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INTANGIBLE ASSETS AND GOODWILL (Tables)
12 Months Ended
Dec. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of the changes in broadcasting license
Broadcasting Licenses
Carrying Amount
December 31,December 31,
20172016
(amounts in thousands)
Beginning of period balance as of January 1,$823,195$807,381
Disposition of an FCC broadcasting license to facilitate the CBS Merger(13,500)-
Consolidation (deconsolidation) of a VIE - 2017 Charlotte Acquisition(15,738)15,738
Acquisition of radio stations - 2017 Charlotte Acquisition17,174-
Acquisition of radio stations - CBS Radio Merger1,880,400-
Disposition of FCC broadcasting licenses - EMF Sale(54,661)-
Acquisition of a radio station - Beasley Transaction35,944-
Acquisition of radio stations - iHeartMedia Transaction50,621-
Disposition of radio stations - iHeartMedia Transaction(7,462)-
Acquisitions - other-112
Assets held for sale - Bonneville Transaction(66,014)-
Disposition of radio stations previously reflected as held for sale-(36)
Ending period balance$2,649,959$823,195
Schedule of assumptions and estimates for broadcasting licences impairment testing
Estimates And Assumptions
SecondSecondSecondSecond
QuarterQuarterQuarterQuarter
2017201620152014
Discount rate9.25%9.5%9.7%9.6%
Operating profit margin ranges expected
for average stations in the markets
where the Company operates19% to 40%14% to 40%25% to 40%25% to 40%
Long-term revenue growth rate range
of the Company's markets 1.0% to 2.0%1.0% to 2.0%1.5% to 2.0%1.5% to 2.0%
Schedule of changes in goodwill
Goodwill Carrying Amount
December 31,December 31,
20172016
(amounts in thousands)
Goodwill balance before cumulative loss
on impairment as of January 1,$158,333$158,244
Accumulated loss on impairment as of January 1,(125,615)(125,615)
Goodwill beginning balance after cumulative loss
on impairment as of January 1,32,71832,629
Loss on impairment during year(441)-
Acquisition of radio stations - 2017 Charlotte Acquisition43
Acquisition of radio stations - CBS Radio Merger820,961-
Disposition of goodwill - EMF sale(266)-
Acquisition of a radio station - Beasley Transaction289-
Acquisition of radio stations -iHeartMedia Transaction11,700-
Disposition of radio stations - iHeartMedia Transaction(14)-
Assets held for sale - Bonneville Transaction(2,990)-
Adjustment to acquired goodwill associated with an assumed fair value liability-92
Disposition of radio stations previously reflected as assets held for sale-(3)
Ending period balance$862,000$32,718
Schedule of assumptions and estimates for goodwill impairment testing
Estimates And Assumptions
SecondSecondSecondSecond
QuarterQuarterQuarterQuarter
2017201620152014
Discount rate9.25%9.5%9.7%9.6%
Long-term revenue growth rate range
of the Company's markets 1.0% to 2.0%1.0% to 2.0%1.5% to 2.0%1.5% to 2.0%
Market multiple used in the market
valuation approach7.5x to 8.0x7.5x to 8.0x7.5x to 8.0x7.5x to 8.0x