##### Table of Contents



UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
 WASHINGTON, D.C. 20549
 FORM 10-Q
 (Mark One)
 þ
    
    Quarterly report under Section 13 or 15(d) of the Securities Exchange Act of 1934
 For the quarterly period ended June 30, 2008
 o
    
    Transition report under Section 13 or 15(d) of the Exchange Act
 For the transition period from  to
 Commission File Number 001-33252
 Juniper Content Corporation
  Delaware
    
    20-2278320(State or other Jurisdiction of 
Incorporation or Organization)
    
    (I.R.S. Employer
Identification No.)
 521 Fifth Avenue, Suite 822, New York, New York 10175
   (Issuers Telephone Number, Including Area Code)
 þ o
  Large accelerated filer o
    
    Accelerated filer o
    
    Non-accelerated filer   o
(Do not check if a smaller reporting company)
    
    Smaller Reporting Company þ
 o þ




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##### 



Part I. Financial Information:Item 1  Financial Statements (Unaudited):Unaudited Condensed Consolidated Balance Sheets
    
    
    2Unaudited Condensed Consolidated Statements of Operations
    
    
    3Unaudited Condensed Consolidated Statement of Stockholders Equity
    
    
    4Unaudited Condensed Consolidated Statements of Cash Flows
    
    
    5Notes to Unaudited Condensed Consolidated Financial Statements
    
    
    6Item 2  Managements Discussion and Analysis of Financial Condition
and Results of Operations
    
    
    15Item 3  Controls and Procedures
    
    
    27Part II. Other Information:Item 4  Exhibits
    
    
    28Signatures
    
    
    29EX-31.1: CERTIFICATIONEX-31.2: CERTIFICATIONEX-32: CERTIFICATIONS
  1




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##### Table of Contents



Juniper Content Corporation
 
 Condensed Consolidated Balance Sheets
 June 30,
    
    
    December 31,2008
    
    
    2007(Unaudited)ASSETSCurrent assets:Cash and cash equivalents
    
    $
    3,048,477
    
    
    $
    5,251,163Accounts receivable, net
    
    
    266,689
    
    
    
    232,621Programming rights
    
    
    219,954
    
    
    
    153,392Prepaid expenses and other current assets
    
    
    230,880
    
    
    
    150,348Total current assets
    
    
    3,766,000
    
    
    
    5,787,524Long term assets:Programming assets, net
    
    
    16,029
    
    
    
    19,591Property and equipment, net
    
    
    2,543,591
    
    
    
    2,715,515Restricted cash
    
    
    94,710
    
    
    
    94,092Intangible assets, net (Note 6)
    
    
    8,824,537
    
    
    
    10,160,342Goodwill, net (Note 6)
    
    
    157,166
    
    
    
    157,166Other assets
    
    
    57,495
    
    
    
    57,495Programming rights long term
    
    
    328,401
    
    
    
    125,644Total assets
    
    $
    15,787,929
    
    
    $
    19,117,369LIABILITIES AND STOCKHOLDERS EQUITYCurrent liabilities:Accounts payable and accrued expenses
    
    $
    1,357,614
    
    
    $
    1,190,158Deferred revenue
    
    
    49,602
    
    
    
    44,847Programming obligations
    
    
    378,933
    
    
    
    177,642Income taxes payable
    
    
    
    
    
    
    38,803Total current liabilities
    
    
    1,786,149
    
    
    
    1,451,450Long term liabilities:Long-term debt, related party, net of debt discount of $311,113 and $356,092 as of
June 30, 2008 and December 31, 2007, respectively (Note 8)
    
    
    2,687,564
    
    
    
    2,642,585Programming obligations
    
    
    
    
    
    
    37,125Deferred rent
    
    
    16,620
    
    
    
    9,199Deferred tax liability, net
    
    
    193,054
    
    
    
    947,343Total liabilities
    
    
    4,683,387
    
    
    
    5,087,702Commitments and contingenciesStockholders equity (Note 7 and 9)Preferred stock, par value $.0001 per share, 2,000 shares authorized,
0 shares issuedSeries A Preferred stock, par value $.0001 per share, 3,000 shares
authorized, 691 shares issuedCommon stock, par value $.0001 per share, 35,000,000 shares
authorized, 5,618,127 shares issued and outstanding
    
    
    562
    
    
    
    562Additional paid-in capital
    
    
    22,296,828
    
    
    
    20,174,023Accumulated deficit
    
    
    (11,192,848
    )
    
    
    (6,144,918
    )Total stockholders equity
    
    
    11,104,542
    
    
    
    14,029,667Total liabilities and stockholders equity
    
    $
    15,787,929
    
    
    $
    19,117,369
  2




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##### Table of Contents



Juniper Content Corporation
 
 Condensed Consolidated Statements of Operations
 For the
    
    
    
    
    
    
    
    
    
    
    
    PredecessorThree
    
    
    For the Six
    
    
    For the Six
    
    
    
    For theMonths
    
    
    Months
    
    
    Months
    
    
    
    Nineteen DayFor the Three
    
    
    Ended
    
    
    Ended
    
    
    Ended
    
    
    
    PeriodMonths Ended
    
    
    June 30,
    
    
    June 30,
    
    
    June 30,
    
    
    
    EndedJune 30, 2008
    
    
    2007
    
    
    2008
    
    
    2007
    
    
    
    January 19,(Unaudited)
    
    
    (Unaudited)
    
    
    (Unaudited)
    
    
    (Unaudited)
    
    
    
    2007Revenues
    
    $
    594,004
    
    
    $
    583,755
    
    
    $
    1,171,758
    
    
    $
    1,088,740
    
    
    
    $
    116,692Expenses:Operating cost of services
    
    
    840,676
    
    
    
    799,778
    
    
    
    1,714,494
    
    
    
    1,312,072
    
    
    
    
    105,768Selling, general and
administrative (Note 7)
    
    
    1,713,402
    
    
    
    1,368,294
    
    
    
    3,382,377
    
    
    
    2,531,848
    
    
    
    
    93,091Advertising
    
    
    199,177
    
    
    
    122,161
    
    
    
    265,311
    
    
    
    168,410
    
    
    
    
    Depreciation and amortization
    
    
    768,422
    
    
    
    630,173
    
    
    
    1,527,645
    
    
    
    1,102,634
    
    
    
    
    25,845Loss from operations
    
    
    (2,927,673
    )
    
    
    (2,336,651
    )
    
    
    (5,718,069
    )
    
    
    (4,026,224
    )
    
    
    
    (108,012
    )Other income (expenses):Other income, net
    
    
    
    
    
    
    23,828
    
    
    
    
    
    
    
    34,306
    
    
    
    
    82,621Interest income
    
    
    11,187
    
    
    
    109,382
    
    
    
    35,796
    
    
    
    232,232Interest expense
    
    
    (59,973
    )
    
    
    (36,952
    )
    
    
    (119,947
    )
    
    
    (67,415
    )
    
    
    
    (21,946
    )Total other income (expense)
    
    
    (48,786
    )
    
    
    96,258
    
    
    
    (84,151
    )
    
    
    199,123
    
    
    
    
    60,675Loss before benefit for income taxes
    
    
    (2,976,459
    )
    
    
    (2,240,393
    )
    
    
    (5,802,220
    )
    
    
    (3,827,101
    )
    
    
    
    (47,337
    )Benefit for income taxes
    
    
    385,220
    
    
    
    1,202,255
    
    
    
    754,289
    
    
    
    1,336,991
    
    
    
    
    Net loss
    
    $
    (2,591,239
    )
    
    $
    (1,038,138
    )
    
    $
    (5,047,931
    )
    
    $
    (2,490,110
    )
    
    
    $
    (47,337
    )
 Weighted average number
of shares outstanding,
basic and diluted
    
    
    5,618,127
    
    
    
    5,618,127
    
    
    
    5,618,127
    
    
    
    5,508,815Loss per share, basic and
diluted
    
    $
    (0.46
    )
    
    $
    (0.18
    )
    
    $
    (0.90
    )
    
    $
    (0.45
    )
  3




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##### Table of Contents



Juniper Content Corporation
 
 Unaudited Condensed Consolidated Statement of Stockholders Equity
 For the Six Months Ended June 30, 2008
 Series ACommon Stock
    
    Preferred Stock
    
    Additional
    
    RetainedShares
    
    Amount
    
    Shares
    
    Amount
    
    Paid-in capital
    
    Earnings
    
    TotalBalance,January 1, 2008
    
    
    5,618,127
    
    
    $
    562
    
    
    
    
    
    
    
    
    
    
    $
    20,174,023
    
    
    $
    (6,144,917
    )
    
    $
    14,029,668Share based compensation
(Note 5)
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    161,550
    
    
    
    
    
    
    
    161,550Series A preferred
stock in private
placement (Note 9)
    
    
    
    
    
    
    
    
    
    
    691
    
    
    
    
    
    
    
    2,210,000
    
    
    
    
    
    
    
    2,210,000Transaction Fees
relating to private
placement (Note 9)
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    (248,745
    )
    
    
    
    
    
    
    (248,745
    )Net loss for the period
(Unaudited)
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    (5,047,931
    )
    
    
    (5,047,931
    )Balance,June 30, 2008
(Unaudited)
    
    
    5,618,127
    
    
    $
    562
    
    
    
    691
    
    
    
    
    
    
    $
    22,296,828
    
    
    $
    (11,192,848
    )
    
    $
    11,104,542
  4




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##### Table of Contents



Juniper Content Corporation
 
 Condensed Consolidated Statements of Cash Flows
 PredecessorFor theFor the Six
    
    
    
    Nineteen DayFor the Six
    
    
    Months
    
    
    
    Period EndedMonths Ended
    
    
    Ended June
    
    
    
    January 19,June 30, 2008
    
    
    30, 2007
    
    
    
    2007(Unaudited)
    
    
    (Unaudited)OPERATING ACTIVITIESNet loss for the period
    
    $
    (5,047,931
    )
    
    $
    (2,490,110
    )
    
    
    $
    (47,337
    )Adjustments to reconcile net loss to net cash used in operating
activities:Depreciation and amortization
    
    
    1,527,645
    
    
    
    1,102,634
    
    
    
    
    25,845Amortization of debt discount
    
    
    44,979
    
    
    
    
    
    
    
    
    Share based compensation
    
    
    161,550
    
    
    
    248,993
    
    
    
    
    Loss on disposal of fixed assets
    
    
    10,106
    
    
    
    
    
    
    
    
    Bad debt recovery
    
    
    3,835
    
    
    
    
    
    
    
    
    Deferred income taxes
    
    
    (754,289
    )
    
    
    (1,336,991
    )
    
    
    
    Amortization of favorable leases
    
    
    59,508
    
    
    
    Amortization of discount on securities held
in Trust Fund
    
    
    
    
    
    
    (30,886
    )
    
    
    
    Changes in operating assets and liabilities (net of acquisition
of Firestone):Accounts receivable
    
    
    (37,903
    )
    
    
    (32,484
    )
    
    
    
    44,222Programming rights
    
    
    (269,319
    )
    
    
    66,839
    
    
    
    
    10,764Programming assets
    
    
    3,562
    
    
    
    
    
    
    
    
    Prepaid expenses and other current assets
    
    
    (80,532
    )
    
    
    (171,565
    )
    
    
    
    315Other assets
    
    
    
    
    
    
    44
    
    
    
    
    Accounts payable and accrued expenses
    
    
    167,457
    
    
    
    (522,240
    )
    
    
    
    (80,979
    )Programming obligations
    
    
    164,166
    
    
    
    (136,635
    )
    
    
    
    Deferred revenue
    
    
    4,755
    
    
    
    21,903
    
    
    
    
    (600
    )Deferred leases
    
    
    
    
    
    
    286,414
    
    
    
    
    Income taxes payable
    
    
    (38,803
    )
    
    
    (47,000
    )
    
    
    
    Deferred rent
    
    
    7,421
    
    
    
    
    
    
    
    
    Net cash used in operating activities
    
    
    (4,073,793
    )
    
    
    (3,041,084
    )
    
    
    
    (47,770
    )INVESTING ACTIVITIESMaturities of Securities held in Trust Fund
    
    
    
    
    
    
    15,477,888
    
    
    
    
    Purchases of property and equipment
    
    
    (96,461
    )
    
    
    (249,542
    )
    
    
    
    Proceeds from sale of property and equipment
    
    
    6,931
    
    
    
    
    
    
    
    
    Merger costs paid, net of cash acquired
    
    
    
    
    
    
    (1,167,997
    )
    
    
    
    Net cash provided by (used in) investing activities
    
    
    (89,530
    )
    
    
    14,060,349
    
    
    
    
    FINANCING ACTIVITIESNet proceeds received from series preferred stock
    
    
    1,961,255
    
    
    
    
    
    
    
    
    500,000Net payments on line-of-credit
    
    
    
    
    
    
    
    
    
    
    
    (694,000
    )Payments on long term debt, related party
    
    
    
    
    
    
    
    
    
    
    
    (100,000
    )Restricted cash
    
    
    (618
    )
    
    
    (92,862
    )
    
    
    
    Payments for redemptions of Class B Common Stock
    
    
    
    
    
    
    (2,588,318
    )
    
    
    
    Proceeds from borrowings on long-term debt
    
    
    
    
    
    
    
    
    
    
    
    339,999Net cash (used in) provided by financing activities
    
    
    1,960,637
    
    
    
    (2,681,180
    )
    
    
    
    45,999Net increase (decrease) in cash and cash equivalents
    
    
    (2,202,686
    )
    
    
    8,338,085
    
    
    
    
    (1,771
    )Cash and Cash EquivalentsBeginning of period
    
    
    5,251,163
    
    
    
    75,501
    
    
    
    
    5,562End of period
    
    $
    3,048,477
    
    
    $
    8,413,586
    
    
    
    $
    3,791Supplemental disclosure of cash flow informationCash paid for income taxes
    
    $
    82,279
    
    
    $
    47,000
    
    
    
    $
    Cash paid for interest
    
    $
    74,968
    
    
    $
    67,415
    
    
    
    $
    21,946Supplemental disclosure of non-cash activityValue of common stock and warrants issued in Merger
    
    $
    
    
    
    $
    6,611,750
    
    
    
    $
    
  5




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##### Table of Contents



Juniper Content Corporation
 
 Notes to Condensed Consolidated Financial Statements
 NOTE 1  ORGANIZATION AND BUSINESS OPERATIONS
 ¡Sorpresa!
 ¡Sorpresa! ¡Sorpresa!
   ¡Sorpresa!
   ¡Sorpresa!
  6




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##### Table of Contents



Juniper Content Corporation
Notes to Condensed Consolidated Financial Statements
 NOTE 1  ORGANIZATION AND BUSINESS OPERATIONS  (CONTINUED)
 Interim Financial Statements
  Basis of Presentation of Condensed Consolidated Financial Statements
  Predecessor
  NOTE 2  SIGNIFICANT ACCOUNTING POLICIES
 Revenue Recognition
 Revenue Recognition
  7




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Juniper Content Corporation
Notes to Condensed Consolidated Financial Statements
 NOTE 2  SIGNIFICANT ACCOUNTING POLICIES  (CONTINUED)
      Accounting
for Revenue Arrangements with Multiple Deliverables
 8




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##### Table of Contents



Juniper Content Corporation
Notes to Condensed Consolidated Financial Statements
 NOTE 2  SIGNIFICANT ACCOUNTING POLICIES  (CONTINUED)
 Estimates
  Fair Value of Financial Instruments
  NOTE 3  NET LOSS PER SHARE
  NOTE 4  INCOME TAXES
 Income Taxes
   9




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Juniper Content Corporation
Notes to Condensed Consolidated Financial Statements
 NOTE 5  RECENTLY ISSUED PRONOUNCEMENTS
 Fair Value Measurements
 Business Combinations, (
 SFAS No. 160 Noncontrolling Interests in Consolidated
Financial Statements  an amendment of ARB
No. 51,
 Determination
of the Useful Life of Intangible Assets
  10




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##### Table of Contents



Juniper Content Corporation
Notes to Condensed Consolidated Financial Statements
 NOTE 6  MERGER
  Value of 2,676,127 shares of Common Stock
    
    $
    6,529,750Value of warrants
    
    
    82,000Total value of equity issued
    
    
    6,611,750Acquisition costs
    
    
    1,608,390Total purchase price
    
    $
    8,220,140
    Unaudited Pro formaFor the Six MonthsEndedJune 30, 2007Revenue
    
    $
    1,205,432Net loss before taxes
    
    
    (3,874,439
    )Net loss
    
    $
    (2,537,448
    )Basic and diluted loss per share
    
    
    (0.50
    )Weighted average common shares
outstanding (basic and diluted)
    
    
    5,113,925
 11




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##### Table of Contents



Juniper Content Corporation
Notes to Condensed Consolidated Financial Statements
 NOTE 7  SHARE-BASED COMPENSATION
 Stock-Based Compensation Plan
  OptionsNonvested at January 1, 2008
    
    
    862,000Granted
    
    
    129,500Forfeited
    
    
    (114,333
    )Outstanding at June 30, 2008
    
    
    877,167Exercisable at June 30, 2008
    
    
    343,333
   NOTE 8  RELATED PARTY TRANSACTIONS AND LONG-TERM DEBT
 ¡Sorpresa!
   12




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##### Table of Contents



Juniper Content Corporation
Notes to Condensed Consolidated Financial Statements
 NOTE 9  CAPITAL STOCK
 Preferred Stock
  Series A Preferred Stock Private Placement
     Registration Payment Arrangements
 Accounting for Registration Payment Arrangements,
(
 Common Stock
  13




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##### Table of Contents



Juniper Content Corporation
Notes to Condensed Consolidated Financial Statements
 NOTE 9  CAPITAL STOCK  (CONTINUED)
  Warrants
  Warrants
    
    Exercise Price
    
    ExpirationFounders warrantsClass W
    
    
    812,500
    
    
    $
    5.00
    
    
    February 3, 2010Class Z
    
    
    812,500
    
    
    $
    5.00
    
    
    February 3, 2012Warrants issued in connection with UPOClass W
    
    
    2,807,500
    
    
    $
    5.00
    
    
    February 3, 2010Class Z
    
    
    2,807,500
    
    
    $
    5.00
    
    
    February 3, 2012Warrants issued in connection with MergerClass W
    
    
    125,000
    
    
    $
    5.00
    
    
    February 3, 2010Class Z
    
    
    125,000
    
    
    $
    5.00
    
    
    February 3, 2012Warrants issued in connection with private placementClass A
    
    
    345,312
    
    
    $
    0.01
    
    
    February 28, 2013Class B
    
    
    172,656
    
    
    $
    2.50
    
    
    February 28, 2013Class C
    
    
    172,657
    
    
    $
    5.00
    
    
    February 28, 2013Rebate warrants
    
    
    96,688
    
    
    $
    1.00
    
    
    February 28, 20138,277,313
 14




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##### Table of Contents



ITEM 2. MANAGEMENTS DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
 The following discussion and analysis of our financial condition and results of operations
should be read in conjunction with our financial statements and related notes that appear elsewhere
in this report and in our annual report on Form 10-KSB for the year ended December 31, 2007. In
addition to historical consolidated financial information, the following discussion contains
forward-looking statements that reflect plans, estimates and beliefs of management of the Company.
When used in this document, the words anticipate, believe, plan, estimate and
expect and similar expressions, as they relate to the Company or its management, are intended
to identify forward-looking statements. Such statements reflect the current views of the Company
with respect to future events and are subject to certain risks, uncertainties and assumptions. Our
actual results could differ materially from those discussed in the forward-looking statements.
 Business Overview
 ¡Sorpresa!
 ¡Sorpresa! ¡Sorpresa!
   15




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##### Table of Contents



¡Sorpresa!
 Operational Overview
 ¡Sorpresa! ¡Sorpresa! ¡Sorpresa!
 ¡Sorpresa! ¡Sorpresa!
 Subscriber
Information
 May-08
    
    May-07
    
    Change
    
    %Period End Subscribers
    
    
    1,130,575
    
    
    
    904,653
    
    
    
    225,922
    
    
    
    25Compounded Monthly Growth Rate
    
    
    1.9
    %
    
    
    3.9
    %
 16




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##### Table of Contents



¡Sorpresa! Subscriber Growth
12 months
 
 ¡Sorpresa! Telmo and Tula: Arts and Crafts Tweenies Telmo and Tula: Little Cooks Sonic Underground Erky and Perky
 ¡Sorpresa! ¡Sorpresa!
 Sources of Revenue Overview
 Television Network: ¡Sorpresa! . ¡Sorpresa! ¡Sorpresa!
 ¡Sorpresa! ¡Sorpresa! ¡Sorpresa! . ¡Sorpresa!
 17




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##### Table of Contents



, ¡Sorpresa! , ¡Sorpresa! ¡Sorpresa!
 ¡Sorpresa! Network
 ¡Sorpresa! , ¡Sorpresa!
  18




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##### Table of Contents



Network Operations:
  Production Services:
 Expense Overview
 Operating Expenses:
 Advertising Expenses: ¡Sorpresa
 Selling, General and Administrative Expenses:
 Depreciation and Amortization Expense:
 19




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##### Table of Contents



Results of Operations
 Three and Six Months Ended June 30, 2008 Compared to the Three and Six Months Ended June 30, 2007:
 Three Months Ended
    
    Three Months Ended
    
    Six Months  Ended
    
    Six Months EndedJune 30, 2008
    
    June 30, 2007
    
    June 30, 2008
    
    June 30, 2007Revenues
    
    $
    594,004
    
    
    $
    583,755
    
    
    $
    1,171,758
    
    
    $
    1,088,740ExpensesOperating
    
    
    840,676
    
    
    
    799,778
    
    
    
    1,714,494
    
    
    
    1,312,072Selling, general and administrative
    
    
    1,713,402
    
    
    
    1,368,294
    
    
    
    3,382,377
    
    
    
    2,531,848Advertising
    
    
    199,177
    
    
    
    122,161
    
    
    
    265,311
    
    
    
    168,410Depreciation and amortization
    
    
    768,422
    
    
    
    630,173
    
    
    
    1,527,645
    
    
    
    1,102,634Operating loss
    
    
    (2,927,673
    )
    
    
    (2,336,651
    )
    
    
    (5,718,069
    )
    
    
    (4,026,224
    )Net (loss)
    
    $
    (2,591,239
    )
    
    $
    (1,038,138
    )
    
    $
    (5,047,931
    )
    
    $
    (2,490,110
    )
 Revenue
   20




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##### Table of Contents



Expenses
     ¡Sorpresa! ¡Sorpresa!
 ¡Sorpresa!
 21




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##### Table of Contents



¡Sorpresa!
   Other Income (Expense):
  Benefit
for Income Taxes:
  22




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##### Table of Contents



Liquidity and Capital Resources
 Long-Term Debt
 ¡Sorpresa! Network
  Former Class B Common Stock Conversions
   Liquidity Assessment
  ¡Sorpresa!
  23




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##### Table of Contents



Six Months Ended June 30, 2008 Compared to the Six Months Ended June 30, 2007
     Supplemental Information
 Non-Generally Accepted Accounting Principles (Non-GAAP) Basis Financial Information for the Six
Months Ended June 30, 2008 and 2007
  HistoricalJuniper Content
    
    
    
    
    
    HistoricalHistorical
    
    Corporation
    
    (1)
    
    Juniper ContentFirestone
    
    For the
    
    Combined
    
    CorporationNineteen
    
    Period from
    
    For the
    
    For theDays Ended
    
    January 20,
    
    Six Months
    
    Six MonthsJanuary 19,
    
    to June 30,
    
    Ended June 30,
    
    Ended June 30,
    
    Changes from 2007 to 20082007
    
    2007
    
    2007
    
    2008
    
    $
    
    %Revenue
    
    $
    116,692
    
    
    $
    1,088,740
    
    
    $
    1,205,432
    
    
    $
    1,171,758
    
    
    $
    (33,674
    )
    
    
    -2.79Expenses
    
    
    224,704
    
    
    
    5,114,964
    
    
    
    5,339,668
    
    
    
    6,889,827
    
    
    
    1,550,1593
    
    
    
    29.03Net loss
    
    $
    (47,337
    )
    
    $
    (2,490,110
    )
    
    $
    (2,537,447
    )
    
    $
    (5,047,931
    )
    
    $
    2,510,484
    
    
    
    98.94
 
 (1)
    
    Represents on a Non-GAAP combined basis, the sum of the results of operations of Firestone for the nineteen days ended January 19, 2007 plus our consolidated results of operations for the
six months ended June 30, 2007. 24




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##### Table of Contents



Results of Operations for the Six Months Ended June 30, 2008 as compared to the Non-GAAP Six Months
Ended June 30, 2007
  Revenues
  Six Months Ended June 30,
    
    
    Changes from 2007 to 20082008
    
    
    2007
    
    
    $
    
    
    %RevenueTelevision Network
    
    $
    691,600
    
    
    $
    566,835
    
    
    $
    124,765
    
    
    
    22
    %Network Operations
    
    
    474,746
    
    
    
    635,480
    
    
    
    (160,734
    )
    
    
    (25
    )%Production Services
    
    
    5,412
    
    
    
    3,117
    
    
    
    2,295
    
    
    
    74
    %Total Revenue
    
    $
    1,171,758
    
    
    $
    1,205,432
    
    
    $
    (33,674
    )
    
    
    (3
    %)
 Overview
  Television Network Revenue
  ¡Sorpresa!
   25




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##### Table of Contents



Network Operations Revenue
 ¡Sorpresa!.
 Production Services Revenue
  Expenses
    26




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##### Table of Contents



ITEM 3. CONTROLS AND PROCEDURES
 Evaluation of Disclosure Controls and Procedures
   Internal Control Over Financial Reporting
  Changes in Internal Control Over Financial Reporting
  27




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##### Table of Contents



PART II
 OTHER INFORMATION
 
 ITEM 4. EXHIBITS
      28




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##### Table of Contents



SIGNATURES
   JUNIPER CONTENT CORPORATION/s/ Stuart B. RekantStuart B. RekantChairman of the Board and Chief Executive

Officer /s/ Herbert J. RobertsHerbert J. RobertsSenior Vice President, Chief Financial
    Officer and Secretary 29