Ladies and gentlemen we do appreciate your patience, and welcome to the third quarter 2014 results conference call. At this time, all participants are in a listen-only mode. Later we'll a conduct a question-and-answer session; instructions will be given at that time. [Operator Instructions]. As a reminder, this conference is being recorded. I would now like to turn the conference over to your host, President and CEO of Saga Communications, Christian. Please go ahead, sir.

Hello, this is Ed Christian, not to be confused with any other Christian above. Thank you very much moderator. And with that I will turn it over to Bush, Sam.

Thank you, Ed. This call will contain forward-looking statements about our future performance and results of operations that involve risks and uncertainties that are described in the Risk Factors section of our most recent Form 10-K. This call will also contain a discussion of certain non-GAAP financial measures. Reconciliation for all the non-GAAP financial measures to the most directly comparable GAAP measure are attached in the selected financial data table. During the quarter, net revenues increased 4.4% to 34.4 million. Station operating expenses increased 2.8 million. The increase was primarily due to an accrual attributable to the company's expectations of entering into license agreements with Neilson sometime in the fourth quarter. We expect there will be an additional charge in the fourth quarter once the agreements are finalized. Our expectations of the amount is that it will be significantly less than the third quarter accrual. The expense has been accrued in anticipation of reaching a resolution with Neilson. Free cash flow for the quarter was 4.9 million. We anticipate free cash flow for the year of between 19 million and 20 million. National accounted for approximately 13.3% of gross revenue for the quarter compared to 14.1% for the same period last year. Gross political revenue for the quarter was 1.1 million compared to 206,000 for the same period last year. Radio was 942,000 this quarter versus 69,000 last year. Television was a 176,000 compared to 137,000. Total political year-to-date through third quarter was 1.7 million versus 440,000 last year. We expect political revenue for the year to be between 4.4 million and 4.8 million. Subsequent to the end of the quarter, we paid our second quarterly cash dividend of $.20 per share. The dividend was paid on October 17 and was in the amount of 1.1 million, bringing the total…

Thank you, Sam. So this could be a brief call as I am in the process of recovering from sinus infection which became a tad bronchial. If I leave the phone from when I knew it, is because my cough sounds kind of like charging right now, so please bear with me. Even getting a (Zepax) [ph] quite didn’t work. As the first question that anyone else asks when you call nowadays is have you been out of the country lately. I had a response and said yes about a month ago. And then he asked where, and I replied Iceland. And the healthcare providers take a step or two backward, so I don't know what that's, any issue there. Nevertheless I'm fine, just controlling my cough as best possible so bear with me on this. Now let's talk about the quarter. I am really pleased with the revenue. Certainly this is still challenging marketplace. And any up is good, any up is good up. But I do think we made a difference with our sales efforts. On a global basis, here is what radio and television is kind of up against and here is what we have overcome. Let’s take a look at the U.S for a second here. Good side employment claimed sold 10,000 last week and that with at the lowest levels since 1979, nice. U.S. consumer spending held relatively steady in October, another good sign and U.S. productivity grew 2% in quarter three. Greater productivity is considered a key factor in determining rising living standards, you all know that. And finally overall economy is measured by GDP, grew at an annual rate of 3.5% in Q3. So with all that good news which believes radio and TV advertising sales, why aren't we doing better? Now I…

And we've actually got several questions Ed, but either you or I for the most part have answered the questions in our comments already, at least those that we can answer in detail but that's being asked for. So we are good at this point I think to turn it back over to moderator.

Well is it safe to say that they can call you say Sam if anything?

Absolutely.

Okay. 318867150 ask for Sam or ask for Bush I guess. That should catch you in the right place. And with that we just want our moderator do the wrap up for us, or maybe now. Sam do you want to do the wrap up?

I guess so.

Thank you all for joining us on this conference call. This has been a little erratic today and it’s a free form as we are going to do. The tapes will be available in a dial in number and will be posted on our website once the transcript is ready and thank you all for joining our third quarter Saga earnings call.

Thank you Ed for wrapping it up for us.

And that does conclude our conference for today, we thank you for your participation and for using the AT&T executive teleconference, you may now disconnect.