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Note 4 - Goodwill and Other Intangible Assets | 6 Months Ended
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Mar. 29, 2020
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:
|  |  | 26 Weeks Ended |
|  |  | March 29, |
(Thousands of Dollars) |  | 2020 |
Goodwill, gross amount |  |  | 1,539,038 |
Accumulated impairment losses |  |  | (1,288,729 | )
Goodwill, beginning of period |  |  | 250,309 |
Goodwill acquired in business combinations |  |  | 63,559 |
Goodwill, end of period |  |  | 313,868 |
Identified intangible assets consist of the following:
| March 29, | September 29,
(Thousands of Dollars) | 2020 | 2019
Non-amortized intangible assets: |  |
Mastheads | 42,722 | 21,883
Amortizable intangible assets: |  |
Customer and newspaper subscriber lists | 790,586 | 697,145
Less accumulated amortization | 620,443 | 611,786
| 170,143 | 85,359
Non-compete and consulting agreements | 28,675 | 28,675
Less accumulated amortization | 28,562 | 28,524
| 113 | 151
Other intangible assets, net | 212,978 | 107,393
The Company recognized $38,780,000 of advertiser relationships, $36,060,000 of subscriber relationships, $17,130,000 of commercial print relationships and $21,680,000 of indefinite-lived masthead assets as part of the Transactions. Annual amortization of intangible assets for the five years ending December 2021 to December 2025 is estimated to be $ 26,965,000 , $ 24,382,000 , $ 23,393,000 , $ 22,614,000 and $ 20,355,000 , respectively. The weighted average amortization period for those amortizable assets acquired as part of the Transactions is 9.2 years. As of March 29, 2020, the weighted average amortization periods for amortizable intangible assets are 5.4 years for advertiser relationships, 4.9 years for customer relationships, 8.7 years for subscriber relationships. The weighted average amortization period in total for all amortizable intangible assets is 6.4 years. The Company recognized $ 63,559 ,000 of Goodwill as part of the Transactions. The value of the acquired Goodwill is primarily related to an assembled workforce and expected synergies from combining operations. For tax purposes, the amount of Goodwill that is expected to be deductible is $ 28,118 ,000. Refer to Note 8 for more information regarding preliminary purchase accounting for the Transactions.

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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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