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Note 4 - Goodwill and Other Intangible Assets
 9 Months Ended
Jun. 30, 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 are as follows:
 
 
 
    
39 Weeks Ended
  
(Thousands of Dollars)
 
June 30, 2019
  
         
Goodwill, gross amount
    
1,535,155
  
Accumulated impairment losses
    
(1,288,979
 )
Goodwill, beginning of period
    
246,176
  
Goodwill acquired in business combinations
    
3,551
  
Goodwill, end of period
    
249,727
  
 
 
Identified intangible assets consist of the following:
 
(Thousands of Dollars)
 
June 30, 2019
    
 
September 30, 2018
  
                 
Nonamortized intangible assets:
                
Mastheads
    
21,883
      
21,883
  
Amortizable intangible assets:
                
Customer and newspaper subscriber lists
    
696,632
      
692,886
  
Less accumulated amortization
    
607,709
      
594,950
  
     
88,923
      
97,936
  
Other intangible assets, net
    
110,806
      
119,819
  
 
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. Both transactions were funded with cash on the balance sheet. As part of initial estimates $
3,551,000
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.
 
Annual amortization of intangible assets for the years ending
June 
2020
to
June 
2024
is estimated to be $
16,060,000
, $
15,634,000
, $
12,744,000
, $
12,263,000
and $
11,237,000
, respectively.