PROGRAMMING RIGHTS, NET

6 Months Ended

Jun. 30, 2011

5. PROGRAMMING RIGHTS, NET

Programming rights as of December 31, 2010 and June 30, 2011 comprise the following:

			December 31, 2010			June 30, 2011

Internally produced—TV broadcasting and theatrical:
	Released:
		Historical cost	$	88,828		$	105,491
		Accumulated amortization		(70,266	)		(93,437	)

	Released, net book value			18,562			12,054

	Completed and not released			3,356			10,068
	In production			460			1,756

Total				22,378			23,878

Acquired rights:
	Historical cost			487,947			569,337
	Accumulated amortization			(339,666	)		(401,161	)

Net book value				148,281			168,176

Total programming rights			$	170,659		$	192,054

Current portion			$	95,026		$	83,416

Non-current portion			$	75,633		$	108,638

The Company expects to amortize approximately $19,962 of internally produced TV programming for its completed and released programs and completed but not yet released programs during the twelve months ending June 30, 2012. In addition, the Company expects to amortize all of its unamortized internally produced programming rights within the three years following June 30, 2011.

The Company recognized impairment charges on programming rights of $5,729 and $8,216 for the three months ended June 30, 2010 and 2011, respectively, and $8,826 and $16,852 during the six months ended June 30, 2010 and 2011, respectively. The impairment charges are included in amortization of programming rights in the accompanying condensed consolidated statements of income.