Goodwill and other Intangible Assets

6 Months Ended

Mar. 31, 2019

Goodwill And Other Intangible Assets [Abstract]

Goodwill and Intangible Assets Disclosure [Text Block]

GOODWILL AND OTHER INTANGIBLE ASSETS

Changes in the carrying amount of goodwill are as follows:

	26 Weeks Ended
(Thousands of Dollars)	March 31 2019
Goodwill, gross amount	1,535,155
Accumulated impairment losses	(1,288,979	)
Goodwill, beginning of period	246,176
Goodwill acquired in business combinations	3,986
Goodwill, end of period	250,162

Identified intangible assets consist of the following:

(Thousands of Dollars)	March 31 2019	September 30 2018
Nonamortized intangible assets:
Mastheads	21,883	21,883
Amortizable intangible assets:
Customer and newspaper subscriber lists	696,632	692,886
Less accumulated amortization	603,510	594,950
	93,122	97,936
Other intangible assets, net	115,005	119,819

In January 2019, we purchased the businesses of Kenosha News and Lake Geneva Regional News. In February 2019, TownNews purchased the content management system ("CMS") business from GTxcel. Both transactions were funded with cash on the balance sheet. As part of initial estimates,$3,986,000 was recorded in goodwill and $3,650,000 was recorded in other intangible assets, net. The $3,650,000 of other intangible assets, net relate to acquired customer lists, which will be amortized over a 10 year period. These initial estimates will be reviewed in subsequent quarters as more information becomes available.

Annual amortization of intangible assets for the years ending March 2020 to March 2024 is estimated to be $16,192,000, $15,929,000, $13,289,000, $12,384,000 and $11,704,000, respectively.