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Subsequent Events
3 Months Ended
Mar. 31, 2016
Subsequent Events [Abstract]  
Subsequent Events
Subsequent Events

On April 12, 2016, we acquired the multi-platform humor and satire brand Cracked, which informs and entertains millennial audiences with a strong website, original digital video, social media and a popular podcast. The purchase price was $39 million in cash.

Due to the limited time since we closed the Cracked acquisition, we have not yet completed the initial acquisition accounting for the transaction, including the determination of the fair values of the assets acquired and the liabilities assumed. We will complete the initial preliminary purchase price allocation in the second quarter and it will be reflected in our June 30, 2016 financial statements. The results of operations of the acquired business will be included in our results from April 12, 2016, the date of acquisition.