Intangible Assets and Goodwill

6 Months Ended

Dec. 31, 2015

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible assets consist of the following:



	December 31, 2015							June 30, 2015
(In thousands)	Gross Amount		Accumulated Amortization			Net Amount		Gross Amount		Accumulated Amortization			Net Amount
Intangible assets
subject to amortization
National media
Advertiser relationships	$	18,610	$	(7,911	)	$	10,699	$	20,879	$	(7,660	)	$	13,219
Customer lists	5,230		(3,527		)	1,703		9,120		(6,679		)	2,441
Other	19,425		(7,482		)	11,943		20,675		(7,361		)	13,314
Local media
Network affiliation agreements	229,309		(132,576		)	96,733		229,309		(129,362		)	99,947
Retransmission agreements	21,229		(5,223		)	16,006		21,229		(3,454		)	17,775
Other	1,214		(243		)	971		1,212		(126		)	1,086
Total	$	295,017	$	(156,962	)	138,055		$	302,424	$	(154,642	)	147,782
Intangible assets not
subject to amortization
National media
Internet domain names						7,827							7,827
Trademarks						192,089							192,089
Local media
FCC licenses						624,684							624,684
Total						824,600							824,600
Intangible assets, net						$	962,655						$	972,382

Amortization expense was $9.8 million for the six months ended December 31, 2015. Annual amortization expense for intangible assets is expected to be as follows: $19.6 million in fiscal 2016, $18.0 million in fiscal 2017, $15.0 million in fiscal 2018, $12.5 million in fiscal 2019, and $11.6 million in fiscal 2020.

Changes in the carrying amount of goodwill were as follows:



Six months ended December 31,	2015								2014
(In thousands)	National Media			Local Media		Total			National Media		Local Media		Total
Balance at beginning of period	$	932,471		$	68,775	$	1,001,246		$	789,038	$	52,589	$	841,627
Acquisitions	(1,168		)	—		(1,168		)	83,269		16,341		99,610
Balance at end of period	$	931,303		$	68,775	$	1,000,078		$	872,307	$	68,930	$	941,237

- 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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