Intangible Assets

6 Months Ended

Jun. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

Intangible Assets

The gross carrying amount and accumulated amortization of the Company’s intangible assets as of June 30, 2023 and December 31, 2022 are as follows (dollars in thousands):

	Indefinite-Lived				Definite-Lived						Total
Gross Carrying Amount	FCC licenses		Trademarks		Affiliate and producer relationships		Broadcast advertising		Tower income contracts
Balance as of December 31, 2022	$	807,544	$	19,852	$	145,000	$	32,000	$	13,548	$	1,017,944
Assets held for sale	(1,307)		(41)		—		—		(41)		(1,389)
Other (a)	—		—		—		(32,000)		—		(32,000)
Balance as of June 30, 2023	$	806,237	$	19,811	$	145,000	$	—	$	13,507	$	984,555
Accumulated Amortization
Balance as of December 31, 2022	$	—	$	—	$	(58,417)	$	(29,333)	$	(6,899)	$	(94,649)
Amortization Expense	—		—		(7,409)		(2,667)		(752)		(10,828)
Assets held for sale	—		—		—		—		23		23
Other (a)	—		—		—		32,000		—		32,000
Balance as of June 30, 2023	$	—	$	—	$	(65,826)	$	—	$	(7,628)	$	(73,454)
Net Book Value as of June 30, 2023	$	806,237	$	19,811	$	79,174	$	—	$	5,879	$	911,101

(a) Removed gross carrying amount and accumulated amortization of fully amortized intangible assets as of June 30, 2023.

The Company performs impairment testing of its indefinite-lived intangible assets annually as of December 31 of each year and on an interim basis if events or circumstances indicate that its indefinite-lived intangible assets may be impaired. The Company reviews the carrying amount of its definite-lived intangible assets, primarily broadcast advertising and affiliate relationships, for recoverability whenever events or changes in circumstances indicate that the carrying amount of the assets may not be recoverable. Events and circumstances did not necessitate any interim impairment tests during the six months ended June 30, 2023. We will continue to monitor changes in economic and market conditions, and if any events or circumstances indicate a triggering event has occurred, we will perform an interim impairment test of our intangible assets at the appropriate time.