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Note 11 - Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2012

Goodwill and Intangible Assets Disclosure [Text Block]

11. Goodwill and Intangible Assets

We acquired low power television broadcast licenses in three of our existing markets for a total of $0.2 million during the year ended December 31, 2012. A summary of changes in our goodwill and other intangible assets, on a net basis, for the years ended December 31, 2012 and 2011 is as follows (in thousands):

	Net Balance at December 31, 2011		Additions		Impairment		Amortization			Net Balance at December 31, 2012
Goodwill	$	170,522	$	-	$	-	$	-		$	170,522
Broadcast licenses		818,981		207		-		-			819,188
Definite lived intangible assets		712		-		-		(75	)		637
Total intangible assets net of accumulated amortization	$	990,215	$	207	$	-	$	(75	)	$	990,347

	Net Balance at December 31, 2010		Additions		Impairment		Amortization			Net Balance at December 31, 2011
Goodwill		170,522	$	-	$	-	$	-		$	170,522
Broadcast licenses		818,981		-		-		-			818,981
Definite lived intangible assets		837		-		-		(125	)		712
Total intangible assets net of accumulated amortizationv	$	990,340	$	-	$	-	$	(125	)	$	990,215

A summary of changes in our goodwill, on a gross basis, for the years ended December 31, 2012 and 2011 is as follows (in thousands):

	As of December 31, 2011			Impairment		As of December 31, 2012
Goodwill, gross	$	269,118		$	-	$	269,118
Accumulated goodwill impairment		(98,596	)		-		(98,596	)
Goodwill, net	$	170,522		$	-	$	170,522

	As of December 31, 2010			Impairment		As of December 31, 2011
Goodwill, gross	$	269,118		$	-	$	269,118
Accumulated goodwill impairment		(98,596	)		-		(98,596	)
Goodwill, net	$	170,522		$	-	$	170,522

As of December 31, 2012 and 2011, our intangible assets and related accumulated amortization consisted of the following (in thousands):

	As of December 31, 2012							As of December 31, 2011
	Gross		Accumulated Amortization			Net		Gross		Accumulated Amortization			Net
Intangible assets not currently subject to amortization:
Broadcast licenses	$	872,887	$	(53,699	)	$	819,188	$	872,680	$	(53,699	)	$	818,981
Goodwill		170,522		-			170,522		170,522		-			170,522
	$	1,043,409	$	(53,699	)	$	989,710	$	1,043,202	$	(53,699	)	$	989,503

Intangible assets subject to amortization:
Network affiliation agreements	$	1,264	$	(1,264	)	$	-	$	1,264	$	(1,264	)	$	-
Other definite lived intangible assets		13,484		(12,847	)		637		13,484		(12,772	)		712
	$	14,748	$	(14,111	)	$	637	$	14,748	$	(14,036	)	$	712

Total intangibles	$	1,058,157	$	(67,810	)	$	990,347	$	1,057,950	$	(67,735	)	$	990,215

Amortization expense for the years ended December 31, 2012, 2011 and 2010 was $0.1 million, $0.1 million and $0.5 million, respectively. Based on the current amount of intangible assets subject to amortization, we expect that amortization expense for the succeeding five years will be as follows: 2013, $50,000; 2014, $38,000; 2015, $38,000; 2016, $38,000; and 2017, $38,000. If and when acquisitions and dispositions occur in the future, actual amounts may vary from these estimates.

Impairment of goodwill and broadcast license

As of December 31, 2012 and 2011, we tested our goodwill, broadcast licenses and other intangible asset recorded values for potential impairment and concluded that the balances were reasonably stated. As a result, we did not record an impairment expense for our goodwill, broadcast licenses or other intangible assets during fiscal 2012, 2011 or 2010.

See Note 1. “Description of Business and Summary of Significant Accounting Policies” for further discussion of our accounting policies regarding goodwill, broadcast licenses and other intangible assets.

- 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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