AS3 JSON String Parsing

import com.adobe.serialization.json.JSON;
 
var loader:URLLoader = new URLLoader();
var request:URLRequest = new URLRequest();
request.url = "http://parksunleashed.com/ds/mediatimer"; 
loader.load(request);
loader.addEventListener(Event.COMPLETE, decodeJSON);
 
function decodeJSON(event:Event):void {
	var loader:URLLoader = URLLoader(event.target) ;
	var str:String = loader.data;
	trace(loader.data)
	//traces out:  {"CurrentTime":15520000,"PrizingPeriods":["11:59 AM","05:59 PM","11:59 PM"]}
 
}