Goodwill and Other Intangible Assets (Tables)
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6 Months Ended |
Jun. 30, 2026 |
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| Intangible Asset, Goodwill and Other [Abstract] |
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| Schedule of Fair Value Measurement Inputs |
The key assumptions used in applying the direct valuation method are summarized as follows:
| | | | | | | | | | June 30, 2026 | | Discount Rate | 13.4% | | Long-term Revenue Growth Rate | (2.5)% | | Low | High | | Mature Market Share* | 19.0% | 75.0% | | Operating Profit Margin | 27.3% | 47.7% | | | |
| | | | | | | | | | March 31, 2026 | | Discount Rate | 13.7% | | Long-term Revenue Growth Rate | (2.5)% | | Low | High | | Mature Market Share* | 18.7% | 71.2% | | Operating Profit Margin | 27.3% | 47.7% | | | |
* Market share assumption used when reliable third-party data is available. Otherwise, Company results and forecasts are utilized.
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| Intangible Asset, Indefinite-Lived |
The following tables present details of our intangible assets as of June 30, 2026 and December 31, 2025, respectively (in thousands):
| | | | | | | | | | | | | | | | | | | | | | | | | June 30, 2026 | | Weighted Average Useful Life (in Years) | | Gross Carrying Amount | | Accumulated Amortization | | Net Carrying Amount | | Intangible Assets: | | | | | | | | FCC licenses | Indefinite | | $ | 111,652 | | | $ | — | | | $ | 111,652 | | | | | | | | | | | Content rights and other intangible assets | 0.3 - 7 | | 22,430 | | | (15,973) | | | 6,457 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Total | | | $ | 134,082 | | | $ | (15,973) | | | $ | 118,109 | |
| | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2025 | | Weighted Average Useful Life (in Years) | | Gross Carrying Amount | | Accumulated Amortization | | Net Carrying Amount | | Intangible Assets: | | | | | | | | FCC licenses | Indefinite | | $ | 146,883 | | | $ | — | | | $ | 146,883 | | | | | | | | | | | Content rights and other intangible assets | 1 - 7 | | 22,430 | | | (14,266) | | | 8,164 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Total | | | $ | 169,313 | | | $ | (14,266) | | | $ | 155,047 | |
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| Intangible Asset, Finite-Lived |
The following tables present details of our intangible assets as of June 30, 2026 and December 31, 2025, respectively (in thousands):
| | | | | | | | | | | | | | | | | | | | | | | | | June 30, 2026 | | Weighted Average Useful Life (in Years) | | Gross Carrying Amount | | Accumulated Amortization | | Net Carrying Amount | | Intangible Assets: | | | | | | | | FCC licenses | Indefinite | | $ | 111,652 | | | $ | — | | | $ | 111,652 | | | | | | | | | | | Content rights and other intangible assets | 0.3 - 7 | | 22,430 | | | (15,973) | | | 6,457 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Total | | | $ | 134,082 | | | $ | (15,973) | | | $ | 118,109 | |
| | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2025 | | Weighted Average Useful Life (in Years) | | Gross Carrying Amount | | Accumulated Amortization | | Net Carrying Amount | | Intangible Assets: | | | | | | | | FCC licenses | Indefinite | | $ | 146,883 | | | $ | — | | | $ | 146,883 | | | | | | | | | | | Content rights and other intangible assets | 1 - 7 | | 22,430 | | | (14,266) | | | 8,164 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Total | | | $ | 169,313 | | | $ | (14,266) | | | $ | 155,047 | |
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| Intangible Asset, Finite-Lived, and Capitalized Cost, Software to be Sold, Leased, or Marketed, Estimated Amortization Expense |
Estimated future amortization expense for each of the five succeeding fiscal years and thereafter as of June 30, 2026 is as follows (in thousands):
| | | | | | | 2026 (remainder) | $ | 1,489 | | | 2027 | 1,978 | | | 2028 | 1,880 | | | 2029 | 646 | | | 2030 | 152 | | | Thereafter | 312 | | | $ | 6,457 | |
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