Note 11 - Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2014

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets Disclosure [Text Block]

11.     Goodwill and Intangible Assets

During the years ended December 31, 2014 and 2013, we acquired various television broadcast stations and broadcast licenses. As a result of these acquisitions, our goodwill and intangible balances increased during each of these years. See Note 2 “Acquisitions” for more information regarding these transactions. A summary of changes in our goodwill and other intangible assets, on a net basis, for the years ended December 31, 2014 and 2013 is as follows (in thousands):

	Net Balance at									Net Balance at
	December 31,									December 31,
	2013		Additions		Impairment		Amortization			2014
Goodwill	$	184,409	$	189,981	$	-	$	-		$	374,390
Broadcast licenses		838,982		184,598		-		-			1,023,580
Definite lived intangible assets		2,644		53,455		-		(8,297	)		47,802
Total intangible assets net of accumulated amortization	$	1,026,035	$	428,034	$	-	$	(8,297	)	$	1,445,772

	Net Balance at									Net Balance at
	December 31,									December 31,
	2012		Additions		Impairment		Amortization			2013
Goodwill		170,522	$	13,887	$	-	$	-		$	184,409
Broadcast licenses		819,188		19,794		-		-			838,982
Definite lived intangible assets		637		2,343		-		(336	)		2,644
Total intangible assets net of accumulated amortization	$	990,347	$	36,024	$	-	$	(336	)	$	1,026,035

A summary of changes in our goodwill, on a gross basis, for the years ended December 31, 2014 and 2013 is as follows (in thousands):

	As of							As of
	December 31, 2013			Additions		Impairment		December 31, 2014
Goodwill, gross	$	283,005		$	189,981	$	-	$	472,986
Accumulated goodwill impairment		(98,596	)		-		-		(98,596	)
Goodwill, net	$	184,409		$	189,981	$	-	$	374,390

	As of							As of
	December 31, 2012			Additions		Impairment		December 31, 2013
Goodwill, gross	$	269,118		$	13,887	$	-	$	283,005
Accumulated goodwill impairment		(98,596	)		-		-		(98,596	)
Goodwill, net	$	170,522		$	13,887	$	-	$	184,409

As of December 31, 2014 and 2013, our intangible assets and related accumulated amortization consisted of the following (in thousands):

	As of December 31, 2014							As of December 31, 2013
			Accumulated							Accumulated
	Gross		Amortization			Net		Gross		Amortization			Net
Intangible assets not subject to amortization:
Broadcast licenses	$	1,077,279	$	(53,699	)	$	1,023,580	$	892,681	$	(53,699	)	$	838,982
Goodwill		374,390		-			374,390		184,409		-			184,409
	$	1,451,669	$	(53,699	)	$	1,397,970	$	1,077,090	$	(53,699	)	$	1,023,391
Intangible assets subject to amortization:
Network affiliation agreements	$	1,264	$	(1,264	)	$	-	$	1,264	$	(1,264	)	$	-
Other definite lived intangible assets		69,281		(21,479	)		47,802		15,826		(13,182	)		2,644
	$	70,545	$	(22,743	)	$	47,802	$	17,090	$	(14,446	)	$	2,644
Total intangibles	$	1,522,214	$	(76,442	)	$	1,445,772	$	1,094,180	$	(68,145	)	$	1,026,035

Amortization expense for the years ended December 31, 2014, 2013 and 2012 was $8.3 million, $0.3 million and $0.1 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: 2015, $10.9 million; 2016, $10.4 million; 2017, $9.8 million; 2018, $5.2 million; and 2019, $3.7 million. 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, 2014 and 2013, 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 2014, 2013 or 2012.

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.