Acquisitions (Tables)

12 Months Ended

Dec. 31, 2015

Fair values of assets acquired and liabilities assumed

The following table summarizes the preliminary fair values of the assets acquired and liabilities assumed at the Acquisition Date. Certain estimated values for the Acquisition, including goodwill, investments, intangibles and deferred taxes are not yet finalized. Therefore, the preliminary purchase price allocations are subject to change as we complete our analysis of the fair value at the Acquisition Date. The purchase price was allocated based on information available at the Acquisition Date.

(in thousands)
Balance Sheet Classification	Fair Value
Cash consideration transferred	$	652,365
Recognized amounts of identifiable assets acquired and liabilities assumed:
Assets acquired:
Cash and cash equivalents		105,714
Restricted cash		7,342
Accounts receivable		110,387
Other current assets		21,592
Property and equipment		92,133
Programs and program licenses		79,211
Other intangible assets		760,636
Investments		354,719
Liabilities assumed:		—
Accounts payable		(28,941	)
Program rights payable (current portion)		(19,395	)
Deferred revenue		(2,132	)
Employee compensation and benefits		(27,896	)
Accrued marketing and advertising		(543	)
Other accrued liabilities		(64,224	)
Deferred income taxes		(43,530	)
7.88% 2018 Senior Notes		(128,577	)
7.38% 2020 Senior Notes		(528,205	)
11.00%/12.00% 2021 PIK Toggle Notes		(409,549	)
Term Loan		(18,178	)
Program rights payable (less current portion)		(3,492	)
Other liabilities (less current portion)		(5,624	)
Non-controlling interest		(858,530	)
Goodwill		1,259,447
Net Assets Acquired	$	652,365

Fair value of identifiable intangible assets

The following table represents the preliminary fair value of identifiable intangible assets and their assumed estimated useful lives.


(in thousands) Intangible Asset Category	Type	Weighted Average Life in Years		Fair Value
Copyrights and other tradenames	Amortizable	23		$	333,912
Broadcast licenses	Amortizable		25		128,017
Customer lists	Amortizable		15		26,670
Advertiser lists	Amortizable		7		106,681
Acquired rights and other	Amortizable		20		165,356
				$	760,636

Pro forma Results

	For the years ended
(in thousands)	December 31,
Pro Forma Results (unaudited)	2015		2014
Pro Forma Revenues	$	3,236,344	$	3,166,652
Pro forma net income attributable to SNI	$	584,618	$	499,767
Pro forma net income attributable to SNI per basic share of common stock	$	4.51	$	3.54
Pro forma net income attributable to SNI per diluted share of common stock	$	4.49	$	3.51
Weighted average basic shares outstanding		129,665		141,297
Weighted average diluted shares outstanding		130,255		142,193