Investments in Associated Companies

6 Months Ended

Mar. 30, 2014

Investments In Associated Companies [Abstract]

Equity Method Investments Disclosure [Text Block]

INVESTMENTS IN ASSOCIATED COMPANIES

TNI Partners

In Tucson, Arizona, TNI, acting as agent for our subsidiary, Star Publishing Company (“Star Publishing”), and Citizen Publishing Company (“Citizen”), a subsidiary of Gannett Co. Inc., is responsible for printing, delivery, advertising, and subscription activities of the Arizona Daily Star as well as the related digital platforms and specialty publications. TNI collects all receipts and income and pays substantially all operating expenses incident to the partnership's operations and publication of the newspapers and other media.

Income or loss of TNI (before income taxes) is allocated equally to Star Publishing and Citizen.

Summarized results of TNI are as follows:



	13 Weeks Ended		26 Weeks Ended		27 Weeks Ended
(Thousands of Dollars)	March 30 2014	March 31 2013	March 30 2014		March 31 2013

Operating revenue	15,065	15,922	31,137		33,466
Operating expenses, excluding workforce adjustments, depreciation and amortization	12,297	13,114	24,667		26,751
Workforce adjustments	—	—	(87	)	—
Operating income	2,768	2,808	6,557		6,715
Company's 50% share of operating income	1,384	1,404	3,279		3,358
Less amortization of intangible assets	104	181	209		361
Equity in earnings of TNI	1,280	1,223	3,070		2,997

Star Publishing's 50% share of TNI depreciation and certain general and administrative expenses (income) associated with its share of the operation and administration of TNI are reported as operating expenses (benefit) in our Consolidated Statements of Operations and Comprehensive Income (Loss). These amounts totaled $(41,000) and $(108,000) in the 13 weeks ended March 30, 2014 and March 31, 2013, respectively, $(34,000) in the 26 weeks ended March 30, 2014, and $(276,000) in the 27 weeks ended March 31, 2013.

Annual amortization of intangible assets is estimated to be $418,000 in each of the 52 week periods ending March 2015, March 2016, March 2017, the 53 week period ending March 2018 and in the 52 week period ending March 2019.

Madison Newspapers, Inc.

We have a 50% ownership interest in MNI, which publishes daily and Sunday newspapers, and other publications in Madison, Wisconsin, and other Wisconsin locations, and operates their related digital platforms. Net income or loss of MNI (after income taxes) is allocated equally to us and The Capital Times Company (“TCT”). MNI conducts its business under the trade name Capital Newspapers.

Summarized results of MNI are as follows:



	13 Weeks Ended			26 Weeks Ended
(Thousands of Dollars)	March 30 2014	March 31 2013		March 30 2014	March 31 2013

Operating revenue	16,119	15,474		33,432	34,038
Operating expenses, excluding workforce adjustments, depreciation and amortization	14,597	13,628		27,856	27,677
Workforce adjustments	229	(11	)	229	(11	)
Depreciation and amortization	398	381		794	764
Operating income	895	1,476		4,553	5,608
Net income	625	952		2,885	3,495
Equity in earnings of MNI	313	510		1,442	1,781

- Definition

The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group.

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