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Note 4 - Goodwill and Other Intangible Assets | 12 Months Ended
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Sep. 29, 2019
Notes to Financial Statements |
Goodwill and Intangible Assets Disclosure [Text Block] | 4 GOODWILL AND OTHER INTANGIBLE ASSETS Changes in the carrying amount of goodwill related to continuing operations are as follows:
(Thousands of Dollars) |  | 2019 |  |  | 2018 |
Goodwill, gross amount |  |  | 1,534,905 |  |  |  | 1,535,155 |
Accumulated impairment losses |  |  | (1,288,729 | ) |  |  | (1,288,729 | )
Goodwill, beginning of year |  |  | 246,176 |  |  |  | 246,426 |
Goodwill acquired in business combinations |  |  | 4,133 |  |  |  | — |
Goodwill allocated to disposed businesses |  |  | — |  |  |  | (250 | )
Goodwill, end of year |  |  | 250,309 |  |  |  | 246,176 |
Identified intangible assets related to continuing operations consist of the following:
|  | September 29 |  |  | September 30 |
(Thousands of Dollars) |  | 2019 |  |  | 2018 |
Non-amortized intangible assets: |  |  |  |  |  |  |  |
Mastheads |  |  | 21,883 |  |  |  | 21,883 |
Amortizable intangible assets: |  |  |  |  |  |  |  |
Customer and newspaper subscriber lists |  |  | 697,145 |  |  |  | 692,886 |
Less accumulated amortization |  |  | 611,786 |  |  |  | 594,950 |
|  |  | 85,359 |  |  |  | 97,936 |
Non-compete and consulting agreements |  |  | 28,675 |  |  |  | 28,524 |
Less accumulated amortization |  |  | 28,524 |  |  |  | 28,524 |
|  |  | 151 |  |  |  | — |
|  |  | 107,393 |  |  |  | 119,819 |
In January 2017, the FASB issued a new standard simplifying the assessment of a goodwill impairment. The new standard maintains a qualitative and quantitative assessment but eliminates the Step 2 of the quantitative assessment. The new standard also changes the way a goodwill impairment is calculated. For companies that have reporting units with zero or negative carrying value, the new standard requires disclosure of the amount of goodwill for those reporting units. All of the Company’s goodwill is attributed to the single reporting unit with negative carrying value. The Company performed its annual assessment on the first day of our fourth fiscal quarter, and determined the fair value of our single reporting unit was significantly in excess of carrying value and as such, there was no impairment in 2019 or 2018 . In 2017 , due to continuing revenue declines, we recorded non-cash charges to reduce the carrying value of non-amortized intangible assets. We also recorded pretax charges to reduce the carrying value of other assets in 2019, 2018 and 2017 . Such charges are recorded in assets loss (gain) on sales, impairments and other in the Consolidated Statements of Income and Comprehensive Income (Loss). We recorded deferred income tax benefits related to these charges. A summary of the pretax impairment charges is included in the table below:
(Thousands of Dollars) |  | 2019 |  |  | 2018 |  |  | 2017 |
Continuing operations: |  |  |  |  |  |  |  |  |  |  |  |
Non-amortized intangible assets |  |  | — |  |  |  | — |  |  |  | 2,035 |
Property, equipment and other assets |  |  | — |  |  |  | 267 |  |  |  | 482 |
|  |  | — |  |  |  | 267 |  |  |  | 2,517 |
In January 2019, we purchased the businesses of Kenosha News and Lake Geneva Regional News. In February 2019, TownNews purchased the content management system ("CMS") business from GTxcel. The transactions were funded with cash on the balance sheet. As part of initial estimates $3,433,000 was recorded in goodwill and $3,650,000 was recorded in other intangible assets, net. The $3,650,000 of other intangible assets, net relate to acquired customer lists, which will be amortized over a 10 year period. These initial estimates will be reviewed in subsequent quarters as more information becomes available and finalized in the 13 weeks ended March 29, 2020. Annual amortization of intangible assets for the years ending September 2020 to September 2024 is estimated to be $16,016,000, $14,853,000, $12,673,000, $12,052,000, and $10,325,000, respectively.

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
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