Property and Equipment, net

9 Months Ended

Sep. 30, 2018

Property, Plant and Equipment [Abstract]

Property and Equipment, net

Property and Equipment, net

		Successor Company			Predecessor Company
(dollars in thousands)	Estimated Useful Life	As of September 30, 2018			As of December 31, 2017
Land	N/A	$	79,464		$	86,308
Broadcasting and other equipment	3 to 30 years	69,282			240,740
Computer and capitalized software costs	1 to 3 years	13,966			29,793
Furniture and fixtures	5 years	4,983			15,278
Leasehold improvements	5 years	24,953			42,504
Buildings	9 to 20 years	27,969			51,549
Construction in progress	N/A	22,805			32,463
		243,422			498,635
Less: accumulated depreciation		(7,684		)	(307,031		)
Property and equipment, net		$	235,738		$	191,604

In connection with the application of fresh start accounting on June 3, 2018, the Company recorded fair value adjustments disclosed in Note 3, “Fresh Start Accounting.” Accumulated depreciation was therefore eliminated as of that date.

The table presented above does not reflect certain assets in the Company's Washington, DC and Blacksburg, VA markets which have been classified as held for sale in the accompanying unaudited Condensed Consolidated Balance Sheet at September 30, 2018 as disclosed in Note 1, "Nature of Business, Interim Financial Data and Basis of Presentation."