Annual report pursuant to Section 13 and 15(d)

Goodwill and Intangible Assets, Net (Tables)

v3.22.1
Goodwill and Intangible Assets, Net (Tables)
 12 Months Ended
Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Goodwill
                       
    Content Production & Distribution     Media Advisory & Advertising Services     Total  
Goodwill as of December 31, 2020   $ 10,366     $ –     $ 10,366  
Acquisition of ChizComm Entities     –       9,607       9,607  
Goodwill Impairment             (4,778 )     (4,778 )
Foreign Currency Translation Adjustment     –       32       32  
Goodwill as of December 31, 2021   $ 10,366     $ 4,861     $ 15,227  
Schedule of Intangible Asset
               
    As of December 31,  
    2021     2020  
Trademarks (a)   $ 130     $ 130  
Customer Relationships (b)     6,132       –  
Non-Compete (c)     48       –  
Trade names (d)     4,000       –  
Other Intangible Assets (a)     303       299  
Intangible Assets, Gross     10,613       429  
                 
Foreign Currency Translation Adjustment     24       –  
Less Accumulated Amortization     (904 )     (400 )
Intangible Assets, Net   $ 9,733     $ 29  

__________________

  (a)

During the years ended December 31, 2021 and December 31, 2020, the Company recognized, $16,277 and $49,388, respectively, in amortization expense related to the Trademarks, Product Masters, and Other Intangible Assets.

 
  (b)

Amount represents the fair value of the ChizComm and ChizComm Beacon Media Customer Relationships with a useful life of 12 years. Amortization expense for the year ended December 31, 2021 was $0.5 million.

 
  (c)

Amount represents the fair value of the Non-Compete agreements as part of the ChizComm acquisition. The Non-Compete agreements have a useful life of 3 years. Amortization expense for the year ended December 31, 2021 was $18,345.

 
  (d)

Amount represents the fair value of the Stan Lee Assets acquired through the consolidation of the Stan Lee Universe variable interest entity. The assets have been determined to have a useful life of 70 years. The amortization expense was deemed immaterial during the fourth quarter of 2021.
Expected future intangible asset amortization
       
Fiscal Year:      
2022   $ 542  
2023     538  
2024     532  
2025     532  
2026     532  
Thereafter     7,057  
Total   $ 9,733