GOODWILL AND OTHER INTANGIBLE ASSETS

12 Months Ended

Dec. 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

NOTE 10. GOODWILL AND OTHER INTANGIBLE ASSETS

Intangible Assets

The following table summarizes intangible assets by category (in thousands):



	December 31, 2019							December 31, 2018
	Gross Amount		Accumulated Amortization			Net Amount		Gross Amount		Accumulated Amortization			Net Amount
Finite-lived intangible assets
Domain names	$	1,256	$	(874	)	$	382	$	1,256	$	(801	)	$	455
Media content and broadcast rights	—		—			—		1,350		(923		)	427
Other intangible assets	68		(68		)	—		68		(68		)	—
	$	1,324	$	(942	)	$	382	$	2,674	$	(1,792	)	$	882
Indefinite-lived intangible assets
License to operate in China	127					127		128					128
Total intangible assets	$	1,451				$	509	$	2,802				$	1,010

For the year ended December 31, 2019 and 2018, total amortization expense was $0.3 million and $0.7 million, respectively.

During the fourth quarter of 2019, we decided that we would no longer create content that could make use of the intangible asset related to media content and broadcast rights. As a result, we determined that the remaining portion of such intangible asset was impaired based on revised cash flow estimates, so we recognized an impairment loss of approximately $0.2 million.

During the fourth quarter of 2018, we decided that we would outsource video production to a third party. As a result, we determined that the remaining intangible asset related to the CBG Acquisition was impaired based on revised cash flow estimates, so we recognized an impairment loss of approximately $0.6 million.

On December 18, 2018, we and Simply FinTech, Inc. (“Simply FinTech”) entered into a quitclaim agreement (the “Simply FinTech Agreement”) under which we sold the Banks.com domain name and related rights and property to Simply FinTech. Pursuant to the Simply FinTech Agreement, in exchange for the assets we sold to Simply FinTech, we received $0.5 million in cash. We recognized a gain of approximately $0.4 million on the sale, which we reported in Other gain (loss) on our 2018 Consolidated Statement of Operations and Comprehensive Loss.

The following table presents the aggregate amortization expense related to finite-lived intangible assets for the next five years (in thousands):



For the year ending December 31:	Amount
2020	$	73
2021	73
2022	73
2023	73
Thereafter	90

Goodwill

We had no goodwill as of December 31, 2019. The following table summarizes the changes in goodwill during the year ended December 31, 2018 (in thousands):



	Year Ended December 31, 2018
		Corporate Entity and Other Business Units			Total
Balance at beginning of period		$	1,585		$	1,585
Impairment of goodwill		(1,585		)	(1,585		)
Balance at end of period		$	—		$	—

Our sale of substantially all of Banks.com’s remaining assets during the fourth quarter of 2018 prompted us to record the impairment of goodwill noted in the table above, as we determined at that time that we would not operate the Banks.com business in the future.