each March, June, September and December.&lt;/font&gt;&lt;/p&gt;
&lt;p style="text-align: justify; background-color: white; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="text-align: justify; background-color: white; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;Under the terms of the Amended and Restated Credit Agreement, quarterly installments of principal on the&amp;#160;term loan facility were payable on the last day of each March, June, September and December commencing on September 30, 2007 in a percentage amount of the principal balance of the term loan facility outstanding on September 30, 2007, net of loan repayments, of 1.25% between September 30, 2007 and June 30, 2008, 5.0% between September 30, 2008 and June 30, 2009, and 6.25% between September 30, 2009 and June 30, 2012. Based on the (i) $174.4 million net principal balance of the term loan facility outstanding on September 30, 2008, (ii) a $70.0 million prepayment in March 2009, (iii) a $31.5 million prepayment in May 2009 and (iv) a $5.0 million prepayment in May 2010, quarterly payments of $4.0 million are payable between June 30, 2010 and June 30, 2012.&lt;/font&gt;&lt;/p&gt;
&lt;p style="text-align: justify; background-color: white; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="text-align: justify; background-color: white; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;On December 24, 2010, all remaining outstanding 2011 Notes were repurchased pursuant to the indenture governing the 2011 Notes.&amp;#160;&amp;#160;We incurred approximately $4.5 million in borrowings under the Amended and Restated Credit Agreement in connection with such repurchase.&lt;/font&gt;&lt;/p&gt;
&lt;p style="text-align: justify; background-color: white; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="text-align: justify; background-color: white; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;As a result of our repurchase and refinancing of the 2011 Notes, the expiration of the Amended and Restated Credit Agreement was June 30, 2012.&lt;/font&gt;&lt;/p&gt;
&lt;p style="text-align: left; background-color: white; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="text-align: justify; background-color: white; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;On March 31, 2011, the Company repaid all obligations under, and terminated, the Amended and Restated Credit Agreement with proceeds from the 2011 Credit Agreement. During the quarter ended March 31, 2011 the Company did not borrow from the Amended and Restated Credit Agreement and repaid approximately $353.7 million.&lt;/font&gt;&lt;/p&gt;
&lt;p style="text-align: justify; background-color: white; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="text-align: justify; background-color: white; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;&lt;b&gt;&lt;i&gt;&amp;#160;Pre November 2010 Refinancing Transactions&lt;/i&gt;&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="text-align: left; background-color: white; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="text-align: justify; background-color: white; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; In June 2005, the Company entered into the Credit Agreement with a syndicate of banks (the &amp;#8220;Previous Credit Agreement&amp;#8221;), and simultaneously borrowed $437.5 million to retire all outstanding obligations under its Previous Credit Agreement. The Previous Credit Agreement was amended in April 2006 and September 2007 to modify certain financial covenants and other provisions. Prior to the November 2010 Refinancing Transaction, the Previous Credit Agreement was to expire the earlier of (a) six months prior to the scheduled maturity date of the 8&amp;#8542;% Senior Subordinated Notes due July 1, 2011 (January 1, 2011)&amp;#160;(unless the 8&amp;#8542;% Senior Subordinated Notes have been repurchased or refinanced prior to such date) or (b) June 30, 2012. The total amount available under the Credit Agreement was $800.0 million, consisting of a $500.0 million revolving facility and a $300.0 million term loan facility. Borrowings under the credit facilities were subject to compliance with certain provisions including, but not limited, to financial covenants. The Company could use proceeds from the credit facilities for working capital, capital expenditures made in the ordinary course of business, its common stock repurchase program, permitted direct and indirect investments and other lawful corporate purposes.&lt;/font&gt;&lt;/p&gt;
&lt;p style="text-align: justify; background-color: white; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="text-align: justify; background-color: white; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; During the quarter ended March 31, 2010, we noted that certain of our subsidiaries identified as guarantors in our financial statements did not have requisite guarantees filed with the trustee as required under the terms of the indentures governing the 6&amp;#8540;% Senior Subordinated Notes due 2013 (the &amp;#8220;2013 Notes&amp;#8221;) and 2011 Notes (the &amp;#8220;Non-Joinder of Certain Subsidiaries&amp;#8221;). &amp;#160;The Non-Joinder of Certain Subsidiaries caused a non-monetary, technical default under the terms of the relevant indentures at December 31, 2009, causing a non-monetary, technical cross-default at December 31, 2009 under the terms of our Previous Credit Agreement. &amp;#160;On March 30, 2010, we joined the relevant subsidiaries as guarantors under the relevant indentures (the &amp;#8220;Joinder&amp;#8221;).&amp;#160; Further, on March 30, 2010, we entered into a third amendment (the &amp;#8220;Third Amendment&amp;#8221;) to the Previous Credit Agreement. &amp;#160;The Third Amendment provided for, among other things: (i) a $100.0 million revolver commitment reduction (from $500.0 million to $400.0 million) under the bank facilities; (ii) a 1.0% floor with respect to any loan bearing interest at a rate determined by reference to the adjusted LIBOR (iii) certain additional collateral requirements; (iv) certain limitations on the use of proceeds from the revolving loan commitments; (v) the addition of Interactive One, LLC as a guarantor of the loans under the Previous Credit Agreement and under the notes governed by the Company&amp;#8217;s 2011 Notes and 2013 Notes; (vi) the waiver of the technical cross-defaults that existed as of December 31, 2009 and through the date of the amendment arising due to the Non-Joinder of Certain Subsidiaries; and (vii) the payment of certain fees and expenses of the lenders in connection with their diligence work on the amendment.&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="text-align: justify; background-color: white; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="text-align: justify; background-color: white; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;Under the terms of the Previous Credit Agreement, upon any breach or default under either the 8&amp;#8542;% Senior Subordinated Notes due July 2011 or the 6&amp;#8540;% Senior Subordinated Notes due February 2013, the lenders could among other actions immediately terminate the Previous Credit Agreement and declare the loans then outstanding under the Previous Credit Agreement to be due and payable in whole immediately.&amp;#160;&amp;#160;Similarly, under the 8&amp;#8542;% Senior Subordinated Notes and the 6&amp;#8540;% Senior Subordinated Notes, a default under the terms of the Previous Credit Agreement would constitute an event of default, and the trustees or the holders of at least 25% in principal amount of the then outstanding notes (under either class) may declare the principal of such class of note and interest to be due and payable immediately.&lt;/font&gt;&lt;/p&gt;
&lt;p style="text-align: justify; background-color: white; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="text-align: justify; background-color: white; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;As of each of June 30, 2010, July 1, 2010 and September 30, 2010, we were not in compliance with the terms of the Previous Credit Agreement.&amp;#160;&amp;#160;More specifically, (i) as of June 30, 2010, we failed to maintain a total leverage ratio of 7.25 to 1.00 (ii) as of each of July 1, 2010 and September 30, 2010, as a result of a step down of the total leverage ratio from no greater than 7.25 to 1.00 to no greater than 6.50 to 1.00 effective for the period July 1, 2010 to September 30, 2011, we also failed to maintain the requisite total leverage ratio and (iii) as of September 30, 2010, we failed to maintain a senior leverage ratio of 4.00 to 1.00.&amp;#160;&amp;#160;On July 15, 2010, the Company and its subsidiaries entered into a forbearance agreement (the &amp;#8220;Forbearance Agreement&amp;#8221;) with Wells Fargo Bank, N.A. (successor by merger to Wachovia Bank, National Association), as administrative agent (the &amp;#8220;Agent&amp;#8221;), and financial institutions constituting the majority of outstanding loans and commitments (the &amp;#8220;Required Lenders&amp;#8221;) under the Previous Credit Agreement, relating to the defaults and events of default existing as of June 30, 2010 and July 1, 2010.&amp;#160;&amp;#160;On August 13, 2010, we entered into an amendment to the&amp;#160;&amp;#160;Forbearance Agreement (the &amp;#8220;Forbearance Agreement Amendment&amp;#8221;) that, among other things, extended the termination date of the Forbearance Agreement to September 10, 2010, unless terminated earlier by its terms, and provided additional forbearance related to the then anticipated default caused by an opinion of Ernst&amp;#160;&amp;amp; Young LLP expressing substantial doubt about the Company&amp;#8217;s ability to continue as a going concern as issued in connection with the restatement of our financial statements.&amp;#160;&amp;#160;Under the Forbearance Agreement and the Forbearance Agreement Amendment, the Agent and the Required Lenders maintained the right to deliver &amp;#8220;payment blockage notices&amp;#8221; to the trustees for the holders of the 2011 Notes and/or the 2013 Notes.&lt;/font&gt;&lt;/p&gt;
&lt;p style="text-align: justify; background-color: white; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="text-align: justify; background-color: white; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;On August 5, 2010, the Agent delivered a payment blockage notice to the Trustee under the Indenture governing our 2013 Notes.&amp;#160;&amp;#160;As a result, neither we nor any of our guaranteeing subsidiaries could make any payment or distribution of any kind or character in respect of obligations under the 2013 Notes, including the interest payment that was scheduled to be made on August 16, 2010.&amp;#160;&amp;#160;The 30-day grace period for the nonpayment of interest before such nonpayment constituted an event of default under the 2013 Notes Indenture expired on September 15, 2010.&amp;#160;&amp;#160;While the trustee or holders of at least 25% in principal amount of the then outstanding 2013 Notes could have declared the principal amount, and accrued and unpaid interest, on all outstanding 2013 Notes to be due and payable immediately as a result of such event of default, no such remedies were exercised as we continued to negotiate the terms of the amended exchange offer and a new support agreement with the members of the ad hoc group of holders of our 2011 Notes and 2013 Notes.&amp;#160;&amp;#160;The event of default under the 2013 Notes Indenture also constituted an event of default under the Previous Credit Agreement.&amp;#160;&amp;#160;While the Forbearance Agreement Amendment expired by its terms on September 10, 2010, we and the Agent continued to negotiate the terms of a credit facility amendment and the Agent and the lenders did not exercise additional remedies under the Previous Credit Agreement. The Amended and Restated Credit Agreement cured all of these issues.&lt;/font&gt;&lt;/p&gt;
&lt;p style="text-align: left; background-color: white; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="text-align: justify; background-color: white; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;&lt;b&gt;&lt;i&gt;Senior Subordinated Notes&lt;/i&gt;&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="text-align: left; background-color: white; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;&lt;/font&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; background-color: white; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;&lt;b&gt;&lt;i&gt;Period after the November 2010 Refinancing Transactions and after the March 2011 Refinancing Transaction&lt;/i&gt;&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="text-align: justify; background-color: white; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;&lt;i&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/i&gt; On November 24, 2010, we issued $286.8 million of our 12&amp;#189;/15% Senior Subordinated Notes due May 2016 in a private placement and exchanged and then cancelled approximately $97.0 million of $101.5 million in aggregate principal amount outstanding of our 2011 Notes and approximately $199.3 million of $200.0 million in aggregate principal amount outstanding of our 2013 Notes (the 2013 Notes together with the 2011 Notes, the &amp;#8220;Prior Notes&amp;#8221;).&amp;#160;&amp;#160;We entered into supplemental indentures in respect of each of the Prior Notes which waived any and all existing defaults and events of default that had arisen or may have arisen that may be waived and eliminated substantially all of the covenants in each indenture governing the Prior Notes, other than the covenants to pay principal and interest on the Prior Notes when due, and eliminated or modified the related events of default. Subsequently, all remaining outstanding 2011 Notes were repurchased pursuant to the indenture governing the 2011 Notes, effective as of December 24, 2010.&lt;/font&gt;&lt;/p&gt;
&lt;p style="text-align: justify; background-color: white; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;&lt;/font&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; background-color: white; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;As of December 31, 2011, the Company had outstanding $747,000 of its 6&amp;#8540;% Senior Subordinated Notes due February 2013 and $312.8 million of our 12&amp;#189;/15% Senior Subordinated Notes due May 2016. During the year ended December 31, 2010, pursuant to the debt exchange, the Company repurchased $101.5 million of the 8&amp;#8542;% Senior Subordinated Notes at par and $199.3 million of the 6&amp;#8540;% Senior Subordinated Notes at an average discount of 5.0%, and recorded a gain on the retirement of debt of approximately $6.6 million, net of the write-off of deferred financing costs of approximately $3.3 million.&amp;#160;The 12&amp;#189;/15% Senior Subordinated Notes due May 2016 had a carrying value of $312.8 million and a fair value of approximately $262.8&amp;#160;million as of December 31, 2011, and the 6&amp;#8540;%&amp;#160;Senior Subordinated Notes due February 2013 had a carrying value of $747,000 and a fair value of approximately $710,000 as of December 31, 2011.&amp;#160;The fair values were determined based on the trading value of the instruments as of the reporting date.&lt;/font&gt;&lt;/p&gt;
&lt;p style="text-align: justify; background-color: white; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="text-align: justify; background-color: white; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;Interest payments under the terms of the 6&amp;#8540;% Senior Subordinated Notes are due in February and August.&amp;#160;&amp;#160;Based on the $747,000 principal balance of the 6&amp;#8540;% Senior Subordinated Notes outstanding on September 30, 2011, interest payments of $24,000 are payable each February and August through February 2013.&lt;/font&gt;&lt;/p&gt;
&lt;p style="text-align: justify; background-color: white; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="text-align: justify; background-color: white; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;Interest on the 12&amp;#189;/15% Senior Subordinated Notes will be payable in cash, or at our election, partially in cash and partially through the issuance of additional 12&amp;#189;/15% Senior Subordinated Notes (a &amp;#8220;PIK Election&amp;#8221;) on a quarterly basis in arrears on February 15, May 15, August 15 and November 15, commencing on February 15, 2011.&amp;#160;&amp;#160;We may make a PIK Election only with respect to interest accruing up to but not including May 15, 2012, and with respect to interest accruing from and after May 15, 2012 such interest shall accrue at a rate of 12.5% per annum and shall be payable in cash.&lt;/font&gt;&lt;/p&gt;
&lt;p style="text-align: justify; background-color: white; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="text-align: justify; background-color: white; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;Interest on the Exchange Notes will accrue from the date of original issuance or, if interest has already been paid, from the date it was most recently paid.&amp;#160;&amp;#160;Interest will accrue for each quarterly period at a rate of 12.5% per annum if the interest for such quarterly period is paid fully in cash.&amp;#160;&amp;#160;In the event of a PIK Election, including the PIK Election currently in effect, the interest paid in cash and the interest paid-in-kind by issuance of additional Exchange Notes (&amp;#8220;PIK Notes&amp;#8221;) will accrue for such quarterly period at 6.0% cash per annum and 9.0% PIK per annum.&lt;/font&gt;&lt;/p&gt;
&lt;p style="text-align: justify; background-color: white; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="text-align: justify; background-color: white; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;In the absence of an election for any interest period, interest on the Exchange Notes shall be payable according to the election for the previous interest period, provided that interest accruing from and after May 15, 2012 shall accrue at a rate of 12.5% per annum and shall be payable in cash. A PIK Election is currently in effect and the Company anticipates it remaining in effect through May 15, 2012.&lt;/font&gt;&lt;/p&gt;
&lt;p style="text-align: justify; background-color: white; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; background-color: white; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;During the year ended December 31, 2011, the Company paid cash interest in the amount of approximately $17.3 million and issued approximately $26.0 million of additional 12&amp;#189;/15% Senior Subordinated Notes in accordance with the PIK Election that is currently in effect.&lt;/font&gt;&lt;/p&gt;
&lt;p style="text-align: justify; background-color: white; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="text-align: justify; background-color: white; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;The indentures governing the Company&amp;#8217;s 12&amp;#189;/15% Senior Subordinated Notes also contain covenants that restrict, among other things, the ability of the Company to incur additional debt, purchase common stock, make capital expenditures, make investments or other restricted payments, swap or sell assets, engage in transactions with related parties, secure non-senior debt with assets, or merge, consolidate or sell all or substantially all of its assets.&lt;/font&gt;&lt;/p&gt;
&lt;p style="text-align: justify; background-color: white; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="text-align: justify; background-color: white; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;The Company conducts a portion of its business through its subsidiaries. Certain of the Company&amp;#8217;s subsidiaries have fully and unconditionally guaranteed the Company&amp;#8217;s 12&amp;#189;/15% Senior Subordinated Notes, the 6&amp;#8540;% Senior Subordinated Notes and the Company&amp;#8217;s obligations under the 2011 Credit Agreement.&lt;/font&gt;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; background-color: white; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;&lt;b&gt;&lt;i&gt;Period prior to November 2010 Refinancing Transactions&lt;/i&gt;&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="text-align: justify; background-color: white; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="text-align: justify; background-color: white; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;Subsequent to December 31, 2009, we noted that certain of our subsidiaries identified as guarantors in our financial statements did not have requisite guarantees filed with the trustee as required under the terms of the indentures (the &amp;#8220;Non-Joinder of Certain Subsidiaries&amp;#8221;). &amp;#160;The Non-Joinder of Certain Subsidiaries caused a non-monetary, technical default under the terms of the relevant indentures at December 31, 2009, causing a non-monetary, technical cross-default at December 31, 2009 under the terms of our Credit Agreement dated as of June 13, 2005. &amp;#160;We have since joined the relevant subsidiaries as guarantors under the relevant indentures (the &amp;#8220;Joinder&amp;#8221;).&amp;#160; Further, on March 30, 2010, we entered into a third amendment (the &amp;#8220;Third Amendment&amp;#8221;) to the Credit Agreement. &amp;#160;The Third Amendment provides for, among other things: (i) a $100.0 million revolver commitment reduction under the bank facilities; (ii) a 1.0% floor with respect to any loan bearing interest at a rate determined by reference to the adjusted LIBOR; (iii) certain additional collateral requirements; (iv) certain limitations on the use of proceeds from the revolving loan commitments; (v) the addition of Interactive One, LLC as a guarantor of the loans under the Credit Agreement and under the notes governed by the Company&amp;#8217;s 2001 and 2005 senior subordinated debt documents; (vi) the waiver of the technical cross-defaults that existed as of December 31, 2009 and through the date of the amendment arising due to the Non-Joinder of Certain Subsidiaries; and (vii) the payment of certain fees and expenses of the lenders in connection with their diligence in connection with the amendment.&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="text-align: justify; background-color: white; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="text-align: justify; background-color: white; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;On August 5, 2010, the Agent under our Previous Credit Agreement delivered a payment blockage notice to the Trustee under the Indenture governing our 2013 Notes. As a result, neither we nor any of our guaranteeing subsidiaries may make any payment or distribution of any kind or character in respect of obligations under the 2013 Notes, including the interest payment that was scheduled to be made on August 16, 2010.&amp;#160;&amp;#160;The 30-day grace period for the nonpayment of interest before such nonpayment constituted an event of default under the 2013 Notes Indenture expired on September 15, 2010. While the trustee or holders of at least 25% in principal amount of the then outstanding 2013 Notes could have declared the principal amount, and accrued and unpaid interest, on all outstanding 2013 Notes to be due and payable immediately as a result of such event of default, no such remedies were exercised as we continued to negotiate the terms of the amended exchange offer and a new support agreement with the members of the ad hoc group of holders of our 2011 and 2013 Notes. The event of default under the 2013 Notes Indenture also constituted an event of default under the Previous Credit Agreement. As of November 24, 2010, any and all existing defaults and events of default that had arisen or may have arisen were cured.&lt;/font&gt;&lt;/p&gt;
&lt;p style="text-align: justify; background-color: white; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="text-align: justify; background-color: white; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;As of each of June 30, 2010, July 1, 2010 and September 30, 2010, we were not in compliance with the terms of our Previous Credit Agreement.&amp;#160;&amp;#160;More specifically, (i) as of June 30, 2010, we failed to maintain a total leverage ratio of 7.25 to 1.00 (ii) as of each of July 1, 2010 and September 30, 2010, as a result of a step down of the total leverage ratio from no greater than 7.25 to 1.00 to no greater than 6.50 to 1.00 effective for the period July 1, 2010 to September 30, 2011, we also failed to maintain the requisite total leverage ratio and (iii) as of September 30, 2010, we failed to maintain a senior leverage ratio of 4.00 to 1.00.&amp;#160;&amp;#160;On July 15, 2010, the Company and its subsidiaries entered into the Forbearance Agreement with Wells Fargo Bank, N.A. (successor by merger to Wachovia Bank, National Association), as Agent, and the Required Lenders under our Previous Credit Agreement, relating to the defaults and events of default existing as of June 30, 2010 and July 1, 2010.&amp;#160;&amp;#160;On August 13, 2010, we entered into an amendment to the&amp;#160;&amp;#160;Forbearance Agreement Amendment that, among other things, extended the termination date of the Forbearance Agreement to September 10, 2010, unless terminated earlier by its terms, and provided additional forbearance related to the then anticipated default caused by an opinion of Ernst&amp;#160;&amp;amp; Young LLP expressing substantial doubt about the Company&amp;#8217;s ability to continue as a going concern as issued in connection with the restatement of our financial statements.&amp;#160;&amp;#160;Under the Forbearance Agreement and the Forbearance Agreement Amendment, the Agent and the Required Lenders maintained the right to deliver &amp;#8220;payment blockage notices&amp;#8221; to the trustees for the holders of the 2011 Notes and/or the 2013 Notes.&lt;/font&gt;&lt;/p&gt;
&lt;p style="text-align: justify; background-color: white; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="text-align: justify; background-color: white; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;&amp;#160;On August 5, 2010, the Agent under our Previous Credit Agreement delivered a payment blockage notice to the Trustee under the Indenture governing our 2013 Notes.&amp;#160;&amp;#160;As a result, neither we nor any of our guaranteeing subsidiaries could make any payment or distribution of any kind or character in respect of obligations under the 2013 Notes, including the interest payment that was scheduled to be made on August 16, 2010.&amp;#160;&amp;#160;The 30-day grace period for the nonpayment of interest before such nonpayment constituted an event of default under the 2013 Notes Indenture expired on September 15, 2010.&amp;#160;&amp;#160;While the trustee or holders of at least 25% in principal amount of the then outstanding 2013 Notes could declare the principal amount, and accrued and unpaid interest, on all outstanding 2013 Notes to be due and payable immediately as a result of such event of default, as of the date of this filing, no such remedies were exercised as we continued to negotiate the terms of the amended exchange offer and a new support agreement with the members of the ad hoc group of holders of our 2011 and 2013 Notes.&amp;#160;&amp;#160;The event of default under the 2013 Notes Indenture also constituted an event of default under the Previous Credit Agreement.&amp;#160;&amp;#160;As of November 24, 2010, as a result of the November 2010 Refinancing Transactions, any and all existing defaults and events of default that had arisen or may have arisen were cured.&lt;/font&gt;&lt;/p&gt;
&lt;p style="text-align: left; background-color: white; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="margin: 0px;"&gt;&lt;font style="background-color: white;"&gt;&lt;b&gt;&lt;i&gt;TV One Senior Secured Notes&lt;/i&gt;&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="text-align: left; background-color: white; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="text-align: justify; background-color: white; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;In connection with the Redemption&amp;#160;Financing, TV One issued $119.0 million in senior secured notes on February 25, 2011. The notes were issued in connection with the repurchase of its equity interest from certain financial investors and TV One management. The notes bear interest at 10.0% per annum, which is payable monthly, and the entire principal amount is due on March 15, 2016.&lt;/font&gt;&lt;/p&gt;
&lt;p style="text-align: left; background-color: white; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: left; background-color: white; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;&lt;b&gt;&lt;i&gt;Note Payable&lt;/i&gt;&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="text-align: left; background-color: white; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="text-align: justify; background-color: white; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; Reach Media issued a $1.0 million promissory note in November 2009 to a subsidiary of Citadel, which was acquired by Cumulus Media Inc. in September 2011. As noted above, the note was issued in connection with Reach Media reacquiring Citadel&amp;#8217;s noncontrolling stock ownership in Reach Media as well as entering into a new sales representation agreement with Radio Networks, a subsidiary of Citadel. The note had an interest rate of 7.0% per annum, which was payable quarterly, and the entire principal amount was due on December 31, 2011. The note was repaid on December 30, 2011.&lt;/font&gt;&lt;/p&gt;
&lt;p style="text-align: justify; background-color: white; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="text-align: justify; background-color: white; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;Future scheduled minimum principal payments of debt as of December 31, 2011 are as follows:&lt;/font&gt;&lt;/p&gt;
&lt;p style="text-align: justify; background-color: white; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;table style="width: 80%; font: 10pt times new roman, times, serif;" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;Senior &lt;br  /&gt;Subordinated Notes&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;Credit Facility&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;Senior Secured&lt;br  /&gt;Notes&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; font-weight: bold;" colspan="10"&gt;(In thousands)&lt;/td&gt;
&lt;td style="font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; width: 41%;"&gt;2012&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 20%;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 15%;"&gt;3,860&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 15%;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;2013&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;747&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;3,860&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;2014&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;3,860&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;2015&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;3,860&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;2016&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;312,800&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;367,665&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;119,000&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;Total Debt&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;313,547&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;383,105&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;119,000&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="text-align: left; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;</us-gaap:DebtDisclosureTextBlock>
<us-gaap:AdditionalFinancialInformationDisclosureTextBlock contextRef="Context_FYE_31-Dec-2011">&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;b&gt;21.&amp;#160;&amp;#160;CONDENSED CONSOLIDATING FINANCIAL STATEMENTS:&lt;/b&gt;&lt;/p&gt;
&lt;p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; background-color: white; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;The Company conducts a portion of its business through its subsidiaries. All of the Company&amp;#8217;s Subsidiary Guarantors have fully and unconditionally guaranteed the Company&amp;#8217;s 6&amp;#8540;%&amp;#160;Senior Subordinated Notes due February 2013, the 12&amp;#189;/15% Senior Subordinated Notes due May 2016, and the Company&amp;#8217;s obligations under the 2011 Credit Agreement.&lt;/font&gt;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;Set forth below are consolidated balance sheets for the Company and the Subsidiary Guarantors as of December&amp;#160;31, 2011 and 2010, and related consolidated statements of operations and cash flows for each of the three years ended December&amp;#160;31, 2011. The equity method of accounting has been used by the Company to report its investments in subsidiaries. Separate financial statements for the Subsidiary Guarantors are not presented based on management&amp;#8217;s determination that they do not provide additional information that is material to investors.&lt;/p&gt;
&lt;p style="text-align: justify; text-indent: 0.25in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: center; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;b&gt;RADIO ONE, INC. AND SUBSIDIARIES&lt;/b&gt;&lt;/p&gt;
&lt;p style="text-align: center; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;b&gt;CONSOLIDATING BALANCE SHEETS&lt;/b&gt;&lt;/p&gt;
&lt;p style="text-align: center; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;b&gt;As of December 31, 2011&lt;/b&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: center; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;table style="width: 100%; font: 10pt times new roman, times, serif;" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;Combined&lt;/td&gt;
&lt;td style="font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center;" colspan="2" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center;" colspan="2" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center;" colspan="2" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;Guarantor&lt;/td&gt;
&lt;td style="font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;Radio&amp;#160;One,&lt;/td&gt;
&lt;td style="font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center;" colspan="2" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center;" colspan="2" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;Subsidiaries&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;Inc.&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;Eliminations&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;Consolidated&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; font-weight: bold;" colspan="14"&gt;(In thousands)&lt;/td&gt;
&lt;td style="font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: center; font-weight: bold;"&gt;ASSETS&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;CURRENT ASSETS:&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-left: 9pt; width: 56%;"&gt;Cash and cash equivalents&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 8%;"&gt;187&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 8%;"&gt;35,752&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 8%;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 8%;"&gt;35,939&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-left: 9pt;"&gt;Short-term investments&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;761&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;761&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-left: 9pt;"&gt;Trade accounts receivable, net of allowance for doubtful accounts&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;29,896&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;53,980&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;83,876&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-left: 9pt;"&gt;Prepaid expenses and other current assets&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;1,691&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;6,730&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;8,421&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-left: 9pt;"&gt;Current portion of content assets&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;27,383&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;27,383&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; padding-left: 9pt;"&gt;Current assets from discontinued operations&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;(35&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;125&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;90&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-left: 9pt;"&gt;Total current assets&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;31,739&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;124,731&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;156,470&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;PREPAID PROGRAMMING AND DEPOSITS&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;2,329&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;2,329&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;PROPERTY AND EQUIPMENT, net&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;17,994&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;15,994&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;33,988&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;INTANGIBLE ASSETS, net&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;551,271&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;693,590&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;1,244,861&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;CONTENT ASSETS, net&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;36,605&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;36,605&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;LONG-TERM INVESTMENTS&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;7,428&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;7,428&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;INVESTMENT IN SUBSIDIARIES&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;588,292&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(588,292&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;OTHER ASSETS&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;204&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;3,121&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;3,325&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;NON-CURRENT ASSETS FROM DISCONTINUED OPERATIONS&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;1,476&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;1,476&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt; padding-left: 9pt;"&gt;Total assets&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;602,684&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;1,472,090&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;(588,292&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;1,486,482&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: center; font-weight: bold;"&gt;LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;CURRENT LIABILITIES:&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-left: 9pt;"&gt;Accounts payable&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right;"&gt;1,568&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right;"&gt;4,058&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right;"&gt;5,626&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-left: 9pt;"&gt;Accrued interest&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;6,703&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;6,703&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-left: 9pt;"&gt;Accrued compensation and related benefits&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;1,958&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;9,023&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;10,981&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-left: 9pt;"&gt;Current portion of content payables&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;20,807&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;20,807&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-left: 9pt;"&gt;Income taxes payable&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;1,794&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;1,794&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-left: 9pt;"&gt;Other current liabilities&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;9,367&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;2,860&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;12,227&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-left: 9pt;"&gt;Current portion of long-term debt&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;3,860&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;3,860&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; padding-left: 9pt;"&gt;Current liabilities from discontinued operations&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;230&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;30&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;260&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-left: 9pt;"&gt;Total current liabilities&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;13,123&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;49,135&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;62,258&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;LONG-TERM DEBT, net of current portion and original issue discount&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;805,044&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;805,044&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;CONTENT PAYABLES,&lt;b&gt; &lt;/b&gt;net of current portion&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;16,168&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;16,168&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;OTHER LONG-TERM LIABILITIES&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;1,240&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;17,281&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;18,521&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;DEFERRED&amp;#160;TAX LIABILITIES&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;153,521&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;153,521&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;NON-CURRENT LIABILITIES FROM DISCONTINUED OPERATIONS&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;29&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;29&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; padding-left: 9pt;"&gt;Total liabilities&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;14,392&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;1,041,149&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;1,055,541&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;REDEEMABLE NONCONTROLLING INTERESTS&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;20,343&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;20,343&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;STOCKHOLDERS&amp;#8217; EQUITY:&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-left: 9pt;"&gt;Common stock&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;50&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;50&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-left: 9pt;"&gt;Accumulated other comprehensive income&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(199&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(199&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-left: 9pt;"&gt;Additional paid-in capital&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;197,680&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;1,001,840&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(197,680&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;1,001,840&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; padding-left: 9pt;"&gt;Retained earnings (accumulated deficit)&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;390,612&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;(796,156&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;(390,612&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;(796,156&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-left: 9pt;"&gt;Total stockholders&amp;#8217; equity&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;588,292&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;205,535&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(588,292&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;205,535&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;Noncontrolling interest&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;205,063&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;205,063&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;Total Equity&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;588,292&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;410,598&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;(588,292&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;410,598&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt; padding-left: 9pt;"&gt;Total liabilities, redeemable noncontrolling interests and equity&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;602,684&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;1,472,090&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;(588,292&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;1,486,482&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="text-align: left; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: center; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;b&gt;RADIO ONE, INC. AND SUBSIDIARIES&lt;/b&gt;&lt;/p&gt;
&lt;p style="text-align: center; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;b&gt;CONSOLIDATING BALANCE SHEETS&lt;/b&gt;&lt;/p&gt;
&lt;p style="text-align: center; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;b&gt;As of December 31, 2010&lt;/b&gt;&lt;/p&gt;
&lt;p style="text-align: left; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;table style="width: 100%; font: 10pt times new roman, times, serif;" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;Combined&lt;/td&gt;
&lt;td style="font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center;" colspan="2" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center;" colspan="2" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center;" colspan="2" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;Guarantor&lt;/td&gt;
&lt;td style="font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;Radio&amp;#160;One,&lt;/td&gt;
&lt;td style="font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center;" colspan="2" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center;" colspan="2" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;Subsidiaries&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;Inc.&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;Eliminations&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;Consolidated&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; font-weight: bold;" colspan="14"&gt;(In thousands)&lt;/td&gt;
&lt;td style="font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: center; font-weight: bold;"&gt;ASSETS&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;CURRENT ASSETS:&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-left: 9pt; width: 56%;"&gt;Cash and cash equivalents&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 8%;"&gt;1,043&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 8%;"&gt;8,149&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 8%;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 8%;"&gt;9,192&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-left: 9pt;"&gt;Trade accounts receivable, net of allowance for doubtful accounts&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;30,427&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;28,000&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;58,427&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-left: 9pt;"&gt;Prepaid expenses and other current assets&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;1,323&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;7,050&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;8,373&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; padding-left: 9pt;"&gt;Current assets from discontinued operations&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;31&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;128&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;159&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-left: 9pt;"&gt;Total current assets&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;32,824&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;43,327&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;76,151&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;PROPERTY AND EQUIPMENT, net&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;19,392&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;13,649&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;33,041&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;INTANGIBLE ASSETS, net&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;567,600&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;271,345&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;838,945&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;INVESTMENT IN SUBSIDIARIES&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;609,199&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(609,199&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;INVESTMENT IN AFFILIATED COMPANY&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;47,470&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;47,470&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;OTHER ASSETS&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;497&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;1,484&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;1,981&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;NON-CURRENT ASSESTS FROM DISCONTINUED OPERATIONS&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;1,624&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;1,624&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt; padding-left: 9pt;"&gt;Total assets&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;621,937&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;986,474&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; color: black;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left; color: black;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right; color: black;"&gt;(609,199&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt; color: black;"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;999,212&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: center; font-weight: bold;"&gt;LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS&amp;#160;AND&amp;#160;STOCKHOLDERS' EQUITY&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;CURRENT LIABILITIES:&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-left: 9pt;"&gt;Accounts payable&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right;"&gt;411&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right;"&gt;2,598&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right;"&gt;3,009&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-left: 9pt;"&gt;Accrued interest&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;4,558&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;4,558&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-left: 9pt;"&gt;Accrued compensation and related benefits&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;2,332&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;8,389&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;10,721&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-left: 9pt;"&gt;Income taxes payable&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;1,671&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;1,671&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-left: 9pt;"&gt;Other current liabilities&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;8,383&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;3,321&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;11,704&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-left: 9pt;"&gt;Current portion of long-term debt&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;18,402&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;18,402&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; padding-left: 9pt;"&gt;Current liabilities from discontinued operations&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;44&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;(10&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&lt;font style="color: black;"&gt;)&lt;/font&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; color: black;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left; color: black;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right; color: black;"&gt;&lt;u&gt;&amp;#8212;&lt;/u&gt;&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; color: black;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;34&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-left: 9pt;"&gt;Total current liabilities&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;11,170&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;38,929&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;50,099&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;LONG-TERM DEBT, net of current portion&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;623,820&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;623,820&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;OTHER LONG-TERM LIABILITIES&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;1,531&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;9,363&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;10,894&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;DEFERRED&amp;#160;TAX LIABILITIES&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;89,392&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;89,392&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;NON-CURRENT LIABILITIES FROM DISCONTINUED OPERATIONS&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;37&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;37&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; padding-left: 9pt;"&gt;Total liabilities&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;12,738&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;761,504&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;774,242&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;REDEEMABLE NONCONTROLLING INTERESTS&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;30,635&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;30,635&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;STOCKHOLDERS&amp;#8217; EQUITY:&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-left: 9pt;"&gt;Common stock&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;54&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;54&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-left: 9pt;"&gt;Accumulated comprehensive income adjustments&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(1,424&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(1,424&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-left: 9pt;"&gt;Additional paid-in capital&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;237,515&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;994,750&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(237,515&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;994,750&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; padding-left: 9pt;"&gt;Retained earnings (accumulated deficit)&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;371,684&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;(799,045&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;)&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; color: black;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left; color: black;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right; color: black;"&gt;&amp;#160;(371,684&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; color: black;"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; color: black;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left; color: black;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right; color: black;"&gt;(799,045&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; color: black;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; padding-left: 9pt;"&gt;Total stockholders&amp;#8217; equity&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;609,199&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;194,335&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; color: black;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left; color: black;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right; color: black;"&gt;(609,199&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; color: black;"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;194,335&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt; padding-left: 9pt;"&gt;Total liabilities, redeemable noncontrolling interests&amp;#160;and stockholders' equity&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;621,937&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;986,474&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; color: black;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left; color: black;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right; color: black;"&gt;(609,199&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt; color: black;"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;999,212&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="text-align: left; background-color: white; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;font style="background-color: white;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="text-align: center; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;b&gt;RADIO ONE, INC. AND SUBSIDIARIES&lt;/b&gt;&lt;/p&gt;
&lt;p style="text-align: center; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;b&gt;CONSOLIDATING STATEMENTS OF OPERATIONS&lt;/b&gt;&lt;/p&gt;
&lt;p style="text-align: center; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;b&gt;For the Year Ended December 31, 2011&lt;/b&gt;&lt;/p&gt;
&lt;p style="text-align: center; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;table style="width: 100%; font: 10pt times new roman, times, serif;" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;Combined&lt;/td&gt;
&lt;td style="font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center;" colspan="2" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center;" colspan="2" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center;" colspan="2" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;Guarantor&lt;/td&gt;
&lt;td style="font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;Radio&lt;/td&gt;
&lt;td style="font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center;" colspan="2" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center;" colspan="2" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;Subsidiaries&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;One,&amp;#160;Inc.&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;Eliminations&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;Consolidated&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; font-weight: bold;" colspan="14" nowrap="nowrap"&gt;(In thousands)&lt;/td&gt;
&lt;td style="font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; width: 56%;"&gt;NET REVENUE&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 8%;"&gt;130,236&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 8%;"&gt;234,373&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 8%;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 8%;"&gt;364,609&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;OPERATING EXPENSES:&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Programming and technical&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;32,577&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;82,612&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;115,189&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Selling, general and administrative, including stock-based compensation&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;55,781&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;70,903&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;126,684&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Corporate selling, general and administrative, including stock-based compensation&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;37,850&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;37,850&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Depreciation and amortization&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;7,995&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;29,074&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;37,069&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;Impairment of long-lived assets&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;14,509&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;7,822&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;22,331&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; padding-left: 9pt;"&gt;Total operating expenses&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;110,862&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;228,261&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;339,123&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-left: 9pt;"&gt;Operating income (loss)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;19,374&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;6,112&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;25,486&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;INTEREST INCOME&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;354&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;354&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;INTEREST EXPENSE&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;426&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;87,904&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;88,330&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;GAIN ON INVESTMENT IN AFFILIATED COMPANY&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;146,879&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;146,879&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;EQUITY IN INCOME&amp;#160;OF AFFILIATED COMPANY&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;3,287&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;3,287&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;LOSS ON RETIREMENT OF DEBT&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;7,743&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;7,743&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;OTHER EXPENSE&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;324&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;324&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Income (loss)&amp;#160;before provision for income taxes, noncontrolling interests in income of subsidiaries and discontinued operations&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;18,948&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;60,661&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;79,609&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;PROVISION FOR INCOME TAXES&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;66,686&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;66,686&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Net income (loss) before equity in income of subsidiaries and discontinued operations&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;18,948&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(6,025&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;12,923&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;EQUITY IN INCOME OF SUBSIDIARIES&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;18,928&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;(18,928&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Net income (loss) from continuing operations&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;18,948&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;12,903&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(18,928&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;12,923&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;LOSS FROM DISCONTINUED OPERATIONS, net of tax&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;(20&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;(20&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Consolidated net income (loss)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;18,928&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;12,903&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(18,928&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;12,903&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;NET INCOME ATTRIBUTABLE TO NONCONTROLLING&amp;#160;INTERESTS&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;10,014&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;10,014&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;Consolidated net income (loss) attributable to common stockholders&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;18,928&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;2,889&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;(18,928&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;2,889&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="text-align: left; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: center; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;b&gt;RADIO ONE, INC. AND SUBSIDIARIES&lt;/b&gt;&lt;/p&gt;
&lt;p style="text-align: center; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;b&gt;CONSOLIDATING STATEMENTS OF OPERATIONS&lt;/b&gt;&lt;/p&gt;
&lt;p style="text-align: center; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;b&gt;For the Year Ended December 31, 2010&lt;/b&gt;&lt;/p&gt;
&lt;p style="text-align: center; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;table style="width: 100%; font: 10pt times new roman, times, serif;" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;Combined&lt;/td&gt;
&lt;td style="font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center;" colspan="2" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center;" colspan="2" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center;" colspan="2" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;Guarantor&lt;/td&gt;
&lt;td style="font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;Radio&lt;/td&gt;
&lt;td style="font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center;" colspan="2" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center;" colspan="2" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;Subsidiaries&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;One,&amp;#160;Inc.&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;Eliminations&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;Consolidated&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; font-weight: bold;" colspan="14"&gt;(In thousands)&lt;/td&gt;
&lt;td style="font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; width: 56%;"&gt;NET REVENUE&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 8%;"&gt;134,872&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 8%;"&gt;144,848&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 8%;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 8%;"&gt;279,720&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;OPERATING EXPENSES:&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Programming and technical, including stock-based compensation&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;34,207&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;40,645&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;74,852&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Selling, general and administrative, including stock-based compensation&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;58,864&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;44,361&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;103,225&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Corporate selling, general and administrative, including stock-based compensation&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;32,922&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;32,922&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Depreciation and amortization&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;9,825&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;7,560&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;17,385&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;Impairment of long-lived assets&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;36,063&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;36,063&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; padding-left: 9pt;"&gt;Total operating expenses&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;102,896&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;161,551&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;264,447&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-left: 9pt;"&gt;Operating income (loss)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;31,976&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(16,703&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;15,273&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;INTEREST INCOME&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;127&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;127&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;INTEREST EXPENSE&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;46,834&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;46,834&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;EQUITY IN INCOME&amp;#160;OF AFFILIATED COMPANY&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;5,558&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;5,558&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;GAIN ON RETIREMENT OF DEBT&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;6,646&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;6,646&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;OTHER INCOME (EXPENSE)&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;142&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;(3,203&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;(3,061&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Income (Loss)&amp;#160;before provision for income taxes, noncontrolling interests in income of subsidiaries and discontinued operations&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;32,118&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(54,409&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(22,291&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;PROVISION FOR INCOME TAXES&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;3,971&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;3,971&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Net income (loss) before equity in income of subsidiaries and discontinued operations&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;32,118&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(58,380&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(26,262&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;EQUITY IN INCOME OF SUBSIDIARIES&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;31,957&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;(31,957&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Net income (loss) from continuing operations&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;32,118&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(26,423&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(31,957&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(26,262&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;LOSS FROM DISCONTINUED OPERATIONS, net of tax&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;(161&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;(202&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;(363&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Consolidated net income (loss)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;31,957&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(26,625&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(31,957&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(26,625&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;NET INCOME ATTRIBUTABLE TO NONCONTROLLING&amp;#160;INTERESTS&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;2,008&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;2,008&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;Consolidated net income (loss) attributable to common stockholders&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;31,957&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;(28,633&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;(31,957&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;(28,633&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="text-align: left; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: center; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;b&gt;RADIO ONE, INC. AND SUBSIDIARIES&lt;/b&gt;&lt;/p&gt;
&lt;p style="text-align: center; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;b&gt;CONSOLIDATING STATEMENTS OF OPERATIONS&lt;/b&gt;&lt;/p&gt;
&lt;p style="text-align: center; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;b&gt;For the Year Ended December 31, 2009&lt;/b&gt;&lt;/p&gt;
&lt;p style="text-align: left; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;table style="width: 100%; font: 10pt times new roman, times, serif;" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;Combined&lt;/td&gt;
&lt;td style="font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center;" colspan="2" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center;" colspan="2" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center;" colspan="2" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;Guarantor&lt;/td&gt;
&lt;td style="font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;Radio&lt;/td&gt;
&lt;td style="font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center;" colspan="2" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center;" colspan="2" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;Subsidiaries&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;One,&amp;#160;Inc.&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;Eliminations&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;Consolidated&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; font-weight: bold;" colspan="14"&gt;(In thousands)&lt;/td&gt;
&lt;td style="font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; width: 56%;"&gt;NET REVENUE&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 8%;"&gt;124,457&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 8%;"&gt;147,420&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 8%;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 8%;"&gt;271,877&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;OPERATING EXPENSES:&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Programming and technical, including stock-based compensation&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;34,455&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;40,981&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;75,436&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Selling, general and administrative, including stock-based compensation&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;53,692&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;37,186&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;90,878&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Corporate selling, general and administrative, including stock-based compensation&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;24,732&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;24,732&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Depreciation and amortization&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;11,913&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;9,051&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;20,964&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;Impairment of long-lived assets&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;50,933&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;15,004&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;65,937&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; padding-left: 9pt;"&gt;Total operating expenses&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;150,993&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;126,954&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;277,947&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-left: 9pt;"&gt;Operating (loss) income&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(26,536&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;20,466&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(6,070&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;INTEREST INCOME&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;144&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;144&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;INTEREST EXPENSE&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;3&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;38,401&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;38,404&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;EQUITY IN INCOME&amp;#160;OF AFFILIATED COMPANY&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;3,653&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;3,653&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;GAIN ON RETIREMENT OF DEBT&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;1,221&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;1,221&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;OTHER INCOME (EXPENSE)&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;36&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;(140&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;(104&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Loss&amp;#160;before provision for income taxes, noncontrolling interests in income of subsidiaries and discontinued operations&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(26,503&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(13,057&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(39,560&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;PROVISION FOR INCOME TAXES&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;7,014&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;7,014&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Net loss before equity in loss of subsidiaries and discontinued operations&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(26,503&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(20,071&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(46,574&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;EQUITY IN LOSS OF SUBSIDIARIES&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;(28,579&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;28,579&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Net loss from continuing operations&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(26,503&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(48,650&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;28,579&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(46,574&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;(LOSS) INCOME FROM DISCONTINUED OPERATIONS, net of tax&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;(2,076&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;92&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;(1,984&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Consolidated net loss&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(28,579&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(48,558&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;28,579&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(48,558&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;NET INCOME ATTRIBUTABLE TO NONCONTROLLING&amp;#160;INTERESTS&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;4,329&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;4,329&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;Consolidated net loss attributable to common stockholders&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;(28,579&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;(52,887&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;28,579&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;(52,887&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="text-align: left; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: left; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;/p&gt;
&lt;table style="width: 100%; border-collapse: collapse; font: 10pt times new roman, times, serif;" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: center; font-size: 10pt;" colspan="17"&gt;RADIO ONE, INC. AND SUBSIDIARIES&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: center; font-size: 10pt;" colspan="17"&gt;CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: center; font-size: 10pt;" colspan="17"&gt;For the Year Ended December 31, 2011&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; font-size: 10pt; font-weight: bold;" colspan="2"&gt;Combined&lt;/td&gt;
&lt;td style="font-size: 10pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; font-size: 10pt; font-weight: bold;" colspan="2"&gt;Guarantor&lt;/td&gt;
&lt;td style="font-size: 10pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; font-size: 10pt; font-weight: bold;" colspan="2"&gt;Radio&lt;/td&gt;
&lt;td style="font-size: 10pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-size: 10pt; font-weight: bold;" colspan="2"&gt;Subsidiaries&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-size: 10pt; font-weight: bold;" colspan="2"&gt;One, Inc.&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-size: 10pt; font-weight: bold;" colspan="2"&gt;Eliminations&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-size: 10pt; font-weight: bold;" colspan="2"&gt;Consolidated&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; font-size: 10pt;" colspan="14"&gt;(In thousands)&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; width: 48%; font-size: 10pt;"&gt;CONSOLIDATED NET INCOME (LOSS)&lt;/td&gt;
&lt;td style="width: 1%; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%; font-size: 10pt;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 10%; font-size: 10pt;"&gt;18,928&lt;/td&gt;
&lt;td style="text-align: left; width: 1%; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 1%; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%; font-size: 10pt;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 10%; font-size: 10pt;"&gt;12,903&lt;/td&gt;
&lt;td style="text-align: left; width: 1%; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 1%; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%; font-size: 10pt;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 10%; font-size: 10pt;"&gt;(18,928&lt;/td&gt;
&lt;td style="text-align: left; width: 1%; font-size: 10pt;"&gt;)&lt;/td&gt;
&lt;td style="width: 1%; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%; font-size: 10pt;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 10%; font-size: 10pt;"&gt;12,903&lt;/td&gt;
&lt;td style="text-align: left; width: 1%; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; font-size: 10pt;"&gt;NET CHANGE IN UNREALIZED GAIN ON DERIVATIVE AND HEDGING ACTIVITIES&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-size: 10pt;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-size: 10pt;"&gt;158&lt;/td&gt;
&lt;td style="text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-size: 10pt;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-size: 10pt;"&gt;158&lt;/td&gt;
&lt;td style="text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; font-size: 10pt;"&gt;NET CHANGE IN UNREALIZED LOSS ON INVESTMENT ACTIVITIES&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right; font-size: 10pt;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right; font-size: 10pt;"&gt;(199&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; font-size: 10pt;"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right; font-size: 10pt;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right; font-size: 10pt;"&gt;(199&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; font-size: 10pt;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; font-size: 10pt;"&gt;COMPREHENSIVE INCOME (LOSS)&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-size: 10pt;"&gt;18,928&lt;/td&gt;
&lt;td style="text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-size: 10pt;"&gt;12,862&lt;/td&gt;
&lt;td style="text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-size: 10pt;"&gt;(18,928&lt;/td&gt;
&lt;td style="text-align: left; font-size: 10pt;"&gt;)&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-size: 10pt;"&gt;12,862&lt;/td&gt;
&lt;td style="text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; font-size: 10pt;"&gt;LESS: COMPREHENSIVE INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right; font-size: 10pt;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right; font-size: 10pt;"&gt;10,014&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right; font-size: 10pt;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right; font-size: 10pt;"&gt;10,014&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt; font-size: 10pt;"&gt;COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCKHOLDERS&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left; font-size: 10pt;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right; font-size: 10pt;"&gt;18,928&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left; font-size: 10pt;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right; font-size: 10pt;"&gt;2,848&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left; font-size: 10pt;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right; font-size: 10pt;"&gt;(18,928&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt; font-size: 10pt;"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left; font-size: 10pt;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right; font-size: 10pt;"&gt;2,848&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="text-align: left; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&amp;#160;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: left; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;/p&gt;
&lt;table style="width: 100%; border-collapse: collapse; font: 10pt times new roman, times, serif;" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: center; font-size: 10pt;" colspan="17"&gt;RADIO ONE, INC. AND SUBSIDIARIES&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: center; font-size: 10pt;" colspan="17"&gt;CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: center; font-size: 10pt;" colspan="17"&gt;For the Year Ended December 31, 2010&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; font-size: 10pt; font-weight: bold;" colspan="2"&gt;Combined&lt;/td&gt;
&lt;td style="font-size: 10pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; font-size: 10pt; font-weight: bold;" colspan="2"&gt;Guarantor&lt;/td&gt;
&lt;td style="font-size: 10pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; font-size: 10pt; font-weight: bold;" colspan="2"&gt;Radio&lt;/td&gt;
&lt;td style="font-size: 10pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-size: 10pt; font-weight: bold;" colspan="2"&gt;Subsidiaries&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-size: 10pt; font-weight: bold;" colspan="2"&gt;One, Inc.&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-size: 10pt; font-weight: bold;" colspan="2"&gt;Eliminations&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-size: 10pt; font-weight: bold;" colspan="2"&gt;Consolidated&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; font-size: 10pt;" colspan="14"&gt;(In thousands)&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; width: 48%; font-size: 10pt;"&gt;CONSOLIDATED NET INCOME (LOSS)&lt;/td&gt;
&lt;td style="width: 1%; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%; font-size: 10pt;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 10%; font-size: 10pt;"&gt;31,957&lt;/td&gt;
&lt;td style="text-align: left; width: 1%; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 1%; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%; font-size: 10pt;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 10%; font-size: 10pt;"&gt;(26,625&lt;/td&gt;
&lt;td style="text-align: left; width: 1%; font-size: 10pt;"&gt;)&lt;/td&gt;
&lt;td style="width: 1%; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%; font-size: 10pt;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 10%; font-size: 10pt;"&gt;(31,957&lt;/td&gt;
&lt;td style="text-align: left; width: 1%; font-size: 10pt;"&gt;)&lt;/td&gt;
&lt;td style="width: 1%; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%; font-size: 10pt;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 10%; font-size: 10pt;"&gt;(26,625&lt;/td&gt;
&lt;td style="text-align: left; width: 1%; font-size: 10pt;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; font-size: 10pt;"&gt;NET CHANGE IN UNREALIZED GAIN ON DERIVATIVE AND HEDGING ACTIVITIES&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right; font-size: 10pt;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right; font-size: 10pt;"&gt;662&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right; font-size: 10pt;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right; font-size: 10pt;"&gt;662&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; font-size: 10pt;"&gt;COMPREHENSIVE INCOME (LOSS)&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-size: 10pt;"&gt;31,957&lt;/td&gt;
&lt;td style="text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-size: 10pt;"&gt;(25,963&lt;/td&gt;
&lt;td style="text-align: left; font-size: 10pt;"&gt;)&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-size: 10pt;"&gt;(31,957&lt;/td&gt;
&lt;td style="text-align: left; font-size: 10pt;"&gt;)&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-size: 10pt;"&gt;(25,963&lt;/td&gt;
&lt;td style="text-align: left; font-size: 10pt;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; font-size: 10pt;"&gt;LESS: COMPREHENSIVE INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right; font-size: 10pt;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right; font-size: 10pt;"&gt;2,008&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right; font-size: 10pt;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right; font-size: 10pt;"&gt;2,008&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt; font-size: 10pt;"&gt;COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCKHOLDERS&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left; font-size: 10pt;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right; font-size: 10pt;"&gt;31,957&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left; font-size: 10pt;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right; font-size: 10pt;"&gt;(27,971&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt; font-size: 10pt;"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left; font-size: 10pt;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right; font-size: 10pt;"&gt;(31,957&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt; font-size: 10pt;"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left; font-size: 10pt;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right; font-size: 10pt;"&gt;(27,971&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt; font-size: 10pt;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="text-align: left; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;/p&gt;
&lt;p style="text-align: left; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: left; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;/p&gt;
&lt;table style="width: 100%; border-collapse: collapse; font: 10pt times new roman, times, serif;" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: center; font-size: 10pt;" colspan="17"&gt;RADIO ONE, INC. AND SUBSIDIARIES&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: center; font-size: 10pt;" colspan="17"&gt;CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: center; font-size: 10pt;" colspan="17"&gt;For the Year Ended December 31, 2009&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; font-size: 10pt; font-weight: bold;" colspan="2"&gt;Combined&lt;/td&gt;
&lt;td style="font-size: 10pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; font-size: 10pt; font-weight: bold;" colspan="2"&gt;Guarantor&lt;/td&gt;
&lt;td style="font-size: 10pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; font-size: 10pt; font-weight: bold;" colspan="2"&gt;Radio&lt;/td&gt;
&lt;td style="font-size: 10pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-size: 10pt; font-weight: bold;" colspan="2"&gt;Subsidiaries&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-size: 10pt; font-weight: bold;" colspan="2"&gt;One, Inc.&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-size: 10pt; font-weight: bold;" colspan="2"&gt;Eliminations&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-size: 10pt; font-weight: bold;" colspan="2"&gt;Consolidated&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; font-size: 10pt;" colspan="14"&gt;(In thousands)&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; width: 48%; font-size: 10pt;"&gt;CONSOLIDATED NET (LOSS) INCOME&lt;/td&gt;
&lt;td style="width: 1%; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%; font-size: 10pt;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 10%; font-size: 10pt;"&gt;(28,579&lt;/td&gt;
&lt;td style="text-align: left; width: 1%; font-size: 10pt;"&gt;)&lt;/td&gt;
&lt;td style="width: 1%; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%; font-size: 10pt;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 10%; font-size: 10pt;"&gt;(48,558&lt;/td&gt;
&lt;td style="text-align: left; width: 1%; font-size: 10pt;"&gt;)&lt;/td&gt;
&lt;td style="width: 1%; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%; font-size: 10pt;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 10%; font-size: 10pt;"&gt;28,579&lt;/td&gt;
&lt;td style="text-align: left; width: 1%; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 1%; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%; font-size: 10pt;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 10%; font-size: 10pt;"&gt;(48,558&lt;/td&gt;
&lt;td style="text-align: left; width: 1%; font-size: 10pt;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; font-size: 10pt;"&gt;NET CHANGE IN UNREALIZED GAIN ON DERIVATIVE AND HEDGING ACTIVITIES&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right; font-size: 10pt;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right; font-size: 10pt;"&gt;895&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right; font-size: 10pt;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right; font-size: 10pt;"&gt;895&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; font-size: 10pt;"&gt;COMPREHENSIVE (LOSS) INCOME&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-size: 10pt;"&gt;(28,579&lt;/td&gt;
&lt;td style="text-align: left; font-size: 10pt;"&gt;)&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-size: 10pt;"&gt;(47,663&lt;/td&gt;
&lt;td style="text-align: left; font-size: 10pt;"&gt;)&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-size: 10pt;"&gt;28,579&lt;/td&gt;
&lt;td style="text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-size: 10pt;"&gt;(47,663&lt;/td&gt;
&lt;td style="text-align: left; font-size: 10pt;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; font-size: 10pt;"&gt;LESS: COMPREHENSIVE INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right; font-size: 10pt;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right; font-size: 10pt;"&gt;4,329&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right; font-size: 10pt;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right; font-size: 10pt;"&gt;4,329&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt; font-size: 10pt;"&gt;COMPREHENSIVE (LOSS) INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left; font-size: 10pt;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right; font-size: 10pt;"&gt;(28,579&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt; font-size: 10pt;"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left; font-size: 10pt;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right; font-size: 10pt;"&gt;(51,992&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt; font-size: 10pt;"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left; font-size: 10pt;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right; font-size: 10pt;"&gt;28,579&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left; font-size: 10pt;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right; font-size: 10pt;"&gt;(51,992&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt; font-size: 10pt;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="text-align: left; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;/p&gt;
&lt;p style="text-align: left; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: center; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;/p&gt;
&lt;p style="text-align: center; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;b&gt;RADIO&amp;#160;ONE,&amp;#160;INC.&amp;#160;AND&amp;#160;SUBSIDIARIES&lt;/b&gt;&lt;/p&gt;
&lt;p style="text-align: center; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;b&gt;CONSOLIDATING&amp;#160;STATEMENT&amp;#160;OF&amp;#160;CASH&amp;#160;FLOWS&lt;/b&gt;&lt;/p&gt;
&lt;p style="text-align: center; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;b&gt;For the Year Ended December 31, 2011&lt;/b&gt;&lt;/p&gt;
&lt;p style="text-align: center; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;table style="width: 100%; font: 10pt times new roman, times, serif;" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;Combined&lt;/td&gt;
&lt;td style="font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center;" colspan="2" nowrap="nowrap"&gt;&amp;#160;&lt;b&gt;Radio&lt;/b&gt;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;Guarantor&lt;/td&gt;
&lt;td style="font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;One,&lt;/td&gt;
&lt;td style="font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="padding-bottom: 1pt;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;Subsidiaries&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;Inc.&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;Eliminations&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;Consolidated&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center;" colspan="14" nowrap="nowrap"&gt;&lt;b&gt;As Restated - See Note 2&lt;/b&gt;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; font-weight: bold;" colspan="14"&gt;(In thousands)&lt;/td&gt;
&lt;td style="font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;CASH FLOWS FROM OPERATING ACTIVITIES:&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-left: 9pt; width: 48%;"&gt;Consolidated net income&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 10%;"&gt;18,928&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 10%;"&gt;(6,025&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;)&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 10%;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 10%;"&gt;12,903&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Adjustments to reconcile consolidated net loss to net cash from operating activities:&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-left: 0.25in;"&gt;Depreciation and amortization&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;7,995&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;29,074&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;37,069&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-left: 0.25in;"&gt;Amortization of debt financing costs&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;3,750&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;3,750&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-left: 0.25in;"&gt;Amortization of content assets&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;31,539&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;31,539&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-left: 0.25in;"&gt;Deferred income taxes&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;64,151&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;64,151&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-left: 0.25in;"&gt;Gain on investment in affiliated company&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(146,879&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(146,879&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="padding-left: 0.25in;"&gt;Impairment of long-lived assets&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;14,509&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;7,822&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;22,331&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-left: 0.25in;"&gt;Equity in net income of affiliated company&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(3,287&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(3,287&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="padding-left: 0.25in;"&gt;Stock-based compensation&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;5,146&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;5,146&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="padding-left: 0.25in;"&gt;Non-cash interest&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;26,023&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;26,023&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-left: 0.25in;"&gt;Loss on retirement of debt&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;7,743&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;7,743&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Effect of change in operating assets and liabilities, net of assets acquired:&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-left: 27pt;"&gt;Trade accounts receivable, net&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;531&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;2,454&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;2,985&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-left: 27pt;"&gt;Prepaid expenses and other current assets&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(368&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;3,596&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;3,228&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-left: 27pt;"&gt;Other assets&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;293&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;3,552&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;3,845&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-left: 27pt;"&gt;Accounts payable&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;1,157&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(3,980&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(2,823&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-left: 27pt;"&gt;Due to corporate/from subsidiaries&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(44,220&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;44,220&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-left: 27pt;"&gt;Accrued interest&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;2,145&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;2,145&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-left: 27pt;"&gt;Accrued compensation and related benefits&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(374&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(1,266&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(1,640&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-left: 27pt;"&gt;Income taxes payable&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;123&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;123&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-left: 27pt;"&gt;Other liabilities&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;693&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(14,474&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(13,781&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-left: 27pt;"&gt;Payments for content assets&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(23,412)&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(23,412)&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Net cash flows provided by operating activities from discontinued operations&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;447&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;447&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; padding-left: 0.48in;"&gt;Net cash flows (used in) provided by&amp;#160;operating activities&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;(856&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;32,462&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;31,606&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;CASH FLOWS FROM INVESTING ACTIVITIES:&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-left: 9pt;"&gt;Purchase of property and equipment&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(9,445&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(9,445&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; padding-left: 9pt;"&gt;Net cash and investments acquired in connection with TV One consolidation&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;65,245&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;65,245&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; padding-left: 0.25in;"&gt;Net cash flows used in investing activities&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;55,800&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;55,800&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;CASH FLOWS FROM FINANCING ACTIVITIES:&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-left: 9pt;"&gt;Proceeds from credit facility&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;378,280&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;378,280&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-left: 9pt;"&gt;Payment of credit facility&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(356,576&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(356,576&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-left: 9pt;"&gt;Debt refinancing and modification costs&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(6,253&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(6,253&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-left: 9pt;"&gt;Repurchase of noncontrolling interests&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(54,595&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(54,595&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-left: 9pt;"&gt;Proceeds from noncontrolling interest member&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;2,776&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;2,776&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-left: 9pt;"&gt;Payment of dividends to noncontrolling interest shareholders of Reach Media&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(1,511&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(1,511&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-left: 9pt;"&gt;Payment of dividends to noncontrolling interest shareholders of TV One&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(12,306&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(12,306&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-left: 9pt;"&gt;Repayment of other debt&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(1,000&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(1,000&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; padding-left: 9pt;"&gt;Repurchase of common stock&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;(9,474&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;(9,474&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; padding-left: 0.25in;"&gt;Net cash flows used in financing activities&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;(60,659&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;(60,659&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(856&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;27,603&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;26,747&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;CASH AND CASH EQUIVALENTS, beginning of period&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;1,043&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;8,149&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;9,192&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;CASH AND CASH EQUIVALENTS, end of period&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;187&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;35,752&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;35,939&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="text-align: center; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;/p&gt;
&lt;p style="text-align: center; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: center; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;b&gt;RADIO ONE, INC. AND SUBSIDIARIES&lt;/b&gt;&lt;/p&gt;
&lt;p style="text-align: center; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;b&gt;CONSOLIDATING STATEMENT OF CASH FLOWS&lt;/b&gt; &amp;#160;&lt;/p&gt;
&lt;p style="text-align: center; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;b&gt;For the Year Ended December 31, 2010&lt;/b&gt;&lt;/p&gt;
&lt;p style="text-align: center; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;table style="width: 100%; font: 10pt times new roman, times, serif;" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;Combined&lt;/td&gt;
&lt;td style="font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center;" colspan="2" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center;" colspan="2" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center;" colspan="2" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;Guarantor&lt;/td&gt;
&lt;td style="font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;Radio&lt;/td&gt;
&lt;td style="font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center;" colspan="2" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center;" colspan="2" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;Subsidiaries&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;One,&amp;#160;Inc.&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;Eliminations&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;Consolidated&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; font-weight: bold;" colspan="14"&gt;(In thousands)&lt;/td&gt;
&lt;td style="font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;CASH FLOWS FROM OPERATING ACTIVITIES:&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-left: 9pt; width: 56%;"&gt;Consolidated net loss&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 8%;"&gt;31,957&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 8%;"&gt;(58,582&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;)&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 8%;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 8%;"&gt;(26,625&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Adjustments to reconcile consolidated net loss to net cash from operating activities:&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-left: 0.25in;"&gt;Depreciation and amortization&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;9,825&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;7,560&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;17,385&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-left: 0.25in;"&gt;Amortization of debt financing costs&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;2,970&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;2,970&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-left: 0.25in;"&gt;Write off of debt financing costs&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;3,055&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;3,055&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-left: 0.25in;"&gt;Deferred income taxes&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;1,311&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;1,311&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-left: 0.25in;"&gt;Impairment of long-lived assets&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;36,063&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;36,063&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-left: 0.25in;"&gt;Equity in net income of affiliated company&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(5,558&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(5,558&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-left: 0.25in;"&gt;Stock-based compensation and other non-cash compensation&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;5,799&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;5,799&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-left: 0.25in;"&gt;Gain on retirement of debt&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(6,646&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(6,646&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Effect of change in operating assets and liabilities, net of assets acquired:&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-left: 27pt;"&gt;Trade accounts receivable, net&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(2,575&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(8,914&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(11,489&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-left: 27pt;"&gt;Prepaid expenses and other current assets&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;474&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(3,918&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(3,444&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-left: 27pt;"&gt;Other assets&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;984&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;6,138&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;7,122&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-left: 27pt;"&gt;Accounts payable&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(417&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(736&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(1,153&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-left: 27pt;"&gt;Due to corporate/from subsidiaries&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(35,711&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;35,711&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-left: 27pt;"&gt;Accrued interest&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(4,941&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(4,941&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-left: 27pt;"&gt;Accrued compensation and related benefits&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(327&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;801&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;474&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-left: 27pt;"&gt;Income taxes payable&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;138&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;138&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-left: 27pt;"&gt;Other liabilities&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(499&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;3,915&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;3,416&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;Net cash flows used in operating activities from discontinued operations&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;49&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;(90&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;(41&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; padding-left: 0.5in;"&gt;Net cash flows provided by&amp;#160;operating activities&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;3,760&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;14,076&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;17,836&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;CASH FLOWS FROM INVESTING ACTIVITIES:&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-left: 9pt;"&gt;Purchase of property and equipment&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(4,322&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(4,322&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; padding-left: 9pt;"&gt;Purchase of intangible assets&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;(342&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;(342&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; padding-left: 0.25in;"&gt;Net cash flows used in investing activities&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;(4,664&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;(4,664&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;CASH FLOWS FROM FINANCING ACTIVITIES:&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-left: 9pt;"&gt;Proceeds from credit facility&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;342,000&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;342,000&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-left: 9pt;"&gt;Payment of credit facility&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(339,343&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(339,343&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-left: 9pt;"&gt;Proceeds from issuance of Senior Subordinated Notes&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;286,794&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;286,794&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-left: 9pt;"&gt;Repayment of Senior Subordinated Notes&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(290,800&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(290,800&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-left: 9pt;"&gt;Payment of dividend to noncontrolling interest shareholders of Reach Media&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(2,844&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(2,844&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; padding-left: 9pt;"&gt;Payment&amp;#160;of bank financing costs&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;(19,750&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;(19,750&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; padding-left: 0.25in;"&gt;Net cash flows used in financing activities&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;(2,844&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;(21,099&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;(23,943&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;916&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(11,687&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(10,771&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;CASH AND CASH EQUIVALENTS, beginning of period&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;127&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;19,836&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;19,963&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;CASH AND CASH EQUIVALENTS, end of period&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;1,043&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;8,149&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;9,192&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="text-align: left; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: center; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;b&gt;RADIO ONE, INC. AND SUBSIDIARIES&lt;/b&gt;&lt;/p&gt;
&lt;p style="text-align: center; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;b&gt;CONSOLIDATING STATEMENT OF CASH FLOWS&lt;/b&gt; &amp;#160;&lt;/p&gt;
&lt;p style="text-align: center; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&lt;b&gt;For the Year Ended December 31, 2009&lt;/b&gt;&amp;#160;&lt;/p&gt;
&lt;p style="text-align: center; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
&lt;table style="width: 100%; font: 10pt times new roman, times, serif;" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;Combined&lt;/td&gt;
&lt;td style="font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center;" colspan="2" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center;" colspan="2" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center;" colspan="2" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;Guarantor&lt;/td&gt;
&lt;td style="font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;Radio&lt;/td&gt;
&lt;td style="font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center;" colspan="2" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center;" colspan="2" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;Subsidiaries&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;One,&amp;#160;Inc.&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;Eliminations&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold;" colspan="2" nowrap="nowrap"&gt;Consolidated&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; font-weight: bold;" colspan="14"&gt;(In thousands)&lt;/td&gt;
&lt;td style="font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;CASH FLOWS FROM OPERATING ACTIVITIES:&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-left: 9pt; width: 56%;"&gt;Consolidated net loss&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 8%;"&gt;(28,579&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;)&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 8%;"&gt;(19,979&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;)&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 8%;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 8%;"&gt;(48,558&lt;/td&gt;
&lt;td style="text-align: left; width: 1%;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Adjustments to reconcile consolidated net loss to net cash from operating activities:&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-left: 0.25in;"&gt;Depreciation and amortization&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;11,913&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;9,051&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;20,964&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-left: 0.25in;"&gt;Amortization of debt financing costs&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;2,419&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;2,419&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-left: 0.25in;"&gt;Deferred income taxes&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;1,996&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;1,996&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-left: 0.25in;"&gt;Impairment of long-lived assets&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;50,933&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;15,004&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;65,937&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-left: 0.25in;"&gt;Equity in net losses of affiliated company&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(3,653&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(3,653&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-left: 0.25in;"&gt;Stock-based compensation and other non-cash compensation&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;1,649&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;1,649&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-left: 0.25in;"&gt;Gain on retirement of debt&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(1,221&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(1,221&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-left: 0.25in;"&gt;Amortization of contract inducement and termination fee&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(598&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(665&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(1,263&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;Effect of change in operating assets and liabilities, net of assets acquired:&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-left: 27pt;"&gt;Trade accounts receivable, net&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(2,491&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;4,922&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;2,431&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-left: 27pt;"&gt;Prepaid expenses and other current assets&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;154&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;202&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;356&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-left: 27pt;"&gt;Other assets&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(277&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;5,101&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;4,824&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-left: 27pt;"&gt;Accounts payable&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(375&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;1,215&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;840&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-left: 27pt;"&gt;Due to corporate/from subsidiaries&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(30,646&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;30,646&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-left: 27pt;"&gt;Accrued interest&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(584&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(584&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-left: 27pt;"&gt;Accrued compensation and related benefits&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;437&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(583&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(146&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-left: 27pt;"&gt;Income taxes payable&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;1,502&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;1,502&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-left: 27pt;"&gt;Other liabilities&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(642&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(2,109&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(2,751&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;Net cash flows provided by (used in) operating activities from discontinued operations&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;755&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;(54&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;701&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; padding-left: 0.5in;"&gt;Net cash flows provided by&amp;#160;operating activities&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;584&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;44,859&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;45,443&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;CASH FLOWS FROM INVESTING ACTIVITIES:&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-left: 9pt;"&gt;Purchase of property and equipment&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(3,058&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(1,470&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(4,528&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; padding-left: 9pt;"&gt;Purchase of intangible assets&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;(343&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;(343&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; padding-left: 0.25in;"&gt;Net cash flows used in investing activities&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;(3,058&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;(1,813&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;(4,871&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;CASH FLOWS FROM FINANCING ACTIVITIES:&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-left: 9pt;"&gt;Repayment of senior subordinated notes&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(1,220&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(1,220&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-left: 9pt;"&gt;Repayment of other debt&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(153&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(153&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-left: 9pt;"&gt;Proceeds from credit facility&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;116,500&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;116,500&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-left: 9pt;"&gt;Repurchase of common stock&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(19,697&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(19,697&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-left: 9pt;"&gt;Payment of credit facility&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(136,670&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(136,670&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; padding-left: 9pt;"&gt;Payment&amp;#160;of bank financing costs&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;(1,658&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;(1,658&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; padding-left: 0.25in;"&gt;Net cash flows used in financing activities&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;(42,898&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;(42,898&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left;"&gt;(DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(2,474&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;148&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(2,326&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ccffcc; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;CASH AND CASH EQUIVALENTS, beginning of period&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;2,601&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;19,688&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;22,289&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: white; vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;CASH AND CASH EQUIVALENTS, end of period&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;127&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;19,836&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;19,963&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="text-align: left; margin: 0pt 0px; font: 10pt times new roman, times, serif;"&gt;&amp;#160;&lt;/p&gt;
</us-gaap:AdditionalFinancialInformationDisclosureTextBlock>
<dei:AmendmentDescription contextRef="Context_FYE_31-Dec-2011">This Amendment No. 1 to our Annual Report on Form 10-K for the year ended December 31, 2011 (the -Amended 10-K&#8221;), amends our Annual Report on Form 10-K for the year ended December 31, 2011, filed with the Securities and Exchange Commission on March 30, 2012 (the &#8220;Original 10-K&#8221;). This Amended 10-K amends the Original 10-K for the purpose of amending its previously filed consolidated statement of cash flows for the year ended December 31, 2011 for the three and six-month periods ended June 30, 2011 and for the three and nine-month periods ended September 30, 2011 to adjust certain items contained therein. As a result of these adjustments, net cash flows provided by operating activities for the year ended December 31, 2011 decreased by approximately $23.4 million, net cash flows provided by investing activities for the year ended December 31, 2011 increased by approximately $23.4 million, and net cash flows used in financing activities were unchanged. The adjustments have no impact on the net increase in cash and cash equivalents for the year ended December 31, 2011 or the cash and cash equivalents balance as of December 31, 2011. In addition, these adjustments have no impact to the consolidated balance sheet as of December 31, 2011, or the consolidated statement of operations and consolidated statement of changes in stockholders&#8217; equity for the year ended December 31, 2011. This Amended 10-K does not reflect events occurring after the filing of the Original 10-K and does not modify or update the disclosure in the Original 10-K, other than the amendments noted above, the evaluation and current developments of controls and procedures in Item 9A, the filing of consents of our independent registered public accounting firm, and the filing of certifications of our principal executive officer and principal financial officer pursuant to Rule 13a-14 of the Securities Exchange Act of 1934 and Section 906 of the Sarbanes-Oxley Act of 2002.</dei:AmendmentDescription>

	<xbrli:unit id="USD_per_Share"><xbrli:divide><xbrli:unitNumerator><xbrli:measure>iso4217:USD</xbrli:measure></xbrli:unitNumerator><xbrli:unitDenominator><xbrli:measure>xbrli:shares</xbrli:measure></xbrli:unitDenominator></xbrli:divide></xbrli:unit>
	<xbrli:unit id="shares"><xbrli:measure>xbrli:shares</xbrli:measure></xbrli:unit>
	<roia:OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTaxPortionAttributableToParent contextRef="Context_FYE_31-Dec-2011" unitRef="USD" decimals="-3">158000</roia:OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTaxPortionAttributableToParent>
</xbrli:xbrl>