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Acquisitions | 6 Months Ended
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Dec. 31, 2012
Acquisitions | 5. Acquisitions Acquisitions in Fiscal Year 2013 The Company did not complete any acquisitions during the six months ended December 31, 2012. 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 December 31, |  |  | Six Months Ended December 31, |
|  | (In thousands) |  |  | (In thousands) |
|  | 2012 |  |  | 2011 |  |  | 2012 |  |  | 2011 |
Net revenue |  | $ | 73,319 |  |  | $ | 92,041 |  |  | $ | 151,945 |  |  | $ | 197,399 |
Net income |  |  | (63,355 | ) |  |  | 2,642 |  |  |  | (64,742 | ) |  |  | 7,320 |
Basic net income per share |  | $ | (1.53 | ) |  | $ | 0.06 |  |  | $ | (1.51 | ) |  | $ | 0.15 |
Diluted net income per share |  | $ | (1.53 | ) |  | $ | 0.06 |  |  | $ | (1.51 | ) |  | $ | 0.15 |

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- Definition The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=7659399&loc=d3e1392-128463 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6910749&loc=d3e4845-128472 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6910749&loc=d3e4926-128472 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=7659399&loc=d3e1490-128463 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 30 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=7488404&loc=d3e6927-128479 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 30 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=7488404&loc=d3e7008-128479 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 30 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=7488404&loc=d3e7000-128479 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=7659399&loc=d3e1524-128463 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=7659399&loc=d3e1383-128463 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=7659399&loc=d3e1486-128463 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=7659399&loc=d3e1500-128463 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 141R -Paragraph 67-73 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6910749&loc=d3e4934-128472 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 141R -Paragraph F4 -Subparagraph e -Appendix F Reference 15: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=7659399&loc=d3e1497-128463 Reference 16: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6910749&loc=d3e4922-128472 Reference 17: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Emerging Issues Task Force (EITF) -Number 88-16 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. 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