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Other Intangibles (Tables)
 12 Months Ended
Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]  
Summary of Other Intangibles Acquired
Other intangibles as of December 31, 2019 are comprised of the following:
 
 
  
Asset
 
  
Accumulated

amortization
 
  
Net

asset
 
  
Amortization

period

(years)
Advertiser relationships
  
$
2,819,879
 
  
$
(1,495,465
) 
  
$
1,324,414
 
  
6-11
Assembled workforce
  
 
176,295
 
  
 
(58,765
) 
  
 
117,530
 
  
1
Franchise rights
  
 
25,149,300
 
  
 
(42,993
) 
  
 
25,106,307
 
  
10
Sponsorship base
  
 
1,164,600
 
  
 
(79,292
) 
  
 
1,085,308
 
  
2
Sports program rights
  
 
267,400
 
  
 
(179,216
) 
  
 
88,184
 
  
3
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
  
 
29,577,474
 
  
 
(1,855,731
) 
  
 
27,721,743
 
  
 
Brands
  
 
1,582,663
 
  
 
—  
 
  
 
1,582,663
 
  
 
Other intangibles with indefinite lives
  
 
28,824
 
  
 
—  
 
  
 
28,824
 
  
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
  
$
31,188,961
 
  
$
(1,855,731
) 
  
$
29,333,230
 
  
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
Other intangibles as of December 31, 2018 are comprised of the following:
 
 
  
Asset
 
  
Accumulated

amortization
 
  
Net

asset
 
  
Amortization

period

(years)
Advertiser relationships
  
$
2,819,879
 
  
$
(1,292,300
) 
  
$
1,527,579
 
  
6-11
Advertiser lists
  
 
16,251
 
  
 
(11,732
) 
  
 
4,519
 
  
3
Sports program rights
  
 
267,400
 
  
 
(91,032
) 
  
 
176,368
 
  
3
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
  
 
3,103,530
 
  
 
(1,395,064
) 
  
 
1,708,466
 
  
 
Brands
  
 
1,085,888
 
  
 
—
 
  
 
1,085,888
 
  
 
Other intangibles with indefinite lives
  
 
28,824
 
  
 
—
 
  
 
28,824
 
  
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
  
$
4,218,242
 
  
$
(1,395,064
) 
  
$
2,823,178
 
  
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
Summary of Estimated Future Amortization Expense Related to Intangible Assets
The Company recorded amortization expense of $0.5 million for each of the years ended December 31, 2018 and 2019. Estimated future amortization expense related to intangible assets subject to amortization for the next five years and thereafter is as follows:
 
2020
  $3,474,036 
2021
   3,161,987 
2022
   2,648,020 
2023
   2,648,020 
2024
   2,648,020 
Thereafter
   13,141,660 
   
 
 
 
Total
  $27,721,743