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Goodwill and Other Intangible Assets
 9 Months Ended
Sep. 30, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Other Intangible Assets GOODWILL AND OTHER INTANGIBLE ASSETS
In the second quarter of 2024, as a result of substantial digital advertising revenue declines and continued operating losses at WGB, the Company performed an interim review of the goodwill and intangible assets at the WGB reporting unit. As a result of the impairment review, the Company recorded goodwill and amortized intangible asset impairment charges totaling $26.3 million. The Company estimated the fair value of the reporting unit and amortized intangible asset by utilizing a discounted cash flow model. The carrying value of the reporting unit and amortized intangible asset exceeded their estimated fair values, resulting in goodwill and intangible asset impairment charges for the amount by which the carrying values exceeded their estimated fair values. WGB is included in other businesses.
Amortization of intangible assets for the three months ended September 30, 2025 and 2024, was $9.7 million and $8.4 million, respectively. Amortization of intangible assets for the nine months ended September 30, 2025 and 2024, was $24.8 million and $29.2 million, respectively. Amortization of intangible assets is estimated to be approximately $7 million for the remainder of 2025, $24 million in 2026, $9 million in 2027, $6 million in 2028, $5 million in 2029 and $18 million thereafter.
The changes in the carrying amount of goodwill, by segment, were as follows:
(in thousands)EducationTelevision
Broadcasting		ManufacturingHealthcareAutomotiveOther
Businesses		Total
Balance as of December 31, 2024        
Goodwill$1,146,335 $190,815 $234,993 $135,038 $129,280 $251,216 $2,087,677 
Accumulated impairment losses
(331,151)— (82,062)— — (174,428)(587,641)
815,184 190,815 152,931 135,038 129,280 76,788 1,500,036 
Acquisitions1,262 — 41,515 — — — 42,777 
Dispositions(1,204)— — — — — (1,204)
Foreign currency exchange rate changes
30,359 — — — — — 30,359 
Balance as of September 30, 2025        
Goodwill1,176,752 190,815 276,508 135,038 129,280 251,216 2,159,609 
Accumulated impairment losses
(331,151)— (82,062)— — (174,428)(587,641)
$845,601 $190,815 $194,446 $135,038 $129,280 $76,788 $1,571,968 
The changes in carrying amount of goodwill at the Company’s education division were as follows:
(in thousands)
Kaplan
International
Higher
Education
Supplemental EducationTotal
Balance as of December 31, 2024      
Goodwill$580,495 $174,564 $391,276 $1,146,335 
Accumulated impairment losses— (111,324)(219,827)(331,151)
580,495 63,240 171,449 815,184 
Acquisitions— — 1,262 1,262 
Dispositions(1,204)— — (1,204)
Foreign currency exchange rate changes30,302 — 57 30,359 
Balance as of September 30, 2025      
Goodwill609,593 174,564 392,595 1,176,752 
Accumulated impairment losses— (111,324)(219,827)(331,151)
$609,593 $63,240 $172,768 $845,601 
Other intangible assets consist of the following:
As of September 30, 2025As of December 31, 2024
(in thousands)Useful Life
Range		Gross
Carrying
Amount		Accumulated
Amortization		Net Carrying
Amount		Gross
Carrying
Amount		Accumulated
Amortization		Net
 Carrying
Amount
Amortized Intangible Assets              
Student and customer relationships
2–10 years
$307,949 $262,789 $45,160 $281,140 $252,969 $28,171 
Trade names and trademarks
2–10 years
118,747 100,985 17,762 116,081 94,408 21,673 
Network affiliation agreements
10 years
17,400 15,152 2,248 17,400 13,848 3,552 
Databases and technology
3–6 years
32,357 30,066 2,291 33,290 33,290 — 
Other
1–8 years
38,063 36,614 1,449 41,514 38,214 3,300 
    $514,516 $445,606 $68,910 $489,425 $432,729 $56,696 
Indefinite-Lived Intangible Assets
              
Franchise agreements$91,602 $92,158 
Trade names and trademarks  62,548     60,994     
FCC licenses11,000 11,000 
Other150 171 
  $165,300 $164,323