Martha Stewart Living Omnimedia 10-Q 6 May 14 2014 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
	Mar. 31, 2014	2-May-14	2-May-14	2-May-14
		Common Stock [Member]	Class A Common Stock [Member]	Class B Common Stock [Member]
Entity Information [Line Items]	'	'	'	'
Document Type	'10-Q	'	'	'
Amendment Flag	'false	'	'	'
Document Period End Date	31-Mar-14	'	'	'
Document Fiscal Year Focus	'2014	'	'	'
Document Fiscal Period Focus	'Q1	'	'	'
Trading Symbol	'MSO	'	'	'
Entity Registrant Name	'MARTHA STEWART LIVING OMNIMEDIA INC	'	'	'
Entity Central Index Key	'0001091801	'	'	'
Current Fiscal Year End Date	'--12-31	'	'	'
Entity Filer Category	'Accelerated Filer	'	'	'
Entity Common Stock, Shares Outstanding	'	56,939,138	31,204,513	25,734,625

Consolidated_Balance_Sheets

Consolidated Balance Sheets (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
CURRENT ASSETS	'	'
Cash and cash equivalents	$18,014	$21,884
Short-term investments	42,107	19,268
Restricted cash and investments	5,015	5,072
Accounts receivable, net	19,795	39,694
Paper inventory	2,034	2,901
Other current assets	3,076	3,876
Total current assets	90,041	92,695
PROPERTY AND EQUIPMENT, net	5,209	7,961
GOODWILL	850	850
OTHER INTANGIBLE ASSETS, net	45,200	45,200
OTHER NONCURRENT ASSETS	1,548	1,661
Total assets	142,848	148,367
CURRENT LIABILITIES	'	'
Accounts payable and accrued liabilities	11,828	12,464
Accrued payroll and related costs	5,174	8,665
Current portion of deferred subscription revenue	7,020	7,632
Current portion of other deferred revenue	20,052	17,227
Total current liabilities	44,074	45,988
DEFERRED SUBSCRIPTION REVENUE	2,817	3,587
OTHER DEFERRED REVENUE	15,212	17,307
DEFERRED INCOME TAX LIABILITY	7,040	7,094
OTHER NONCURRENT LIABILITIES	3,889	3,916
Total liabilities	73,032	77,892
COMMITMENTS AND CONTINGENCIES	'	'
SHAREHOLDERSb EQUITY	'	'
Capital in excess of par value	343,702	342,213
Accumulated deficit	-273,654	-271,051
Accumulated other comprehensive loss	-26	-479
Shareholders' equity before treasury stock	70,591	71,250
Less: Class A treasury stock b 59,400 shares at cost	-775	-775
Total shareholdersb equity	69,816	70,475
Total liabilities and shareholdersb equity	142,848	148,367
Class A Common Stock [Member]	'	'
SHAREHOLDERSb EQUITY	'	'
Common Stock	312	307
Class B Common Stock [Member]	'	'
SHAREHOLDERSb EQUITY	'	'
Common Stock	$257	$260

Consolidated_Balance_Sheets_Pa

Consolidated Balance Sheets (Parenthetical) (USD $)	Mar. 31, 2014	Dec. 31, 2013
Class A Common Stock [Member]	'	'
Common Stock, par value (in dollars per share)	$0.01	$0.01
Common Stock, shares authorized	350,000,000	350,000,000
Common Stock, shares issued	31,218,064	30,704,491
Common Stock, shares outstanding	31,158,664	30,645,091
Treasury stock, shares	59,400	59,400
Class B Common Stock [Member]	'	'
Common Stock, par value (in dollars per share)	$0.01	$0.01
Common Stock, shares authorized	150,000,000	150,000,000
Common Stock, shares issued	25,734,625	25,984,625
Common Stock, shares outstanding	25,734,625	25,984,625

Consolidated_Statements_of_Ope

Consolidated Statements of Operations (USD $)	3 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
REVENUES	'	'
Publishing	$19,506	$24,482
Merchandising	13,084	11,507
Broadcasting	678	1,235
Total revenues	33,268	37,224
Production, distribution and editorial	-15,413	-20,614
Selling and promotion	-8,097	-9,651
General and administrative	-8,909	-11,203
Depreciation and amortization	-3,039	-967
Restructuring charges	0	-523	[1]
Gain on sale of subscriber list, net	0	2,689
OPERATING LOSS	-2,190	-3,045
Interest income, net	62	204
Other expense, net	-494	-70
LOSS BEFORE INCOME TAXES	-2,622	-2,911
Income tax benefit / (provision)	19	-362
NET LOSS	($2,603)	($3,273)
LOSS PER SHARE b BASIC AND DILUTED	'	'
Net loss (in dollars per share)	($0.05)	($0.05)
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING	'	'
Basic and diluted (in shares)	56,680,826	67,241,626
[1]	As disclosed on the Company's consolidated statements of cash flows, total non-cash equity compensation expense was $0.6 million for the three months ended March 31, 2013. Included in non-cash equity compensation expense were net reversals of expense of approximately $0.02 million, which was generated in connection with restructuring activities. Accordingly, these amounts are reflected as restructuring charges in the Company's consolidated statements of operations for three months ended March 31, 2013.

Consolidated_Statements_of_Com

Consolidated Statements of Comprehensive Loss (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Net loss	($2,603)	($3,273)
Other comprehensive income / (loss):	'	'
Amounts reclassified for net realized losses on available-for-sale securities included in net loss	491	66
Unrealized losses on available-for-sale securities occurring during the period	-38	-143
Other comprehensive income / (loss)	453	-77
Total comprehensive loss	($2,150)	($3,350)

Consolidated_Statement_of_Shar

Consolidated Statement of Shareholders' Equity (USD $)		Total	Capital in Excess of Par Value [Member]	Accumulated deficit [Member]	Accumulated other comprehensive loss [Member]	Class A Treasury Stock [Member]	Class A Common Stock [Member]	Class B Common Stock [Member]
In Thousands							Common Stock [Member]	Common Stock [Member]
Balance at Dec. 31, 2013		$70,475	$342,213	($271,051)	($479)	($775)	$307	$260
Balance, shares at Dec. 31, 2013		'	'	'	'	-59	30,705	25,985
Net loss		-2,603	'	-2,603	'	'	'	'
Other comprehensive income		453	'	'	453	'	'	'
Conversion of shares	[1]	0	'	'	'	'	3	-3
Conversion of shares, shares	[1]	'	'	'	'	'	250	-250
Issuance of shares of stock in conjunction with stock option exercises		890	888	'	'	'	2	'
Issuance of shares of stock in conjunction with stock option exercises, shares		'	'	'	'	'	277	'
Issuance of shares of stock and restricted stock, net of cancellations and tax withholdings		0	0	'	'	'	0	'
Issuance of shares of stock and restricted stock, net of cancellations and tax withholdings, shares		'	'	'	'	'	-14	'
Non-cash equity compensation		601	601	'	'	'	'	'
Balance at Mar. 31, 2014		$69,816	$343,702	($273,654)	($26)	($775)	$312	$257
Balance, shares at Mar. 31, 2014		'	'	'	'	-59	31,218	25,735
[1]	The converted shares of Class B Common Stock were retired and returned to the authorized but unissued shares of Class B Common Stock.

Consolidated_Statements_of_Cas

Consolidated Statements of Cash Flows (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
CASH FLOWS FROM OPERATING ACTIVITIES	'	'
Net loss	($2,603)	($3,273)
Adjustments to reconcile net loss to net cash provided by operating activities:	'	'
Non-cash revenue	-1,768	-133
Depreciation and amortization	3,039	967
Non-cash equity compensation	601	558
Deferred income tax expense	-54	308
Gain on sale of subscriber list, net	0	-2,689
Other non-cash charges, net	535	-91
Changes in operating assets and liabilities	'	'
Accounts receivable, net	19,899	12,875
Paper inventory	867	1,077
Accounts payable and accrued liabilities and other	-599	-278
Accrued payroll and related costs	-3,491	-3,651
Deferred subscription revenue	-1,382	-2,132
Deferred revenue	2,498	-1,429
Other changes	1,016	-885
Total changes in operating assets and liabilities	18,808	5,577
Net cash provided by operating activities	18,558	1,224
CASH FLOWS FROM INVESTING ACTIVITIES	'	'
Capital expenditures	-305	-282
Purchases of short-term investments	-25,498	-2,418
Sales of short-term investments	2,471	9,452
Proceeds from the sale of subscriber list, net	0	738
Net cash (used in) / provided by investing activities	-23,332	7,490
CASH FLOWS FROM FINANCING ACTIVITIES	'	'
Proceeds received from stock option exercises	890	0
Change in restricted cash	14	0
Net cash provided by financing activities	904	0
Net (decrease) / increase in cash	-3,870	8,714
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	21,884	19,925
CASH AND CASH EQUIVALENTS, END OF PERIOD	$18,014	$28,639

General

General	3 Months Ended
	Mar. 31, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'
General	'
	General
	Martha Stewart Living Omnimedia, Inc., together with its subsidiaries, is herein referred to as “we,” “us,” “our,” or the “Company.”
	The information included in the foregoing interim consolidated financial statements is unaudited. In the opinion of management, all adjustments, all of which are of a normal recurring nature and necessary for a fair presentation of the results of operations for the interim periods presented, have been reflected therein. The results of operations for interim periods do not necessarily indicate the results to be expected for the entire year. These unaudited consolidated financial statements should be read in conjunction with the audited financial statements included in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission (the “SEC”) with respect to the Company’s fiscal year ended December 31, 2013 (the “2013 Form 10-K”) which may be accessed through the SEC’s website at http://www.sec.gov.
	The preparation of financial statements in conformity with U.S. generally accepted accounting principles (“GAAP”) requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. Management does not expect such differences to have a material effect on the Company’s consolidated financial statements.

Significant_Accounting_Policie

Significant Accounting Policies	3 Months Ended
	Mar. 31, 2014
Accounting Policies [Abstract]	'
Significant Accounting Policies	'
	Significant Accounting Policies
	The Company’s significant accounting policies are discussed in detail in its 2013 Form 10-K.

Fair_Value_Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2014
Fair Value Disclosures [Abstract]	'
Fair Value Measurements	'
	Fair Value Measurements
	The Company categorizes its assets measured at fair value into a fair value hierarchy that prioritizes the inputs used in pricing the asset or liability. The three levels of the fair value hierarchy are:
	•	Level 1: Observable inputs such as quoted prices for identical assets and liabilities in active markets obtained from independent sources.
	•	Level 2: Other inputs that are observable directly or indirectly, such as quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active and inputs that are derived principally from or corroborated by observable market data. The fair values of the Company’s level 2 securities are primarily obtained from observable market prices for identical underlying securities that may not be actively traded. Certain of these securities may have different market prices from multiple market data sources, in which case a weighted average market price is used.
	•	Level 3: Unobservable inputs for which there is little or no market data and require the Company to develop its own assumptions, based on the best information available in the circumstances, about the assumptions market participants would use in pricing the asset or liability.
	The Company has no liabilities that are measured at fair value on a recurring basis. The following tables present the Company’s assets that are measured at fair value on a recurring basis:
		31-Mar-14
	(in thousands)	Quoted		Significant			Significant		Total
		Market		Other			Unobservable		Fair Value
		Prices in		Observable			Inputs		Measurements
		Active		Inputs			(Level 3)
		Markets for		(Level 2)
		Identical
		Assets
		(Level 1)
	Short-term investments:
	Fixed income mutual fund	$	2,485	$	—		$	—	$	2,485
	U.S. government and agency securities	—		1,757			—		1,757
	Corporate obligations	—		32,576		*	—		32,576
	Other fixed income securities	—		626			—		626
	International securities	—		7,641			—		7,641
	Municipal obligations	—		1,474			—		1,474
	Total	$	2,485	$	44,074		$	—	$	46,559
		31-Dec-13
	(in thousands)	Quoted		Significant			Significant		Total
		Market		Other			Unobservable		Fair Value
		Prices in		Observable			Inputs		Measurements
		Active		Inputs			(Level 3)
		Markets for		(Level 2)
		Identical
		Assets
		(Level 1)
	Short-term investments:
	Fixed income mutual fund	$	2,485	$	—		$	—	$	2,485
	U.S. government and agency securities	—		2,233			—		2,233
	Corporate obligations	—		14,159		*	—		14,159
	Other fixed income securities	—		361			—		361
	International securities	—		3,048			—		3,048
	Municipal obligations	—		1,477			—		1,477
	Total	$	2,485	$	21,278		$	—	$	23,763
	* Included in this amount is a corporate obligation of $4.5 million as of March 31, 2014 and December 31, 2013. This corporate obligation has been used to collateralize the Company's line of credit with Bank of America, and is included in the line item "Restricted cash and investments," a component of current assets, on the consolidated balance sheets. See Note 6, Credit Facilities, for further details.
	Assets measured at fair value on a nonrecurring basis
	The Company’s non-financial assets, such as goodwill, intangible assets and property and equipment, are initially measured at cost or fair value. In the event there is an indicator of impairment, such asset's carrying value is adjusted to current fair value only when an impairment charge is recognized. Such impairment charges incorporate fair value measurements based on Level 3 inputs.

ShortTerm_Investments

Short-Term Investments	3 Months Ended
	Mar. 31, 2014
Investments, Debt and Equity Securities [Abstract]	'
Short-Term Investments	'
	Short-Term Investments
	The Company's investments consist of marketable debt securities that are classified as available-for-sale and presented as "Short-term investments" and a portion of "Restricted cash and investments," both components of current assets on the consolidated balance sheets. The Company's available-for-sale securities represent investments available for current operations and may be sold prior to their stated maturities for strategic or operational reasons. The available-for-sale debt securities are carried at fair value, with the unrealized gains and losses reported in "Accumulated other comprehensive loss." The amortized cost of the available-for-sale debt securities is adjusted for amortization of premiums and accretion of discounts to maturity computed under the effective interest method. Such amortization in included in "Interest income, net" on the consolidated statements of operations.
	Realized gains and losses are included in "Other expense, net" on the consolidated statements of operations. The cost of securities sold is based on the specific identification method. Interest and dividends on available-for-sale securities are included in "Interest income, net" on the consolidated statements of operations.
	As of March 31, 2014 and December 31, 2013, the Company's amortized cost of its available-for-sale securities approximated fair value. Gross unrealized losses of $(0.05) million, as of March 31, 2014, were partially offset by gross unrealized gains of $0.03 million. As of December 31, 2013, gross unrealized losses of $(0.5) million were partially offset by gross unrealized gains of $0.03 million. The Company considered the declines in market value of its marketable available-for-sale securities investment portfolio to be temporary in nature and did not consider any of its investments other-than-temporarily impaired as of March 31, 2014 and December 31, 2013. Contractual maturities for the Company's available-for-sale securities are generally within two years of March 31, 2014.
	During the three months ended March 31, 2014, the gross realized gains and losses on sales of available-for-sale marketable securities were $0.03 million and $(0.5) million, respectively, and presented net as "Other expense, net" on the consolidated statements of operations, including amounts reclassified out of accumulated other comprehensive loss of $0.03 million and $(0.5) million, respectively. See Note 5, Accumulated Other Comprehensive Loss, for further information.

Accumulated_Other_Comprehensiv

Accumulated Other Comprehensive Loss	3 Months Ended
	Mar. 31, 2014
Equity [Abstract]	'
Accumulated Other Comprehensive Loss	'
	Accumulated Other Comprehensive Loss
	Accumulated other comprehensive income/(loss), included as a component of shareholders' equity, consists of unrealized gains and losses affecting equity that, under GAAP, are excluded from net income/(loss). For the Company, accumulated other comprehensive loss is impacted by unrealized gains/(losses) on available-for-sale securities as of the reporting period date and by reclassification adjustments resulting from sales or maturities of available-for-sale securities. The components of accumulated other comprehensive loss as of March 31, 2014 and December 31, 2013 are set forth in the schedule below:
	(in thousands)	Unrealized Gains/(Losses) on Available-for-sale Securities			Total Accumulated Other Comprehensive Loss
	Balance at December 31, 2013	$	(479	)	$	(479	)
	Amounts reclassified for net realized losses on available-for-sale securities included in net loss *	491			491
	Net unrealized losses on available-for-sale securities occurring during the period	(38		)	(38		)
	Balance at March 31, 2014	$	(26	)	$	(26	)
	* Amounts reclassified for previously unrealized losses on available-for-sale securities are included in "Other expense, net" on the consolidated statements of operations.

Credit_Facilities

Credit Facilities	3 Months Ended
	Mar. 31, 2014
Debt Disclosure [Abstract]	'
Credit Facilities	'
	Credit Facilities
	In May 2013, pursuant to the Amendment to Amended and Restated Loan Agreement between the Company and Bank of America, N.A., (the "Amended Credit Agreement"), the Company arranged for a line of credit with Bank of America of $5.0 million. Borrowings under this line of credit are available for investment opportunities, working capital, and the issuance of letters of credit. The annual interest rate on outstanding amounts is equal to a floating rate of 1-month LIBOR Daily Floating Rate plus 1.85%. The unused commitment fee is equal to 0.25%. In connection with the Amended Credit Agreement, the Company entered into a Pledge Agreement, which provides that the line of credit must be secured by cash or investment collateral of at least $5.0 million. The Company had restricted investments of $4.5 million as of each of March 31, 2014 and December 31, 2013, and restricted cash of $0.6 million on each of these dates. The aggregate of these amounts is included in the line item "Restricted cash and investments," a component of current assets, on the consolidated balance sheets.
	The Amended Credit Agreement expires on June 12, 2014, at which time any outstanding amounts borrowed under the agreement become due and payable. As of March 31, 2014 and December 31, 2013, the Company had no outstanding borrowings against its line of credit or the predecessor line of credit, but had outstanding letters of credit of $1.0 million and $1.6 million, respectively.

Depreciation_and_Amortization

Depreciation and Amortization	3 Months Ended
	Mar. 31, 2014
Property, Plant and Equipment [Abstract]	'
Depreciation and Amortization	'
	Depreciation and Amortization
	Depreciation and amortization expense of $3.0 million for the three months ended March 31, 2014 included $2.1 million from the non-recurring accelerated amortization of leasehold improvements related to the consolidation of the Company's primary office space during February 2014.

Income_Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2014
Income Tax Disclosure [Abstract]	'
Income taxes	'
	Income Taxes
	The Company follows ASC Topic 740, Income Taxes (“ASC 740”). Under the asset and liability method of ASC 740, deferred assets and liabilities are recognized for the future costs and benefits attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. The Company periodically reviews the requirements for a valuation allowance and makes adjustments to such allowances when changes in circumstances result in changes in the Company’s judgment about the future realization of deferred tax assets. The Company intends to maintain a valuation allowance until evidence would support the conclusion that it is more likely than not that the deferred tax assets will be realized. The Company recorded $(0.02) million of net tax benefit during the three months ended March 31, 2014. During the quarter, the Company reduced its overall effective tax rate from 41% to 39% as a result of the 2014 New York corporate tax reform, which was enacted on March 31, 2014. The amount recorded includes a non-recurring tax benefit to revalue deferred tax liabilities as a result of the change in our effective rate and is partially offset by tax expense attributable to differences between the financial statement carrying amounts of past acquisitions of certain indefinite-lived intangible assets and their respective tax bases.
	ASC 740 further establishes guidance on the accounting for uncertain tax positions. As of March 31, 2014, the Company had a liability for uncertain tax positions balance of $0.06 million, of which $0.04 million represented unrecognized tax benefits, which if recognized at some point in the future would favorably impact the effective tax rate, and $0.02 million of interest expense. The Company is no longer subject to U.S. federal income tax examinations by tax authorities for the years before 2005 and state examinations for the years before 2003.

Industry_Segments

Industry Segments	3 Months Ended
	Mar. 31, 2014
Segment Reporting [Abstract]	'
Industry Segments	'
	Industry Segments
	The Company is an integrated media and merchandising company providing consumers with inspiring lifestyle content and well-designed, high-quality products. The Company’s business segments are Publishing, Merchandising and Broadcasting.
	The Publishing segment primarily consists of the Company’s operations related to its magazines (Martha Stewart Living and Martha Stewart Weddings) and books, as well as its digital operations, which includes the content-driven website, marthastewart.com, and the digital distribution of video content. Publishing segment results can vary from quarter to quarter due to publication schedules and seasonality of certain types of advertising. Certain costs vary from quarter to quarter, particularly newsstand marketing costs associated with the distribution of the Company's magazines.
	The Merchandising segment primarily consists of the Company’s operations related to the design and branding of merchandise and related collateral and packaging materials that are manufactured and distributed by its retail and wholesale partners in exchange for royalty income. Revenues from the Merchandising segment can vary significantly from quarter to quarter due to changes in product mix, new product launches and the performance of certain seasonal product lines. The Merchandising segment also includes the licensing of talent services for television programming produced by third parties.
	The Broadcasting segment consists of the Company's limited television production operations, television content library licensing and satellite radio operations.
	Segment information for the three months ended March 31, 2014 and 2013 is as follows:
	(in thousands)	Publishing			Merchandising			Broadcasting			Corporate			Consolidated
	2014
	Revenues	$	19,506		$	13,084		$	678		$	—		$	33,268
	Non–cash equity compensation	(58		)	(53		)	(1		)	(489		)	(601		)
	Depreciation and amortization	(170		)	(19		)	(1		)	(2,849		)	(3,039		)
	Operating (loss) / income	(2,750		)	9,300			193			(8,933		)	(2,190		)
	2013
	Revenues	$	24,482		$	11,507		$	1,235		$	—		$	37,224
	Non–cash equity compensation *	(144		)	(79		)	(7		)	(353		)	(583		)
	Depreciation and amortization	(255		)	(15		)	(24		)	(673		)	(967		)
	Restructuring charges *	—			(392		)	—			(131		)	(523		)
	Gain on sale of subscriber list, net	2,689			—			—			—			2,689
	Operating (loss) / income	(990		)	5,686			961			(8,702		)	(3,045		)
	* As disclosed on the Company's consolidated statements of cash flows, total non-cash equity compensation expense was $0.6 million for the three months ended March 31, 2013. Included in non-cash equity compensation expense were net reversals of expense of approximately $0.02 million, which was generated in connection with restructuring activities. Accordingly, these amounts are reflected as restructuring charges in the Company's consolidated statements of operations for three months ended March 31, 2013.

Other_Information

Other Information	3 Months Ended
	Mar. 31, 2014
Other Information [Abstract]	'
Other Information	'
	Other Information
	Production, distribution and editorial expenses; selling and promotion expenses; and general and administrative expenses are each presented exclusive of depreciation and amortization, restructuring charges and gain on sale of subscriber list, net, which are disclosed separately on the Company's consolidated statements of operations. Additionally, certain prior year amounts have been reclassified to conform to the current year presentation.

Legal_Matters

Legal Matters	3 Months Ended
	Mar. 31, 2014
Commitments and Contingencies Disclosure [Abstract]	'
Legal Matters	'
	Legal Matters
	The Company is party to legal proceedings in the ordinary course of business, including product liability claims for which the Company is indemnified by its licensees. None of these proceedings is deemed material.

Fair_Value_Measurements_Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2014
Fair Value Disclosures [Abstract]	'
Assets Measured At Fair Value	'
	The following tables present the Company’s assets that are measured at fair value on a recurring basis:
		31-Mar-14
	(in thousands)	Quoted		Significant			Significant		Total
		Market		Other			Unobservable		Fair Value
		Prices in		Observable			Inputs		Measurements
		Active		Inputs			(Level 3)
		Markets for		(Level 2)
		Identical
		Assets
		(Level 1)
	Short-term investments:
	Fixed income mutual fund	$	2,485	$	—		$	—	$	2,485
	U.S. government and agency securities	—		1,757			—		1,757
	Corporate obligations	—		32,576		*	—		32,576
	Other fixed income securities	—		626			—		626
	International securities	—		7,641			—		7,641
	Municipal obligations	—		1,474			—		1,474
	Total	$	2,485	$	44,074		$	—	$	46,559
		31-Dec-13
	(in thousands)	Quoted		Significant			Significant		Total
		Market		Other			Unobservable		Fair Value
		Prices in		Observable			Inputs		Measurements
		Active		Inputs			(Level 3)
		Markets for		(Level 2)
		Identical
		Assets
		(Level 1)
	Short-term investments:
	Fixed income mutual fund	$	2,485	$	—		$	—	$	2,485
	U.S. government and agency securities	—		2,233			—		2,233
	Corporate obligations	—		14,159		*	—		14,159
	Other fixed income securities	—		361			—		361
	International securities	—		3,048			—		3,048
	Municipal obligations	—		1,477			—		1,477
	Total	$	2,485	$	21,278		$	—	$	23,763

Accumulated_Other_Comprehensiv1

Accumulated Other Comprehensive Loss (Tables)	3 Months Ended
	Mar. 31, 2014
Equity [Abstract]	'
Schedule of Accumulated Other Comprehensive Income (Loss)	'
	The components of accumulated other comprehensive loss as of March 31, 2014 and December 31, 2013 are set forth in the schedule below:
	(in thousands)	Unrealized Gains/(Losses) on Available-for-sale Securities			Total Accumulated Other Comprehensive Loss
	Balance at December 31, 2013	$	(479	)	$	(479	)
	Amounts reclassified for net realized losses on available-for-sale securities included in net loss *	491			491
	Net unrealized losses on available-for-sale securities occurring during the period	(38		)	(38		)
	Balance at March 31, 2014	$	(26	)	$	(26	)

Industry_Segments_Tables

Industry Segments (Tables)	3 Months Ended
	Mar. 31, 2014
Segment Reporting [Abstract]	'
Segment Information	'
	Segment information for the three months ended March 31, 2014 and 2013 is as follows:
	(in thousands)	Publishing			Merchandising			Broadcasting			Corporate			Consolidated
	2014
	Revenues	$	19,506		$	13,084		$	678		$	—		$	33,268
	Non–cash equity compensation	(58		)	(53		)	(1		)	(489		)	(601		)
	Depreciation and amortization	(170		)	(19		)	(1		)	(2,849		)	(3,039		)
	Operating (loss) / income	(2,750		)	9,300			193			(8,933		)	(2,190		)
	2013
	Revenues	$	24,482		$	11,507		$	1,235		$	—		$	37,224
	Non–cash equity compensation *	(144		)	(79		)	(7		)	(353		)	(583		)
	Depreciation and amortization	(255		)	(15		)	(24		)	(673		)	(967		)
	Restructuring charges *	—			(392		)	—			(131		)	(523		)
	Gain on sale of subscriber list, net	2,689			—			—			—			2,689
	Operating (loss) / income	(990		)	5,686			961			(8,702		)	(3,045		)
	* As disclosed on the Company's consolidated statements of cash flows, total non-cash equity compensation expense was $0.6 million for the three months ended March 31, 2013. Included in non-cash equity compensation expense were net reversals of expense of approximately $0.02 million, which was generated in connection with restructuring activities. Accordingly, these amounts are reflected as restructuring charges in the Company's consolidated statements of operations for three months ended March 31, 2013.

Fair_Value_Measurements_Assets

Fair Value Measurements (Assets Measured At Fair Value) (Details) (USD $)	Mar. 31, 2014		Dec. 31, 2013
In Thousands, unless otherwise specified
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]	'		'
Short-term investments	$46,559		$23,763
Mutual Funds [Member]	'		'
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]	'		'
Short-term investments	2,485		2,485
U.S. Government And Agency Securities [Member]	'		'
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]	'		'
Short-term investments	1,757		2,233
Corporate Obligations [Member]	'		'
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]	'		'
Short-term investments	32,576		14,159
Other Fixed Income Securities [Member]	'		'
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]	'		'
Short-term investments	626		361
International Securities [Member]	'		'
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]	'		'
Short-term investments	7,641		3,048
Municipal Obligations [Member]	'		'
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]	'		'
Short-term investments	1,474		1,477
Quoted Market Prices in Active Markets for Identical Assets (Level 1) [Member]	'		'
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]	'		'
Short-term investments	2,485		2,485
Quoted Market Prices in Active Markets for Identical Assets (Level 1) [Member] | Mutual Funds [Member]	'		'
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]	'		'
Short-term investments	2,485		2,485
Significant Other Observable Inputs (Level 2) [Member]	'		'
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]	'		'
Short-term investments	44,074		21,278
Significant Other Observable Inputs (Level 2) [Member] | U.S. Government And Agency Securities [Member]	'		'
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]	'		'
Short-term investments	1,757		2,233
Significant Other Observable Inputs (Level 2) [Member] | Corporate Obligations [Member]	'		'
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]	'		'
Short-term investments	32,576	[1]	14,159	[1]
Significant Other Observable Inputs (Level 2) [Member] | Corporate Obligations [Member] | Line of Credit [Member]	'		'
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]	'		'
Short-term investments	4,500		4,500
Significant Other Observable Inputs (Level 2) [Member] | Other Fixed Income Securities [Member]	'		'
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]	'		'
Short-term investments	626		361
Significant Other Observable Inputs (Level 2) [Member] | International Securities [Member]	'		'
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]	'		'
Short-term investments	7,641		3,048
Significant Other Observable Inputs (Level 2) [Member] | Municipal Obligations [Member]	'		'
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]	'		'
Short-term investments	$1,474		$1,477
[1]	Included in this amount is a corporate obligation of $4.5 million as of MarchB 31, 2014 and December 31, 2013. This corporate obligation has been used to collateralize the Company's line of credit with Bank of America, and is included in the line item "Restricted cash and investments," a component of current assets, on the consolidated balance sheets. See Note 6, Credit Facilities, for further details.

ShortTerm_Investments_Details

Short-Term Investments (Details) (USD $)	3 Months Ended				3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013	Mar. 31, 2014	Dec. 31, 2013	Mar. 31, 2014	Mar. 31, 2014
			Debt Securities [Member]	Debt Securities [Member]	Accumulated Gross Realized Gain [Member]	Accumulated Gross Realized Loss [Member]
					Reclassification out of Accumulated Other Comprehensive Income [Member]	Reclassification out of Accumulated Other Comprehensive Income [Member]
Schedule of Available-for-sale Securities [Line Items]	'	'	'	'	'	'
Available-for-sale debt securities, gross unrealized loss	'	'	($50,000)	($500,000)	'	'
Available-for-sale debt securities, gross unrealized gain	'	'	30,000	30,000	'	'
Available-for-sale debt securities, gross realized gain	'	'	30,000	'	'	'
Available-for-sale debt securities, gross realized loss	'	'	-500,000	'	'	'
Other expense, net	($494,000)	($70,000)	'	'	$30,000	($500,000)

Accumulated_Other_Comprehensiv2

Accumulated Other Comprehensive Loss (Details) (USD $)	Mar. 31, 2014	Dec. 31, 2013	Mar. 31, 2014	Dec. 31, 2013	Mar. 31, 2014		Mar. 31, 2014		Mar. 31, 2014	Mar. 31, 2014
In Thousands, unless otherwise specified			Unrealized Gains/(Losses) on Available-for-sale Securities [Member]	Unrealized Gains/(Losses) on Available-for-sale Securities [Member]	Net Realized Losses on Available-for-Sale Securities Included in Net Loss [Member]		Net Realized Losses on Available-for-Sale Securities Included in Net Loss [Member]		Net Unrealized Losses on Available-for-Sale Securities [Member]	Net Unrealized Losses on Available-for-Sale Securities [Member]
							Unrealized Gains/(Losses) on Available-for-sale Securities [Member]			Unrealized Gains/(Losses) on Available-for-sale Securities [Member]
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]	'	'	'	'	'		'		'	'
Beginning balance	($26)	($479)	($26)	($479)	'		'		'	'
Reclassifications from accumulated other comprehensive income (loss)	'	'	'	'	491	[1]	491	[1]	-38	-38
Ending balance	($26)	($479)	($26)	($479)	'		'		'	'
[1]	Amounts reclassified for previously unrealized losses on available-for-sale securities are included in "Other expense, net" on the consolidated statements of operations.

Credit_Facilities_Details

Credit Facilities (Details) (USD $)	1 Months Ended	3 Months Ended
	31-May-13	Mar. 31, 2014	Dec. 31, 2013
Debt Disclosure [Abstract]	'	'	'
Line of credit facility, current borrowing capacity	$5,000,000	'	'
Interest rate description	'	'1-month LIBOR Daily Floating Rate plus 1.85%	'
Spread over LIBOR	1.85%	'	'
Unused commitment fees	0.25%	'	'
Cash or investment collateral, amount	5,000,000	'	'
Restricted investments	'	4,500,000	'
Restricted cash	'	600,000	'
Outstanding borrowing under line of credit	'	0	0
Outstanding letters of credit	'	$1,000,000	$1,600,000

Depreciation_and_Amortization_

Depreciation and Amortization (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Property, Plant and Equipment [Line Items]	'	'
Depreciation and amortization	$3,039	$967
Leasehold Improvements [Member]	'	'
Property, Plant and Equipment [Line Items]	'	'
Depreciation and amortization	$2,100	'

Income_Taxes_Details

Income Taxes (Details) (USD $)	3 Months Ended		12 Months Ended
	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013
Income Tax Disclosure [Abstract]	'	'	'
Tax (benefit) / provision	($19,000)	$362,000	'
Effective income tax rate	39.00%	'	41.00%
Unrecognized tax benefits	60,000	'	'
Unrecognized tax benefits, which if recognized would impact on effective tax rate	40,000	'	'
Interest on income tax	$20,000	'	'

Industry_Segments_Details

Industry Segments (Details) (USD $)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Segment Reporting Information [Line Items]	'	'
Publishing Revenues	$19,506,000	$24,482,000
Merchandising Revenues	13,084,000	11,507,000
Broadcasting Revenues	678,000	1,235,000
Consolidated Revenues	33,268,000	37,224,000
Non-cash equity compensation	-601,000	-583,000	[1]
Depreciation and amortization	-3,039,000	-967,000
Restructuring charges	0	-523,000	[1]
Gain on sale of subscriber list, net	0	2,689,000
Operating income/(loss)	-2,190,000	-3,045,000
Share-based compensation	601,000	558,000
Share-based compensation, net reversals of expense related to restructuring activities	'	20,000
Publishing [Member]	'	'
Segment Reporting Information [Line Items]	'	'
Publishing Revenues	19,506,000	24,482,000
Non-cash equity compensation	-58,000	-144,000	[1]
Depreciation and amortization	-170,000	-255,000
Gain on sale of subscriber list, net	'	2,689,000
Operating income/(loss)	-2,750,000	-990,000
Merchandising [Member]	'	'
Segment Reporting Information [Line Items]	'	'
Merchandising Revenues	13,084,000	11,507,000
Non-cash equity compensation	-53,000	-79,000	[1]
Depreciation and amortization	-19,000	-15,000
Restructuring charges	'	-392,000	[1]
Operating income/(loss)	9,300,000	5,686,000
Broadcasting [Member]	'	'
Segment Reporting Information [Line Items]	'	'
Broadcasting Revenues	678,000	1,235,000
Non-cash equity compensation	-1,000	-7,000	[1]
Depreciation and amortization	-1,000	-24,000
Operating income/(loss)	193,000	961,000
Corporate [Member]	'	'
Segment Reporting Information [Line Items]	'	'
Non-cash equity compensation	-489,000	-353,000	[1]
Depreciation and amortization	-2,849,000	-673,000
Restructuring charges	'	-131,000	[1]
Operating income/(loss)	($8,933,000)	($8,702,000)
[1]	As disclosed on the Company's consolidated statements of cash flows, total non-cash equity compensation expense was $0.6 million for the three months ended March 31, 2013. Included in non-cash equity compensation expense were net reversals of expense of approximately $0.02 million, which was generated in connection with restructuring activities. Accordingly, these amounts are reflected as restructuring charges in the Company's consolidated statements of operations for three months ended March 31, 2013.