Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets, Net and Goodwill (Tables)

v3.23.1
Intangible Assets, Net and Goodwill (Tables)
 3 Months Ended
Mar. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of intangible asset
The Company had the following intangible assets (in thousands) with their weighted average remaining amortization period (in years):
Intangible Assets, Net
Weighted Average Remaining Amortization Period
March 31, 2023 December 31, 2022
Customer Relationships 6.9 $ 17,325  $ 17,325 
Digital Networks 15.0 803  3,537 
Trade Names 68.2 10,360  11,783 
Technology – –  293 
Other Intangible Assets (a) – –  325 
Intangible Assets, Gross 28,488  33,263 
Less Accumulated Amortization (2,228) (2,398)
Foreign Currency Translation Adjustment (1,698) (1,698)
Intangible Assets, Net $ 24,562  $ 29,167 
_______________________
(a)Represents the remaining unamortized logo and website intangible assets related to the merger with A Squared.
Summary of expected future intangible asset amortization
Expected future amortization of intangible assets subject to amortization as of March 31, 2023 is as follows (in thousands):
Fiscal Year:
2023 $ 1,545 
2024 2,058 
2025 2,058 
2026 2,058 
2027 2,058 
Thereafter 8,846 
Total $ 18,623 
Schedule of goodwill
The following table summarizes the changes in the carrying amount of goodwill by reporting unit (in thousands):
Content Production & Distribution Media Advisory & Advertising Services Total
Goodwill as of December 31, 2022 $ 31,807  $ –  $ 31,807 
Goodwill Impairment (11,287) –  (11,287)
Foreign Currency Translation Adjustment –  –  – 
Goodwill as of March 31, 2023 $ 20,520  $ –  $ 20,520