Goodwill and intangible assets

9 Months Ended

Sep. 30, 2017

Note 4. Goodwill and intangible assets

Goodwill and intangible assets consist of the following at September 30, 2017 and December 31, 2016 (amounts in thousands):

	September 30,		December 31,
	2017		2016
Broadcast license	$	41,356	$	41,356
Goodwill	164,887		164,887
Other intangibles	54,967		64,849

Total intangible assets	$	261,210	$	271,092

A summary of changes in the Company’s goodwill and other indefinite-lived intangible assets, on a net basis, for the nine months ended September 30, 2017 is as follows (amounts in thousands):

	Net Balance at December 31, 2016		Additions		Impairment		Net Balance at September 30, 2017
Broadcast license	$	41,356	$	—	$	—	$	41,356
Goodwill	164,887		—		—		164,887
Brands	15,986		—		—		15,986
Other intangibles	700		—		—		700

Total indefinite-lived intangibles	$	222,929	$	—	$	—	$	222,929

A summary of the changes in the Company’s other amortizable intangible assets for the nine months ended September 30, 2017 is as follows (amounts in thousands):

	Net Balance at December 31, 2016		Additions		Amortization			Net Balance at September 30, 2017
Affiliate relationships	$	44,468	$	—	$	(9,109	)	$	35,359
Advertiser relationships	1,792		—		(414		)	1,378
Non-compete agreement	1,784		—		(412		)	1,372
Other intangibles	119		85		(32		)	172

Total finite-lived intangibles	$	48,163	$	85	$	(9,967	)	$	38,281

The aggregate amortization expense of the Company’s amortizable intangible assets was $3.3 million and $3.4 million for the three months ended September 30, 2017 and 2016, respectively, and $10.0 million and $10.1 million for the nine months ended September 30, 2017 and 2016, respectively. The weighted average remaining amortization period is 3.6 years at September 30, 2017.

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

Year Ending December 31,	Amount
Remainder of 2017	$	3,318
2018	13,234
2019	8,483
2020	6,057
2021 and thereafter	7,189

	$	38,281

- 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.

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