Fair Value Measurement (Tables)

3 Months Ended

12 Months Ended

Sep. 30, 2016

Jun. 30, 2016

Fair Value, Assets Measured on Recurring Basis

The cost and market value of the Perk shares at June 30, 2016 were as follows:



	June 30, 2016
	Cost		Market
Current:
Perk shares	$	2,708	$	2,495
Total	$	2,708	$	2,495

Reconciliation of Items Measured at Fair Value

The following table presents a reconciliation of assets measured at fair value on a recurring basis using unobservable inputs (level 3):



	(in thousands)

Balance at July 1, 2016	$	648
Unrealized losses for the period included in other income (expense), net	(503		)
Sale of Perk warrants	(145		)
Balance at September 30, 2016	$	—

As noted above, on September 30, 2016, the Company sold to Perk the remaining shares of Perk common stock, the warrants for additional shares, and the right to the Earn-Out Shares received from Perk on the sale of the Viggle rewards business on February 8, 2016. The Company received $1,300 from Perk as consideration therefor. In connection with the sale of the Perk shares, the warrants for additional shares and the right to the Earn-Out Shares, the Company recorded a loss of $2,193 in the Other Expense line item of the Consolidated Statements of Operations for the three months ended September 30, 2016.

The following table presents a reconciliation of liabilities measured at fair value on a recurring basis using unobservable inputs (level 3):



	(in thousands)

Balance at July 1, 2016	$	10
Additions to Level 3	—
Balance at September 30, 2016	$	10

The following table presents a reconciliation of assets measured at fair value on a recurring basis using unobservable inputs (level 3):



	(in thousands)
Balance at July 1, 2015	$	—
Perk warrants	1,023
Unrealized losses for the period including in other income (expense), net	(375		)
Balance at June 30, 2016	$	648

The following table presents a reconciliation of liabilities measured at fair value on a recurring basis using unobservable inputs: (level 3):



	(in thousands)
Balance at July 1, 2015	$	10
Additions to Level 3	—
Balance at June 30, 2016	$	10