Management Discussion Radio net revenues decreased in the three-month and six month periods ended August 31, 2011 as compared to the same period of the prior year principally due to the July 15, 2011 commencement of a Local Marketing Agreement related to our two stations in Chicago and one in New York with Merlin Media LLC. During the time these stations were operated pursuant to the Local Marketing Agreement (“LMA”), Emmis recorded, as net revenue, a $0.2 million monthly LMA fee, but did not record advertising sales during this period. We typically monitor the performance of our domestic stations against the aggregate performance of the markets in which we operate based on reports for the periods prepared by Miller Kaplan. Miller Kaplan reports are generally prepared on a gross revenues basis and exclude revenues from barter arrangements. Miller Kaplan reported gross revenues for our domestic radio markets increased 2.2% for the six-month period ended August 31, 2011 as compared to the same period of the prior year. Excluding the stations operating under LMA’s, our gross revenues as reported to Miller Kaplan increased 3.8% compared to the prior year. Our gross revenues exceeded the market average in Los Angeles, Indianapolis and Austin. However, as previously discussed, our gross revenues trailed the market average in New York and St. Louis. Miller Kaplan does not report gross revenue market data for our Terre Haute market. For the six-month period ended August 31, 2011 as compared to the same period of the prior year, our average rate per minute for our domestic radio stations was up 7.5%, and our minutes sold were down 3.7%. Publishing net revenues decreased in the three-month and six-month periods ended August 31, 2011 as compared to the same periods of the prior year as the local advertising environment for publications remains challenging. National advertising sales have continued to be stronger than local advertising sales.