Goodwill and Intangible Assets

3 Months Ended

Mar. 31, 2022

Goodwill and Intangible Assets

Goodwill and Intangible Assets

Note 4. Goodwill and Intangible Assets

Goodwill and intangible assets consist of the following as of March 31, 2022 and December 31, 2021 (amounts in thousands):

	March 31,			December 31,
	2022		2021
Broadcast license	$	41,356	$	41,356
Goodwill		231,710		231,710
Other intangibles		108,866		115,110
Total intangible assets	$	381,932	$	388,176

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, 2022 is as follows (amounts in thousands):

	Net Balance at						Net Balance at
	December 31, 2021		Additions		Impairment		March 31, 2022
Broadcast license	$	41,356	$	—	$	—	$	41,356
Goodwill		231,710		—		—		231,710
Brands		15,986		—		—		15,986
Other intangibles		700		—		—		700
Total indefinite-lived intangibles	$	289,752	$	—	$	—	$	289,752

A summary of the changes in the Company’s other amortizable intangible assets for the three months ended March 31,2022 is as follows (amounts in thousands):

	Net Balance at						Net Balance at
	December 31, 2021		Additions		Amortization		March 31, 2022
Affiliate and customer relationships	$	50,681	$	—	$	(4,189)	$	46,492
Programming rights		24,981		—		(1,614)		23,367
Brands		22,762		174		(615)		22,321
Total finite-lived intangibles	$	98,424	$	174	$	(6,418)	$	92,180

The aggregate amortization expense of the Company’s amortizable intangible assets was $6.4 million and $1.6 million for the three months ended March 31, 2022 and 2021, respectively. The weighted average remaining amortization period is 5.9 years at March 31, 2022.

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

Year Ending December 31,	Amount
Remainder of 2022	$	14,972
2023		19,977
2024		19,977
2025		12,546
2026 and thereafter		24,708
Total	$	92,180