GOODWILL, INDEFINITE-LIVED INTANGIBLE ASSETS AND OTHER INTANGIBLE ASSETS

12 Months Ended

Dec. 31, 2018

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL, INDEFINITE-LIVED INTANGIBLE ASSETS AND OTHER INTANGIBLE ASSETS

GOODWILL, INDEFINITE-LIVED INTANGIBLE ASSETS AND OTHER INTANGIBLE ASSETS:

Goodwill, which arises from the purchase price exceeding the assigned value of the net assets of an acquired business, represents the value attributable to unidentifiable intangible elements being acquired. Goodwill totaled $2,123.9 million and $2,124.0 million at December 31, 2018 and 2017, respectively.  The change in the carrying amount of goodwill was as follows (in thousands):

	Broadcast		Other			Consolidated
Balance at December 31, 2016	$	1,933,831	$	56,915		$	1,990,746
Acquisitions (a)	119,426		13,966			133,392
Measurement period adjustments related to prior year acquisitions	153		154			307
Disposition of assets (a)	—		(412		)	(412		)
Balance at December 31, 2017 (b)	2,053,410		70,623			2,124,033
Measurement period adjustments related to prior year acquisitions	1,369		(1,500		)	(131		)
Balance at December 31, 2018 (b)	$	2,054,779	$	69,123		$	2,123,902

(a) See Note 2. Acquisitions and Dispositions of Assets for discussion of acquisitions and divestitures made during 2017.

(b) Approximately $0.8 million of goodwill relates to consolidated VIEs as of December 31, 2018 and 2017.

For our annual goodwill impairment tests in 2018, 2017, and 2016, we concluded that it was more-likely-than-not that goodwill was not impaired for the reporting units in which we performed a qualitative assessment.  The qualitative factors reviewed during our annual assessments indicated stable or improving margins and favorable or stable forecasted economic conditions including stable discount rates and comparable or improving business multiples. Additionally, the results of prior quantitative assessments supported significant excess fair value over carrying value of our reporting units. We did not have any indicators of impairment in any interim period in 2018, 2017, or 2016, and therefore did not perform interim impairment tests for goodwill during those periods. Our accumulated goodwill impairment as of December 31, 2018 and 2017 was $413.6 million.

As of December 31, 2018 and 2017, the carrying amount of our indefinite-lived intangible assets was as follows (in thousands):

	Broadcast			Other		Consolidated
Balance at December 31, 2016	$	132,906		$	23,400	$	156,306
Acquisitions (a)	425			4,051		4,476
Disposition of assets (a)	(1,411		)	—		(1,411		)
Balance at December 31, 2017 (b)	131,920			27,451		159,371
Disposition of assets (a)	(1,149		)	—		(1,149		)
Balance at December 31, 2018 (b) (c)	$	130,771		$	27,451	$	158,222

(a) See Note 2. Acquisitions and Dispositions of Assets for discussion of acquisitions and divestitures made during 2018 and 2017.

(b) Approximately $14.3 million of indefinite-lived intangible assets relate to consolidated VIEs as of December 31, 2018 and 2017.

(c) Our indefinite-lived intangible assets in Broadcast relates to broadcast licenses and our indefinite-lived intangible assets in Other relates to trade names.

We did not have any indicators of impairment for our indefinite-lived intangible assets in any interim period in 2018 or 2017, and therefore did not perform interim impairment tests during those periods. We performed our annual impairment tests for indefinite-lived intangibles in 2018 and 2017 and as a result of our qualitative assessments, we recorded no impairment. In 2016, as a result of our qualitative and quantitative assessments, we recorded no impairment.

The following table shows the gross carrying amount and accumulated amortization of definite-lived intangibles (in thousands):

	As of December 31, 2018
	Gross Carrying Value		Accumulated Amortization			Net
Amortized intangible assets:
Network affiliation (a)	$	1,451,600	$	(604,470	)	$	847,130
Customer Relationships (a)	1,113,134		(340,805		)	772,329
Other (a)	33,417		(25,996		)	7,421
Total	$	2,598,151	$	(971,271	)	$	1,626,880

	As of December 31, 2017
	Gross Carrying Value		Accumulated Amortization			Net
Amortized intangible assets:
Network affiliation (a)	$	1,451,663	$	(514,575	)	$	937,088
Customer Relationships (a)	1,229,006		(373,966		)	855,040
Other (a)	45,955		(36,413		)	9,542
Total	$	2,726,624	$	(924,954	)	$	1,801,670

(a) Changes between the gross carrying value from December 31, 2017 to December 31, 2018, relate to certain fully amortized intangible assets which were retired in 2018.

Definite-lived intangible assets and other assets subject to amortization are being amortized on a straight-line basis over their estimated useful lives which generally range from 5 to 25 years.  The total weighted average useful life of definite-lived intangible assets and other assets subject to amortization acquired as a result of the acquisitions discussed in Note 2. Acquisitions and Dispositions of Assets is 14 years.  The amortization expense of the definite-lived intangible and other assets for the years ended December 31, 2018, 2017, and 2016 was $174.8 million, $178.8 million, and $183.8 million, respectively.  We analyze specific definite-lived intangibles for impairment when events occur that may impact their value in accordance with the respective accounting guidance for long-lived assets.  There were no impairment charges recorded for the years ended December 31, 2018, 2017, and 2016.

The following table shows the estimated amortization expense of the definite-lived intangible assets for the next five years (in thousands):

For the year ended December 31, 2019	$	173,508
For the year ended December 31, 2020	172,945
For the year ended December 31, 2021	171,902
For the year ended December 31, 2022	168,135
For the year ended December 31, 2023	159,236
Thereafter	781,154
	$	1,626,880