RLJ Entertainment (RLJE) 10-Q 14 Aug 15 2015 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2015	Aug. 06, 2015
Document and Entity Information [Abstract]
Entity Registrant Name	RLJ ENTERTAINMENT, INC.
Entity Central Index Key	1,546,381
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		12,877,064
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q2
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2015

CONSOLIDATED BALANCE SHEETS (un

CONSOLIDATED BALANCE SHEETS (unaudited) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
ASSETS
Cash	$ 7,232	$ 6,662
Accounts receivable, net	10,075	17,389
Inventories, net	12,382	13,029
Investments in content, net	62,836	67,525
Prepaid expenses and other assets	3,157	2,633
Property, equipment and improvements, net	2,741	2,372
Equity investment in affiliate	21,424	22,281
Other intangible assets	13,677	15,272
Goodwill	44,891	44,891
Total assets	178,415	192,054
LIABILITIES AND EQUITY
Accounts payable and accrued liabilities	17,078	24,582
Accrued royalties and distribution fees	43,500	42,493
Deferred revenue	4,023	5,006
Debt, net of discount	62,525	80,913
Deferred tax liability	2,002	2,002
Stock warrant and other derivative liabilities	4,414	601
Total liabilities	133,542	155,597
Equity:
Common stock, $0.001 par value, 250,000,000 shares authorized, 13,724,756 shares issued at June 30, 2015 and December 31, 2014; 12,879,433 shares outstanding at June 30, 2015 and 13,335,258 shares outstanding at December 31, 2014	13	14
Additional paid-in capital	87,402	87,706
Accumulated deficit	(61,710)	(50,534)
Accumulated other comprehensive loss	(86)	(729)
Treasury shares, at cost, 845,323 shares at June 30, 2015 and 389,498 shares at December 31, 2014	0	0
Total equity	25,619	36,457
Total liabilities and equity	178,415	192,054
Mandatorily Redeemable Convertible Preferred Stock [Member]
LIABILITIES AND EQUITY
Mandatorily redeemable convertible preferred stock, $0.001 par value, 1,000,000 shares authorized; 31,046 shares issued and outstanding at June 30, 2015; and no shares issued and outstanding at December 31, 2014	$ 19,254	$ 0

CONSOLIDATED BALANCE SHEETS (u3

CONSOLIDATED BALANCE SHEETS (unaudited) (Parenthetical) - $ / shares	Jun. 30, 2015	Dec. 31, 2014
Equity:
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, authorized (in shares)	250,000,000	250,000,000
Common stock, shares issued (in shares)	13,724,756	13,724,756
Common stock, shares outstanding (in shares)	12,879,433	13,335,258
Treasury shares (in shares)	845,323	389,498
Mandatorily Redeemable Convertible Preferred Stock [Member]
Equity:
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, authorized (in shares)	1,000,000	1,000,000
Preferred stock, shares issued (in shares)	31,046	0
Preferred stock, shares outstanding (in shares)	31,046	0

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) [Abstract]
Revenues	$ 24,113	$ 32,083	$ 50,229	$ 62,355
Cost of sales
Content amortization and royalties	11,792	11,895	23,679	26,068
Manufacturing and fulfillment	6,981	10,273	15,311	20,304
Total cost of sales	18,773	22,168	38,990	46,372
Gross profit	5,340	9,915	11,239	15,983
Selling expenses	5,080	6,264	11,639	12,037
General and administrative expenses	4,490	4,660	10,005	9,805
Depreciation and amortization	1,210	1,434	2,375	2,957
Total operating expenses	10,780	12,358	24,019	24,799
LOSS FROM OPERATIONS	(5,440)	(2,443)	(12,780)	(8,816)
Equity earnings of affiliate	438	1,045	688	1,350
Interest expense, net	(2,581)	(1,985)	(5,524)	(4,003)
Change in fair value of stock warrants and other derivatives	7,140	1,122	7,637	(678)
Other income (expense)	161	363	(615)	486
LOSS BEFORE PROVISION FOR INCOME TAXES	(282)	(1,898)	(10,594)	(11,661)
Provision for income taxes	(264)	(380)	(582)	(688)
NET LOSS	(546)	(2,278)	(11,176)	(12,349)
Accretion of preferred stock dividends	(459)	0	(459)	0
NET LOSS ATTRIBUTABLE TO COMMON SHAREHOLDERS	$ (1,005)	$ (2,278)	$ (11,635)	$ (12,349)
Net loss per common share:
Basic and diluted (in dollars per share)	$ (0.08)	$ (0.18)	$ (0.92)	$ (0.99)
Weighted average shares outstanding:
Basic and diluted (in shares)	12,704	12,494	12,692	12,474

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (unaudited) [Abstract]
Net loss	$ (546)	$ (2,278)	$ (11,176)	$ (12,349)
Other comprehensive income:
Foreign currency translation gain	1,012	481	643	590
Total comprehensive income (loss)	$ 466	$ (1,797)	$ (10,533)	$ (11,759)

CONSOLIDATED STATEMENTS OF EQUI

CONSOLIDATED STATEMENTS OF EQUITY (unaudited) - USD ($) $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Deficit [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Treasury Stock [Member]	Total
Balance at Dec. 31, 2013	$ 13	$ 86,938	$ (29,334)	$ 310	$ 0	$ 57,927
Balance (in shares) at Dec. 31, 2013	13,701,000				0
Issuance of restricted common stock for services	$ 0	0	0	0	$ 0	0
Issuance of restricted common stock for services (in shares)	90,000				0
Forfeiture of restricted common stock	$ 0	0	0	0	$ 0	0
Forfeiture of restricted common stock (in shares)	(78,000)				12,000
Forfeiture of founder shares	$ 0	0	0	0	$ 0	0
Forfeiture of founder shares (in shares)	(442,000)				442,000
Accretion of preferred stock dividends						0
Stock-based compensation	$ 0	456	0	0	$ 0	456
Foreign currency translation	0	0	0	590	0	590
Net loss	0	0	(12,349)	0	0	(12,349)
Balance at Jun. 30, 2014	$ 13	87,394	(41,683)	900	$ 0	46,624
Balance (in shares) at Jun. 30, 2014	13,271,000				454,000
Balance at Dec. 31, 2014	$ 14	87,706	(50,534)	(729)	$ 0	$ 36,457
Balance (in shares) at Dec. 31, 2014	13,335,000				390,000	13,335,258
Issuance of restricted common stock for services	$ 0	0	0	0	$ 0	$ 0
Issuance of restricted common stock for services (in shares)	15,000				(15,000)
Forfeiture of restricted common stock	$ 0	0	0	0	$ 0	0
Forfeiture of restricted common stock (in shares)	(34,000)				34,000
Forfeiture of founder shares	$ (1)	1	0	0	$ 0	0
Forfeiture of founder shares (in shares)	(437,000)				437,000
Accretion of preferred stock dividends	$ 0	(459)	0	0	$ 0	(459)
Stock-based compensation	0	154	0	0	0	154
Foreign currency translation	0	0	0	643	0	643
Net loss	0	0	(11,176)	0	0	(11,176)
Balance at Jun. 30, 2015	$ 13	$ 87,402	$ (61,710)	$ (86)	$ 0	$ 25,619
Balance (in shares) at Jun. 30, 2015	12,879,000				846,000	12,879,433

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (11,176)	$ (12,349)
Adjustments to reconcile net loss to net cash used in operating activities:
Equity earnings of affiliate	(688)	(1,350)
Content amortization and royalties	23,679	26,068
Depreciation and amortization	2,375	2,957
Foreign currency exchange (gain) loss	282	(523)
Fair value adjustment of stock warrant and other derivative liabilities	(7,637)	678
Non-cash interest expense	2,035	1,842
Stock-based compensation expense	154	456
Changes in assets and liabilities:
Accounts receivable, net	7,255	9,516
Inventories, net	647	2,456
Investments in content, net	(18,052)	(26,151)
Prepaid expenses and other assets	(720)	(15)
Accounts payable and accrued liabilities	(7,844)	(10,318)
Deferred revenue	(991)	(1,094)
Net cash used in operating activities	(10,681)	(7,827)
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures	(878)	(1,141)
Dividends received from affiliate	1,729	2,947
Net cash provided by investing activities	851	1,806
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of preferred stock and warrants	22,500	0
Repayment of senior debt	(11,225)	(7,750)
Proceeds from production loan	0	9,392
Payment of preferred stock and warrant issuance costs	(744)	0
Payment of senior debt modification costs	(450)	0
Net cash provided by financing activities	10,081	1,642
Effect of exchange rate changes on cash	319	79
NET INCREASE (DECREASE) IN CASH:	570	(4,300)
Cash at beginning of period	6,662	7,674
Cash at end of period	$ 7,232	$ 3,374

DESCRIPTION OF BUSINESS AND BAS

DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION	6 Months Ended
	Jun. 30, 2015
DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION [Abstract]
DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION	NOTE 1. DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION Description of Business RLJ Entertainment, Inc. (or RLJE U.K. Image Acorn Media Business Combination RLJE U.K. RLJE Australia RLJE Ltd. ACL We acquire content rights in various categories including, British mysteries and dramas, urban programming, and full-length independent motion pictures. We acquire this content in two ways: ● Through long-term exclusive licensing agreements where we secure multiple rights to third-party programs, and; ● Through development, production, and ownership of original drama television programming through our wholly-owned subsidiary, RLJE Ltd., and our majority-owned subsidiary, ACL, as well as fitness programs through our Acacia brand. We market our products through a multi-channel strategy encompassing (1) the licensing of original drama and mystery content managed and developed through our wholly-owned subsidiary, RLJE Ltd., and our majority-owned subsidiary, ACL, (our Intellectual Property, or IP, Licensing segment Wholesale segment SVOD Direct-to-Consumer segment Our wholesale partners are broadcasters, digital outlets and major retailers in the United States of America (or U.S. Our Direct-to-Consumer segment includes the sale of video content and complementary merchandise directly to consumers through proprietary ecommerce websites, and catalogs and the continued roll-out of our proprietary subscription-based SVOD channels, such as Acorn TV, Acacia TV and UMC (or Urban Movie Channel RLJE’s management views our operations based on these three distinctive reporting segments: (1) IP Licensing, (2) Wholesale and (3) Direct-to-Consumer. Operations and net assets that are not associated with any of these stated segments are reported as “Corporate” when disclosing and discussing segment information. The IP Licensing segment includes intellectual property rights that we own or create and then sublicense for exploitation worldwide. Our Wholesale and Direct-to-Consumer segments consist of the acquisition, content enhancement and worldwide exploitation of exclusive content in various formats, including broadcast (which includes cable and satellite), DVD, Blu-ray, digital, video-on-demand (or VOD Basis of Presentation Unaudited Interim Financial Statements The financial information presented in the accompanying unaudited interim consolidated financial statements as of June 30, 2015 and for the three and six months ended June 30, 2015 and 2014 has been prepared in accordance with accounting principles generally accepted in the United States (or U.S. GAAP SEC Form 10-Q In management’s opinion, all adjustments, consisting of normal recurring accruals, considered necessary for a fair presentation have been included. Due to the seasonal nature of our business, with a disproportionate amount of sales occurring in the fourth quarter and other factors, including our content release schedule, interim results are not necessarily indicative of the results that may be expected for the entire fiscal year. The accompanying unaudited financial information should, therefore, be read in conjunction with the consolidated financial statements and the notes thereto in our Annual Report on Form 10-K filed on May 8, 2015 (or 2014 Form 10-K) Summary of Significant Accounting Policies, Fair Value of Financial Instruments The carrying amount of our financial instruments, which principally include cash, trade receivables, accounts payable and accrued expenses, approximates fair value due to the relative short maturity of such instruments. The carrying amount of our debt under our senior credit agreement approximates fair value as the debt bears market rates of interest. The carrying amount of our subordinated debt is approximately $1.8 million more than its fair value as a result of its reduced interest rate from 12.0% to 1.5% for two years beginning January 1, 2015. The fair value of subordinated debt was determined by discounting future interest and principal payments by an estimated market rate of interest of 12.0%. This fair value assessment of our subordinated debt is a level 3 measurement as provided by Accounting Standards Codification (or ASC Fair Value Measurements and Disclosures. Accounting and Reporting Pronouncements Issued On April 7, 2015 the Financial Accounting Standards Board (or FASB ASU Interest – Imputation of Interest Update are On April 12, 2015, the FASB deferred the effective date of ASU 2014-09, Revenues from Contracts with Customers Reclassifications and Adjustment Certain amounts reported previously in our consolidated financial statements have been reclassified or adjusted to be comparable with the classifications used for our 2015 consolidated financial statements. We are now reporting our cost of sales in two components, which are (a) content amortization and royalties and (b) manufacturing and fulfillment. We are now reporting the change in the fair value of our stock warrant and other derivative liabilities as a separate line item within our statement of operations. Principles of Consolidation The investment in ACL is accounted for using the equity method of accounting given the voting control of the board of directors by the minority shareholder. As such, we have included our share of ACL’s operating results as a separate line item in our consolidated financial statements. Our consolidated financial statements include the accounts of all majority-owned subsidiary companies, except for ACL. We carry the investment in ACL as a separate asset on our consolidated balance sheet at cost adjusted for our share of the equity in undistributed earnings. Except for dividends and changes in ownership interest, we report changes in equity in undistributed earnings of ACL in our consolidated statements of operations. All intercompany transactions and balances have been eliminated. Liquidity For the six months ended June 30, 2015 and 2014, we recognized a net loss of $11.2 million and $12.3 million, respectively. During the six months ended June 30, 2015 and 2014, we used cash in operating activities of $10.7 million and $7.8 million, respectively. At June 30, 2015, our cash balance was $7.2 million. At June 30, 2015, we had $62.5 million of term debt outstanding (see Note 7, Debt Goodwill Goodwill is the second largest asset on our balance sheet of which $43.0 million is recorded in our Wholesale reportable segment and $1.9 million is recorded in our Direct-to-Consumer reportable segment. We assess goodwill for impairment every year in the fourth quarter and when events and circumstances indicate that goodwill may be impaired. During the quarter ended June 30, 2015, our common stock price decreased 73% from $1.46 to $0.39 per share. The decrease is largely due to the issuance of our preferred stock during the quarter, which represents 71% of our outstanding equity securities computed on a fully-diluted basis. We considered the decrease in our common stock price to be an indicator that our goodwill may be impaired and as of June 30, 2015, management updated its prior year goodwill impairment testing, which is to compare the fair value of our reporting units that have goodwill to the reporting unit’s carrying value. When computing fair value of the reporting units, management used a discounted cash flow approach and discounted the future cash flows of its reporting units. Significant assumptions incorporated in the valuation were the reporting unit’s future cash flows and appropriate discount rates (primarily ranging from 18% to 21% ). When doing this fair-value assessment, we also considered our market capitalization at June 30, 2015 comparing it to the combined fair values of our reporting units. Significant assumptions that were incorporated in this market capitalization analysis were the fair values of our debt and preferred stock, as well as appropriate discounts for a minority interest position, limited trading volume and the effects of the issued and outstanding warrants have on our common stock price. The results of our current testing indicate is approximately 4%. 18 Because our analysis and valuation is a level 3 valuation within the valuation hierarchy, which incorporates inputs that are inherently judgmental in nature, when performing our annual assessment in the fourth quarter approximately 4

SEGMENT INFORMATION

SEGMENT INFORMATION	6 Months Ended
	Jun. 30, 2015
SEGMENT INFORMATION [Abstract]
SEGMENT INFORMATION	NOTE 2. SEGMENT INFORMATION In accordance with the requirements of the ASC 280 “ Segment Reporting, content Management currently evaluates segment performance based primarily on revenues and operating income (loss), including earnings from ACL. Operating costs and expenses attributable to our Corporate segment include only those expenses incurred by us at the parent corporate level, which are not allocated to our reporting segments and include costs associated with RLJE’s corporate functions such as finance and accounting, human resources, legal and information technology departments. Interest expense, change in the fair value of stock warrants and other derivatives The following tables summarize the segment contribution for the three-month periods ended June 30, 2015 and 2014: (In thousands) Three Months Ended June 30, 2015 IP Licensing Wholesale Direct-to- Consumer Corporate Total Revenues $ — $ 17,793 $ 6,320 $ — $ 24,113 Operating costs and expenses (66 ) (17,977 ) (7,802 ) (2,498 ) (28,343 ) Depreciation and amortization (32 ) (355 ) (687 ) (136 ) (1,210 ) Share in ACL earnings 438 — — — 438 Segment contribution (loss) $ 340 $ (539 ) $ (2,169 ) $ (2,634 ) $ (5,002 ) (In thousands) Three Months Ended June 30, 2014 IP Licensing Wholesale Direct-to- Consumer Corporate Total Revenues $ — $ 23,424 $ 8,659 $ — $ 32,083 Operating costs and expenses (327 ) (19,278 ) (10,489 ) (2,998 ) (33,092 ) Depreciation and amortization (30 ) (126 ) (994 ) (284 ) (1,434 ) Share in ACL earnings 1,045 — — — 1,045 Segment contribution (loss) $ 688 $ 4,020 $ (2,824 ) $ (3,282 ) $ (1,398 ) The Wholesale revenues for the three months ended June 30, 2014 includes $852,000 of revenue that resulted from the correction of an immaterial error in our marketing development fund liability estimate at March 31, 2014. The following tables summarize the segment contribution for the six-month periods ended June 30, 2015 and 2014: (In thousands) Six Months Ended June 30, 2015 IP Licensing Wholesale Direct-to- Consumer Corporate Total Revenues $ 458 $ 35,780 $ 13,991 $ — $ 50,229 Operating costs and expenses (553 ) (37,479 ) (17,077 ) (5,525 ) (60,634 ) Depreciation and amortization (61 ) (723 ) (1,357 ) (234 ) (2,375 ) Share in ACL earnings 688 — — — 688 Segment contribution (loss) $ 532 $ (2,422 ) $ (4,443 ) $ (5,759 ) $ (12,092 ) (In thousands) Six Months Ended June 30, 2014 IP Licensing Wholesale Direct-to- Consumer Corporate Total Revenues $ 13 $ 44,774 $ 17,568 $ — $ 62,355 Operating costs and expenses (510 ) (41,461 ) (19,865 ) (6,378 ) (68,214 ) Depreciation and amortization (55 ) (791 ) (1,784 ) (327 ) (2,957 ) Share in ACL earnings 1,350 — — — 1,350 Segment contribution (loss) $ 798 $ 2,522 $ (4,081 ) $ (6,705 ) $ (7,466 ) Included in our Wholesale segment contribution for the six months ended June 30, 2014 is a loss of $3.1 million incurred during the sell-off period under a feature film output deal that was recognized in the first quarter of 2014. A reconciliation of total segment contribution (loss) to loss before provision for income taxes is as follows: (In thousands) Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 Total segment contribution (loss) $ (5,002 ) $ (1,398 ) $ (12,092 ) $ (7,466 ) Interest expense, net (2,581 ) (1,985 ) (5,524 ) (4,003 ) Change in fair value of stock warrants and other derivatives 7,140 1,122 7,637 (678 ) Other income (expense) 161 363 (615 ) 486 Loss before provision for income taxes $ (282 ) $ (1,898 ) $ (10,594 ) $ (11,661 ) Total assets for each segment primarily include accounts receivable, inventory and investments in content. The Corporate segment primarily includes assets not fully allocated to any other segment including consolidated cash accounts, certain prepaid assets and fixed assets used across all segments. Total assets by segment are as follows: (In thousands) June 30, December 31, IP Licensing $ 26,367 $ 30,197 Wholesale 131,013 140,935 Direct-to-Consumer 12,353 12,049 Corporate 8,682 8,873 $ 178,415 $ 192,054

EQUITY EARNINGS IN AFFILIATE

EQUITY EARNINGS IN AFFILIATE	6 Months Ended
	Jun. 30, 2015
EQUITY EARNINGS IN AFFILIATE [Abstract]
EQUITY EARNINGS IN AFFILIATE	NOTE 3. EQUITY EARNINGS OF AFFILIATE In February 2012, Acorn Media acquired a 64% interest in ACL for total purchase consideration of £13.7 million, or approximately $21.9 million, excluding direct transaction costs. The acquisition gave Acorn Media a majority ownership of ACL’s extensive works including a variety of short story collections, more than 80 novels, 19 plays and a film library of over 100 made-for-television films. We account for our investment in ACL using the equity method of accounting because (1) Acorn Media is only entitled to appoint one-half of ACL’s board members and (2) in the event the board is deadlocked, the chairman of the board, who is appointed by the directors elected by the minority shareholders, casts a deciding vote. As of the Business Combination, our 64% share of the difference between ACL’s fair value and the amount of underlying equity in ACL’s net assets was approximately $18.7 million. This basis difference is primarily attributable to the fair value of ACL’s copyrights, which expire in 2046, and is being amortized through 2046 using the straight-line method. Basis difference amortization is recorded against our share of ACL’s net income in our consolidated statements of operations; however this amortization is not included within ACL’s financial statements. The following summarized financial information is derived from the unaudited financial statements of ACL: (In thousands) Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 Revenues $ 2,551 $ 4,353 $ 4,639 $ 6,750 Film cost amortization (379 ) (1,261 ) (896 ) (1,901 ) General, administrative and other expenses (1,048 ) (759 ) (1,840 ) (1,623 ) Income from operations $ 1,124 $ 2,333 $ 1,903 $ 3,226 Net income $ 903 $ 1,867 $ 1,505 $ 2,564 ACL's functional currency is the British Pound Sterling (GBP). Amounts have been translated from GBP to U.S. dollar using the average exchange rate for the periods presented. The above operating results of ACL exclude basis difference amortization resulting from the Business Combination.

ACCOUNTS RECEIVABLE

ACCOUNTS RECEIVABLE	6 Months Ended
	Jun. 30, 2015
ACCOUNTS RECEIVABLE [Abstract]
ACCOUNTS RECEIVABLE	NOTE 4. ACCOUNTS RECEIVABLE Accounts receivable are primarily derived from: (1) the sale of physical content (DVDs) to retailers and wholesale distributors who ship to mass retailers, (2) direct-to-consumer, ecommerce, catalog and download-to-own sales and (3) video content we license to broadcast, cable/satellite providers and digital subscription platforms such as (In thousands) June 30, December 31, Wholesale $ 15,303 $ 23,922 IP Licensing — 608 Direct-to-Consumer 705 762 Accounts receivable before allowances and reserves 16,008 25,292 Less: reserve for returns (5,891 ) (7,870 ) Less: allowance for doubtful accounts (42 ) (33 ) Accounts receivable, net $ 10,075 $ 17,389 Wholesale receivables are primarily billed and collected by our U.S. distribution facilitation partner. Each month, our distribution partner preliminarily settles our wholesale receivables assuming a timing lag on collections and an average-return rate. When actual returns differ from the amounts previously assumed, adjustments are made that give rise to payables and receivables between us and our distribution partners. Amounts vary and tend to be seasonal following our sales activity. As of June 30, 2015 and December 31, 2014, we owed our distribution partners $5.5 million and $3.1 million, respectively, for receivables settled as of period-end. The wholesale receivables are reported net of amounts we owe to our distribution partner as these amounts are offset against each other when settling receivables in accordance with the contract. As of June 30, 2015 and December 31, 2014, the net wholesale receivables with our distribution partner were $645,000 and $6.6 million, respectively, which is included in accounts receivable. Our Direct-to-Consumer receivable represents amounts due to us from our merchant bank related to our credit card transactions processed as of period end.

INVENTORIES

INVENTORIES	6 Months Ended
	Jun. 30, 2015
INVENTORIES [Abstract]
INVENTORIES	NOTE 5. INVENTORIES Inventories are summarized as follows: (In thousands) June 30, December 31, Packaged discs $ 9,240 $ 9,580 Packaging materials 923 1,309 Other merchandise (1) 2,219 2,140 Inventories, net $ 12,382 $ 13,029

INVESTMENTS IN CONTENT

INVESTMENTS IN CONTENT	6 Months Ended
	Jun. 30, 2015
INVESTMENTS IN CONTENT [Abstract]
INVESTMENTS IN CONTENT	NOTE 6. INVESTMENTS IN CONTENT (In thousands) June 30, December 31, Released $ 52,524 $ 57,766 Completed, not released 6,555 7,205 In-production 3,757 2,554 Investments in content, net $ 62,836 $ 67,525 Investments in content are stated at the lower of unamortized cost or estimated fair value. The valuation of investments in content is reviewed on a title-by-title basis when an event or change in circumstances indicates that the fair value of content is less than its unamortized cost. For the three months ended June 30, 2015 and 2014, impairment charges were $1.7 million and $204,000, respectively. For the six months ended June 30, 2015 and 2014, impairment charges were $2.3 million and $1.3 million, respectively. These charges are included in the cost of sales as content amortization and royalties. In determining the fair value of content for impairments (Note 10, Fair Value Measurements DCF

DEBT

DEBT	6 Months Ended
	Jun. 30, 2015
DEBT [Abstract]
DEBT	NOTE 7. DEBT Debt consists of the following: (In thousands) Maturity Interest June 30, December 31, Senior term notes September 11, 2019 LIBOR + 10.64% $ 58,163 $ 69,388 Less: debt discount (4,184 ) (4,509 ) Total senior-term notes, net of discount 53,979 64,879 Subordinated notes payable to prior Image shareholders October 3, 2018 1.5% through 2016 then 12% 8,546 16,034 Total debt $ 62,525 $ 80,913 Future minimum principal payments of our debt as of June 30, 2015 are as follows: (In thousands) Senior Notes Subordinated Total 2015 $ 1,225 $ — $ 1,225 2016 2,975 — 2,975 2017 4,375 — 4,375 2018 49,588 8,546 58,134 $ 58,163 $ 8,546 $ 66,709 The subordinated notes mature in 2018 and the senior notes mature in 2019; however, if we do not subsequently extend the subordinated debt maturity, then the new senior notes’ maturity would accelerate in conjunction with the repayment of the subordinated notes in 2018. The above table reflects the assumption that no extension of the subordinated notes occurs. The senior notes’ minimum principal payments in 2018 would be $5.3 million if the senior notes’ maturity is not accelerated. Senior Term Notes On September 11, 2014, we entered into a $70.0 million Credit and Guaranty Agreement (the Credit Agreement Under the Credit Agreement, interest and principal is payable quarterly with principal payments beginning on December 31, 2014. Beginning in 2016, we are obligated to make certain accelerated principal payments annually which are contingent upon: (1) the occurrence of consolidated excess cash flows, as defined in the Credit Agreement, and (2) only to the extent at which such excess cash flows are above our minimum cash threshold of $12.0 million. We are permitted to make additional voluntary principal payments under the Credit Agreement, but prepayments are subject to an applicable prepayment premium of: (a) 5% if prepaid during the first year, (b) 3% if prepaid during the second year, and (c) 1.5% if prepaid during the third year. The first $5.0 million of voluntary prepayment is not subject to any prepayment premium. On April 15, 2015, we entered into an agreement with the lenders to amend the Credit Agreement. The principal terms of the amendment are as follows: (a) a reduction of the Minimum Cash Balance (as defined in the Credit Agreement) that we are required to maintain from $3.5 million to $1.0 million, thus providing access to $2.5 million of cash previously restricted, (b) a waiver of certain Defaults (as defined in the Credit Agreement) and Events of Default (as defined in the Credit Agreement) caused by, or that would be caused by the breach of certain financial covenants under the Credit Agreement; (c) amendments of the Credit Agreement (i) modifying the interest rate to equal LIBOR plus 10.64%, (ii) modifying certain financial statement and other reporting and lender communication requirements, (iii) increasing the covenant ratio thresholds for March 31 and June 30, 2015; and (d) the consent of the lenders to the issuance of the preferred stock and warrants, as well as the use of the proceeds from the issuance of the preferred stock and warrants (i) to pay $10.0 million of the amounts outstanding pursuant to the Credit Agreement, (ii) to pay certain fees and costs associated with the issuance of the preferred stock, and (iii) for working capital purposes. The Credit Agreement, as amended, contains certain financial and non-financial covenants beginning on December 31, 2014. Financial covenants are assessed quarterly and are based on Adjusted EBITDA, as defined in the Credit Agreement. Financial covenants vary each quarter and generally become more restrictive over time. Financial covenants, as amended, include the following: December 31, 2014 June 30, 2015 Remainder of 2015 2016 Thereafter Leverage Ratios: Senior debt-to-Adjusted EBITDA 4.64 : 1.00 6.92 : 1.00 Ranges from 4.47 : 1.00 to 4.03 : 1.00 Ranges from 3.83 : 1:00 to 2:67 : 1.00 2.67 : 1.00 Total debt-to-Adjusted EBITDA 5.71 : 1.00 8.95 : 1.00 Ranges from 5.56 : 1.00 to 5.06 : 1.00 Ranges from 4.82 : 1:00 to 3.44 : 1.00 3.44 : 1.00 Fixed charge coverage ratio 1.10 : 1.00 0.63 : 1.00 Ranges from 1.13 : 1.00 to 1.20 : 1.00 Ranges from 1.24 : 1.00 to 1.59 : 1.00 1.59 : 1.00 We are also obligated to maintain a minimum valuation ratio computed on the outstanding principal balance of our senior debt compared to the sum of our valuations of our content library and our investment in ACL. To the extent the valuation ratio exceeds the allowed threshold; we are obligated to make an additional principal payment such that the threshold would not be exceeded after giving effect to this payment. The valuation threshold is 83% as long as the unpaid principal balance exceeds $65.0 million and 75% thereafter. The Credit Agreement contains events of default that include, among others, non-payment of principal, interest or fees, violation of covenants, inaccuracy of representations and warranties, bankruptcy and insolvency events, material judgments, cross defaults to certain other contracts (including, for example, business arrangements with our U.S. distribution facilitation partner and other material contracts) and indebtedness and events constituting a change of control or a material adverse effect in any of our results of operations or conditions (financial or otherwise). The occurrence of an event of default will increase the applicable rate of interest and could result in the acceleration of our obligations under the Credit Agreement. The Credit Agreement imposes restrictions on such items as encumbrances and liens, payments of dividends, other indebtedness, stock repurchases, capital expenditures and entering into new lease obligations. Additional covenants restrict our ability to make certain investments, such as loans and equity investments, or investments in content that are not in the ordinary course of business. Pursuant to the amended Credit Agreement, we must maintain at all times a cash balance of $1.0 million. As of June 30, 2015, we were in compliance with all covenants as stipulated in the amended Credit Agreement. Subordinated Notes Payable In October 2012, we issued unsecured subordinated promissory notes in the aggregate principal amount of $14.8 million to the selling preferred stockholders of Image (or Subordinated Note Holders promissory promissory On April 15, 2015, we entered into an agreement to amend the subordinated promissory notes (the Note Amendment (a) an agreement by the Subordinated Note Holders to convert 50% of the outstanding balance under the subordinated notes into shares of preferred stock and warrants; (b) amendments to the subordinated notes (i) changing the interest rate payable from 12% to 1.5% per annum for the 24-month period commencing on January 1, 2015, and then 12% per annum thereafter; and (ii) specifying that 45% of the interest due will be payable in cash and the remainder of the accrued interest will be payable in the form of additional subordinated notes; and (c) a waiver of any existing defaults and events of default. We are providing interest expense on our subordinated notes payable using the effective interest rate method at an annual interest rate of approximately 5 percent. In connection with the sale of preferred stock and warrants, the Subordinated Note Holders exchanged approximately $8.5 million of subordinated notes for 8,546 shares of preferred stock and 2,563,873 warrants (see Note 9, Stock Warrants

MANDATORILY REDEEMABLE CONVERTI

MANDATORILY REDEEMABLE CONVERTIBLE PREFERRED STOCK AND EQUITY	6 Months Ended
	Jun. 30, 2015
MANDATORILY REDEEMABLE CONVERTIBLE PREFERRED STOCK AND EQUITY [Abstract]
MANDATORILY REDEEMABLE CONVERTIBLE PREFERRED STOCK AND EQUITY	NOTE 8. MANDATORILY REDEEMABLE CONVERTIBLE PREFERRED STOCK AND EQUITY Mandatorily Redeemable Convertible Preferred Stock On May 20, 2015, we closed a transaction in which we sold 31,046 shares of preferred stock and warrants to acquire 9,313,873 shares of common stock for $22.5 million in cash and the exchange of $8.5 million in subordinated notes. Of the preferred shares and warrants sold, 16,500 shares of preferred stock and warrants to acquire 4,950,000 shares of common stock were sold to certain board members or their affiliated companies. We used $10.0 million of the cash proceeds from this sale to make partial payment on our Credit Agreement and approximately $1.8 million for prepayment penalties, legal and accounting fees, which include fees associated with our registration statement filed in July 2015 The preferred stock has the following rights and preferences: ● Rank ● Dividends ● Conversion ● Mandatory Redemption ● Voting Dividends are recognized using the effective interest-rate method and are recorded against additional paid-in capital. During the three months ended June 30, 2015, we accreted $459,000 of dividends. Because the conversion rate is contingent upon our common stock price at the time of redemption, we cannot conclude that we have enough authorized, unissued shares of common stock to settle the mandatory redemption with shares of equity. Therefore we have recorded the preferred stock separate from our permanent equity. Also, because of the potential adjustments to the conversion rate, including adjustments for offerings consummated at a per-share price of less than $1.00 per common share, we have bifurcated the conversion feature from its host instrument (a preferred share) and we Contracts in Entity’s Own Equity In connection with the sale, the holders of the preferred stock appointed two board members temporarily increasing the board to 11 members. On June 4, 2015, four board members resigned thus reducing the board size to seven members, which we committed to when issuing the preferred stock. The warrants issued with the preferred stock have a term of five years and an exercise price of $1.50 per share. The exercise price is subject to standard anti-dilution protection including adjustments for offerings consummated at a per-share price of less than $1.50 per common share. Additionally, if we were to consummate certain fundamental transactions, such as a business combination or other change-in-control transactions, the warrant holders may require, under certain conditions, that we repurchase the warrants with cash equal to the warrants’ then fair value as determined using the Black Scholes valuation model. On July 9, 2015, we filed a registration statement with the Securities and Exchange Commission to register 2015 the on Common Stock Included in our common shares outstanding at December 31, 2014 were 437,241 shares held by certain founding shareholders as part of the initial public offering of RLJE. These shares were subject to forfeiture over a two-year period if certain stock price targets were not achieved. All shares were forfeited and returned in January 2015. Restricted Stock-Based Compensation Grants Compensation expense relating to our restricted stock awards for the three months ended June 30, 2015 and 2014 was $(40,000) and $421,000, respectively, and for the six months ended June 30, 2015 and 2014 stock-based compensation was $154,000 and $456,000, respectively. Compensation expense related to restricted stock awards is included in general and administrative expenses. On June 30, 2015, we allowed 57,224 shares of common stock to vest that were granted to those board members who resigned on June 4, 2015 (see Mandatorily Redeemable Convertible Preferred Stock ) During the six months ended June 30, 2015, 15,136 shares of restricted stock were granted to a director, 104,885 shares were vested and 33,271 shares of restricted stock were forfeited. The shares granted during 2015 were fair valued, on the date of grant, using our publicly traded stock price of $0.76 per share. Of the shares forfeited, 28,633 shares of restricted stock were forfeited based upon the failure to achieve the 2014 performance criteria and the remainder of the forfeitures were due to employee terminations. During the six months ended June 30, 2014, 90,138 shares of restricted stock were granted, 61,202 shares were vested and 78,470 shares were forfeited. Of the 90,138 shares granted in 2014, 64,638 shares were granted to executive officers and directors and 25,500 shares were granted to other members of management. Of the 78,470 shares forfeited, 66,244 shares of restricted stock were forfeited based upon the failure to achieve the 2013 performance criteria and the remainder of the forfeitures were due to employee terminations. The shares granted during 2014 were fair valued on the date of grant with a range of $4.60 - $5.01 per share, for a total value of approximately $417,000. A summary of the activity since December 31, 2014 is as follows: (In thousands, except per share data) Service Shares Performance Shares Restricted Stock-Based Compensation Award Activity Shares Weighted- Average Grant Date Fair Value Shares Weighted- Average Grant Date Fair Value Nonvested shares at December 31, 2014 179 $ 4.13 56 $ 5.09 Granted 15 $ 0.76 — $ — Vested (105 ) $ 4.13 — $ — Forfeited (3 ) $ 5.79 (31 ) $ 5.16 Nonvested shares at June 30, 2015 86 $ 3.49 25 $ 5.05 The performance shares vest if certain performance criteria are achieved contingent upon the grantees being employed by RLJE when the performance criteria are evaluated. Vesting for the outstanding restricted performance shares is contingent upon achieving 2015 targets. As of June 30, 2015, there is $98,000 of unamortized compensation that will vest solely on completion of future services over the next 11 months, with a weighted-average remaining vesting period of seven months. As of June 30, 2015, there is $73,000 of unamortized compensation that will vest based on achieving certain performance and service criteria over the next 11 months, with a weighted-average remaining vesting period of eight months.

STOCK WARRANTS

STOCK WARRANTS	6 Months Ended
	Jun. 30, 2015
STOCK WARRANTS [Abstract]
STOCK WARRANTS	NOTE 9. STOCK WARRANTS RLJE had the following warrants outstanding: June 30, 2015 (In thousands, except per share data) Shares Exercise Price Remaining Life 2012 Warrants: Registered warrants 15,375 $ 12.00 2.25 years Sponsor warrants 3,817 $ 12.00 2.25 years Unregistered warrants 1,850 $ 12.00 2.25 years 2015 Warrants: Unregistered warrants 9,314 $ 1.50 4.88 years 30,356 We issued warrants with a term of five years beginning October 3, 2012 that provide the warrant holder the right to acquire a share of our common stock for $12.00 per share (the 2012 Warrants The 2012 Warrants contain a provision whereby the exercise price will be reduced if RLJE reorganized as a private company. The reduction in exercise price depends upon the amount of other consideration, if any, received by the warrant holders in the reorganization and how many years after the Business Combination reorganization is consummated. Generally, the reduction in exercise price would be between $6.00 and $9.00 assuming no additional consideration was received. Because of this provision, all warrants are being accounted for as a derivative liability in accordance with ASC 815-40, Contracts in Entity’s Own Equity On May 20, 2015, we issued warrants to acquire 9.3 million shares of our common stock (the 2015 Warrants Convertible Preferred Stock and Equity

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	6 Months Ended
	Jun. 30, 2015
FAIR VALUE MEASUREMENTS [Abstract]
FAIR VALUE MEASUREMENTS	NOTE 10. FAIR VALUE MEASUREMENTS Stock Warrant and Other Derivative Liabilities We have warrants outstanding to purchase 30,355,540 shares of our common stock, which are recorded at fair value on the consolidated balance sheets. We issued the 2012 Warrants to purchase 21,041,667 shares of our common stock in 2012 and we issued the 2015 Warrants to purchase 9,313,873 shares of our common stock in 2015. Of the 2012 Warrants, 15,375,000 are warrant shares that are registered and are available for trading on the over-the-counter market. Since the first quarter of 2014, there has been a lack of trading activity for the registered warrants, and as such, when assessing their fair value we transferred them from Level 1 to Level 3 within the fair-value hierarchy. As of June 30, 2015 and December 31, 2014, we determined the fair value of the registered warrants using a Monte Carlo simulation model. Inputs to the model are stock volatility, contractual warrant terms (which are remaining life of the warrant, the redemption feature, the exercise price, and assumptions for the reduction in exercise price if we were to reorganize as a private company), the risk-free interest rate, and a discount for the lack of marketability (DLOM) pertaining to the underlying common stock as the shares acquirable are not registered. We use the closing market price of our common stock to compute stock volatility. The DLOM is determined using the Finnerty Average-Strike Put Option Marketability Discount Model (Finnerty Model), which takes into consideration the discount period, stock dividend rates, and stock volatility. We used a DLOM rate of 13.3% as of June 30, 2015 and 11.2% as of December 31, 2014. Assumptions regarding adjustments to the exercise price are based on management’s best estimates of the likelihood of reorganizing as a private company and the amount of the resulting exercise-price adjustment. The remaining 2012 Warrants, consisting of Sponsor warrants of 3,816,667 and unregistered warrants of 1,850,000 are classified as Level 3 within the fair-value hierarchy. Because RLJE has agreed not to exercise its redemption right pertaining to certain warrants held by RLJ SPAC Acquisition LLC (or the Sponsor The unregistered 2012 Warrants differ from the registered warrants in that they have not been registered. As of June 30, 2015 and December 31, 2014, we determined the fair value of these warrants by taking the fair value of a registered warrant and discounting it using the Finnerty Model for the lack of marketability as these warrants are not registered. We used a DLOM rate of 18.2% as of June 30, 2015 and 17.8% as of December 31, 2014. The 2012 Warrants decreased in fair value from $601,000 as of December 31, 2014 to zero as of June 30, 2015. We are using the Black Scholes option valuation model to value the 2015 Warrants, which is classified as Level 3 within the fair-value hierarchy. Inputs to the model are stock volatility, contractual warrant terms (which are remaining life of the warrant and the exercise price) and the risk-free interest rate. We use the closing market price of our common stock to compute stock volatility. The 2015 Warrants decreased in fair value during the current quarter from $2.1 million as of May 20, 2015 (issuance) to $783,000 as of June 30, 2015. We are using the Black Scholes option valuation model to value the preferred stock’s embedded conversion feature, which is classified as Level 3 within the fair-value hierarchy. Inputs to the model are stock volatility, contractual terms (which are remaining life of the conversion option and the conversion rate) and the risk-free interest rate. We use the closing market price of our common stock to compute stock volatility. The fair value of the embedded conversion feature decreased during the current quarter from $9.4 million as of May 20, 2015 (issuance) to $3.6 million as of June 30, 2015. The following tables represent the valuation of our warrant and other derivative liabilities within the fair-value hierarchy: (In thousands) June 30, 2015 Level 1 Level 2 Level 3 Total Stock warrant and other derivative liabilities $ — $ — $ 4,414 $ 4,414 (In thousands) December 31, 2014 Level 1 Level 2 Level 3 Total Stock warrant and other derivative liabilities $ — $ — $ 601 $ 601 The following tables include a roll-forward of liabilities classified within Level 1 and Level 3: (In thousands) Six Months Ended June 30, 2015 Level 1 Level 2 Level 3 Total Stock warrant and other derivative liabilities at December 31, 2014 $ — $ — $ 601 $ 601 Issuance of warrants and other derivatives — — 11,450 11,450 Change in fair value — — (7,637 ) (7,637 ) Stock warrant and other derivative liabilities at June 30, 2015 $ — $ — $ 4,414 $ 4,414 (In thousands) Six Months Ended June 30, 2014 Level 1 Level 2 Level 3 Total Stock warrant and other derivative liabilities at December 31, 2013 $ 2,630 $ — $ 1,493 $ 4,123 Change in fair value hierarchy (2,755 ) — 2,755 — Change in fair value 125 — 553 678 Stock warrant and other derivative liabilities at June 30, 2014 $ — $ — $ 4,801 $ 4,801 Investments in Content When events and circumstances indicate that investments in content are impaired, we determine the fair value of the investment; and if the fair value is less than the carrying amount, we recognize additional amortization expense equal to the excess. Our nonrecurring fair value measurement of assets and liabilities is classified in the tables below: (In thousands) Six Months Ended June 30, 2015 Level 1 Level 2 Level 3 Total Loss Investments in content $ — $ — $ 2,855 $ 2,855 $ 2,269 (In thousands) Six Months Ended June 30, 2014 Level 1 Level 2 Level 3 Total Loss Investments in content $ — $ — $ 9,649 $ 9,649 $ 1,323 During the six months ended June 30, 2015 and 2014, the investments in content were written down by $2.3 million and $1.3 million, respectively. In determining the fair value, we employ a DCF methodology. Key inputs employed in the DCF methodology include estimates of a film's ultimate revenue and costs as well as a discount rate. The discount rate utilized in the DCF analysis is based on our weighted average cost of capital plus a risk premium representing the risk associated with producing a particular film or television program. As the primary determination of fair value is determined using a DCF model, the resulting fair value is considered a Level 3 measurement.

NET LOSS PER COMMON SHARE DATA

NET LOSS PER COMMON SHARE DATA	6 Months Ended
	Jun. 30, 2015
NET LOSS PER COMMON SHARE DATA [Abstract]
NET LOSS PER COMMON SHARE DATA	NOTE 11. NET LOSS PER COMMON SHARE DATA We have outstanding warrants to acquire 30,355,540 shares of common stock that are not included in the computation of diluted net loss per common share as the effect would be anti-dilutive because their exercise prices, which range from $1.50 to $12.00 per share exceed the fair value of our common stock. For the six-month period ended June 30, 2015, we had weighted average outstanding shares of approximately 73,000 which were held by founding shareholders that were forfeited in January 2015 and that were not included in the computation of basic or diluted net loss per share as the effect would be anti-dilutive. For the three and six months ended June 30, 2015, we have 198,000 and 207,000 shares, respectively, of compensatory restricted common stock that are not included in the computation of basic and diluted net loss per share as the effect would be anti-dilutive. For the three and six months ended at June 30, 2014, we have weighted average outstanding shares of approximately 985,000 and 1,109,000, respectively, of restricted common stock, which includes 456,407 shares held by certain founding shareholders that are not included in the computation of basic or diluted net loss per share as the effect would be anti-dilutive.

STATEMENTS OF CASH FLOWS

STATEMENTS OF CASH FLOWS	6 Months Ended
	Jun. 30, 2015
STATEMENTS OF CASH FLOWS [Abstract]
STATEMENTS OF CASH FLOWS	NOTE 12. STATEMENTS OF CASH FLOWS Supplemental Disclosures (In thousands) Six Months Ended June 30, 2015 2014 Cash paid during the period for: Interest $ 4,746 $ 3,483 Income taxes $ 47 $ 53 Non-cash investing and financing activities: Subordinated notes payable exchanged for preferred stock and warrants $ 8,546 $ — Accretion of preferred stock dividends $ 459 $ — Preferred stock issuance costs accrued for in accounts payable and accrued liabilities $ 60 $ — Capital expenditures accrued for in accounts payable and accrued liabilities $ 268 $ —

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Jun. 30, 2015
COMMITMENTS AND CONTINGENCIES [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 13. COMMITMENTS AND CONTINGENCIES In the normal course of business, we are subject to proceedings, lawsuits and other claims, including proceedings under government laws and regulations relating to employment and tax matters. While it is not possible to predict the outcome of these matters, the opinion of management is, based on consultations with internal and external legal counsel, that the ultimate disposition of known proceedings will not have a material adverse impact on our financial condition, results of operations or liquidity. Accordingly, we record a charge to earnings based on the probability of settlement and determination of an estimated amount. These charges were not material to our results.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	6 Months Ended
	Jun. 30, 2015
RELATED PARTY TRANSACTIONS [Abstract]
RELATED PARTY TRANSACTIONS	NOTE 14. RELATED PARTY TRANSACTIONS Equity Investment in Affiliate ACL was charged overhead and personnel costs for the three months ended June 30, 2015 and 2014, of approximately $476,000 and $457,000, respectively, and for the six months ended June 30, 2015 and 2014, of approximately $902,000 and $1.1 million, respectively. Amounts were recorded as a reduction in general and administrative expenses in the accompanying consolidated statements of operations. ACL paid dividends to RLJE Ltd of $1.7 million and $1.9 million during the three months ended June 30, 2015 and 2014, respectively, and $1.7 million and $2.9 million for the six months ended June 30, 2015 and 2014, respectively. We record dividends received as a reduction to the ACL investment account. Foreign Currency We recognize foreign currency gains and losses as a component of other expense on net amounts lent by Acorn Media to RLJE Ltd and RLJE Australia. As of June 30, 2015, Acorn Media had lent its U.K. subsidiaries approximately $9.9 million and its Australian subsidiary approximately $4.0 million. Amounts lent will be repaid in U.S. dollars based on available cash. Movement in exchange rates between the U.S. dollar and the functional currencies (which are the British Pound Sterling and the Australian dollar) of those subsidiaries that were lent the monies will result in foreign currency gains and losses. During the three months ended June 30, 2015 and 2014, we recognized a gain of $559,000 and a gain of $367,000, respectively. During the six months ended June 30, 2015 and 2014, we recognized a loss of $282,000 and a gain of $523,000, respectively. The RLJ Companies, LLC On June 27, 2013, The RLJ Companies, LLC (whose sole manager and voting member is the chairman of our board of directors) purchased from one of our vendors $3.5 million of contract obligations that we owed to the vendor. These purchased liabilities, which are now owed to RLJ Companies, LLC, are included in accrued royalties and distribution fees in the accompanying consolidated balance sheets. RLJ SPAC Acquisition, LLC The chairman of our board of directors, Mr. Robert L. Johnson, through his company, RLJ SPAC Acquisition, LLC at the discretion of Lazard Capital Markets LLC in the open market or in privately negotiated transactions in compliance with applicable laws and regulations. Sale of Preferred Stock and Warrants On May 20, 2015, certain board members and their affiliate companies , including RLJ SPAC Acquisition, LLC,

DESCRIPTION OF BUSINESS AND B22

DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION (Policies)	6 Months Ended
	Jun. 30, 2015
DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION [Abstract]
Unaudited Interim Financial Statements	Unaudited Interim Financial Statements The financial information presented in the accompanying unaudited interim consolidated financial statements as of June 30, 2015 and for the three and six months ended June 30, 2015 and 2014 has been prepared in accordance with accounting principles generally accepted in the United States (or U.S. GAAP SEC Form 10-Q In management’s opinion, all adjustments, consisting of normal recurring accruals, considered necessary for a fair presentation have been included. Due to the seasonal nature of our business, with a disproportionate amount of sales occurring in the fourth quarter and other factors, including our content release schedule, interim results are not necessarily indicative of the results that may be expected for the entire fiscal year. The accompanying unaudited financial information should, therefore, be read in conjunction with the consolidated financial statements and the notes thereto in our Annual Report on Form 10-K filed on May 8, 2015 (or 2014 Form 10-K) Summary of Significant Accounting Policies,
Fair Value of Financial Instruments	Fair Value of Financial Instruments The carrying amount of our financial instruments, which principally include cash, trade receivables, accounts payable and accrued expenses, approximates fair value due to the relative short maturity of such instruments. The carrying amount of our debt under our senior credit agreement approximates fair value as the debt bears market rates of interest. The carrying amount of our subordinated debt is approximately $1.8 million more than its fair value as a result of its reduced interest rate from 12.0% to 1.5% for two years beginning January 1, 2015. The fair value of subordinated debt was determined by discounting future interest and principal payments by an estimated market rate of interest of 12.0%. This fair value assessment of our subordinated debt is a level 3 measurement as provided by Accounting Standards Codification (or ASC Fair Value Measurements and Disclosures.
Accounting and Reporting Pronouncements Issued	Accounting and Reporting Pronouncements Issued On April 7, 2015 the Financial Accounting Standards Board (or FASB ASU Interest – Imputation of Interest Update are On April 12, 2015, the FASB deferred the effective date of ASU 2014-09, Revenues from Contracts with Customers
Reclassifications and Adjustment	Reclassifications and Adjustment Certain amounts reported previously in our consolidated financial statements have been reclassified or adjusted to be comparable with the classifications used for our 2015 consolidated financial statements. We are now reporting our cost of sales in two components, which are (a) content amortization and royalties and (b) manufacturing and fulfillment. We are now reporting the change in the fair value of our stock warrant and other derivative liabilities as a separate line item within our statement of operations.
Principles of Consolidation	Principles of Consolidation The investment in ACL is accounted for using the equity method of accounting given the voting control of the board of directors by the minority shareholder. As such, we have included our share of ACL’s operating results as a separate line item in our consolidated financial statements. Our consolidated financial statements include the accounts of all majority-owned subsidiary companies, except for ACL. We carry the investment in ACL as a separate asset on our consolidated balance sheet at cost adjusted for our share of the equity in undistributed earnings. Except for dividends and changes in ownership interest, we report changes in equity in undistributed earnings of ACL in our consolidated statements of operations. All intercompany transactions and balances have been eliminated.

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	6 Months Ended
	Jun. 30, 2015
SEGMENT INFORMATION [Abstract]
Summary of Segment Performance	The following tables summarize the segment contribution for the three-month periods ended June 30, 2015 and 2014: (In thousands) Three Months Ended June 30, 2015 IP Licensing Wholesale Direct-to- Consumer Corporate Total Revenues $ — $ 17,793 $ 6,320 $ — $ 24,113 Operating costs and expenses (66 ) (17,977 ) (7,802 ) (2,498 ) (28,343 ) Depreciation and amortization (32 ) (355 ) (687 ) (136 ) (1,210 ) Share in ACL earnings 438 — — — 438 Segment contribution (loss) $ 340 $ (539 ) $ (2,169 ) $ (2,634 ) $ (5,002 ) (In thousands) Three Months Ended June 30, 2014 IP Licensing Wholesale Direct-to- Consumer Corporate Total Revenues $ — $ 23,424 $ 8,659 $ — $ 32,083 Operating costs and expenses (327 ) (19,278 ) (10,489 ) (2,998 ) (33,092 ) Depreciation and amortization (30 ) (126 ) (994 ) (284 ) (1,434 ) Share in ACL earnings 1,045 — — — 1,045 Segment contribution (loss) $ 688 $ 4,020 $ (2,824 ) $ (3,282 ) $ (1,398 ) The following tables summarize the segment contribution for the six-month periods ended June 30, 2015 and 2014: (In thousands) Six Months Ended June 30, 2015 IP Licensing Wholesale Direct-to- Consumer Corporate Total Revenues $ 458 $ 35,780 $ 13,991 $ — $ 50,229 Operating costs and expenses (553 ) (37,479 ) (17,077 ) (5,525 ) (60,634 ) Depreciation and amortization (61 ) (723 ) (1,357 ) (234 ) (2,375 ) Share in ACL earnings 688 — — — 688 Segment contribution (loss) $ 532 $ (2,422 ) $ (4,443 ) $ (5,759 ) $ (12,092 ) (In thousands) Six Months Ended June 30, 2014 IP Licensing Wholesale Direct-to- Consumer Corporate Total Revenues $ 13 $ 44,774 $ 17,568 $ — $ 62,355 Operating costs and expenses (510 ) (41,461 ) (19,865 ) (6,378 ) (68,214 ) Depreciation and amortization (55 ) (791 ) (1,784 ) (327 ) (2,957 ) Share in ACL earnings 1,350 — — — 1,350 Segment contribution (loss) $ 798 $ 2,522 $ (4,081 ) $ (6,705 ) $ (7,466 )
Reconciliation of Total Segment Contribution to Loss Before Provision for Income Taxes	A reconciliation of total segment contribution (loss) to loss before provision for income taxes is as follows: (In thousands) Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 Total segment contribution (loss) $ (5,002 ) $ (1,398 ) $ (12,092 ) $ (7,466 ) Interest expense, net (2,581 ) (1,985 ) (5,524 ) (4,003 ) Change in fair value of stock warrants and other derivatives 7,140 1,122 7,637 (678 ) Other income (expense) 161 363 (615 ) 486 Loss before provision for income taxes $ (282 ) $ (1,898 ) $ (10,594 ) $ (11,661 )
Total Assets by Segment	Total assets by segment are as follows: (In thousands) June 30, December 31, IP Licensing $ 26,367 $ 30,197 Wholesale 131,013 140,935 Direct-to-Consumer 12,353 12,049 Corporate 8,682 8,873 $ 178,415 $ 192,054

EQUITY EARNINGS IN AFFILIATE (T

EQUITY EARNINGS IN AFFILIATE (Tables)	6 Months Ended
	Jun. 30, 2015
EQUITY EARNINGS IN AFFILIATE [Abstract]
Summarized Financial Information of ACL	The following summarized financial information is derived from the unaudited financial statements of ACL: (In thousands) Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 Revenues $ 2,551 $ 4,353 $ 4,639 $ 6,750 Film cost amortization (379 ) (1,261 ) (896 ) (1,901 ) General, administrative and other expenses (1,048 ) (759 ) (1,840 ) (1,623 ) Income from operations $ 1,124 $ 2,333 $ 1,903 $ 3,226 Net income $ 903 $ 1,867 $ 1,505 $ 2,564

ACCOUNTS RECEIVABLE (Tables)

ACCOUNTS RECEIVABLE (Tables)	6 Months Ended
	Jun. 30, 2015
ACCOUNTS RECEIVABLE [Abstract]
Accounts Receivable	Accounts receivable are primarily derived from: (1) the sale of physical content (DVDs) to retailers and wholesale distributors who ship to mass retailers, (2) direct-to-consumer, ecommerce, catalog and download-to-own sales and (3) video content we license to broadcast, cable/satellite providers and digital subscription platforms such as (In thousands) June 30, December 31, Wholesale $ 15,303 $ 23,922 IP Licensing — 608 Direct-to-Consumer 705 762 Accounts receivable before allowances and reserves 16,008 25,292 Less: reserve for returns (5,891 ) (7,870 ) Less: allowance for doubtful accounts (42 ) (33 ) Accounts receivable, net $ 10,075 $ 17,389

INVENTORIES (Tables)

INVENTORIES (Tables)	6 Months Ended
	Jun. 30, 2015
INVENTORIES [Abstract]
Schedule of Inventory	Inventories are summarized as follows: (In thousands) June 30, December 31, Packaged discs $ 9,240 $ 9,580 Packaging materials 923 1,309 Other merchandise (1) 2,219 2,140 Inventories, net $ 12,382 $ 13,029 (1) Other merchandise primarily consists of gifts, jewelry and home accents purchased from third-parties.

INVESTMENTS IN CONTENT (Tables)

INVESTMENTS IN CONTENT (Tables)	6 Months Ended
	Jun. 30, 2015
INVESTMENTS IN CONTENT [Abstract]
Investment in Content	(In thousands) June 30, December 31, Released $ 52,524 $ 57,766 Completed, not released 6,555 7,205 In-production 3,757 2,554 Investments in content, net $ 62,836 $ 67,525

DEBT (Tables)

DEBT (Tables)	6 Months Ended
	Jun. 30, 2015
DEBT [Abstract]
Debt Outstanding	Debt consists of the following: (In thousands) Maturity Interest June 30, December 31, Senior term notes September 11, 2019 LIBOR + 10.64% $ 58,163 $ 69,388 Less: debt discount (4,184 ) (4,509 ) Total senior-term notes, net of discount 53,979 64,879 Subordinated notes payable to prior Image shareholders October 3, 2018 1.5% through 2016 then 12% 8,546 16,034 Total debt $ 62,525 $ 80,913
Future Minimum Principal Payments	Future minimum principal payments of our debt as of June 30, 2015 are as follows: (In thousands) Senior Notes Subordinated Total 2015 $ 1,225 $ — $ 1,225 2016 2,975 — 2,975 2017 4,375 — 4,375 2018 49,588 8,546 58,134 $ 58,163 $ 8,546 $ 66,709
Schedule of Future Leverage Ratio Requirements	Financial covenants, as amended, include the following: December 31, 2014 June 30, 2015 Remainder of 2015 2016 Thereafter Leverage Ratios: Senior debt-to-Adjusted EBITDA 4.64 : 1.00 6.92 : 1.00 Ranges from 4.47 : 1.00 to 4.03 : 1.00 Ranges from 3.83 : 1:00 to 2:67 : 1.00 2.67 : 1.00 Total debt-to-Adjusted EBITDA 5.71 : 1.00 8.95 : 1.00 Ranges from 5.56 : 1.00 to 5.06 : 1.00 Ranges from 4.82 : 1:00 to 3.44 : 1.00 3.44 : 1.00 Fixed charge coverage ratio 1.10 : 1.00 0.63 : 1.00 Ranges from 1.13 : 1.00 to 1.20 : 1.00 Ranges from 1.24 : 1.00 to 1.59 : 1.00 1.59 : 1.00

MANDATORILY REDEEMABLE CONVER29

MANDATORILY REDEEMABLE CONVERTIBLE PREFERRED STOCK AND EQUITY (Tables)	6 Months Ended
	Jun. 30, 2015
MANDATORILY REDEEMABLE CONVERTIBLE PREFERRED STOCK AND EQUITY [Abstract]
Restricted Stock-Based Compensation Award Activity	A summary of the activity since December 31, 2014 is as follows: (In thousands, except per share data) Service Shares Performance Shares Restricted Stock-Based Compensation Award Activity Shares Weighted- Average Grant Date Fair Value Shares Weighted- Average Grant Date Fair Value Nonvested shares at December 31, 2014 179 $ 4.13 56 $ 5.09 Granted 15 $ 0.76 — $ — Vested (105 ) $ 4.13 — $ — Forfeited (3 ) $ 5.79 (31 ) $ 5.16 Nonvested shares at June 30, 2015 86 $ 3.49 25 $ 5.05

STOCK WARRANTS (Tables)

STOCK WARRANTS (Tables)	6 Months Ended
	Jun. 30, 2015
STOCK WARRANTS [Abstract]
Summary of Stock Warrants Outstanding	RLJE had the following warrants outstanding: June 30, 2015 (In thousands, except per share data) Shares Exercise Price Remaining Life 2012 Warrants: Registered warrants 15,375 $ 12.00 2.25 years Sponsor warrants 3,817 $ 12.00 2.25 years Unregistered warrants 1,850 $ 12.00 2.25 years 2015 Warrants: Unregistered warrants 9,314 $ 1.50 4.88 years 30,356

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	6 Months Ended
	Jun. 30, 2015
FAIR VALUE MEASUREMENTS [Abstract]
Fair Value, Liabilities Measured on Recurring Basis	The following tables represent the valuation of our warrant and other derivative liabilities within the fair-value hierarchy: (In thousands) June 30, 2015 Level 1 Level 2 Level 3 Total Stock warrant and other derivative liabilities $ — $ — $ 4,414 $ 4,414 (In thousands) December 31, 2014 Level 1 Level 2 Level 3 Total Stock warrant and other derivative liabilities $ — $ — $ 601 $ 601
Rollforward of Liabilities	The following tables include a roll-forward of liabilities classified within Level 1 and Level 3: (In thousands) Six Months Ended June 30, 2015 Level 1 Level 2 Level 3 Total Stock warrant and other derivative liabilities at December 31, 2014 $ — $ — $ 601 $ 601 Issuance of warrants and other derivatives — — 11,450 11,450 Change in fair value — — (7,637 ) (7,637 ) Stock warrant and other derivative liabilities at June 30, 2015 $ — $ — $ 4,414 $ 4,414 (In thousands) Six Months Ended June 30, 2014 Level 1 Level 2 Level 3 Total Stock warrant and other derivative liabilities at December 31, 2013 $ 2,630 $ — $ 1,493 $ 4,123 Change in fair value hierarchy (2,755 ) — 2,755 — Change in fair value 125 — 553 678 Stock warrant and other derivative liabilities at June 30, 2014 $ — $ — $ 4,801 $ 4,801
Fair Value, Assets Measured on Nonrecurring Basis	Our nonrecurring fair value measurement of assets and liabilities is classified in the tables below: (In thousands) Six Months Ended June 30, 2015 Level 1 Level 2 Level 3 Total Loss Investments in content $ — $ — $ 2,855 $ 2,855 $ 2,269 (In thousands) Six Months Ended June 30, 2014 Level 1 Level 2 Level 3 Total Loss Investments in content $ — $ — $ 9,649 $ 9,649 $ 1,323

STATEMENTS OF CASH FLOWS (Table

STATEMENTS OF CASH FLOWS (Tables)	6 Months Ended
	Jun. 30, 2015
STATEMENTS OF CASH FLOWS [Abstract]
Supplemental Cash Flow Information	Supplemental Disclosures (In thousands) Six Months Ended June 30, 2015 2014 Cash paid during the period for: Interest $ 4,746 $ 3,483 Income taxes $ 47 $ 53 Non-cash investing and financing activities: Subordinated notes payable exchanged for preferred stock and warrants $ 8,546 $ — Accretion of preferred stock dividends $ 459 $ — Preferred stock issuance costs accrued for in accounts payable and accrued liabilities $ 60 $ — Capital expenditures accrued for in accounts payable and accrued liabilities $ 268 $ —

DESCRIPTION OF BUSINESS AND B33

DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION (Details) $ / shares in Units, $ in Thousands	May. 20, 2015USD ($)	Jun. 30, 2015USD ($)$ / shares	Jun. 30, 2014USD ($)	Jun. 30, 2015USD ($)Segment$ / shares	Jun. 30, 2014USD ($)	Dec. 31, 2014USD ($)	Mar. 31, 2015$ / shares	Dec. 31, 2013USD ($)	Feb. 29, 2012
Business Acquisition [Line Items]
Ownership interest in ACL (in hundredths)									64.00%
Number of reportable segments | Segment				3
Unamortized debt issuance costs		$ 1,000		$ 1,000		$ 1,200
Liquidity [Abstract]
Net loss		(546)	$ (2,278)	(11,176)	$ (12,349)
Net use of cash from operating activities				(10,681)	(7,827)
Cash balance		7,200		7,200		6,662		$ 7,674
Term debt outstanding	$ 8,500	62,525		$ 62,525		80,913
Capital restructuring transaction	31,000
Net decrease in cash	$ (2,500)
Percentage of debt notes (in hundredths)	50.00%
Subordinate notes debt balance and interest rate reduction period				2 years
Sale of stock	$ 31,000
Preferred stock in cash	22,500			$ 22,500	$ 0
Converted subordinated notes	8,500
Accelerated principle payment paid	10,000
Fees and expense paid	1,800
Working capital	10,700
Interest Expense	$ 2,000
Goodwill [Abstract]
Goodwill		$ 44,891		$ 44,891		$ 44,891
Percentage of decrease in common stock price per share (in hundredths)		73.00%
Common stock price per share (in dollars per share) | $ / shares		$ 0.39		$ 0.39			$ 1.46
Percentage of outstanding equity securities computed (in hundredths)		71.00%
Goodwill impairment testing, margin expressed as a percentage of fair value (in hundredths)				4.00%
Goodwill impairment testing, margin expressed as a percentage of fair value using conservative estimate (in hundredths)						15.00%
Goodwill impairment testing, excess margin (in hundredths)				18.00%
Wholesale [Member]
Goodwill [Abstract]
Goodwill		$ 43,000		$ 43,000
Goodwill impairment testing, reporting unit goodwill amount		38,900		38,900
Direct-to-Consumer [Member]
Goodwill [Abstract]
Goodwill		1,900		$ 1,900
Maximum [Member]
Goodwill [Abstract]
Goodwill impairment, discount rate (in hundredths)				21.00%
Minimum [Member]
Goodwill [Abstract]
Goodwill impairment, discount rate (in hundredths)				18.00%
Unsecured Subordinated Note [Member]
Fair value of financial instruments [Abstract]
Subordinated debt carrying value		$ 1,800		$ 1,800
Unsecured Subordinated Note [Member] | January 1, 2015 to December 31, 2016 [Member]
Liquidity [Abstract]
Reduction in interest rate (in hundredths)		1.50%		1.50%
Unsecured Subordinated Note [Member] | October 3, 2018 [Member]
Liquidity [Abstract]
Reduction in interest rate (in hundredths)		12.00%		12.00%
Acorn Media [Member] | Agatha Christie Limited Company [Member]
Business Acquisition [Line Items]
Ownership interest in ACL (in hundredths)									64.00%

SEGMENT INFORMATION (Details)

SEGMENT INFORMATION (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015USD ($)	Jun. 30, 2014USD ($)	Jun. 30, 2015USD ($)Segment	Jun. 30, 2014USD ($)	Dec. 31, 2014USD ($)
SEGMENT INFORMATION [Abstract]
Number of reportable segments | Segment			3
Segment Reporting Information [Line Items]
Revenues	$ 24,113	$ 32,083	$ 50,229	$ 62,355
Operating costs and expenses	(28,343)	(33,092)	(60,634)	(68,214)
Depreciation and amortization	(1,210)	(1,434)	(2,375)	(2,957)
Share of income	438	1,045	688	1,350
Segment contribution (loss)	(5,002)	(1,398)	(12,092)	(7,466)
Revenue from immaterial error correction		852,000
Negative gross margin			3,100
Total assets by segment [Abstract]
Total assets	178,415		178,415		$ 192,054
Reconciliation of total segment contribution to income (loss) before provision for income taxes [Abstract]
Total segment contribution (loss)	(5,002)	(1,398)	(12,092)	(7,466)
Interest expense, net	(2,581)	(1,985)	(5,524)	(4,003)
Change in fair value of stock warrants and other derivatives	7,140	1,122	7,637	(678)
Other income (expense)	161	363	(615)	486
LOSS BEFORE PROVISION FOR INCOME TAXES	(282)	(1,898)	(10,594)	(11,661)
Reportable Segments [Member] | IP Licensing [Member]
Segment Reporting Information [Line Items]
Revenues	0	0	458	13
Operating costs and expenses	(66)	(327)	(553)	(510)
Depreciation and amortization	(32)	(30)	(61)	(55)
Share of income	438	1,045	688	1,350
Segment contribution (loss)	340	688	532	798
Total assets by segment [Abstract]
Total assets	26,367		26,367		30,197
Reportable Segments [Member] | Wholesale [Member]
Segment Reporting Information [Line Items]
Revenues	17,793	23,424	35,780	44,774
Operating costs and expenses	(17,977)	(19,278)	(37,479)	(41,461)
Depreciation and amortization	(355)	(126)	(723)	(791)
Share of income	0	0	0	0
Segment contribution (loss)	(539)	4,020	(2,422)	2,522
Total assets by segment [Abstract]
Total assets	131,013		131,013		140,935
Reportable Segments [Member] | Direct-to-Consumer [Member]
Segment Reporting Information [Line Items]
Revenues	6,320	8,659	13,991	17,568
Operating costs and expenses	(7,802)	(10,489)	(17,077)	(19,865)
Depreciation and amortization	(687)	(994)	(1,357)	(1,784)
Share of income	0	0	0	0
Segment contribution (loss)	(2,169)	(2,824)	(4,443)	(4,081)
Total assets by segment [Abstract]
Total assets	12,353		12,353		12,049
Corporate [Member]
Segment Reporting Information [Line Items]
Revenues	0	0	0	0
Operating costs and expenses	(2,498)	(2,998)	(5,525)	(6,378)
Depreciation and amortization	(136)	(284)	(234)	(327)
Share of income	0	0	0	0
Segment contribution (loss)	(2,634)	$ (3,282)	(5,759)	$ (6,705)
Total assets by segment [Abstract]
Total assets	$ 8,682		$ 8,682		$ 8,873

EQUITY EARNINGS IN AFFILIATE (D

EQUITY EARNINGS IN AFFILIATE (Details) $ in Thousands, £ in Millions	1 Months Ended		3 Months Ended		6 Months Ended
	Feb. 29, 2012USD ($)	Feb. 29, 2012GBP (£)	Jun. 30, 2015USD ($)NovelPlayFilm	Jun. 30, 2014USD ($)	Jun. 30, 2015USD ($)NovelPlayFilm	Jun. 30, 2014USD ($)
Business Acquisition [Line Items]
Number of novels and short story collections | Novel			80		80
Number of plays | Play			19		19
Number of television films | Film			100		100
Ownership interest in ACL (in hundredths)	64.00%
Summarized financial information [Abstract]
Revenues			$ 2,551	$ 4,353	$ 4,639	$ 6,750
Film cost amortization			(379)	(1,261)	(896)	(1,901)
General, administrative and other expenses			(1,048)	(759)	(1,840)	(1,623)
Income from operations			1,124	2,333	1,903	3,226
Net income			$ 903	$ 1,867	$ 1,505	$ 2,564
Agatha Christie Limited Company [Member]
Business Acquisition [Line Items]
Purchase consideration	$ 21,900	£ 13.7
Agatha Christie Limited Company [Member] | Bank Term Loan [Member]
Business Acquisition [Line Items]
Source of cash for financing of acquisition	$ 18,700

ACCOUNTS RECEIVABLE (Details)

ACCOUNTS RECEIVABLE (Details) - USD ($)	Jun. 30, 2015	Dec. 31, 2014
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable before allowances and reserves	$ 16,008,000	$ 25,292,000
Less: reserve for returns	(5,891,000)	(7,870,000)
Less: allowance for doubtful accounts	(42,000)	(33,000)
Accounts receivable, net	10,075,000	17,389,000
Distribution partners	5,500,000	3,100,000
Advances receivables from distributor	645,000	6,600,000
Wholesale [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable before allowances and reserves	15,303,000	23,922,000
IP Licensing [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable before allowances and reserves	0	608,000
Direct to Consumer [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable before allowances and reserves	$ 705,000	$ 762,000

INVENTORIES (Details)

INVENTORIES (Details) - USD ($)		3 Months Ended		6 Months Ended
		Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
INVENTORIES [Abstract]
Packaged discs		$ 9,240,000		$ 9,240,000		$ 9,580,000
Packaging materials		923,000		923,000		1,309,000
Other merchandise	[1]	2,219,000		2,219,000		2,140,000
Inventories, net		12,382,000		12,382,000		$ 13,029,000
Impairment charges		$ 374,000	$ 515,000	$ 1,100,000	$ 1,200,000
[1]	Other merchandise primarily consists of gifts, jewelry and home accents purchased from third-parties.

INVESTMENTS IN CONTENT (Details

INVESTMENTS IN CONTENT (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Produced and Acquired Content [Abstract]
Released	$ 52,524,000		$ 52,524,000		$ 57,766,000
Completed, not released	6,555,000		6,555,000		7,205,000
In-production	3,757,000		3,757,000		2,554,000
Investments in content, net	62,836,000		62,836,000		$ 67,525,000
Impairment charges	$ 1,700,000	$ 204,000	$ 2,300,000	$ 1,300,000

DEBT (Details)

DEBT (Details) - Credit Agreement [Member] - USD ($) $ in Millions	6 Months Ended	7 Months Ended
	Jun. 30, 2015	Apr. 14, 2015
Line of Credit Facility [Line Items]
Term of credit facility	5 years
Maximum borrowing capacity	$ 70
Interest rate of principal amortization for first year (in hundredths)	3.50%
Interest rate of principal amortization for second year (in hundredths)	3.50%
Interest rate of principal amortization for third year (in hundredths)	5.00%
Interest rate of principal amortization for remaining term (in hundredths)	7.50%
Minimum cash threshold	$ 12
Percentage of principal prepayment premium in first year (in hundredths)	5.00%
Percentage of principal prepayment premium in second year (in hundredths)	3.00%
Percentage of principal prepayment premium in third year (in hundredths)	1.50%
Voluntary prepayment amount	$ 5
Cash balance maintained for credit facility	1	$ 3.5
Access to previously restricted cash	2.5
Outstanding amount pursuant to credit agreement	$ 10
Percentage of valuation threshold (in hundredths)	83.00%
Minimum threshold unpaid principal balance	$ 65
Percentage of valuation threshold thereafter (in hundredths)	75.00%
Cash balance maintained for credit facility before amendment	$ 1
LIBOR [Member]
Line of Credit Facility [Line Items]
Basis spread on variable rate with floor (in hundredths)	0.25%

DEBT, LONG TERM DEBT (Details)

DEBT, LONG TERM DEBT (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Dec. 31, 2014	Oct. 31, 2012
Debt Instrument [Line Items]
Senior term notes	$ 66,709
Total debt	$ 62,525	$ 80,913
Sale of preferred stock and warrants (in shares)	31,046
Subordinated Notes Payable to Prior Image Shareholders [Member]
Debt Instrument [Line Items]
Senior term notes	$ 8,546		$ 14,800
Subordinated loans	$ 8,546	16,034
Maturity date	Oct. 3, 2018
Stated cash interest rate (in hundredths)	5.40%
Interest rate (in hundredths)	5.00%
Common stock shares acquired value in exchange of subordinated notes	$ 8,500
Sale of preferred stock and warrants (in shares)	8,546
Warrants Issued	2,563,873
Subordinated Notes Payable to Prior Image Shareholders [Member] | January 1, 2015 to December 31, 2016 [Member]
Debt Instrument [Line Items]
Period of interest rate	24 months
Interest rate (in hundredths)	1.50%
Subordinated Notes Payable to Prior Image Shareholders [Member] | October 3, 2018 [Member]
Debt Instrument [Line Items]
Interest rate (in hundredths)	12.00%
Senior Notes [Member]
Debt Instrument [Line Items]
Senior note debt service	$ 5,300
Senior term notes	58,163	69,388
Less: debt discount	(4,184)	(4,509)
Total senior-term notes, net of discount	$ 53,979	$ 64,879
Maturity date	Sep. 11, 2019
Senior Notes [Member] | LIBOR [Member]
Debt Instrument [Line Items]
Basis spread on variable rate (in hundredths)	10.64%
Note Amendment [Member]
Debt Instrument [Line Items]
Percentage of interest due payable in cash	45.00%
Note Amendment [Member] | Convertible Preferred Stock [Member]
Debt Instrument [Line Items]
Percentage of outstanding balance to be converted under subordinated note (in hundredths)	50.00%

DEBT, FUTURE MINIMUM PRINCIPAL

DEBT, FUTURE MINIMUM PRINCIPAL PAYMENTS (Details) $ in Thousands	Jun. 30, 2015USD ($)	Dec. 31, 2014USD ($)	Oct. 31, 2012USD ($)
Future Minimum Principal Payments [Abstract]
2,015	$ 1,225
2,016	2,975
2,017	4,375
2,018	58,134
Long-term Debt, Gross	66,709
Subordinated Notes Payable to Prior Image Shareholders [Member]
Future Minimum Principal Payments [Abstract]
2,015	0
2,016	0
2,017	0
2,018	8,546
Long-term Debt, Gross	$ 8,546		$ 14,800
Credit Agreement [Member] | December 31, 2014 [Member]
Future Minimum Principal Payments [Abstract]
Senior debt-to-adjusted EBITDA	4.64
Total debt-to adjusted EBITDA	5.71
Fixed charge coverage ratio	1.10
Credit Agreement [Member] | December 31, 2015 [Member] | Maximum [Member]
Future Minimum Principal Payments [Abstract]
Senior debt-to-adjusted EBITDA	4.47
Total debt-to adjusted EBITDA	5.56
Fixed charge coverage ratio	1.13
Credit Agreement [Member] | December 31, 2015 [Member] | Minimum [Member]
Future Minimum Principal Payments [Abstract]
Senior debt-to-adjusted EBITDA	4.03
Total debt-to adjusted EBITDA	5.06
Fixed charge coverage ratio	1.20
Credit Agreement [Member] | December 31, 2016 [Member] | Maximum [Member]
Future Minimum Principal Payments [Abstract]
Senior debt-to-adjusted EBITDA	3.83
Total debt-to adjusted EBITDA	4.82
Fixed charge coverage ratio	1.24
Credit Agreement [Member] | December 31, 2016 [Member] | Minimum [Member]
Future Minimum Principal Payments [Abstract]
Senior debt-to-adjusted EBITDA	2.67
Total debt-to adjusted EBITDA	3.44
Fixed charge coverage ratio	1.59
Credit Agreement [Member] | June 30, 2015 [Member]
Future Minimum Principal Payments [Abstract]
Senior debt-to-adjusted EBITDA	6.92
Total debt-to adjusted EBITDA	8.95
Fixed charge coverage ratio	0.63
Credit Agreement [Member] | Thereafter [Member]
Future Minimum Principal Payments [Abstract]
Senior debt-to-adjusted EBITDA	2.67
Total debt-to adjusted EBITDA	3.44
Fixed charge coverage ratio	1.59
Senior Notes [Member]
Future Minimum Principal Payments [Abstract]
2,015	$ 1,225
2,016	2,975
2,017	4,375
2,018	49,588
Long-term Debt, Gross	$ 58,163	$ 69,388

MANDATORILY REDEEMABLE CONVER42

MANDATORILY REDEEMABLE CONVERTIBLE PREFERRED STOCK AND EQUITY (Details)	Jul. 09, 2015USD ($)	Jun. 30, 2015USD ($)$ / sharesshares	Jun. 30, 2014USD ($)	Jun. 30, 2015USD ($)BoardMember$ / sharesshares	Jun. 30, 2014USD ($)$ / sharesshares	Dec. 31, 2014$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Preferred stock shares issued (in shares)		31,046		31,046
Warrants to purchase common stock issued (in shares)				9,313,873
Proceeds from issuance of preferred stock and warrants | $				$ 22,500,000
Exchange of subordinated notes | $				8,500,000
Prepayment of penalties, legal and accounting fees | $				1,800,000
Preferred stock issuance fees | $				803,000
Additional debt discounts | $				450,000
Interest expense | $				$ 250,000
Preferred stock dividend percentage (in hundredths)				8.00%
Preferred stock dividend stated value (in dollars per share) | $ / shares				$ 1,000
Preferred stock dividend payment due date				Jul. 1, 2017
Preferred stock redemption price (in dollars per share) | $ / shares		$ 1,000		$ 1,000
Trading price percentage (in hundredths)		85.00%		85.00%
Accreted value of dividends | $		$ (459,000)	$ 0	$ (459,000)	$ 0
Voting right to appoint number of board members | BoardMember				2
Number of board members after appointment | BoardMember				11
Number of board members resigned | BoardMember				4
Number of board members after resignations | BoardMember				7
Warrants issued with preferred stock exercisable term				5 years
Common stock shares outstanding (in shares)		12,879,433		12,879,433		13,335,258
Compensation expense | $				$ 154,000	456,000
Reduction in share-based compensation expense | $		$ 146,000
Restricted common stock granted | $				$ 417,000
Restricted Stock-Based Compensation Award Activity [Roll Forward]
Vested (in shares)				(57,224)
Restricted Stock-Based Compensation Awards Activity Weighted Average Grant Date Fair Value [Abstract]
Publicly traded stock price (in dollars per share) | $ / shares		$ 0.76		$ 0.76
Unamortized compensation that will vest solely on completion of future services | $		$ 98,000		$ 98,000
Vesting period of unamortized compensation				11 months
Weighted-average remaining vesting period unamortized compensation				7 months
Unamortized compensation that will vest based on achieving certain performance criteria | $		$ 73,000		$ 73,000
Vesting period of unamortized compensation on achieving certain performance criteria				11 months
Weighted-average remaining vesting period of unamortized compensation on achieving certain performance criteria				8 months
Subsequent Event [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregated subscription amount | $	$ 31,000,000
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Preferred stock conversion price (in dollars per share) | $ / shares				$ 1
Exercise price of warrants issued with preferred stock (in dollars per share) | $ / shares		$ 1.50		$ 1.50
Maximum [Member] | Subsequent Event [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Payment of partial liquidation damages percentage on aggregated subscription amount (in hundredths)	6.00%
Certain Founding Shareholders [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock shares outstanding (in shares)						437,241
Common shares forfeiture period						2 years
Board Members [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Preferred stock shares issued (in shares)		16,500		16,500
Warrants to purchase common stock issued (in shares)				4,950,000
Proceeds from issuance of preferred stock and warrants | $				$ 10,000,000
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense | $		$ (40,000)	$ 421,000	$ 154,000	$ 456,000
Restricted Stock-Based Compensation Award Activity [Roll Forward]
Granted (in shares)				15,136	90,138
Vested (in shares)				(104,885)	(61,202)
Forfeited (in shares)				(33,271)	(78,470)
Restricted Stock [Member] | Minimum [Member]
Restricted Stock-Based Compensation Awards Activity Weighted Average Grant Date Fair Value [Abstract]
Granted (in dollars per share) | $ / shares				$ 4.60	$ 4.60
Restricted Stock [Member] | Maximum [Member]
Restricted Stock-Based Compensation Awards Activity Weighted Average Grant Date Fair Value [Abstract]
Granted (in dollars per share) | $ / shares				$ 5.01	$ 5.01
Restricted Stock [Member] | Executive Officer and Director [Member]
Restricted Stock-Based Compensation Award Activity [Roll Forward]
Granted (in shares)					64,638
Restricted Stock [Member] | Other Members of Management [Member]
Restricted Stock-Based Compensation Award Activity [Roll Forward]
Granted (in shares)					25,500
Restricted Stock, Service Shares [Member]
Restricted Stock-Based Compensation Award Activity [Roll Forward]
Nonvested shares at the beginning of the period (in shares)				179,000
Granted (in shares)				15,000
Vested (in shares)				(105,000)
Forfeited (in shares)				(3,000)
Nonvested shares at the end of the period (in shares)		86,000		86,000		179,000
Restricted Stock-Based Compensation Awards Activity Weighted Average Grant Date Fair Value [Abstract]
Nonvested shares at the beginning of the period (in dollars per share) | $ / shares				$ 4.13
Granted (in dollars per share) | $ / shares				0.76
Vested (in dollars per share) | $ / shares				4.13
Forfeited (in dollars per share) | $ / shares				5.79
Nonvested shares at the end of the period (in dollars per share) | $ / shares		$ 3.49		$ 3.49		$ 4.13
Restricted Stock, Performance Shares [Member]
Restricted Stock-Based Compensation Award Activity [Roll Forward]
Nonvested shares at the beginning of the period (in shares)				56,000
Granted (in shares)				0
Vested (in shares)				0
Forfeited (in shares)				(31,000)
Nonvested shares at the end of the period (in shares)		25,000		25,000		56,000
Performance shares forfeited due to performance criteria (in shares)					(66,244)
Restricted Stock-Based Compensation Awards Activity Weighted Average Grant Date Fair Value [Abstract]
Nonvested shares at the beginning of the period (in dollars per share) | $ / shares				$ 5.09
Granted (in dollars per share) | $ / shares				0
Vested (in dollars per share) | $ / shares				0
Forfeited (in dollars per share) | $ / shares				5.16
Nonvested shares at the end of the period (in dollars per share) | $ / shares		$ 5.05		$ 5.05		$ 5.09

STOCK WARRANTS (Details)

STOCK WARRANTS (Details) - $ / shares	6 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Class of Warrant or Right [Line Items]
Common stock, shares issued (in shares)	13,724,756	13,724,756
Maximum [Member]
Class of Warrant or Right [Line Items]
Exercise Price (in dollars per share)	$ 1.50
Warrants [Member]
Class of Warrant or Right [Line Items]
Warrants outstanding (in shares)	30,356,000
2012 Warrants [Member]
Class of Warrant or Right [Line Items]
Exercise Price (in dollars per share)	$ 12
Term of warrants	5 years
Redemption price (in dollars per share)	$ 0.01
Common stock benchmark trading price, Minimum (in dollars per share)	$ 17.50
Trading period to trigger redemption, Minimum	20 days
Benchmark trading period	30 days
2012 Warrants [Member] | Minimum [Member]
Class of Warrant or Right [Line Items]
Change in exercise price of warrants (in dollars per share)	$ 6
2012 Warrants [Member] | Maximum [Member]
Class of Warrant or Right [Line Items]
Change in exercise price of warrants (in dollars per share)	$ 9
2012 Warrants [Member] | Registered Warrants [Member]
Class of Warrant or Right [Line Items]
Warrants outstanding (in shares)	15,375,000
Exercise Price (in dollars per share)	$ 12
Remaining Life	2 years 3 months
2012 Warrants [Member] | Sponsor Warrants [Member]
Class of Warrant or Right [Line Items]
Warrants outstanding (in shares)	3,817,000
Exercise Price (in dollars per share)	$ 12
Remaining Life	2 years 3 months
2012 Warrants [Member] | Unregistered Warrants [Member]
Class of Warrant or Right [Line Items]
Warrants outstanding (in shares)	1,850,000
Exercise Price (in dollars per share)	$ 12
Remaining Life	2 years 3 months
2015 Warrants [Member]
Class of Warrant or Right [Line Items]
Common stock, shares issued (in shares)	9,300,000
2015 Warrants [Member] | Unregistered Warrants [Member]
Class of Warrant or Right [Line Items]
Warrants outstanding (in shares)	9,314,000
Exercise Price (in dollars per share)	$ 1.50
Remaining Life	4 years 10 months 17 days

FAIR VALUE MEASUREMENTS (Detail

FAIR VALUE MEASUREMENTS (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014	Dec. 31, 2013
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loss			$ 2,269,000	$ 1,323,000
Impairment charges	$ 1,700,000	$ 204,000	2,300,000	1,300,000
Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Stock warrant and other derivative liabilities	4,414,000	4,801,000	4,414,000	4,801,000	$ 601,000	$ 4,123,000
Recurring [Member] | Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Stock warrant and other derivative liabilities	0	0	0	0	0	2,630,000
Recurring [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Stock warrant and other derivative liabilities	0	0	0	0	0	0
Recurring [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Stock warrant and other derivative liabilities	4,414,000	4,801,000	4,414,000	4,801,000	$ 601,000	$ 1,493,000
Nonrecurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments in content	2,855,000	9,649,000	2,855,000	9,649,000
Nonrecurring [Member] | Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments in content	0	0	0	0
Nonrecurring [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments in content	0	0	0	0
Nonrecurring [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments in content	$ 2,855,000	$ 9,649,000	$ 2,855,000	$ 9,649,000

FAIR VALUE MEASUREMENTS, Roll F

FAIR VALUE MEASUREMENTS, Roll Forward (Details) - USD ($)	6 Months Ended		12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014	May. 20, 2015
Warrant [Member]
Class of Warrant or Right [Line Items]
Warrants outstanding (in shares)	30,355,540
Recurring [Member]
Fair value liability [Roll Forward]
Stock warrant and other derivative liabilities, beginning of period	$ 601,000	$ 4,123,000	$ 4,123,000
Issuance of warrants and other derivatives	11,450,000
Change in fair value hierarchy		0
Change in fair value	(7,637,000)	678,000
Stock warrant and other derivative liabilities, end of period	4,414,000	4,801,000	601,000
Recurring [Member] | Level 1 [Member]
Fair value liability [Roll Forward]
Stock warrant and other derivative liabilities, beginning of period	0	2,630,000	2,630,000
Issuance of warrants and other derivatives	0
Change in fair value hierarchy		(2,755,000)
Change in fair value	0	125,000
Stock warrant and other derivative liabilities, end of period	0	0	0
Recurring [Member] | Level 2 [Member]
Fair value liability [Roll Forward]
Stock warrant and other derivative liabilities, beginning of period	0	0	0
Issuance of warrants and other derivatives	0
Change in fair value hierarchy		0
Change in fair value	0	0
Stock warrant and other derivative liabilities, end of period	0	0	0
Recurring [Member] | Level 3 [Member]
Fair value liability [Roll Forward]
Stock warrant and other derivative liabilities, beginning of period	601,000	1,493,000	1,493,000
Issuance of warrants and other derivatives	11,450,000
Change in fair value hierarchy		2,755,000
Change in fair value	(7,637,000)	553,000
Stock warrant and other derivative liabilities, end of period	$ 4,414,000	$ 4,801,000	601,000
2012 Warrants [Member]
Class of Warrant or Right [Line Items]
Warrants outstanding (in shares)	21,041,667
Decrease in fair value of warrants	$ 0		$ 601,000
2012 Warrants [Member] | Registered Warrants [Member]
Class of Warrant or Right [Line Items]
Warrants outstanding (in shares)	15,375,000
The discount rate applied in fair value assumption (in hundredths)	13.30%		11.20%
2012 Warrants [Member] | Sponsor Warrants [Member]
Class of Warrant or Right [Line Items]
Warrants outstanding (in shares)	3,816,667
2012 Warrants [Member] | Unregistered Warrants [Member]
Class of Warrant or Right [Line Items]
Warrants outstanding (in shares)	1,850,000
The discount rate applied in fair value assumption (in hundredths)	18.20%		17.80%
2015 Warrants [Member]
Class of Warrant or Right [Line Items]
Warrants outstanding (in shares)	9,313,873
2015 Warrants [Member] | Level 3 [Member]
Class of Warrant or Right [Line Items]
Decrease in fair value of warrants	$ 783,000			$ 2,100,000
Preferred Stock [Member] | Level 3 [Member]
Class of Warrant or Right [Line Items]
Decrease in fair value of warrants	$ 3,600,000			$ 9,400,000

NET LOSS PER COMMON SHARE DATA

NET LOSS PER COMMON SHARE DATA (Details) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Maximum [Member]
Earnings Per Share, by Common Class [Line Items]
Exercise price (in dollars per share)	$ 1.50		$ 1.50
Warrant [Member]
Earnings Per Share, by Common Class [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)			30,355,540
Warrant [Member] | Maximum [Member]
Earnings Per Share, by Common Class [Line Items]
Exercise price (in dollars per share)	12		$ 12
Warrant [Member] | Minimum [Member]
Earnings Per Share, by Common Class [Line Items]
Exercise price (in dollars per share)	$ 1.50		$ 1.50
Common Class Restricted [Member]
Earnings Per Share, by Common Class [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	198,000	985,000	207,000	1,109,000
Number of shares of restricted common stock held by founding shareholders (in shares)	73,000	456,407	73,000	456,407

STATEMENTS OF CASH FLOWS (Detai

STATEMENTS OF CASH FLOWS (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Cash paid during the year for: [Abstract]
Interest			$ 4,746	$ 3,483
Income taxes			47	53
Non-cash investing and financing activities:
Subordinated notes payable exchanged for preferred stock and warrants			8,546	0
Accretion of preferred stock dividends	$ 459	$ 0	459	0
Preferred Stock Issuance Costs Accrued For In Accounts Payable And Accrued Liabilities			60	0
Capital expenditures accrued for in accounts payable and accrued liabilities			$ 268	$ 0

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details) - USD ($)	May. 20, 2015	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014	Jun. 27, 2013
Related Party Transaction [Line Items]
Foreign currency exchange (loss)/gain		$ 559,000	$ 367,000	$ (282,000)	$ 523,000
Contract obligations remaining amount							$ 3,500,000
Sale of preferred stock and warrants (in shares)		31,046		31,046
Common stock shares acquired (in shares)		13,724,756		13,724,756		13,724,756
United Kingdom Subsidiary [Member]
Related Party Transaction [Line Items]
Loans to subsidiaries		$ 9,900,000		$ 9,900,000
Australian Subsidiary [Member]
Related Party Transaction [Line Items]
Loans to subsidiaries		4,000,000		4,000,000
Agatha Christie Limited [Member]
Related Party Transaction [Line Items]
Overhead and personnel costs charged		476,000	457,000	902,000	1,100,000
Dividends paid to parent entity		1,700,000	$ 1,900,000	1,700,000	$ 2,900,000
RLJ SPAC Acquisition, LLC [Member]
Related Party Transaction [Line Items]
Common stock outstanding		$ 2,000,000		$ 2,000,000
Period over which stocks will be acquired				24 months
Common stock shares acquired (in shares)		1,700,000		1,700,000
Board Members and Affiliates [Member] | RLJ SPAC Acquisition, LLC [Member]
Related Party Transaction [Line Items]
Sale of preferred stock and warrants (in shares)	16,500
Common stock shares acquired (in shares)	4,950,000
Common stock shares acquired, value	$ 16,500,000