Salem Media Group, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Goodwill

Goodwill

3 Months Ended

Mar. 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

NOTE 10. GOODWILL

We account for goodwill in accordance with FASB ASC Topic 350 Intangibles—Goodwill and Other. We do not amortize goodwill, but rather test for impairment annually or more frequently if events or circumstances indicate that an asset may be impaired. We perform our annual impairment testing during the fourth quarter of each year, which coincides with our budget and planning process for the upcoming year. There were no indications of impairment during the period ended March 31, 2019.

The following table presents the changes in goodwill including business acquisitions and dispositions as discussed in Note 3 of our Condensed Consolidated Financial Statements.


Goodwill	Twelve Months Ended December 31, 2018			Three Months Ended March 31, 2019
	(Dollars in thousands)
Balance, beginning of period before cumulative loss on impairment	$	28,453		$	28,818
Accumulated loss on impairment		(2,029	)		(2,029	)

Balance, beginning of period after cumulative loss on impairment		26,424			26,789

Acquisitions of radio stations		7			—
Acquisitions of digital media entities		986			—
Dispositions of radio stations		(628	)		(3	)
Dispositions of digital media entities		—			(341	)

Balance, end of period before cumulative loss on impairment		28,818			28,474

Accumulated loss on impairment		(2,029	)		(2,029	)

Ending period balance	$	26,789		$	26,445