Goodwill and Intangible Assets

6 Months Ended

Jun. 30, 2014

Note 4. Goodwill and Intangible Assets

Goodwill and intangible assets consist of the following at June 30, 2014 and December 31, 2013 (amounts in thousands):

	June 30, 2014		December 31, 2013
Broadcast license	$	41,356	$	41,356
Goodwill	164,887		130,794
Other intangibles	98,848		34,610
Total intangible assets	$	305,091	$	206,760

A summary of the changes in goodwill and other indefinite-lived intangible assets for the six months ended June 30, 2014 is as follows (amounts in thousands):

	Net Balance at December 31, 2013		Additions		Impairment		Net Balance at June 30, 2014
Broadcast license	$	41,356	$	—	$	—	$	41,356
Goodwill	130,794		34,093		—		164,887
Brands	—		15,986		—		15,986
Other intangibles	700		10		—		710
Total indefinite-lived intangibles	$	172,850	$	50,089	$	—	$	222,939

A summary of the changes in other amortizable intangible assets for the six months ended June 30, 2014 is as follows (amounts in thousands):

	Net Balance at December 31, 2013		Additions		Amortization			Net Balance at June 30, 2014
Affiliate relationships	$	33,910	$	46,014	$	(4,711	)	$	75,213
Advertiser relationships	—		3,310		(166		)	3,144
Non-compete agreement	—		3,294		(137		)	3,157
Other intangibles	—		1,141		(503		)	638
Total Finite-lived intangibles	$	33,910	$	53,759	$	(5,517	)	$	82,152

At June 30, 2014, the amortization term for the affiliate relationships was five to eight years, for advertiser relationships and the non-compete agreement the amortization term was six years, and for all other finite-lives intangibles the amortization term was one year or less.

The aggregate amortization expense of amortizable intangible assets was $3.9 million and $1.6 million for the three months ended June 30, 2014 and 2013, respectively, and $5.5 million and $1.7 million for the six months ended June 30, 2014 and 2013, respectively. The weighted average remaining amortization period was 6.4 years at June 30, 2014.

Future estimated amortization expense is as follows (amounts in thousands):

Year Ending December 31,	Amount
Remainder 2014	$	7,186
2015	13,522
2016	13,399
2017	13,227
2018	13,169
2019	8,432
2020 and thereafter	13,217
	$	82,152

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

+ References+ Details