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Goodwill | 12 Months Ended
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Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill | 11. Goodwill The changes in carrying value of goodwill for the years ended December 31, 2019 and 2018 are as follows:
|  | As of December 31, |
|  | 2019 |  |  | 2018 |
Carrying value at beginning of year |  | $ | 7,324,287 |  |  | $ | - |
Goodwill acquired in acquisition of HubPages |  |  | - |  |  |  | 1,857,663 |
Goodwill acquired in acquisition of Say Media |  |  | - |  |  |  | 5,466,624 |
Goodwill acquired in acquisition of TheStreet |  |  | 8,815,090 |  |  |  | - |
Carrying value at end of year |  | $ | 16,139,377 |  |  | $ | 7,324,287 |
The Company performs its annual impairment test at the reporting unit level, which is the operating segment or one level below the operating segment. Management determined that the Company would be aggregated into a single reporting unit for purposes of performing the impairment test for goodwill. For the years ended December 31, 2019 and 2018, the Company as part of its annual evaluations utilized the option to first assess qualitative factors to determine whether it was necessary to perform the quantitative goodwill impairment assessment. As part of this assessment, the Company reviews qualitative factors which include, but are not limited to, economic, market and industry conditions, as well as the financial performance of its reporting unit. In accordance with applicable guidance, an entity is not required to calculate the fair value of its reporting unit if, after assessing these qualitative factors, the Company determines that it is more likely than not that the fair value of its reporting unit is greater than its respective carrying amount. As of December 31, 2019 and 2018, the Company determined that it was more likely than not that the fair value of its reporting unit exceeded its respective carrying amounts and therefore, a quantitative assessment was not required. There has been no goodwill impairment for the years ended December 31, 2019 and 2018 in connection with the Company’s impairment tests.

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- Definition The entire disclosure for goodwill. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=2144439 + Details
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