Goodwill and Other Intangible Assets

6 Months Ended

Jun. 30, 2018

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill consisted of the following:



(in thousands)	Local Media			National Media			Total

Gross balance as of December 31, 2017	$	708,133		$	315,133		$	1,023,266
Accumulated impairment losses	(216,914		)	(50,403		)	(267,317		)
Net balance as of December 31, 2017	$	491,219		$	264,730		$	755,949

Gross balance as of June 30, 2018	$	708,133		$	315,133		$	1,023,266
Accumulated impairment losses	(216,914		)	(50,403		)	(267,317		)
Net balance as of June 30, 2018	$	491,219		$	264,730		$	755,949

Other intangible assets consisted of the following:



(in thousands)	As of June 30, 2018			As of December 31, 2017

Amortizable intangible assets:
Carrying amount:
Television network affiliation relationships	$	248,444		$	248,444
Customer lists and advertiser relationships	69,500			69,500
Other	42,823			37,069
Total carrying amount	360,767			355,013
Accumulated amortization:
Television network affiliation relationships	(55,830		)	(49,639		)
Customer lists and advertiser relationships	(28,255		)	(26,345		)
Other	(16,982		)	(10,269		)
Total accumulated amortization	(101,067		)	(86,253		)
Net amortizable intangible assets	259,700			268,760
Indefinite-lived intangible assets — FCC licenses	157,215			157,215
Total other intangible assets	$	416,915		$	425,975

Estimated amortization expense of intangible assets for each of the next five years is $13.8 million for the remainder of 2018, $27.5 million in 2019, $26.3 million in 2020, $23.9 million in 2021, $20.8 million in 2022, $15.8 million in 2023 and $131.6 million in later years.

- 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.

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