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Note 8 - Goodwill and Intangible Assets | 3 Months Ended
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Mar. 31, 2017
Notes to Financial Statements |
Goodwill and Intangible Assets Disclosure [Text Block] | 8. Goodwill and Intangible Assets During the three -month period ended March 31, 2017, we acquired various television broadcast stations and broadcast licenses. As a result of these acquisitions, our goodwill and intangible balances increased. See Note 2 “Acquisitions” for more information regarding these transactions. A summary of changes in our goodwill and other intangible assets, on a net basis, for the three -month period ended March 31, 2017 is as follows (in thousands):
|  | Net Balance at |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Net Balance at |
|  | December 31, |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | March 31, |
|  | 2016 |  |  | Additions |  |  | Dispositions |  |  | Impairments |  |  | Amortization |  |  | 2017 |
Goodwill |  | $ | 485,318 |  |  | $ | 86,390 |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | 571,708 |
Broadcast licenses |  |  | 1,340,305 |  |  |  | 152,074 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 1,492,379 |
Finite-lived intangible assets |  |  | 56,250 |  |  |  | 20,101 |  |  |  | - |  |  |  | - |  |  |  | (5,567 | ) |  |  | 70,784 |
Total intangible assets net of accumulated amortization |  | $ | 1,881,873 |  |  | $ | 258,565 |  |  | $ | - |  |  | $ | - |  |  | $ | (5,567 | ) |  | $ | 2,134,871 |
As of March 31, 2017 and December 31, 2016, our intangible assets and related accumulated amortization consisted of the following (in thousands):
|  | As of March 31, 2017 |  |  | As of December 31, 2016 |
|  |  |  |  |  | Accumulated |  |  |  |  |  |  |  |  |  |  | Accumulated |  |  |  |  |
|  | Gross |  |  | Amortization |  |  | Net |  |  | Gross |  |  | Amortization |  |  | Net |
Intangible assets not currently subject to amortization: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Broadcast licenses |  | $ | 1,546,078 |  |  | $ | (53,699 | ) |  | $ | 1,492,379 |  |  | $ | 1,394,004 |  |  | $ | (53,699 | ) |  | $ | 1,340,305 |
Goodwill |  |  | 571,708 |  |  |  | - |  |  |  | 571,708 |  |  |  | 485,318 |  |  |  | - |  |  |  | 485,318 |
|  | $ | 2,117,786 |  |  | $ | (53,699 | ) |  | $ | 2,064,087 |  |  | $ | 1,879,322 |  |  | $ | (53,699 | ) |  | $ | 1,825,623 |
Intangible assets subject to amortization: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Network affiliation agreements |  | $ | 5,264 |  |  | $ | (1,612 | ) |  | $ | 3,652 |  |  |  | 1,264 |  |  | $ | (1,264 | ) |  | $ | - |
Other finite-lived intangible assets |  |  | 121,892 |  |  |  | (54,760 | ) |  |  | 67,132 |  |  |  | 105,792 |  |  |  | (49,542 | ) |  |  | 56,250 |
|  | $ | 127,156 |  |  | $ | (56,372 | ) |  | $ | 70,784 |  |  | $ | 107,056 |  |  | $ | (50,806 | ) |  | $ | 56,250 |
Total intangibles |  | $ | 2,244,942 |  |  | $ | (110,071 | ) |  | $ | 2,134,871 |  |  | $ | 1,986,378 |  |  | $ | (104,505 | ) |  | $ | 1,881,873 |
Amortization expense for the three -months ended March 31, 2017 and 2016 was $5.6 million and $3.9 million, respectively. Based on the current amount of intangible assets subject to amortization, we expect that amortization expense for the succeeding five years will be as follows: 2018, $14.5 million; 2019, $12.0 million; 2020, $9.0 million; 2021, $5.3 million; and 2022, $3.1 million. If and when acquisitions and dispositions occur in the future, actual amounts may vary from these estimates. Impairment of goodwill and broadcast license s Our intangible assets are primarily comprised of broadcast licenses. There were no triggering events that required a test of our goodwill or intangible assets for impairment during the three -month periods ended March 31, 2017 or 2016.

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- 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. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
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