Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets, Net and Goodwill (Tables)

v3.23.3
Intangible Assets, Net and Goodwill (Tables)
 9 Months Ended
Sep. 30, 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
September 30, 2023 December 31, 2022
Customer Relationships 6.7 $ 17,325  $ 17,325 
Digital Networks 14.5 803  3,537 
Trade Names 67.7 10,360  11,783 
Technology – –  293 
Other Intangible Assets (a) – –  325 
Intangible Assets, Gross 28,488  33,263 
Less Accumulated Amortization (3,268) (2,398)
Foreign Currency Translation Adjustment (1,635) (1,698)
Intangible Assets, Net $ 23,585  $ 29,167 
_______________________
(a)Represents the logo and website intangible assets related to the merger with A Squared that has been fully amortized during the nine months ended September 30, 2023.
Summary of Expected Future Intangible Asset Amortization
Expected future amortization of intangible assets subject to amortization as of September 30, 2023 is as follows (in thousands):
Fiscal Year:
2023 516 
2024 2,064 
2025 2,064 
2026 2,064 
2027 2,064 
Thereafter 8,858 
Total $ 17,630 
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 49  –  49 
Goodwill as of September 30, 2023 $ 20,569  $ –  $ 20,569