XML 152 R13.htm IDEA: XBRL DOCUMENT v3.23.3
Goodwill
 9 Months Ended
Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill

6. Goodwill

 

The changes in carrying value of goodwill are as follows:

 

         
   As of 
  

September 30, 2023

(unaudited)

   December 31, 2022 
Carrying value at beginning of year  $39,344   $19,619 
Goodwill acquired in acquisition of Parade   -    2,587 
Goodwill acquired in acquisition of Men’s Journal   1,246    17,138 
Goodwill acquired in acquisition of Fexy Studios   1,985    - 
Carrying value at end of period  $42,575   $39,344 

 

In connection with the acquisition of Men’s Journal, the Company received a final valuation report during the quarterly period ended September 30, 2023 from a third-party valuation firm after the preliminary purchase price was determined. After considering the results of the final valuation report, the Company estimated that the purchase consideration increased by $1,246 as a result of an increase in the fair value of the assumed lease obligation with an offset recorded to goodwill.