Quarterly report pursuant to Section 13 or 15(d)

Goodwill (Tables)

v3.20.1
Goodwill (Tables)
 3 Months Ended
Mar. 31, 2020
Schedule of Changes in Goodwill
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, 2019		     
Three Months Ended
March 31, 2020
  
    
(Dollars in thousands)
  
Balance, beginning of period before cumulative loss on impairment,
    $ 28,818     
$
28,454
 
Accumulated loss on impairment
      (2,029 )    
 
(4,456
) 
  
 
 
     
 
 
  
Balance, beginning of period after cumulative loss on impairment
      26,789     
 
23,998
 
  
 
 
     
 
 
  
Acquisitions of radio stations
      —       
 
—  
 
Acquisitions of digital media entities
      6     
 
—  
 
Disposition of radio stations
      (29 )    
 
—  
 
Disposition of digital media entities
      (341 )    
 
—  
 
Impairments based on the estimated fair value goodwill
      (2,427 )    
 
(307
) 
  
 
 
     
 
 
  
Ending period balance
    $ 23,998     
$
23,691
 
  
 
 
     
 
 
  
Balance, end of period before cumulative loss on impairment
      28,454     
 
28,454
 
Accumulated loss on impairment
      (4,456 )    
 
(4,763
) 
  
 
 
     
 
 
  
Ending period balance
    $ 23,998     
$
23,691
 
  
 
 
     
 
 
  
Schedule of Assumptions Used
The key estimates and assumptions used for our enterprise valuations for the reporting units subject to testing are as follows:
Publishing Enterprise Valuations
    December 31, 2019  
March 31, 2020
Risk adjusted discount rate
    10.0%  
10.5%
Operating margin ranges
    1.5% – 3.9%  
0.0% – 3.9%
Long-term revenue growth rates
    0.5%  
0.5%