PROGRAMMING RIGHTS, NET

9 Months Ended

Sep. 30, 2011

5. PROGRAMMING RIGHTS, NET

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

			December 31, 2010			September 30, 2011

Internally produced—TV broadcasting and theatrical:
	Released:
		Historical cost	$	88,828		$	103,504
		Accumulated amortization		(70,266	)		(88,934	)

	Released, net book value			18,562			14,570

	Completed and not released			3,356			6,985
	In production			460			1,817

Total				22,378			23,372

Acquired rights:
	Historical cost			487,947			507,181
	Accumulated amortization			(339,666	)		(351,571	)

Net book value				148,281			155,610

Total programming rights			$	170,659		$	178,982

Current portion			$	95,026		$	81,367

Non-current portion			$	75,633		$	97,615

The Company expects to amortize approximately $20,100 of internally produced TV programming for its completed and released programs and completed but not yet released programs during the twelve months ending September 30, 2012. In addition, the Company expects to amortize all of its unamortized internally produced programming rights within the three years following September 30, 2011.

The Company recognized impairment charges on programming rights of $4,148 and $7,150 for the three months ended September 30, 2010 and 2011, respectively, and $12,974 and $24,002 during the nine months ended September 30, 2010 and 2011, respectively. The impairment charges are included in amortization of programming rights in the accompanying condensed consolidated statements of income.