Related Party Transactions

3 Months Ended

Mar. 31, 2017

11. Related Party Transactions

For the Current Quarter, the Company paid less than $0.1 million to Galore Media, Inc. in relation to certain marketing services to promote the Company’s brands and for the rights to certain warrants of Galore Media, Inc. as compared to none during the Prior Year Quarter. The Company owns a minority interest in Galore Media, Inc. as discussed in Note 4. Management believes that all transactions were made on terms and conditions no less favorable than those available in the marketplace from unrelated parties.

During the Prior Year Quarter, the Company incurred less than $0.1 million per year in consulting fees in connection with a consulting arrangement entered into with Mark Friedman, a member of the Company’s Board of Directors, relating to the provision by Mr. Friedman of investor relations services. Such consulting agreement was terminated on May 3, 2016. There were no such consulting fees incurred during the Current Quarter.

The Company has entered into certain license agreements in which the core licensee is also one of our joint venture partners. For the Current Quarter and Prior Year Quarter, the Company recognized the following royalty revenue amounts:

	Three Months Ended March 31,
	2017		2016
Joint Venture Partner
Global Brands Group Asia Limited ⁽¹⁾	$	3,238	$	815
Buffalo International ULC		690		3,438
Rise Partners, LLC / Top On International Group Limited		335		496
M.G.S. Sports Trading Limited		92		141
Pac Brands USA, Inc.		33		140
NGO, LLC		—		300
Albion Equity Partners LLC / GL Damek		466		412
MHMC⁽²⁾		450		292
	$	5,304	$	6,034

⁽¹⁾

Global Brands Group Asia Limited also serves as agent to Peanuts Worldwide in respect of the Greater China Territory for Peanuts brands. For the Current Quarter and Prior Year Quarter, Global Brands Group Asia Limited earned fees of approximately $0.8 million and $0.7 million, respectively, in its capacity as agent to Peanuts Worldwide.

⁽²⁾	MHMC became a related party to the Company in July 2016 upon consummation of an agreement between a Company subsidiary and MHMC to sell to MHMC up to an aggregate 50% ownership interest in Umbro China. Refer to Note 4 for further details.