Acquired Intangible Assets and Goodwill (Tables)

9 Months Ended

Jul. 31, 2012

Acquired Intangible Assets and Goodwill [Abstract]

Acquired Intangible Assets and Goodwill

11. Acquired Intangible Assets and Goodwill

	July 31, 2012				October 31, 2011
	Gross				Gross
	Carrying		Accumulated		Carrying		Accumulated
	Amount		Amortization		Amount		Amortization
Amortizable intangible assets:
Non-compete agreement	$	1,000,000	$	1,000,000	$	1,000,000	$	1,000,000
Customer relationships		2,451,073		996,410		2,451,073		904,837
Advertising and subscriber base		4,989,768		1,915,407		4,989,768		1,804,660
Other		564,946		536,863		564,946		518,238
		9,005,787		4,448,680		9,005,787		4,227,735
Unamortizable intangible assets:
Goodwill		3,964,600		507,278		13,475,533		507,278
Trademark and masthead		3,648,972		-		3,648,972		-
		7,613,572		507,278		17,124,505		507,278
Total goodwill and other intangibles	$	16,619,359	$	4,955,958	$	26,130,292	$	4,735,013

Estimated amortization expense for each of the following fiscal years

Amortization expense for the three and nine months ended July 31, 2012 was $71,817 and $220,945 and for the three and nine months ended July 31, 2011 was $110,279 and $330,836, respectively. A non-compete agreement is being amortized over a period of seven years and the customer relationships are being amortized over a period of 20 years. These items are both related to the acquisition of Syscan in 2004. The advertising and subscribers bases related to the acquisition of The Herald-Dispatch are being amortized over 25 and 20 years respectively. The trademark and masthead associated with the acquisition of The Herald-Dispatch are non-amortizing assets. The weighted average remaining life of the Company's amortizable intangible assets was approximately 17 years at July 31, 2012. Estimated amortization expense for each of the following fiscal years at July 31, 2012:

Ending October 31,
2012	$	71,814
2013		287,261
2014		275,970
2015		269,761
2016		269,761
Thereafter		3,382,540
	$	4,557,107

Changes in the carrying amount of goodwill

Goodwill:

	Printing		Office Products and Furniture		Newspaper			Total
Balance as of October 31, 2011
Goodwill	$	2,226,837	$	1,230,485	$	35,437,456		$	38,894,778
Accumulated impairment losses		-		-		(25,926,523	)		(25,926,523	)
		2,226,837		1,230,485		9,510,933			12,968,255
Goodwill acquired nine months ended July 31, 2012		-		-		-			-
Impairment losses nine months ended July 31, 2012		-		-		(9,510,933	)		(9,510,933	)
Balance at July 31, 2012
Goodwill		2,226,837		1,230,485		35,437,456			38,894,778
Accumulated impairment losses		-		-		(35,437,456	)		(35,437,456	)
	$	2,226,837	$	1,230,485	$	-		$	3,457,322

Changes in the carrying amount of trademark and masthead, and other amortizing intangibles

Trademark and Masthead:

	Printing		Office Products and Furniture		Newspaper			Total
Balance as of October 31, 2011
Trademark and masthead	$	-	$	-	$	18,515,316		$	18,515,316
Accumulated impairment losses		-		-		(14,866,344	)		(14,866,344	)
		-		-		3,648,972			3,648,972
Trademark and masthead acquired nine months ended July 31, 2012		-		-		-			-
Impairment losses nine months ended July 31, 2012		-		-		-			-
Balance at July 31, 2012
Trademark and masthead		-		-		18,515,316			18,515,316
Accumulated impairment losses		-		-		(14,866,344	)		(14,866,344	)
	$	-	$	-	$	3,648,972		$	3,648,972

Amortizing Intangible Assets (net of amortization expense):

	Printing		Office Products and Furniture		Newspaper			Total
Balance as of October 31, 2011
Amortizing intangible assets (net of amortization expense)	$	564,698	$	1,028,246	$	12,236,592		$	13,829,536
Accumulated impairment losses		-		-		(9,051,484	)		(9,051,484	)
		564,698		1,028,246		3,185,108			4,778,052
Amortizing intangible assets acquired nine months ended July 31, 2012		-		-		-			-
Impairment losses nine months ended July 31, 2012		-		-		-			-
Amortization expense nine months ended July 31, 2012		79,522		30,676		110,747			220,945
Balance at July 31, 2012
Amortizing intangible assets (net of amortization expense)		485,176		997,570		12,125,845			13,608,591
Accumulated impairment losses		-		-		(9,051,484	)		(9,051,484	)
	$	485,176	$	997,570	$	3,074,361		$	4,557,107

Impairment charges

A summary of impairment charges is included in the table below:

		Nine months end July 31,
		2012		2011
Goodwill	$	9,510,933	$	-
Other intangibles		-		-
Trademark & masthead		-		-
	$	9,510,933	$	-