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Guarantor Subsidiaries (Tables)
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3 Months Ended |
6 Months Ended |
12 Months Ended |
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Jun. 30, 2011
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Jun. 30, 2010
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Jun. 30, 2011
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Jun. 30, 2010
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Dec. 31, 2010
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| Guarantor Subsidiaries [Abstract] |
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| Schedule of Condensed Consolidated Statements of Financial Position |
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Condensed Consolidated Balance Sheet As of June 30, 2011 | | | | | | | | | | | | | | | | | | | | | | | | Parent | | Issuer | | Guarantor Subsidiaries | | Eliminations | | Consolidated | | | (in thousands) | CURRENT ASSETS: | | | | | | | | | | | Cash and cash equivalents | | $ | 1,603,172 |
| | $ | 252,200 |
| | $ | 622 |
| | $ | — |
| | $ | 1,855,994 |
| Short-term investments | | 299,954 |
| | — |
| | — |
| | — |
| | 299,954 |
| Inventories | | — |
| | 124,947 |
| | 15,101 |
| | — |
| | 140,048 |
| Prepaid expenses | | 171 |
| | 487 |
| | 64,324 |
| | — |
| | 64,982 |
| Deferred charges | | — |
| | 94,931 |
| | — |
| | — |
| | 94,931 |
| Advances to subsidiaries | | — |
| | 1,464,837 |
| | — |
| | (1,464,837 | ) | | — |
| Other current assets | | 94 |
| | 71,812 |
| | 40,487 |
| | — |
| | 112,393 |
| Total current assets | | 1,903,391 |
| | 2,009,214 |
| | 120,534 |
| | (1,464,837 | ) | | 2,568,302 |
| Property and equipment, net | | — |
| | 31,234 |
| | 3,825,635 |
| | — |
| | 3,856,869 |
| Long-term investments | | 6,319 |
| | 1,716 |
| | — |
| | — |
| | 8,035 |
| Investment in subsidiaries | | 1,139,888 |
| | 4,344,422 |
| | — |
| | (5,484,310 | ) | | — |
| FCC licenses | | — |
| | 3,800 |
| | 2,534,560 |
| | — |
| | 2,538,360 |
| Other assets | | — |
| | 96,151 |
| | 33,310 |
| | — |
| | 129,461 |
| Total assets | | $ | 3,049,598 |
| | $ | 6,486,537 |
| | $ | 6,514,039 |
| | $ | (6,949,147 | ) | | $ | 9,101,027 |
| CURRENT LIABILITIES: | | | | | | | | | | | Accounts payable and accrued expenses | | $ | — |
| | $ | 78,511 |
| | $ | 349,411 |
| | $ | — |
| | $ | 427,922 |
| Advances from subsidiaries | | 297,941 |
| | — |
| | 1,166,896 |
| | (1,464,837 | ) | | — |
| Other current liabilities | | — |
| | 90,123 |
| | 207,628 |
| | — |
| | 297,751 |
| Total current liabilities | | 297,941 |
| | 168,634 |
| | 1,723,935 |
| | (1,464,837 | ) | | 725,673 |
| Long-term debt | | — |
| | 4,450,097 |
| | 264,415 |
| | — |
| | 4,714,512 |
| Deferred credits | | 1,939 |
| | 719,011 |
| | 109,430 |
| | — |
| | 830,380 |
| Other long-term liabilities | | — |
| | 8,907 |
| | 71,837 |
| | — |
| | 80,744 |
| Total liabilities | | 299,880 |
| | 5,346,649 |
| | 2,169,617 |
| | (1,464,837 | ) | | 6,351,309 |
| STOCKHOLDERS’ EQUITY: | | | | | | | | | | | Common stock | | 36 |
| | — |
| | — |
| | — |
| | 36 |
| Other stockholders’ equity | | 2,749,682 |
| | 1,139,888 |
| | 4,344,422 |
| | (5,484,310 | ) | | 2,749,682 |
| Total stockholders’ equity | | 2,749,718 |
| | 1,139,888 |
| | 4,344,422 |
| | (5,484,310 | ) | | 2,749,718 |
| Total liabilities and stockholders’ equity | | $ | 3,049,598 |
| | $ | 6,486,537 |
| | $ | 6,514,039 |
| | $ | (6,949,147 | ) | | $ | 9,101,027 |
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Condensed Consolidated Balance Sheet As of December 31, 2010 | | | | | | | | | | | | | | | | | | | | | | | | Parent | | Issuer | | Guarantor Subsidiaries | | Eliminations | | Consolidated | | | (in thousands) | CURRENT ASSETS: | | | | | | | | | | | Cash and cash equivalents | | $ | 507,849 |
| | $ | 287,942 |
| | $ | 740 |
| | $ | — |
| | $ | 796,531 |
| Short-term investments | | 374,862 |
| | — |
| | — |
| | — |
| | 374,862 |
| Inventories | | — |
| | 145,260 |
| | 15,789 |
| | — |
| | 161,049 |
| Prepaid Expenses | | — |
| | 249 |
| | 50,228 |
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| | 50,477 |
| Deferred charges | | — |
| | 89,775 |
| | — |
| | — |
| | 89,775 |
| Advances to subsidiaries | | 647,701 |
| | 462,518 |
| | — |
| | (1,110,219 | ) | | — |
| Other current assets | | 94 |
| | 81,308 |
| | 39,789 |
| | — |
| | 121,191 |
| Total current assets | | 1,530,506 |
| | 1,067,052 |
| | 106,546 |
| | (1,110,219 | ) | | 1,593,885 |
| Property and equipment, net | | — |
| | 246,249 |
| | 3,413,196 |
| | — |
| | 3,659,445 |
| Long-term investments | | 6,319 |
| | 10,381 |
| | — |
| | — |
| | 16,700 |
| Investment in subsidiaries | | 1,006,295 |
| | 3,994,553 |
| | — |
| | (5,000,848 | ) | | — |
| FCC licenses | | — |
| | 3,800 |
| | 2,518,441 |
| | — |
| | 2,522,241 |
| Other assets | | — |
| | 75,085 |
| | 51,224 |
| | — |
| | 126,309 |
| Total assets | | $ | 2,543,120 |
| | $ | 5,397,120 |
| | $ | 6,089,407 |
| | $ | (6,111,067 | ) | | $ | 7,918,580 |
| CURRENT LIABILITIES: | | | | | | | | | | | Accounts payable and accrued expenses | | $ | — |
| | $ | 150,994 |
| | $ | 370,794 |
| | $ | — |
| | $ | 521,788 |
| Advances from subsidiaries | | — |
| | — |
| | 1,110,219 |
| | (1,110,219 | ) | | — |
| Other current liabilities | | — |
| | 82,684 |
| | 197,948 |
| | — |
| | 280,632 |
| Total current liabilities | | — |
| | 233,678 |
| | 1,678,961 |
| | (1,110,219 | ) | | 802,420 |
| Long-term debt | | — |
| | 3,508,948 |
| | 248,339 |
| | — |
| | 3,757,287 |
| Deferred credits | | 1,544 |
| | 639,766 |
| | 103,159 |
| | — |
| | 744,469 |
| Other long-term liabilities | | — |
| | 8,433 |
| | 64,395 |
| | — |
| | 72,828 |
| Total liabilities | | 1,544 |
| | 4,390,825 |
| | 2,094,854 |
| | (1,110,219 | ) | | 5,377,004 |
| STOCKHOLDERS’ EQUITY: | | | | | | | | | | | Common stock | | 36 |
| | — |
| | — |
| | — |
| | 36 |
| Other stockholders’ equity | | 2,541,540 |
| | 1,006,295 |
| | 3,994,553 |
| | (5,000,848 | ) | | 2,541,540 |
| Total stockholders’ equity | | 2,541,576 |
| | 1,006,295 |
| | 3,994,553 |
| | (5,000,848 | ) | | 2,541,576 |
| Total liabilities and stockholders’ equity | | $ | 2,543,120 |
| | $ | 5,397,120 |
| | $ | 6,089,407 |
| | $ | (6,111,067 | ) | | $ | 7,918,580 |
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| Schedule of Condensed Consolidated Statements of Income |
Condensed Consolidated Statement of Income Three Months Ended June 30, 2011 | | | | | | | | | | | | | | | | | | | | | | | | Parent | | Issuer | | Guarantor Subsidiaries | | Eliminations | | Consolidated | | | (in thousands) | REVENUES: | | | | | | | | | | | Total Revenues | | $ | — |
| | $ | 6,441 |
| | $ | 1,210,352 |
| | $ | (7,340 | ) | | $ | 1,209,453 |
| OPERATING EXPENSES: | | | | | | | | | | | Cost of revenues | | — |
| | 5,907 |
| | 709,997 |
| | (7,340 | ) | | 708,564 |
| Selling, general and administrative expenses | | — |
| | 528 |
| | 154,028 |
| | — |
| | 154,556 |
| Other operating expenses | | — |
| | 60 |
| | 136,018 |
| | — |
| | 136,078 |
| Total operating expenses | | — |
| | 6,495 |
| | 1,000,043 |
| | (7,340 | ) | | 999,198 |
| (Loss) income from operations | | — |
| | (54 | ) | | 210,309 |
| | — |
| | 210,255 |
| OTHER EXPENSE (INCOME): | | | | | | | | | | | Interest expense | | — |
| | 62,918 |
| | 4,062 |
| | — |
| | 66,980 |
| Non-operating expenses | | (480 | ) | | 9,516 |
| | (197 | ) | | — |
| | 8,839 |
| Earnings from consolidated subsidiaries | | (83,855 | ) | | (207,631 | ) | | — |
| | 291,486 |
| | — |
| Total other (income) expense | | (84,335 | ) | | (135,197 | ) | | 3,865 |
| | 291,486 |
| | 75,819 |
| Income (loss) before provision for income taxes | | 84,335 |
| | 135,143 |
| | 206,444 |
| | (291,486 | ) | | 134,436 |
| Provision for income taxes | | — |
| | (51,288 | ) | | 1,187 |
| | — |
| | (50,101 | ) | Net income (loss) | | $ | 84,335 |
| | $ | 83,855 |
| | $ | 207,631 |
| | $ | (291,486 | ) | | $ | 84,335 |
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Condensed Consolidated Statement of Income Three Months Ended June 30, 2010 | | | | | | | | | | | | | | | | | | | | | | | | Parent | | Issuer | | Guarantor Subsidiaries | | Eliminations | | Consolidated | | | (in thousands) | REVENUES: | | | | | | | | | | | Total Revenues | | $ | — |
| | $ | 6,336 |
| | $ | 1,060,203 |
| | $ | (54,003 | ) | | $ | 1,012,536 |
| OPERATING EXPENSES: | | | | | | | | | | | Cost of revenues | | — |
| | 6,004 |
| | 591,521 |
| | (54,003 | ) | | 543,522 |
| Selling, general and administrative expenses | | — |
| | 331 |
| | 158,269 |
| | — |
| | 158,600 |
| Other operating expenses | | — |
| | 35 |
| | 111,967 |
| | — |
| | 112,002 |
| Total operating expenses | | — |
| | 6,370 |
| | 861,757 |
| | (54,003 | ) | | 814,124 |
| (Loss) income from operations | | — |
| | (34 | ) | | 198,446 |
| | — |
| | 198,412 |
| OTHER EXPENSE (INCOME): | | | | | | | | | | | Interest expense | | — |
| | 63,023 |
| | 40,559 |
| | (38,079 | ) | | 65,503 |
| Non-operating expenses | | (367 | ) | | (37,591 | ) | | (34 | ) | | 38,079 |
| | 87 |
| Earnings from consolidated subsidiaries | | (79,548 | ) | | (157,921 | ) | | — |
| | 237,469 |
| | — |
| Total other (income) expense | | (79,915 | ) | | (132,489 | ) | | 40,525 |
| | 237,469 |
| | 65,590 |
| Income (loss) before provision for income taxes | | 79,915 |
| | 132,455 |
| | 157,921 |
| | (237,469 | ) | | 132,822 |
| Provision for income taxes | | — |
| | (52,907 | ) | | — |
| | — |
| | (52,907 | ) | Net income (loss) | | $ | 79,915 |
| | $ | 79,548 |
| | $ | 157,921 |
| | $ | (237,469 | ) | | $ | 79,915 |
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Condensed Consolidated Statement of Income Six Months Ended June 30, 2011 | | | | | | | | | | | | | | | | | | | | | | | | Parent | | Issuer | | Guarantor Subsidiaries | | Eliminations | | Consolidated | | | (in thousands) | REVENUES: | | | | | | | | | | | Total Revenues | | $ | — |
| | $ | 10,924 |
| | $ | 2,408,295 |
| | $ | (15,390 | ) | | $ | 2,403,829 |
| OPERATING EXPENSES: | | | | | | | | | | | Cost of revenues | | — |
| | 10,209 |
| | 1,464,424 |
| | (15,390 | ) | | 1,459,243 |
| Selling, general and administrative expenses | | — |
| | 715 |
| | 323,612 |
| | — |
| | 324,327 |
| Other operating expenses | | — |
| | 154 |
| | 264,513 |
| | — |
| | 264,667 |
| Total operating expenses | | — |
| | 11,078 |
| | 2,052,549 |
| | (15,390 | ) | | 2,048,237 |
| (Loss) income from operations | | — |
| | (154 | ) | | 355,746 |
| | — |
| | 355,592 |
| OTHER EXPENSE (INCOME): | | | | | | | | | | | Interest expense | | — |
| | 115,294 |
| | 8,247 |
| | — |
| | 123,541 |
| Non-operating expenses | | (986 | ) | | 9,509 |
| | (455 | ) | | — |
| | 8,068 |
| Earnings from consolidated subsidiaries | | (139,728 | ) | | (349,870 | ) | | — |
| | 489,598 |
| | — |
| Total other (income) expense | | (140,714 | ) | | (225,067 | ) | | 7,792 |
| | 489,598 |
| | 131,609 |
| Income (loss) before provision for income taxes | | 140,714 |
| | 224,913 |
| | 347,954 |
| | (489,598 | ) | | 223,983 |
| Provision for income taxes | | — |
| | (85,185 | ) | | 1,916 |
| | — |
| | (83,269 | ) | Net income (loss) | | $ | 140,714 |
| | $ | 139,728 |
| | $ | 349,870 |
| | $ | (489,598 | ) | | $ | 140,714 |
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Condensed Consolidated Statement of Income Six Months Ended June 30, 2010 | | | | | | | | | | | | | | | | | | | | | | | | Parent | | Issuer | | Guarantor Subsidiaries | | Eliminations | | Consolidated | | | (in thousands) | REVENUES: | | | | | | | | | | | Total Revenues | | $ | — |
| | $ | 9,471 |
| | $ | 2,076,237 |
| | $ | (102,669 | ) | | $ | 1,983,039 |
| OPERATING EXPENSES: | | | | | | | | | | | Cost of revenues | | — |
| | 9,035 |
| | 1,235,546 |
| | (102,669 | ) | | 1,141,912 |
| Selling, general and administrative expenses | | — |
| | 436 |
| | 318,074 |
| | — |
| | 318,510 |
| Other operating expenses | | — |
| | 66 |
| | 218,908 |
| | — |
| | 218,974 |
| Total operating expenses | | — |
| | 9,537 |
| | 1,772,528 |
| | (102,669 | ) | | 1,679,396 |
| (Loss) income from operations | | — |
| | (66 | ) | | 303,709 |
| | — |
| | 303,643 |
| OTHER EXPENSE (INCOME): | | | | | | | | | | | Interest expense | | — |
| | 128,202 |
| | 80,902 |
| | (76,119 | ) | | 132,985 |
| Non-operating expenses | | (823 | ) | | (75,180 | ) | | (38 | ) | | 76,119 |
| | 78 |
| Earnings from consolidated subsidiaries | | (101,753 | ) | | (222,845 | ) | | — |
| | 324,598 |
| | — |
| Total other (income) expense | | (102,576 | ) | | (169,823 | ) | | 80,864 |
| | 324,598 |
| | 133,063 |
| Income (loss) before provision for income taxes | | 102,576 |
| | 169,757 |
| | 222,845 |
| | (324,598 | ) | | 170,580 |
| Provision for income taxes | | — |
| | (68,004 | ) | | — |
| | — |
| | (68,004 | ) | Net income (loss) | | $ | 102,576 |
| | $ | 101,753 |
| | $ | 222,845 |
| | $ | (324,598 | ) | | $ | 102,576 |
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| Schedule of Condensed Consolidated Statements of Cash Flows |
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Condensed Consolidated Statement of Cash Flows Six Months Ended June 30, 2011 | | | | | | | | | | | | | | | | | | | | | | | | Parent | | Issuer | | Guarantor Subsidiaries | | Eliminations | | Consolidated | | | (in thousands) | CASH FLOWS FROM OPERATING ACTIVITIES: | | | | | | | | | | | Net cash provided by (used in) operating activities | | $ | 497 |
| | $ | (126,873 | ) | | $ | 608,476 |
| | $ | — |
| | $ | 482,100 |
| CASH FLOWS FROM INVESTING ACTIVITIES: | | | | | | | | | | | Purchases of property and equipment | | — |
| | (6,950 | ) | | (444,623 | ) | | — |
| | (451,573 | ) | Purchase of investments | | (299,826 | ) | | — |
| | — |
| | — |
| | (299,826 | ) | Proceeds from maturity of investments | | 375,000 |
| | — |
| | — |
| | — |
| | 375,000 |
| Change in advances – affiliates | | 671,631 |
| | (820,250 | ) | | — |
| | 148,619 |
| | — |
| Other investing activities, net | | — |
| | (17,691 | ) | | (10,175 | ) | | — |
| | (27,866 | ) | Net cash provided by (used in) investing activities | | 746,805 |
| | (844,891 | ) | | (454,798 | ) | | 148,619 |
| | (404,265 | ) | CASH FLOWS FROM FINANCING ACTIVITIES: | | | | | | | | | | | Change in advances – affiliates | | 297,941 |
| | — |
| | (149,322 | ) | | (148,619 | ) | | — |
| Change in book overfraft | | — |
| | 1,263 |
| | — |
| | — |
| | 1,263 |
| Proceeds from debt issuance, net of discount | | — |
| | 1,497,500 |
| | — |
| | — |
| | 1,497,500 |
| Retirement of senior secured credit facility debt | | — |
| | (535,792 | ) | | — |
| | — |
| | (535,792 | ) | Proceeds from exercise of stock options | | 53,671 |
| | — |
| | — |
| | — |
| | 53,671 |
| Other financing activities, net | | (3,591 | ) | | (26,949 | ) | | (4,474 | ) | | — |
| | (35,014 | ) | Net cash provided by (used in) financing activities | | 348,021 |
| | 936,022 |
| | (153,796 | ) | | (148,619 | ) | | 981,628 |
| INCREASE(DECREASE)IN CASH AND CASH EQUIVALENTS | | 1,095,323 |
| | (35,742 | ) | | (118 | ) | | — |
| | 1,059,463 |
| CASH AND CASH EQUIVALENTS, beginning of period | | 507,849 |
| | 287,942 |
| | 740 |
| | — |
| | 796,531 |
| CASH AND CASH EQUIVALENTS, end of period | | $ | 1,603,172 |
| | $ | 252,200 |
| | $ | 622 |
| | $ | — |
| | $ | 1,855,994 |
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Condensed Consolidated Statement of Cash Flows Six Months Ended June 30, 2010 | | | | | | | | | | | | | | | | | | | | | | | | Parent | | Issuer | | Guarantor Subsidiaries | | Eliminations | | Consolidated | | | (in thousands) | CASH FLOWS FROM OPERATING ACTIVITIES: | | | | | | | | | | | Net cash provided by (used in) operating activities | | $ | 677 |
| | $ | (110,982 | ) | | $ | 447,756 |
| | $ | — |
| | $ | 337,451 |
| CASH FLOWS FROM INVESTING ACTIVITIES: | | | | | | | | | | | Purchases of property and equipment | | — |
| | (49,899 | ) | | (265,438 | ) | | — |
| | (315,337 | ) | Purchase of investments | | (312,225 | ) | | — |
| | — |
| | — |
| | (312,225 | ) | Proceeds from maturity of investments | | 237,500 |
| | — |
| | — |
| | — |
| | 237,500 |
| Change in advances - affiliates | | 1,638 |
| | 285,848 |
| | — |
| | (287,486 | ) | | — |
| Proceeds from affiliate debt | | — |
| | 233,152 |
| | — |
| | (233,152 | ) | | — |
| Issuance of affiliate debt | | — |
| | (333,000 | ) | | — |
| | 333,000 |
| | — |
| Other investing activities, net | | — |
| | (16,789 | ) | | 4,380 |
| | — |
| | (12,409 | ) | Net cash (used in) provided by investing activities | | (73,087 | ) | | 119,312 |
| | (261,058 | ) | | (187,638 | ) | | (402,471 | ) | CASH FLOWS FROM FINANCING ACTIVITIES: | | | | | | | | | | | Change in book overdraft | | — |
| | (80,394 | ) | | 57 |
| | — |
| | (80,337 | ) | Proceeds from long-term loan | | — |
| | — |
| | 333,000 |
| | (333,000 | ) | | — |
| Change in advances - affiliates | | — |
| | — |
| | (287,486 | ) | | 287,486 |
| | — |
| Repayment of debt | | — |
| | (8,000 | ) | | (233,152 | ) | | 233,152 |
| | (8,000 | ) | Proceeds from exercise of stock options | | 2,592 |
| | — |
| | — |
| | — |
| | 2,592 |
| Other financing activities, net | | (852 | ) | | — |
| | (1,224 | ) | | — |
| | (2,076 | ) | Net cash provided by (used in) financing activities | | 1,740 |
| | (88,394 | ) | | (188,805 | ) | | 187,638 |
| | (87,821 | ) | DECREASE IN CASH AND CASH EQUIVALENTS | | (70,670 | ) | | (80,064 | ) | | (2,107 | ) | | — |
| | (152,841 | ) | CASH AND CASH EQUIVALENTS, beginning of period | | 642,089 |
| | 269,836 |
| | 17,456 |
| | — |
| | 929,381 |
| CASH AND CASH EQUIVALENTS, end of period | | $ | 571,419 |
| | $ | 189,772 |
| | $ | 15,349 |
| | $ | — |
| | $ | 776,540 |
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