Intangible Assets And Goodwill

12 Months Ended

Dec. 25, 2011

Intangible Assets And Goodwill [Abstract]

NOTE 3.

INTANGIBLE ASSETS AND GOODWILL

Intangible assets and goodwill consisted of the following (in thousands):


	December 25, 2011
	Gross Amount		Accumulated Amortization			Net Amount
Intangible assets subject to amortization:
Advertiser and subscriber lists	$	803,840	$	(421,392	)	$	382,448
Other		31,121		(30,996	)		125

Total	$	834,961	$	(452,388	)		382,573

Other intangible assets not subject to amortization:
Newspaper mastheads							203,587

Total							586,160
Goodwill							1,012,011

Total intangible assets and goodwill						$	1,598,171


	December 26, 2010
	Gross Amount		Accumulated Amortization			Net Amount
Intangible assets subject to amortization:
Advertiser and subscriber lists	$	803,840	$	(364,010	)	$	439,830
Other		31,071		(30,063	)		1,008

Total	$	834,911	$	(394,073	)		440,838

Other intangible assets not subject to amortization:
Newspaper mastheads							206,387

Total							647,225
Goodwill							1,014,257

Total intangible assets and goodwill						$	1,661,482

Changes in identifiable intangible assets and goodwill in fiscal 2011 and 2010 consisted of the following (in thousands):


	December 26, 2010			Impairment Charges/ Adjustments			Amortization Expense			December 25, 2011
Intangible assets subject to amortization	$	834,911		$	50		$	—			834,961
Accumulated amortization		(394,073	)		—			(58,315	)	$	(452,388	)

		440,838			50			(58,315	)		382,573
Mastheads and other		206,387			(2,800	)		—			203,587
Goodwill (1)		1,014,257			(2,246	)		—			1,012,011

Total	$	1,661,482		$	(4,996	)	$	(58,315	)	$	1,598,171


	December 27, 2009			Impairment Charges/ Adjustments		Amortization Expense			December 26, 2010
Intangible assets subject to amortization	$	834,906		$	5	$	—		$	834,911
Accumulated amortization		(335,535	)		115		(58,653	)		(394,073	)

		499,371			120		(58,653	)		440,838
Mastheads and other		206,387			—		—			206,387
Goodwill (1)		1,006,020			8,237		—			1,014,257

Total	$	1,711,778		$	8,357	$	(58,653	)	$	1,661,482

⁽¹⁾

In 2011 the Company identified an error in the timing of the release of certain unrecognized tax benefits obtained in the 2006 acquisition of Knight Ridder. The Company corrected this error by decreasing goodwill by $2.5 million in 2011. In 2010, the Company identified an error related to carryover tax basis associated with investments in certain internet companies obtained in the Company's 2006 acquisition of Knight Ridder. Research revealed that no tax basis should have been ascribed to these investments. The Company corrected this error by increasing goodwill and decreasing deferred tax assets by $8.2 million in 2010. Management has determined that the impact of these errors is not material to the previously issued consolidated financial statements.

Changes in indefinite lived intangible assets and goodwill as of December 25, 2011, consisted of the following (in thousands):


	Original Gross Amount		Accumulated Impairment			Carrying Amount
Mastheads and other	$	683,000	$	(479,413	)	$	203,587
Goodwill		3,587,007		(2,574,996	)		1,012,011

Total	$	4,270,007	$	(3,054,409	)	$	1,215,598

Amortization expense was $58.3 million, $58.7 million and $59.3 million in fiscal 2011, 2010 and 2009, respectively. The estimated amortization expense for the five succeeding fiscal years is as follows (in thousands):


Year	Amortization Expense
2012	$	58,159
2013		57,004
2014		52,524
2015		48,030
2016		47,721

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

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