Martha Stewart Living Omnimedia 10-Q 5 May 15 2015 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
	Mar. 31, 2015	1-May-15
Entity Information
Entity Registrant Name	MARTHA STEWART LIVING OMNIMEDIA INC
Entity Central Index Key	1091801
Current Fiscal Year End Date	-19
Entity Filer Category	Accelerated Filer
Document Type	10-Q
Document Period End Date	31-Mar-15
Document Fiscal Year Focus	2015
Trading Symbol	MSO
Document Fiscal Period Focus	Q1
Amendment Flag	FALSE
Common Stock
Entity Information
Entity Common Stock, Shares Outstanding		57,388,277
Class A Common Stock
Entity Information
Entity Common Stock, Shares Outstanding		32,403,652
Class B Common Stock
Entity Information
Entity Common Stock, Shares Outstanding		24,984,625

Consolidated_Balance_Sheets

Consolidated Balance Sheets (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
CURRENT ASSETS
Cash and cash equivalents	$25,113	$11,439
Short-term investments	27,968	36,816
Accounts receivable, net	12,083	30,319
Other current assets	2,581	3,108
Total current assets	67,745	81,682
PROPERTY AND EQUIPMENT, net	4,401	4,106
INTANGIBLE ASSET - TRADEMARKS	34,700	34,700
OTHER NONCURRENT ASSETS	989	991
Total assets	107,835	121,479
CURRENT LIABILITIES
Accounts payable and accrued liabilities	9,498	14,753
Accrued payroll and related costs	2,027	5,706
Current portion of other deferred revenue	14,691	16,090
Total current liabilities	26,216	36,549
OTHER DEFERRED REVENUE	8,552	10,119
DEFERRED INCOME TAX LIABILITY	4,041	3,755
OTHER NONCURRENT LIABILITIES	2,376	2,371
Total liabilities	41,185	52,794
COMMITMENTS AND CONTINGENCIES
SHAREHOLDERS’ EQUITY
Capital in excess of par value	345,549	345,021
Accumulated deficit	-278,694	-276,109
Accumulated other comprehensive loss	-3	-24
Shareholders' equity before treasury stock	67,425	69,460
Less: Class A treasury stock – 59,400 shares at cost	-775	-775
Total shareholders’ equity	66,650	68,685
Total liabilities and shareholders’ equity	107,835	121,479
Class A Common Stock
SHAREHOLDERS’ EQUITY
Common Stock	323	322
Class B Common Stock
SHAREHOLDERS’ EQUITY
Common Stock	$250	$250

Consolidated_Balance_Sheets_Pa

Consolidated Balance Sheets (Parenthetical) (USD $)	Mar. 31, 2015	Dec. 31, 2014
Class A Common Stock
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	32,335,687	32,260,936
Common Stock, shares outstanding	32,276,287	32,201,536
Treasury stock, shares	59,400	59,400
Class B Common Stock
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	24,984,625	24,984,625
Common Stock, shares outstanding	24,984,625	24,984,625

Consolidated_Statements_of_Ope

Consolidated Statements of Operations (USD $)	3 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
REVENUES
Total revenues	$17,052	$33,268
Production, distribution and editorial	-7,787	-15,413
Selling and promotion	-1,206	-8,097
General and administrative	-9,958	-8,909
Depreciation and amortization	-454	-3,039
OPERATING LOSS	-2,353	-2,190
Interest income / (expense) and other, net	34	-432
LOSS BEFORE INCOME TAXES	-2,319	-2,622
Income tax (provision) / benefit	-266	19
NET LOSS	-2,585	-2,603
LOSS PER SHARE – BASIC AND DILUTED
Net loss (in usd per share)	($0.05)	($0.05)
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING
Basic and diluted (in shares)	57,207,627	56,680,826
Publishing
REVENUES
Total revenues	5,712	19,506
Depreciation and amortization	-56	-170
OPERATING LOSS	-2,128	-2,750
Merchandising
REVENUES
Total revenues	10,973	13,084
Depreciation and amortization	-9	-19
OPERATING LOSS	7,482	9,300
Broadcasting
REVENUES
Total revenues	367	678
Depreciation and amortization	0	-1
OPERATING LOSS	($12)	$193

Consolidated_Statements_of_Com

Consolidated Statements of Comprehensive Loss (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Statement of Comprehensive Income [Abstract]
Net loss	($2,585)	($2,603)
Other comprehensive (loss) / income:
Amounts reclassified for net realized (gains) / losses on available-for-sale securities included in net loss	-1	491
Net unrealized gains / (losses) on available-for-sale securities occurring during the period	22	-38
Other comprehensive income	21	453
Total comprehensive loss	($2,564)	($2,150)

Consolidated_Statement_of_Shar

Consolidated Statement of Shareholders' Equity (USD $)	Total	Capital in Excess of Par Value	Accumulated Deficit	Accumulated Other Comprehensive Loss	Class A Treasury Stock	Class A Common Stock	Class B Common Stock
In Thousands, unless otherwise specified						Common Stock	Common Stock
Balance at Dec. 31, 2014	$68,685	$345,021	($276,109)	($24)	($775)	$322	$250
Balance, shares at Dec. 31, 2014					-59	32,261	24,985
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	-2,585		-2,585
Other comprehensive income	21			21
Issuance of shares of stock in conjunction with stock option exercises, shares						14
Issuance of shares of stock in conjunction with stock option exercises	61	61				0
Issuance of shares of stock and restricted stock, net of cancellations and tax withholdings, shares						61
Issuance of shares of stock and restricted stock, net of cancellations and tax withholdings	-107	-108				1
Non-cash equity compensation	575	575
Balance at Mar. 31, 2015	$66,650	$345,549	($278,694)	($3)	($775)	$323	$250
Balance, shares at Mar. 31, 2015					-59	32,336	24,985

Consolidated_Statements_of_Cas

Consolidated Statements of Cash Flows (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	($2,585)	($2,603)
Adjustments to reconcile net loss to net cash provided by operating activities:
Non-cash revenue	-1,660	-1,768
Depreciation and amortization	454	3,039
Non-cash equity compensation	575	601
Deferred income tax expense / (benefit)	286	-54
Other non-cash charges, net	22	535
Changes in operating assets and liabilities
Accounts receivable, net	18,236	19,899
Accounts payable and accrued liabilities and other	-5,905	-599
Accrued payroll and related costs	-3,679	-3,491
Other deferred revenue	-1,306	1,116
Other changes	603	1,883
Total changes in operating assets and liabilities	7,949	18,808
Net cash provided by operating activities	5,041	18,558
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures	-100	-305
Purchases of short-term investments	-12,471	-25,498
Sales of short-term investments	21,250	2,471
Net cash provided / (used in) by investing activities	8,679	-23,332
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds received from stock option exercises	61	890
Shares withheld in payment of employee tax obligations	-107	0
Change in restricted cash	0	14
Net cash (used in) / provided by financing activities	-46	904
Net increase / (decrease) in cash and cash equivalents	13,674	-3,870
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	11,439	21,884
CASH AND CASH EQUIVALENTS, END OF PERIOD	$25,113	$18,014

General

General	3 Months Ended
	Mar. 31, 2015
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, as amended, filed with the Securities and Exchange Commission (the “SEC”) with respect to the Company’s fiscal year ended December 31, 2014 (the “2014 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 United States 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, 2015
Accounting Policies [Abstract]
Significant Accounting Policies	Significant Accounting Policies
	Recent accounting standards
	In April 2015, the Financial Accounting Standards Board ("FASB") issued a proposal for a one-year deferral of the effective date for Accounting Standards Update 2014-09 Revenue from Contracts with Customers (Topic 606) ("ASU 2014-09"). Under this proposal, the standard would be effective for public entities for annual reporting periods beginning after 15 December 2017 and interim periods therein. ASU 2014-09 completes the joint effort by the FASB and the International Accounting Standards Board to improve financial reporting by creating common revenue recognition guidance for GAAP and international financial reporting standards ("IFRS"). The joint project clarifies the principles for recognizing revenue and develops a common revenue standard for GAAP and IFRS. Specifically, it removes inconsistencies and weaknesses in revenue requirements, provides a more robust framework for addressing revenue issues, improves comparability of revenue recognition practices across entities, industries, jurisdictions, and capital markets, provides more useful information to users of financial statements through improved disclosure requirements and simplifies the preparation of financial statements by reducing the number of requirements to which an entity must refer. The core principle contemplated by ASU 2014-09 is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. New disclosures about the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers are also required. The Company was originally required to adopt ASU 2014-09 on January 1, 2017. Subsequently, the FASB proposed a one-year deferral of the effective date for this standard. If the deferral is adopted, the Company would now be required to adopt the standard on January 1, 2018. Early application is not permitted. The update may be applied using one of two methods: retrospective application to each prior reporting period presented, or retrospective application with the cumulative effect of initially applying the update recognized at the date of initial application. The Company is currently evaluating the transition method that will be elected and the impact of the update on its financial statements and disclosures.
	The Company’s significant accounting policies are discussed in detail in its 2014 Form 10-K, specifically in Note 2, Summary of Significant Accounting Policies, in the Notes to Consolidated Financial Statements.

Fair_Value_Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2015
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.
	•	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-15
	(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	$	2,492	$	—	$	—	$	2,492
	U.S. government and agency securities	—		1,313		—		1,313
	Corporate obligations	—		12,018		—		12,018
	Other fixed income securities	—		871		—		871
	International securities	—		11,274		—		11,274
	Total	$	2,492	$	25,476	$	—	$	27,968
		31-Dec-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	$	2,492	$	—	$	—	$	2,492
	U.S. government and agency securities	—		951		—		951
	Corporate obligations	—		22,145		—		22,145
	Other fixed income securities	—		491		—		491
	International securities	—		10,311		—		10,311
	Municipal obligations	—		426		—		426
	Total	$	2,492	$	34,324	$	—	$	36,816
	Assets measured at fair value on a nonrecurring basis
	The Company’s non-financial assets, such as intangible assets and property and equipment, are not required to be measured at fair value on a recurring basis. The Company evaluates the recoverability of its indefinite-lived intangible asset by performing impairment tests on an annual basis, as of each October 1, or when events or changes in circumstances indicate that the carrying amounts may not be recoverable. Any resulting asset impairment requires that the asset be recorded at its fair value. The Company's valuation methods to determine fair value utilize significant Level 3 unobservable inputs, which include discount rates, long-term growth rates and royalty rates.

ShortTerm_Investments

Short-Term Investments	3 Months Ended
	Mar. 31, 2015
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," a component 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 is netted against the related interest income and both are included in "Interest income / (expense) and other, net" in the consolidated statements of operations.
	Realized gains and losses are classified as other income or expense and included in "Interest income / (expense) and other, net" in the consolidated statements of operations. The cost of securities sold is based on the specific identification method.
	As of March 31, 2015 and December 31, 2014, the Company's amortized cost of its available-for-sale securities approximated fair value. Gross unrealized losses of $(0.02) million as of March 31, 2015 were partially offset by gross unrealized gains of $0.01 million. Gross unrealized losses were $(0.03) million as of December 31, 2014, with gross unrealized gains that were insignificant. 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, 2015 and as of December 31, 2014. Contractual maturities for the Company's available-for-sale securities are generally within two years of March 31, 2015.
	During the three months ended March 31, 2015, the gross realized gains and losses on sales of available-for-sale marketable securities and amounts reclassified out of accumulated other comprehensive loss were insignificant. 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 "Interest income / (expense) and other, net" on the consolidated statements of operations. Included in the realized gains and losses on sales of available-for-sale marketable securities were gains reclassified out of accumulated other comprehensive loss of $0.03 million and losses reclassified of $(0.5) million. See Note 5, Accumulated Other Comprehensive Loss, in these Notes to Consolidated Financial Statements for further information.

Accumulated_Other_Comprehensiv

Accumulated Other Comprehensive Loss	3 Months Ended
	Mar. 31, 2015
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, 2015 and December 31, 2014 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, 2014	$	(24	)	$	(24	)
	Amounts reclassified for net realized gains on available-for-sale securities included in net loss *	(1		)	(1		)
	Net unrealized gains on available-for-sale securities occurring during the period	22			22
	Balance at March 31, 2015	$	(3	)	$	(3	)
	* Amounts reclassified for previously unrealized losses on available-for-sale securities are included in "Interest income /(expense) and other, net" in the consolidated statements of operations.

Credit_Facilities

Credit Facilities	3 Months Ended
	Mar. 31, 2015
Debt Disclosure [Abstract]
Credit Facilities	Credit Facilities
	On May 19, 2014, the Company entered into an Amendment to the Amended and Restated Loan Agreement between the Company and Bank of America, N.A., dated February 14, 2012, (the "Amended Credit Agreement"), which provided for the continued arrangement for a line of credit with Bank of America, N.A. 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 annual unused commitment fee is equal to 0.25%. The Amended Credit Agreement expires on June 30, 2015, at which time outstanding amounts borrowed under the agreement, if any, become due and payable. The Company intends to renew its facility on similar or comparable terms. As of March 31, 2015 and December 31, 2014, the Company had no outstanding borrowings against its line of credit, but had outstanding letters of credit of $1.0 million on both dates.

Fixed_Assets_net

Fixed Assets, net	3 Months Ended
	Mar. 31, 2015
Capital Leases of Lessor [Abstract]
Fixed Assets, net	Fixed Assets, net
	On February 1, 2015, the Company acquired computer equipment pursuant to a capital lease. The minimum lease payments of $0.7 million through February 1, 2017, the end of the lease term, are as follows:
		Cash Payments (in thousands)
	2015	$	230
	2016	230
	2017	230
	The present value of these minimum lease payments was $0.7 million, with imputed interest of $0.01 million. The present value of the minimum lease payments, along with associated accumulated amortization of the capital lease of $0.04 million, were included within "Property and Equipment, net" on the consolidated balance sheet as of March 31, 2015. Ownership of the computer equipment transfers to the Company at the end of the lease term. Accordingly, the computer equipment under this capital lease is being amortized over three years, consistent with the Company's normal depreciation policy for owned computer assets.
	Depreciation and amortization expense was $0.5 million during the three months ended March 31, 2015, which included $0.04 million of amortization of assets recorded under a capital lease. For the three months ended March 31, 2014, depreciation and amortization expense was $3.0 million, which 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, 2015
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 $0.3 million of net tax expense during the three months ended March 31, 2015. The tax expense was 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, 2015, the liability for uncertain tax positions balance is zero. 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. The Company does not anticipate that the liability will change significantly over the next 12 months.

Industry_Segments

Industry Segments	3 Months Ended
	Mar. 31, 2015
Segment Reporting [Abstract]
Industry Segments	Industry Segments
	The Company is a globally recognized lifestyle company committed to providing consumers with inspiring content and well-designed, high quality products. The Company’s business segments are currently Publishing, Merchandising and Broadcasting.
	The Publishing segment primarily consists of the Company’s operations related to producing content for Martha Stewart Living, Martha Stewart Weddings and books, as well as for the content-driven website, marthastewart.com, and for digital distribution of video content. In October 2014, the Company entered into a Magazine, Content Creation and Licensing Agreement (the “MS Living Agreement”) with Meredith Corporation (“Meredith”), and, effective November 1, 2014, the Company discontinued publication of Martha Stewart Living and the Company's digital operations. Pursuant to the MS Living Agreement, Meredith assumed control of advertising sales, circulation and production of Martha Stewart Living and hosting, operating, maintaining, and providing advertising sales and related functions for marthastewart.com, marthastewartweddings.com and related digital assets. The Company will continue to own its underlying intellectual property, and create and provide all editorial content for Martha Stewart Living, marthastewart.com and marthastewartweddings.com.
	Concurrently with the MS Living Agreement, the parties also entered into the Magazine Publishing Agreement (the “MS Weddings Agreement”). Pursuant to the MS Weddings Agreement, Meredith assumed responsibility for advertising sales, circulation and production of Martha Stewart Weddings and related special interest publications, including Martha Stewart's Real Weddings, in the United States and Canada. The Company will continue to own its underlying intellectual property, and create and provide all editorial content for Martha Stewart Weddings and related special interest publications. The MS Weddings Agreement provides that Meredith will provide these services on a cost-plus basis. Meredith began delivering editions starting with the February 2015 issue of Martha Stewart Living and the Winter 2015 issue of Martha Stewart Weddings. For further discussion of our partnership with Meredith, see the Notes to Consolidated Financial Statements in our 2014 Form 10-K, specifically Note 1, The Company and Note 2, Summary of Significant Accounting Policies.
	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 and, in certain agreements, design fees. The Merchandising segment also includes the licensing of talent services for television programming produced by or on behalf of third parties.
	The Broadcasting segment consists of the Company's limited television production operations and television content library licensing.
	Segment information for the three months ended March 31, 2015 and 2014 is as follows:
	(in thousands)	Publishing			Merchandising			Broadcasting			Corporate			Consolidated
	2015
	Revenues	$	5,712		$	10,973		$	367		$	—		$	17,052
	Non–cash equity compensation	(44		)	(14		)	—			(517		)	(575		)
	Depreciation and amortization	(56		)	(9		)	—			(389		)	(454		)
	Operating (loss) / income	(2,128		)	7,482			(12		)	(7,695		)	(2,353		)
	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		)

Other_Information

Other Information	3 Months Ended
	Mar. 31, 2015
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, 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, 2015
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, 2015
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-15
	(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	$	2,492	$	—	$	—	$	2,492
	U.S. government and agency securities	—		1,313		—		1,313
	Corporate obligations	—		12,018		—		12,018
	Other fixed income securities	—		871		—		871
	International securities	—		11,274		—		11,274
	Total	$	2,492	$	25,476	$	—	$	27,968
		31-Dec-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	$	2,492	$	—	$	—	$	2,492
	U.S. government and agency securities	—		951		—		951
	Corporate obligations	—		22,145		—		22,145
	Other fixed income securities	—		491		—		491
	International securities	—		10,311		—		10,311
	Municipal obligations	—		426		—		426
	Total	$	2,492	$	34,324	$	—	$	36,816

Accumulated_Other_Comprehensiv1

Accumulated Other Comprehensive Loss Accumulated Other Comprehensive Loss (Tables)	3 Months Ended
	Mar. 31, 2015
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	The components of accumulated other comprehensive loss as of March 31, 2015 and December 31, 2014 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, 2014	$	(24	)	$	(24	)
	Amounts reclassified for net realized gains on available-for-sale securities included in net loss *	(1		)	(1		)
	Net unrealized gains on available-for-sale securities occurring during the period	22			22
	Balance at March 31, 2015	$	(3	)	$	(3	)
	* Amounts reclassified for previously unrealized losses on available-for-sale securities are included in "Interest income /(expense) and other, net" in the consolidated statements of operations.

Fixed_Assets_net_Tables

Fixed Assets, net (Tables)	3 Months Ended
	Mar. 31, 2015
Capital Leases of Lessor [Abstract]
Schedule of Minimum Lease Payments	The minimum lease payments of $0.7 million through February 1, 2017, the end of the lease term, are as follows:
		Cash Payments (in thousands)
	2015	$	230
	2016	230
	2017	230

Industry_Segments_Tables

Industry Segments (Tables)	3 Months Ended
	Mar. 31, 2015
Segment Reporting [Abstract]
Segment Information	Segment information for the three months ended March 31, 2015 and 2014 is as follows:
	(in thousands)	Publishing			Merchandising			Broadcasting			Corporate			Consolidated
	2015
	Revenues	$	5,712		$	10,973		$	367		$	—		$	17,052
	Non–cash equity compensation	(44		)	(14		)	—			(517		)	(575		)
	Depreciation and amortization	(56		)	(9		)	—			(389		)	(454		)
	Operating (loss) / income	(2,128		)	7,482			(12		)	(7,695		)	(2,353		)
	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		)

Fair_Value_Measurements_Assets

Fair Value Measurements (Assets Measured At Fair Value) (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Short-term investments	$27,968	$36,816
Fixed income mutual fund
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Short-term investments	2,492	2,492
U.S. government and agency securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Short-term investments	1,313	951
Corporate obligations
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Short-term investments	12,018	22,145
Other fixed income securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Short-term investments	871	491
International securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Short-term investments	11,274	10,311
Municipal obligations
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Short-term investments		426
Quoted Market Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Short-term investments	2,492	2,492
Quoted Market Prices in Active Markets for Identical Assets (Level 1) | Fixed income mutual fund
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Short-term investments	2,492	2,492
Significant Other Observable Inputs (Level 2)
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Short-term investments	25,476	34,324
Significant Other Observable Inputs (Level 2) | U.S. government and agency securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Short-term investments	1,313	951
Significant Other Observable Inputs (Level 2) | Corporate obligations
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Short-term investments	12,018	22,145
Significant Other Observable Inputs (Level 2) | Other fixed income securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Short-term investments	871	491
Significant Other Observable Inputs (Level 2) | International securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Short-term investments	11,274	10,311
Significant Other Observable Inputs (Level 2) | Municipal obligations
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Short-term investments		$426

ShortTerm_Investments_Details

Short-Term Investments (Details) (Debt Securities, USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
Schedule of Available-for-sale Securities
Available-for-sale debt securities, gross unrealized loss	($0.02)		($0.03)
Available-for-sale debt securities, gross unrealized gain	0.01
Contractual maturity	2 years
Available-for-sale debt securities, gross realized gain		0.03
Available-for-sale debt securities, gross realized loss		-0.5
Reclassification out of Accumulated Other Comprehensive Income
Schedule of Available-for-sale Securities
Available-for-sale debt securities, gross realized gain		0.03
Available-for-sale debt securities, gross realized loss		($0.50)

Accumulated_Other_Comprehensiv2

Accumulated Other Comprehensive Loss (Schedule of Accumulated Other Comprehensive Income (Loss) (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	($24)
Reclassifications from accumulated other comprehensive income (loss)	-1	[1]
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	22
Ending balance	-3
Unrealized Gains/(Losses) on Available-for-Sale Securities
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	-24
Reclassifications from accumulated other comprehensive income (loss)	-1	[1]
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	22
Ending balance	($3)
[1]	Amounts reclassified for previously unrealized losses on available-for-sale securities are included in "Interest income /(expense) and other, net" in the consolidated statements of operations.

Credit_Facilities_Details

Credit Facilities (Details) (USD $)	0 Months Ended
	19-May-14	Mar. 31, 2015	Dec. 31, 2014	19-May-14
Debt Disclosure [Abstract]
Line of credit facility, current borrowing capacity				$5,000,000
Spread over LIBOR	1.85%
Unused commitment fees	0.25%
Outstanding borrowing under line of credit		0	0
Outstanding letters of credit		$1,000,000	$1,000,000
Interest rate description	1-month LIBOR Daily Floating Rate plus 1.85%

Fixed_Assets_net_Details

Fixed Assets, net (Details) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Feb. 01, 2015
Property, Plant and Equipment
Minimum payments through the end of the lease term			$700,000
Depreciation and amortization	454,000	3,039,000
Capital Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract]
2015 minimum lease payments			230,000
2016 minimum lease payments			230,000
2017 minimum lease payments			230,000
Present value of minimum lease payments			700,000
Imputed interest of present value of these minimum lease payments			10,000
Computer Hardware And Software [Member]
Capital Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract]
Property, Plant and Equipment, Useful Life	3 years
Leasehold Improvements
Property, Plant and Equipment
Depreciation and amortization		2,100,000
Property and Equipment, net
Capital Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract]
Accumulated amortization of the capital lease	$40,000

Income_Taxes_Details

Income Taxes (Details) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Income Tax Disclosure [Abstract]
Tax (benefit) / provision	($266,000)	$19,000
Unrecognized tax benefits	$0

Industry_Segments_Industry_Inf

Industry Segments (Industry Information) (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Segment Reporting Information
Revenues	$17,052	$33,268
Non–cash equity compensation	-575	-601
Depreciation and amortization	-454	-3,039
Operating (loss) / income	-2,353	-2,190
Publishing
Segment Reporting Information
Revenues	5,712	19,506
Non–cash equity compensation	-44	-58
Depreciation and amortization	-56	-170
Operating (loss) / income	-2,128	-2,750
Merchandising
Segment Reporting Information
Revenues	10,973	13,084
Non–cash equity compensation	-14	-53
Depreciation and amortization	-9	-19
Operating (loss) / income	7,482	9,300
Broadcasting
Segment Reporting Information
Revenues	367	678
Non–cash equity compensation	0	-1
Depreciation and amortization	0	-1
Operating (loss) / income	-12	193
Corporate
Segment Reporting Information
Revenues	0	0
Non–cash equity compensation	-517	-489
Depreciation and amortization	-389	-2,849
Operating (loss) / income	($7,695)	($8,933)