Intangible Assets

9 Months Ended

Sep. 30, 2011

Intangible Assets Disclosure [Text Block]

Intangible Assets

In accordance with the authoritative guidance which is applicable to the Refinancing, we revalued our intangibles using our best estimate of current fair value. The value assigned to our only indefinite lived intangible assets, our trademarks, are not amortized to expense but tested for impairment at least annually or upon a triggering event. Our identified definite lived intangible assets are: our relationships with our radio affiliates, and other distribution partners from whom we obtain commercial airtime that we sell to advertisers; internally developed software for systems unique to our business; and contracts which provide information and talent for our programming. The values assigned to definite lived assets are amortized over their estimated useful life using, where applicable, contract completion dates, historical data on affiliate relationships and software usage. On an annual basis as of December 31, or more frequently upon the occurrence of certain events, we are required to perform impairment tests on our identified intangible assets with indefinite lives, including goodwill, which testing could impact the value of our business. Intangible assets with definite lives are tested for impairment when events and circumstances indicate that the carrying amount may not be recoverable. We determined that the Merger was a triggering event in the third quarter and performed an impairment assessment. We concluded that there were no impairments of our intangible assets as of September 30, 2011.

Intangible assets by asset type and estimated life as of September 30, 2011 and December 31, 2010 are as follows:



		As of September 30, 2011							As of December 31, 2010
	Estimated Life	Gross Carrying Value		Accumulated Amortization			Net Carrying Value		Gross Carrying Value		Accumulated Amortization			Net Carrying Value
Trademarks	Indefinite	$	11,200	$	—		$	11,200	$	11,200	$	—		$	11,200
Affiliate relationships	10 years	10,200		(2,486		)	7,714		10,200		(1,721		)	8,479
Software and technology	5 years	1,600		(844		)	756		1,600		(604		)	996
Client contracts	5 years	8,930		(4,831		)	4,099		8,930		(3,343		)	5,587
		$	31,930	$	(8,161	)	$	23,769	$	31,930	$	(5,668	)	$	26,262

Amortization expense of intangible assets was $831 for each of the three month periods ended September 30, 2011 and 2010 and $2,493 for each of the nine month periods ended September 30, 2011 and 2010.