Assets of $232.4 million are $0.5 million lower than 2009. This is primarily due to the broadcast licence impairment charge described above.
Liabilities and Shareholder’s Equity
As at December 31, 2010 the Company had $1.4 million of current bank indebtedness outstanding and $53.2 million of long-term debt. The Company has also issued standby letters of credit totaling $0.8 million in support of certain long-term liabilities. The capital structure consisted of 44% equity ($102.0 million) and 56% debt ($130.4 million) at year end.