GOODWILL AND INTANGIBLES

3 Months Ended

Mar. 31, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

The changes in the carrying amount of goodwill as of March 31, 2025, and since December 31, 2023, were as follows:


(In thousands)	NYTG		The Athletic		Total
Balance as of December 31, 2023	$	164,738	$	251,360	$	416,098
Foreign currency translation(1)	(3,925)		—		(3,925)
Balance as of December 31, 2024	160,813		251,360		412,173
Foreign currency translation(1)	2,622		—		2,622
Balance as of March 31, 2025	$	163,435	$	251,360	$	414,795

(1)The foreign currency translation line item reflects changes in goodwill resulting from fluctuating exchange rates related to the consolidation of certain international subsidiaries.

The aggregate carrying amount of intangible assets of $251.2 million, which includes an indefinite-lived intangible of $2.5 million, is included in Intangible assets, net in our Condensed Consolidated Balance Sheets as of March 31, 2025. As of March 31, 2025, and December 31, 2024, the gross book value and accumulated amortization of the intangible assets with definite lives were as follows:


	March 31, 2025
(In thousands)	Gross Book Value		Accumulated Amortization		Net Book Value		Remaining Weighted-Average Useful Life (Years)
Trademark	$	162,618	$	(27,951)	$	134,667	17.1
Existing subscriber base	136,500		(37,125)		99,375		9.0
Developed technology	38,401		(24,554)		13,847		1.9
Content archive	5,751		(4,914)		837		1.3
Total finite-lived intangibles	$	343,270	$	(94,544)	$	248,726	12.9


	December 31, 2024
(In thousands)	Gross Book Value		Accumulated Amortization		Net Book Value		Remaining Weighted-Average Useful Life (Years)
Trademark	$	162,618	$	(25,951)	$	136,667	17.3
Existing subscriber base	136,500		(34,313)		102,187		9.2
Developed technology	38,401		(22,719)		15,682		2.2
Content archive	5,751		(4,758)		993		1.6
Total finite-lived intangibles	$	343,270	$	(87,741)	$	255,529	13.1

Amortization expense for intangible assets included in Depreciation and amortization in our Condensed Consolidated Statements of Operations was $6.8 million and $7.1 million for the first quarters of 2025 and 2024, respectively. The estimated aggregate amortization expense for the remainder of 2025 and each of the following fiscal years ending December 31 is presented below:


(In thousands)
Remainder of 2025	$	20,410
2026	26,960
2027	20,171
2028	19,335
2029	19,250
Thereafter	142,600
Total amortization expense	$	248,726