Goodwill and intangible assets

3 Months Ended

Mar. 31, 2018

Note 4. Goodwill and intangible assets

Goodwill and intangible assets consist of the following at March 31, 2018 and December 31, 2017 (amounts in thousands):

	March 31,		December 31,
	2018		2017
Broadcast license	$	41,356	$	41,356
Goodwill	164,887		164,887
Other intangibles	48,380		51,661

Total intangible assets	$	254,623	$	257,904

A summary of changes in the Company’s goodwill and other indefinite-lived intangible assets, on a net basis, for the three months ended March 31, 2018 is as follows (amounts in thousands):

	Net Balance at December 31, 2017		Additions		Impairment		Net Balance at March 31, 2018
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 three months ended March 31, 2018 is as follows (amounts in thousands):

	Net Balance at December 31, 2017		Additions		Amortization			Net Balance at March 31, 2018
Affiliate relationships	$	32,343	$	—	$	(3,017	)	$	29,326
Advertiser relationships	1,240		—		(138		)	1,102
Non-compete agreement	1,235		—		(137		)	1,098
Other intangibles	157		33		(22		)	168

Total finite-lived intangibles	$	34,975	$	33	$	(3,314	)	$	31,694

The aggregate amortization expense of the Company’s amortizable intangible assets was $3.3 million and $3.4 million for the three months ended March 31, 2018 and 2017, respectively. The weighted average remaining amortization period is 3.3 years at March 31, 2018.

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

Year Ending December 31,	Amount
Remainder of 2018	$	9,933
2019	8,497
2020	6,069
2021	5,757
2022 and thereafter	1,438

Total	$	31,694

- 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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