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

Quarterly report pursuant to Section 13 or 15(d)

Goodwill

Goodwill

9 Months Ended

Sep. 30, 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 September 30, 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			Nine Months Ended September 30, 2019
	(Dollars in thousands)
Balance before cumulative loss on impairment, beginning of period	$	28,453		$	28,818
Accumulated loss on impairment, beginning of period		(2,029	)		(2,029	)
Balance after cumulative loss on impairment, beginning of period		26,424			26,789
Acquisitions of radio stations		7			—
Acquisitions of digital media entities		986			6
Dispositions of radio stations		(628	)		(29	)
Dispositions of digital media entities		—			(341	)
Balance before cumulative loss on impairment, end of period		28,818			28,454
Accumulated loss on impairment, end of period		(2,029	)		(2,029	)
Balance after cumulative loss on impairment, end of period	$	26,789		$	26,425