Investments in Associated Companies

9 Months Ended

Jun. 29, 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		39 Weeks Ended		40 Weeks Ended
(Thousands of Dollars)	June 29 2014	June 30 2013	June 29 2014		June 30 2013

Operating revenue	13,750	14,644	44,888		48,110
Operating expenses, excluding workforce adjustments, depreciation and amortization	11,449	12,300	36,116		39,051
Workforce adjustments	—	—	(87	)	—
Operating income	2,301	2,344	8,859		9,059
Company's 50% share of operating income	1,150	1,171	4,429		4,530
Less amortization of intangible assets	104	155	313		517
Equity in earnings of TNI	1,046	1,016	4,116		4,013

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 $(17,000) and $(173,000) in the 13 weeks ended June 29, 2014 and June 30, 2013, respectively, $(51,000) in the 39 weeks ended June 29, 2014, and $(449,000) in the 39 weeks ended June 30, 2013.

Annual amortization of intangible assets is estimated to be $418,000 in each of the 52 week periods ending June 2015, June 2016, June 2017, the 53 week period ending June 2018 and in the 52 week period ending June 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		39 Weeks Ended
(Thousands of Dollars)	June 29 2014	June 30 2013	June 29 2014	June 30 2013

Operating revenue	17,278	16,044	50,710	50,075
Operating expenses, excluding workforce adjustments, depreciation and amortization	14,390	12,773	42,246	40,450
Workforce adjustments	15	74	244	63
Depreciation and amortization	384	383	1,179	1,147
Operating income	2,489	2,814	7,041	8,415
Net income	1,579	1,754	4,464	5,249
Equity in earnings of MNI	790	876	2,232	2,658

- 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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