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Intangible Assets, net | 6 Months Ended
--- | ---
Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Intangible Assets, net | Intangible Assets, net Intangible Assets, net The Company had the following intangible assets (in thousands) with their weighted average remaining amortization period (in years): Intangible Assets, net
| Weighted Average Remaining Amortization Period | As of
| June 30, 2024 |  | December 31, 2023
Customer Relationships | 6.0 | $ | 17,429 |  |  | $ | 17,325 |
Digital Networks | 13.8 | 803 |  |  | 803 |
Trade Names | 66.9 | 9,957 |  |  | 9,970 |
Logo | 0.5 | 7 |  |  | – |
Intangible Assets, gross |  | 28,196 |  |  | 28,098 |
Less Accumulated Amortization |  | (4,909) |  |  | (3,794) |
Foreign Currency Translation Adjustment |  | (1,834) |  |  | (1,311) |
Intangible Assets, net |  | $ | 21,453 |  |  | $ | 22,993 |
_______________________ During the three months ended June 30, 2024 and June 30, 2023 the Company recorded intangible asset amortization expense of $0.5 million for each reporting period. During the six months ended June 30, 2024 and June 30, 2023, the Company recorded intangible asset amortization expense of $1.0 million and $1.1 million, respectively. The Company did not incur any impairment charges on its definite and indefinite-lived intangible assets during the three and six months ended June 30, 2024. During the six months ended June 30, 2023, the Company recorded a total Impairment of Intangible Assets of $4.0 million within Operating Expenses in the condensed consolidated statement of operations. The impairment charge consisted of a write-down of definite-lived intangible assets of $2.8 million due to a decrease in an asset group’s estimated undiscounted cash flows. Furthermore, it was determined that the Frederator tradename, an indefinite-lived intangible asset, was impaired by $1.3 million. Expected future amortization of intangible assets subject to amortization as of June 30, 2024 is as follows (in thousands):
Fiscal Year: |
2024 | $ | 1,027 |
2025 | 2,040 |
2026 | 2,040 |
2027 | 2,040 |
2028 | 2,040 |
Thereafter | 6,764 |
Total | $ | 15,951 |
As of June 30, 2024, $5.5 million of the Company’s intangible assets related to the acquired trade names from the Wow acquisition had indefinite lives and are not subject to amortization.

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