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Goodwill and Other Intangible Assets (Tables)
12 Months Ended
Dec. 31, 2020
Goodwill And Intangible Assets Disclosure [Abstract]  
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