Annual report pursuant to Section 13 and 15(d)

Intangible Assets, net and Goodwill (Tables)

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Intangible Assets, net and Goodwill (Tables)
 12 Months Ended
Dec. 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 As of December 31,
2023 2022
Customer Relationships 6.5 $ 17,325  $ 17,325 
Digital Networks 14.3 803  3,537 
Trade Names 67.4 9,970  11,783 
Technology – –  293 
Other Intangible Assets (a) – –  325 
Intangible Assets, gross 28,098  33,263 
Less Accumulated Amortization (3,794) (2,398)
Foreign Currency Translation Adjustment (1,311) (1,698)
Intangible Assets, net $ 22,993  $ 29,167 
_______________________
(a)Represents the logo and website intangible assets related to the merger with A Squared that has been fully amortized during the year ended December 31, 2023.
Summary of Expected Future Intangible Asset Amortization
Expected future amortization of intangible assets subject to amortization as of December 31, 2023 is as follows (in thousands):
Fiscal Year:
2024 $ 2,100 
2025 2,100 
2026 2,100 
2027 2,100 
2028 2,100 
Thereafter 6,836 
Total $ 17,336 
Schedule of Goodwill
The following table summarizes the changes in the carrying amount of goodwill remaining in one of its reporting units (in thousands):
Content Production & Distribution
Goodwill as of December 31, 2022 (1) $ 33,474 
Goodwill Impairment (33,534)
Foreign Currency Translation Adjustment 60 
Goodwill as of December 31, 2023 $ – 
(1) The December 31, 2022 balance is adjusted to include the correction of error as noted in Note 2 within the Restatement of Previously Issued 2022 Financial Statements and Unaudited Interim 2023 Financial Statements section.