Acquired Intangible Assets and Goodwill (Tables)

12 Months Ended

Oct. 31, 2012

Acquired Intangible Assets and Goodwill [Abstract]

Acquired intangible assets and goodwill

	2012				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		1,026,935		2,451,073		904,837
Advertising and subscriber base		4,989,768		1,952,322		4,989,768		1,804,660
Other		564,946		541,236		564,946		518,238
		9,005,787		4,520,493		9,005,787		4,227,735
Unamortizable intangible assets:
Goodwill		3,964,600		507,278		13,475,533		507,278
Trademark and masthead		2,091,022		-		3,648,972		-
		6,055,622		507,278		17,124,505		507,278
Total goodwill and other intangibles	$	15,061,409	$	5,027,771	$	26,130,292	$	4,735,013

Estimated amortization expense

Amortization expense for the years ended October 31, 2012, 2011 and 2010 was $293,000, $417,000, and $450,000 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 16 years. Estimated amortization expense for each of the following years is:

2013	$	287,261
2014		275,970
2015		269,761
2016		269,761
2017		269,761
Thereafter		3,112,780
	$	4,485,294

Changes in the carrying amount of goodwill

The changes in the carrying amount of goodwill, trademark and masthead and other amortizing intangibles for the years ended October 31, 2012 and 2011 were:

Goodwill:

	Printing		Office Products and Furniture		Newspaper			Total
Balance at October 31, 2010
Goodwill	$	2,226,837	$	1,230,485	$	35,437,456		$	38,894,778
Accumulated Impairment Losses		-		-		(23,562,495	)		(23,562,495	)
		2,226,837		1,230,485		11,874,961			15,332,283
Goodwill acquired Fiscal 2011		-		-		-			-
Impairment losses Fiscal 2011		-		-		(2,364,028	)		(2,364,028	)
Balance at 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 Fiscal 2012		-		-		-			-
Impairment losses Fiscal 2012		-		-		(9,510,933	)		(9,510,933	)
Balance at October 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 at October 31, 2010
Trademark and Masthead	$	-	$	-	$	18,515,316		$	18,515,316
Accumulated Impairment Losses		-		-		(8,513,504	)		(8,513,504	)
		-		-		10,001,812			10,001,812
Trademark and Masthead acquired Fiscal 2011		-		-		-			-
Impairment losses Fiscal 2011		-		-		(6,352,840	)		(6,352,840	)
Balance at 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 Fiscal 2012		-		-		-			-
Impairment losses Fiscal 2012		-		-		(1,557,950	)		(1,557,950	)
Balance at October 31, 2012
Trademark and Masthead		-		-		18,515,316			18,515,316
Accumulated Impairment Losses		-		-		(16,424,294	)		(16,424,294	)
	$	-	$	-	$	2,091,022		$	2,091,022

Amortizing Intangible Assets (net of amortization expense):

	Printing		Office Products and Furniture		Newspaper			Total
Balance at October 31, 2010
Amortizing Intangible Assets (net of amortization expense)	$	673,979	$	1,188,608	$	12,384,258		$	14,246,845
Accumulated Impairment Losses		-		-		(9,051,484	)		(9,051,484	)
		673,979		1,188,608		3,332,774			5,195,361
Amortizing Intangible Assets (net of amortization expense) acquired Fiscal 2011		-		-		-			-
Impairment losses Fiscal 2011		-		-		-			-
Amortization expense		109,281		160,362		147,666			417,309
Balance at 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 acquired in Fiscal 2012		-		-		-			-
Impairment losses Fiscal 2012		-		-		-			-
Amortization expense		63,977		81,119		147,662			292,758
Balance at October 31, 2012
Amortizing intangible		500,721		947,127		12,088,930			13,536,778
Accumulated Impairment		-		-		(9,051,484	)		(9,051,484	)
	$	500,721	$	947,127	$	3,037,446		$	4,485,294

Impairment charges

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

		2012		2011		2010
Goodwill	$	9,510,933	$	2,364,028	$	-
Other intangibles		-		-		-
Trademark & masthead		1,557,950		6,352,840		-
	$	11,068,883	$	8,716,868	$	-