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Intangible Assets (Tables)
12 Months Ended
Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Indefinite-Lived Intangible Assets
The gross carrying amount and accumulated amortization of the Company’s intangible assets as of December 31, 2023 and 2022 are as follows (dollars in thousands):
Indefinite-LivedDefinite-LivedTotal
Gross Carrying Amount
FCC licenses
TrademarksAffiliate and producer relationshipsBroadcast advertisingTower income contractsOther
Balance as of December 31, 2021$823,905 $19,749 $145,000 $32,000 $13,580 $11,053 $1,045,287 
Assets held for sale (49)(32)— — (32)— (113)
Acquisition— 135 — — — — 135 
Dispositions(768)— — — — — (768)
Impairment charges(15,544)— — — — — (15,544)
Other (a)
— — — — — (11,053)(11,053)
Balance as of December 31, 2022$807,544 $19,852 $145,000 $32,000 $13,548 $— $1,017,944 
Accumulated Amortization
Balance as of December 31, 2021$— $— $(43,598)$(22,933)$(5,408)$(11,053)$(82,992)
Amortization Expense— — (14,819)(6,400)(1,507)— (22,726)
Assets held for sale — — — — 16 — 16 
Other (a)
— — — — — 11,053 11,053 
Balance as of December 31, 2022$— $— $(58,417)$(29,333)$(6,899)$— $(94,649)
Net Book Value as of December 31, 2022$807,544 $19,852 $86,583 $2,667 $6,649 $— $923,295 
Indefinite-LivedDefinite-LivedTotal
Gross Carrying AmountFCC licensesTrademarksAffiliate and producer relationshipsBroadcast advertisingTower income contractsOther
Balance as of December 31, 2022$807,544 $19,852 $145,000 $32,000 $13,548 $— $1,017,944 
Dispositions(1,307)(41)— — (41)— (1,389)
Impairment charges(64,521)(791)— — — — (65,312)
Other (a)
— — — (32,000)— — (32,000)
Balance as of December 31, 2023$741,716 $19,020 $145,000 $— $13,507 $— $919,243 
Accumulated Amortization
Balance as of December 31, 2022$— $— $(58,417)$(29,333)$(6,899)$— $(94,649)
Amortization Expense— — (14,818)(2,667)(1,503)— (18,988)
Dispositions— — — — 23 — 23 
Other (a)
— — — 32,000 — — 32,000 
Balance as of December 31, 2023$— $— $(73,235)$— $(8,379)$— $(81,614)
Net Book Value as of December 31, 2023$741,716 $19,020 $71,765 $— $5,128 $— $837,629 
(a) Removed gross carrying amount and accumulated amortization of fully amortized intangible assets.
Schedule of Finite-Lived Intangible Assets
The gross carrying amount and accumulated amortization of the Company’s intangible assets as of December 31, 2023 and 2022 are as follows (dollars in thousands):
Indefinite-LivedDefinite-LivedTotal
Gross Carrying Amount
FCC licenses
TrademarksAffiliate and producer relationshipsBroadcast advertisingTower income contractsOther
Balance as of December 31, 2021$823,905 $19,749 $145,000 $32,000 $13,580 $11,053 $1,045,287 
Assets held for sale (49)(32)— — (32)— (113)
Acquisition— 135 — — — — 135 
Dispositions(768)— — — — — (768)
Impairment charges(15,544)— — — — — (15,544)
Other (a)
— — — — — (11,053)(11,053)
Balance as of December 31, 2022$807,544 $19,852 $145,000 $32,000 $13,548 $— $1,017,944 
Accumulated Amortization
Balance as of December 31, 2021$— $— $(43,598)$(22,933)$(5,408)$(11,053)$(82,992)
Amortization Expense— — (14,819)(6,400)(1,507)— (22,726)
Assets held for sale — — — — 16 — 16 
Other (a)
— — — — — 11,053 11,053 
Balance as of December 31, 2022$— $— $(58,417)$(29,333)$(6,899)$— $(94,649)
Net Book Value as of December 31, 2022$807,544 $19,852 $86,583 $2,667 $6,649 $— $923,295 
Indefinite-LivedDefinite-LivedTotal
Gross Carrying AmountFCC licensesTrademarksAffiliate and producer relationshipsBroadcast advertisingTower income contractsOther
Balance as of December 31, 2022$807,544 $19,852 $145,000 $32,000 $13,548 $— $1,017,944 
Dispositions(1,307)(41)— — (41)— (1,389)
Impairment charges(64,521)(791)— — — — (65,312)
Other (a)
— — — (32,000)— — (32,000)
Balance as of December 31, 2023$741,716 $19,020 $145,000 $— $13,507 $— $919,243 
Accumulated Amortization
Balance as of December 31, 2022$— $— $(58,417)$(29,333)$(6,899)$— $(94,649)
Amortization Expense— — (14,818)(2,667)(1,503)— (18,988)
Dispositions— — — — 23 — 23 
Other (a)
— — — 32,000 — — 32,000 
Balance as of December 31, 2023$— $— $(73,235)$— $(8,379)$— $(81,614)
Net Book Value as of December 31, 2023$741,716 $19,020 $71,765 $— $5,128 $— $837,629 
(a) Removed gross carrying amount and accumulated amortization of fully amortized intangible assets.
Schedule of Estimated Future Amortization Expense
As of December 31, 2023, future amortization expense related to the Company's definite-lived intangible assets was estimated as follows (dollars in thousands):
2024$16,319 
202516,319 
202615,069 
202712,444 
202811,818 
Thereafter4,924 
Total definite-lived intangibles, net$76,893 
Schedule of Valuation Assumptions For Impairment Assessments
Below are the key assumptions used in our annual impairment assessments:
December 31, 2023
December 31, 2022
Discount rate9.5 %8.9 %
Long-term revenue growth rate(0.75)%(0.75)%
Mature operating profit margin for average stations in the markets where the Company operates
26% – 27%
20% – 30%