Carrying Amount of Goodwill |
The carrying amount of goodwill for each of the Company’s operating segments for the years ended December 31, 2020 and 2019 is as follows (in thousands):
|
|
December 31, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, |
|
|
|
|
|
|
|
|
|
|
December 31, |
|
|
|
2018 |
|
|
Acquisition |
|
|
Currency |
|
|
Impairment |
|
|
2019 |
|
|
Acquisition |
|
|
Impairment |
|
|
2020 |
|
Television |
|
$ |
40,549 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
$ |
40,549 |
|
|
|
— |
|
|
|
— |
|
|
$ |
40,549 |
|
Digital |
|
|
33,743 |
|
|
|
— |
|
|
|
(67 |
) |
|
|
(27,714 |
) |
|
|
5,962 |
|
|
|
12,332 |
|
|
|
(800 |
) |
|
|
17,494 |
|
Radio |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Consolidated |
|
$ |
74,292 |
|
|
$ |
— |
|
|
$ |
(67 |
) |
|
$ |
(27,714 |
) |
|
$ |
46,511 |
|
|
$ |
12,332 |
|
|
$ |
(800 |
) |
|
$ |
58,043 |
|
|
Composition of Company's Acquired Intangible Assets and Associated Accumulated Amortization |
The composition of the Company’s acquired intangible assets and the associated accumulated amortization as of December 31, 2020 and 2019 is as follows (in thousands):
|
|
|
|
|
|
2020 |
|
|
2019 |
|
|
|
Weighted average remaining life in years |
|
|
Gross Carrying Amount |
|
|
Accumulated Amortization |
|
|
Net Carrying Amount |
|
|
Gross Carrying Amount |
|
|
Accumulated Amortization |
|
|
Net Carrying Amount |
|
Intangible assets subject to amortization: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Television network affiliation agreements |
|
|
7 |
|
|
$ |
67,488 |
|
|
$ |
59,726 |
|
|
$ |
7,762 |
|
|
$ |
67,489 |
|
|
$ |
58,338 |
|
|
$ |
9,151 |
|
Customer base |
|
|
4 |
|
|
|
47,052 |
|
|
|
7,874 |
|
|
|
39,178 |
|
|
|
10,045 |
|
|
|
6,414 |
|
|
|
3,631 |
|
Pre-sold advertising contracts and other |
|
|
5 |
|
|
|
38,624 |
|
|
|
36,152 |
|
|
|
2,472 |
|
|
|
39,057 |
|
|
|
35,067 |
|
|
|
3,990 |
|
Total assets subject to amortization: |
|
|
|
|
|
$ |
153,164 |
|
|
$ |
103,752 |
|
|
$ |
49,412 |
|
|
$ |
116,591 |
|
|
$ |
99,819 |
|
|
$ |
16,772 |
|
Intangible assets not subject to amortization: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
FCC licenses and spectrum usage rights |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
216,653 |
|
|
|
|
|
|
|
|
|
|
|
252,544 |
|
Total intangible assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
266,065 |
|
|
|
|
|
|
|
|
|
|
$ |
269,316 |
|
|
Estimated Amortization Expense |
Estimated amortization expense for the next five years and thereafter is as follows (in thousands):
Estimated Amortization Expense |
|
Amount |
|
2021 |
|
$ |
5,874 |
|
2022 |
|
|
5,419 |
|
2023 |
|
|
5,229 |
|
2024 |
|
|
4,339 |
|
2025 |
|
|
3,255 |
|
Thereafter |
|
|
25,296 |
|
Total |
|
$ |
49,412 |
|
|