. Cash shortfalls at the joint venture beyond March 31, 2012 are not currently estimable or probable; therefore, we have not accrued for any additional shortfalls beyond $2.5 million.
This from the 10Q. It says they'll have a cash shortfall this year of 2.5 million and after 03/31/12 there won't be anymore shortfalls. Obviously next year's political in California and Texas will be a big part of the success of these two stations but what about 2013? They seem to think this is about to become accretive to our bottom line starting next year. Did someone mention that there was no retrans at these station yet? Just curious to figure out where we are on that JV. I think that is the single biggest problem with this company and stock price right now.
I don't remember if it was on the conference call or at a conference. But TVL said they either had $0 or virtually $0 retrans revenue from the JV stations, but that was going to change very soon. I believe they mentioned an additional $20-$30m in annual revenue they expect to come in, and that the contract with Comcast ran to 2023.