5. Acquisitions

Acquisitions in Fiscal Year 2013

The Company did not complete any acquisitions during the nine months ended March 31, 2013.

Acquisitions in Fiscal Year 2012

In fiscal year 2012, the Company acquired certain assets of Ziff Davis Enterprise from Enterprise Media Group, Inc., a New York-based online media and marketing company in the business-to-business technology market, to broaden its registered user database and brand name in the business-to-business technology market. Additionally, the Company acquired 100% of the outstanding equity interests of NarrowCast Group, LLC, or ITBE, to broaden its registered user database and media access in the business-to-business technology market. The Company also acquired the operations of eleven online publishing businesses. The Company recorded $4.6 million in earn-out payments related to a prior period acquisition as an addition to goodwill.

The total purchase prices recorded were as follows (in thousands):


	Ziff Davis		ITBE		Other		Total
Cash	$	17,270	$	23,961	$	14,620	$	55,851
Fair value of debt (net of imputed interest)		—		—		9,696	$	9,696

	$	17,270	$	23,961	$	24,316	$	65,547

The acquisitions were accounted for as business combinations. The Company allocated the purchase price to tangible assets acquired, liabilities assumed and identifiable intangible assets acquired based on their estimated fair values. The excess of the purchase price over the aggregate fair value was recorded as goodwill. The goodwill is deductible for tax purposes. The following table summarizes the allocation of the purchase price and the estimated useful lives of the identifiable intangible assets acquired as of the date of the acquisitions (in thousands):


	Ziff Davis			ITBE			Other		Total			Estimated Useful Life
Tangible assets acquired	$	—		$	3,597		$	—	$	3,597
Liabilities assumed		(255	)		(1,868	)		—		(2,123	)
Customer/publisher/advertiser relationships		4,120			3,230			435		7,785		3-5 years
Content		500			420			4,541		5,461		2-5 years
Website/trade/domain names		4,630			2,220			1,250		8,100		4-8 years
Registered user database		6,320			4,220			—		10,540		3 years
Acquired technology and other		—			—			560		560		4-5 years
Noncompete agreements		—			100			87		187		1-3.5 years
Goodwill		1,955			12,042			17,443		31,440		Indefinite

	$	17,270		$	23,961		$	24,316	$	65,547

Pro Forma Financial Information

The unaudited pro forma financial information in the table below summarizes the combined results of operations for the Company and other companies that were acquired since the beginning of fiscal year 2012. The pro forma financial information includes the business combination accounting effects resulting from these acquisitions, including amortization charges from acquired intangible assets and the related tax effects, as though the acquisitions were effected as of the beginning of fiscal year 2012. The unaudited pro forma financial information as presented below is for informational purposes only and is not indicative of the results of operations that would have been achieved if the acquisitions had taken place at the beginning of fiscal year 2012.


	Three Months Ended March 31, (In thousands)					Nine Months Ended March 31, (In thousands)
	2013			2012		2013			2012
Net revenue	$	79,017		$	94,230	$	230,962		$	291,629
Net (loss) income	$	(2,162	)	$	3,094	$	(66,904	)	$	10,414

Basic net (loss) income per share	$	(0.05	)	$	0.07	$	(1.56	)	$	0.22
Diluted net (loss) income per share	$	(0.05	)	$	0.07	$	(1.56	)	$	0.22