Quarterly report pursuant to Section 13 or 15(d)

DISCONTINUED OPERATIONS (Tables)

v2.4.0.8
DISCONTINUED OPERATIONS (Tables)
9 Months Ended
Sep. 30, 2014
Discontinued Operations and Disposal Groups [Abstract]  
Schedule of carrying value of assets and liabilities immediately preceding the spin-off and at December 31, 2013
The following table presents the carrying value of the assets and liabilities of New Media, immediately preceding the February 13, 2014 spin-off and at December 31, 2013.
 
February 13, 2014
 
December 31, 2013
Assets
 
 
 
Property, plant and equipment, net
$
266,385

 
$
270,188

Intangibles, net
144,664

 
145,400

Goodwill
126,686

 
126,686

Cash and cash equivalents
23,845

 
31,811

Restricted cash
6,477

 
6,477

Receivables and other assets
101,940

 
110,184

Total Assets
$
669,997

 
$
690,746

 
 
 
 
Liabilities
 
 
 
Credit facilities - media
$
177,955

 
$
182,016

Accounts payable, accrued expenses and other liabilities
100,695

 
113,251

Total Liabilities
$
278,650

 
$
295,267

 
 
 
 
Net Assets
$
391,347

 
$
395,479

 
Schedule of results of operations from discontinued operations
Results from discontinued operations were as follows:
 
Three Months Ended 
 September 30,
 
Nine Months Ended 
 September 30,
 
2014
 
2013
 
2014
 
2013
Interest Income
$

 
$

 
$

 
$
15,095

Interest Expense

 

 
2,096

 

Net interest income (loss)

 

 
(2,096
)
 
15,095

 
 
 
 
 
 
 
 
Media income

 

 
68,213

 

Rental income
527

 
542

 
1,630

 
1,545

Other income (loss)

 
(2,386
)
 

 
(2,388
)
Change in fair value of investments in excess mortgage servicing rights

 

 

 
3,894

Change in fair value of investments in equity method investees

 

 

 
885

Earnings from investments in equity method investees

 
1,045

 

 
19,331

Total media, rental and other income (loss)
527

 
(799
)
 
69,843

 
23,267

 
 
 
 
 
 
 
 
Media operating expenses

 

 
65,826

 

Property operating costs
327

 
262

 
838

 
761

General and administrative expenses
9

 
6

 
1,973

 
2,429

Depreciation and amortization
64

 
54

 
4,773

 
164

Income tax (benefit) expense

 

 
(915
)
 

Total expenses
400

 
322

 
72,495

 
3,354

 
 
 
 
 
 
 
 
Income (loss) from discontinued operations
$
127

 
$
(1,121
)
 
$
(4,748
)
 
$
35,008

 
 
 
 
 
 
 
 
Net income attributable to noncontrolling interest
$

 
$

 
$
522

 
$