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INTANGIBLE ASSETS AND GOODWIL | 6 Months Ended
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Jun. 30, 2019
Goodwil And Intangible Assets Disclosure [Abstract] |
Goodwill And Intangible Assets Disclosure Text Block | 5.INTANGIBLE ASSETS AND GOODWILL Goodwill and certain intangible assets are not amortized for book purposes. They may be, however, amortized for tax purposes. The Company accounts for its acquired broadcasting licenses as indefinite-lived intangible assets and, similar to goodwill, these assets are reviewed at least annually for impairment. At the time of each review, if the fair value is less than the carrying value of the reporting unit, then a charge is recorded to the results of operations.The following table presents the changes in the carrying value of broadcasting licenses. Refer to Note 2, Business Combinations, and Note 13, Assets Held For Sale And Discontinued Operations, for additional information.
|  | Broadcasting Licenses
|  | Carrying Amount
|  | June 30, |  | December 31,
|  | 2019 |  | 2018
|  | (amounts in thousands)
Broadcasting licenses balance as of January 1, |  | $ | 2,516,625 |  | $ | 2,649,959
Disposition of radio stations - Cumulus Exchange (See Note 2) |  |  | (17,135) |  |  | -
Acquisition of radio stations - Cumulus Exchange (See Note 2) |  |  | 19,576 |  |  | -
Acquisition of radio stations - Emmis Acquisition |  |  | - |  |  | 12,785
Acquisition of a radio station - Jerry Lee Transaction |  |  | - |  |  | 27,346
Loss on impairment |  |  | - |  |  | (148,564)
Disposition of a radio station - WXTU Transaction |  |  | - |  |  | (24,901)
Assets held for sale - (See Note 13) |  |  | (805) |  |  | -
Ending period balance |  | $ | 2,518,261 |  | $ | 2,516,625
The following table presents the changes in goodwill. Refer to Note 2, Business Combinations, for additional information.
|  | Goodwill Carrying Amount
|  | June 30, |  | December 31,
|  | 2019 |  | 2018
|  | (amounts in thousands)
Goodwill balance before cumulative loss |  |  |  |  |
on impairment as of January 1, | $ | 982,663 |  | $ | 988,056
Accumulated loss on impairment as of January 1, |  | (443,194) |  |  | (126,056)
Goodwill beginning balance after cumulative loss |  |  |  |  |
on impairment as of January 1, |  | 539,469 |  |  | 862,000
Loss on impairment during year |  | - |  |  | (317,138)
Disposition of radio stations - Cumulus Exchange (See Note 2) |  |  | (4,862) |  |  | -
Acquisition of radio stations - Cumulus Exchange (See Note 2) |  | 2,080 |  |  | -
Disposition of a radio station - WXTU Transaction |  |  | - |  |  | (8,623)
Measurement period adjustments to acquired goodwill |  | - |  |  | (21,498)
Acquisition of radio stations - Emmis Acquisition |  | - |  |  | 332
Acquisition of a radio station - Jerry Lee Transaction |  |  | - |  |  | 24,396
Ending period balance | $ | 536,687 |  | $ | 539,469
Broadcasting Licenses Impairment Test The Company historically performed its annual broadcasting license impairment test during the second quarter of each year by evaluating its broadcasting licenses for impairment at the market level using the Greenfield method. During the second quarter of 2019, however, the Company voluntarily changed the date of its annual broadcasting license impairment test date from April 1 to December 1. The change was made to more closely align the impairment testing date with the Company’s long-term planning and forecasting process. The Company has determined this change in method of applying an accounting principle is preferable and does not result in adjustments to the Company’s financial statements when applied retrospectively. In response to the changing of the annual broadcasting license impairment test date, the Company considered whether the event represented a triggering event for interim impairment testing. During the three months ended June 30, 2019, the Company made an evaluation based on factors such as each market’s total market share and changes in operating cash flow margins, and concluded that it was more likely than not that the fair value of each market’s broadcasting licenses exceeded their carrying values at the time of the change in impairment test date. The change in the annual impairment testing date did not delay, accelerate or avoid an impairment charge. Goodwill Impairment Test The Company historically performed its annual goodwill impairment test during the second quarter of each year by assessing goodwill for its single reporting unit on a consolidated basis. During second quarter of 2019, however, the Company voluntarily changed the date of its annual goodwill impairment test date from April 1 to December 1. The change was made to more closely align the impairment testing date with the Company’s long-term planning and forecasting process. The Company has determined this change in method of applying an accounting principle is preferable and does not result in adjustments to the Company’s financial statements when applied retrospectively. In response to the changing of the annual goodwill impairment test date, the Company considered whether the event represented a triggering event for interim impairment testing. During the three months ended June 30, 2019, the Company made an evaluation based on factors such as changes in the Company’s long-term growth rate, changes in the Company’s operating cash flow margin, and trends in the Company’s market capitalization, and concluded that it was more likely than not that the fair value of the Company’s goodwill exceeded its carrying value at the time of the change in impairment test date. The change in the annual impairment testing date did not delay, accelerate or avoid an impairment charge.

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