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Intangible Assets - LIN Television

12 Months Ended

Dec. 31, 2011

Note 6—Intangible Assets

The following table summarizes the carrying amount of each major class of intangible assets (in thousands):

			December 31,

	Weighted-Average Remaining Useful Life (in years)		December 31,
	Weighted-Average Remaining Useful Life (in years)		2011			2010
Finite-Lived Intangible Assets:
LMA purchase options⁽¹⁾		—	$	64		$	64
Network affiliations⁽²⁾		5		1,875			1,740
Customer relationships		5		2,489			2,489
Non-compete agreements		3		1,588			1,588
Completed technology		5		5,563			1,863
Other intangible assets		11		7,384			6,177
Accumulated amortization				(9,708	)		(8,509	)

			$	9,255		$	5,412

Indefinite-Lived Intangible Assets:
Broadcast licenses			$	390,826		$	381,841
Goodwill				122,069			117,259

			$	512,895		$	499,100

Summary:
Goodwill			$	122,069		$	117,259
Broadcast licenses and finite-lived intangible assets, net				400,081			387,253

Total intangible assets			$	522,150		$	504,512

⁽¹⁾: These assets are fully amortized and therefore have no remaining useful life.
⁽²⁾: $1,740 of the network affiliations are fully amortized and therefore have no remaining useful life.

We recorded amortization expense of $1.2 million, $1.5 million and $0.6 million for the years ended December 31, 2011, 2010 and 2009, respectively.

The following table summarizes the projected aggregate amortization expense for the next five years and thereafter (in thousands):

	Projected Aggregate Amortization Expense

For the years ended December 31,
2012	$	1,895
2013		1,893
2014		1,833
2015		1,429
2016		1,219
Thereafter		986

Total	$	9,255

There were no events during 2011 and 2010 to warrant the performance of an interim impairment test of our indefinite-lived intangible assets. We recorded a $1.6 million impairment charge related to discontinued operations for the year ended December 31, 2011.

We recorded an impairment charge of $39.5 million during the second quarter of 2009 that included an impairment to the carrying values of our broadcast licenses of $36.8 million, relating to 24 of our television stations; and an impairment to the carrying values of our goodwill of $2.7 million, relating to two of our television stations. We tested our indefinite-lived intangible assets for impairment at June 30, 2009, between the required annual tests, because we believed events had occurred and circumstances changed that would more likely than not reduce the fair value of our broadcast licenses and goodwill below their carrying amounts. The need for an impairment analysis at June 30, 2009 was triggered by the continued decline in advertising revenue at certain of our stations in excess of our original plan, due to the economic downturn that resulted in downward adjustments to their respective forecasts.

The changes in the carrying amount of goodwill for the years ended December 31, 2011 and 2010, respectively, are as follows (in thousands):

	Year Ended December 31,

	2011			2010
Goodwill	$	669,585		$	669,585
Accumulated impairment losses		(552,326	)		(552,326	)

Balance as of January 1, 2011 and 2010, respectively		117,259			117,259

Additions		4,810			—
Goodwill		674,395			669,585
Accumulated impairment losses		(552,326	)		(552,326	)

Balance as of December 31, 2011 and 2010, respectively	$	122,069		$	117,259

LIN Television Corporation

Intangible Assets

Note 6—Intangible Assets

The following table summarizes the carrying amount of each major class of intangible assets (in thousands):

			December 31,

	Weighted-Average Remaining Useful Life (in years)		December 31,
	Weighted-Average Remaining Useful Life (in years)		2011			2010
Finite-Lived Intangible Assets:
LMA purchase options⁽¹⁾		—	$	64		$	64
Network affiliations⁽²⁾		5		1,875			1,740
Customer relationships		5		2,489			2,489
Non-compete agreements		3		1,588			1,588
Completed technology		5		5,563			1,863
Other intangible assets		11		7,384			6,177
Accumulated amortization				(9,708	)		(8,509	)

			$	9,255		$	5,412

Indefinite-Lived Intangible Assets:
Broadcast licenses			$	390,826		$	381,841
Goodwill				122,069			117,259

			$	512,895		$	499,100

Summary:
Goodwill			$	122,069		$	117,259
Broadcast licenses and finite-lived intangible assets, net				400,081			387,253

Total intangible assets			$	522,150		$	504,512

⁽¹⁾: These assets are fully amortized and therefore have no remaining useful life.
⁽²⁾: $1,740 of the network affiliations are fully amortized and therefore have no remaining useful life.

We recorded amortization expense of $1.2 million, $1.5 million and $0.6 million for the years ended December 31, 2011, 2010 and 2009, respectively.

The following table summarizes the projected aggregate amortization expense for the next five years and thereafter (in thousands):

	Projected Aggregate Amortization Expense

For the years ended December 31,
2012	$	1,895
2013		1,893
2014		1,833
2015		1,429
2016		1,219
Thereafter		986

Total	$	9,255

The changes in the carrying amount of goodwill for the years ended December 31, 2011 and 2010, respectively, are as follows (in thousands):

	Year Ended December 31,

	2011			2010
Goodwill	$	669,585		$	669,585
Accumulated impairment losses		(552,326	)		(552,326	)

Balance as of January 1, 2011 and 2010, respectively		117,259			117,259

Additions		4,810			—
Goodwill		674,395			669,585
Accumulated impairment losses		(552,326	)		(552,326	)

Balance as of December 31, 2011 and 2010, respectively	$	122,069		$	117,259

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

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