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Goodwill and Intangible Assets, Net
 12 Months Ended
Jun. 30, 2021
Goodwill And Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets, Net

NOTE 8. GOODWILL AND INTANGIBLE ASSETS, NET

The changes in the carrying values of the Company’s intangible assets and related accumulated amortization were as follows:

 

 

 

Intangible assets not subject to amortization

 

 

 

 

 

 

 

 

 

 

 

FCC

licenses

 

 

Other

 

 

Total

 

 

Amortizable

intangible

assets, net(a)

 

 

Total

intangible

assets,

net

 

 

 

(in millions)

 

Balance, June 30, 2019

 

$

2,167

 

 

$

642

 

 

$

2,809

 

 

$

42

 

 

$

2,851

 

Acquisitions(b)

 

 

113

 

 

 

-

 

 

 

113

 

 

 

300

 

 

 

413

 

Disposals(b)

 

 

(30

)

 

 

-

 

 

 

(30

)

 

 

-

 

 

 

(30

)

Amortization

 

 

-

 

 

 

-

 

 

 

-

 

 

 

(36

)

 

 

(36

)

Balance, June 30, 2020

 

$

2,250

 

 

$

642

 

 

$

2,892

 

 

$

306

 

 

$

3,198

 

Acquisitions(b)

 

 

-

 

 

 

-

 

 

 

-

 

 

 

19

 

 

 

19

 

Amortization

 

 

-

 

 

 

-

 

 

 

-

 

 

 

(63

)

 

 

(63

)

Balance, June 30, 2021

 

$

2,250

 

 

$

642

 

 

$

2,892

 

 

$

262

 

 

$

3,154

 

 

(a)

Net of accumulated amortization of $228 million and $165 million as of June 30, 2021 and 2020, respectively.

(b)

See Note 3—Acquisitions, Disposals and Other Transactions under the heading “Acquisitions and Disposals.”

Amortization related to finite-lived intangible assets was $63 million, $36 million and $15 million for fiscal 2021, 2020 and 2019, respectively.

Based on the balance of finite-lived intangible assets as of June 30, 2021, the estimated amortization expense for each of the succeeding five fiscal years is as follows:

 

 

 

For the years ending June 30,

 

 

 

2022

 

 

2023

 

 

2024

 

 

2025

 

 

2026

 

 

 

(in millions)

 

Estimated amortization expense(a)

 

$

56

 

 

$

52

 

 

$

35

 

 

$

28

 

 

$

27

 

 

(a)

These amounts may vary as acquisitions and dispositions occur in the future.

The changes in the carrying value of goodwill, by segment, are as follows:

 

 

 

Cable Network Programming

 

 

Television

 

 

Other,

Corporate

and

Eliminations

 

 

Total Goodwill

 

 

 

(in millions)

 

Balance, June 30, 2019

 

$

987

 

 

$

1,704

 

 

$

-

 

 

$

2,691

 

Acquisitions(a)

 

 

45

 

 

 

462

 

 

 

222

 

 

 

729

 

Disposals(a)

 

 

-

 

 

 

(11

)

 

 

-

 

 

 

(11

)

Balance, June 30, 2020

 

$

1,032

 

 

$

2,155

 

 

$

222

 

 

$

3,409

 

Acquisitions(a)

 

 

32

 

 

 

-

 

 

 

-

 

 

 

32

 

Disposals(a)

 

 

(5

)

 

 

-

 

 

 

(1

)

 

 

(6

)

Balance, June 30, 2021

 

$

1,059

 

 

$

2,155

 

 

$

221

 

 

$

3,435

 

 

(a)

See Note 3—Acquisitions, Disposals and Other Transactions under the heading “Acquisitions and Disposals.”

The carrying amount of Television segment goodwill was net of accumulated impairments of $371 million as of June 30, 2021 and 2020.