Investments in Associated Companies

3 Months Ended

Dec. 28, 2014

Schedule of Equity Method Investments [Line Items]

Equity Method Investments and Joint Ventures 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
(Thousands of Dollars)	December 28 2014	December 29 2013

Operating revenue	15,600	16,072
Operating expenses, excluding workforce adjustments, depreciation and amortization	12,102	12,371
Workforce adjustments	—	(87	)
Operating income	3,498	3,788
Company's 50% share of operating income	1,749	1,894
Less amortization of intangible assets	105	105
Equity in earnings of TNI	1,644	1,789

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. These amounts totaled $(68,000) and $8,000 in the 13 weeks ended December 28, 2014 and December 29, 2013, respectively.

Annual amortization of intangible assets is estimated to be $418,000 in each of the 52 week periods ending December 2015, December 2016, December 2017, the 53 week period ending December 2018 and the 52 week period ending December 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
(Thousands of Dollars)	December 28 2014	December 29 2013

Operating revenue	18,657	17,312
Operating expenses, excluding workforce adjustments, depreciation and amortization	14,631	13,259
Workforce adjustments	11	—
Depreciation and amortization	464	398
Operating income	3,551	3,655
Net income	2,224	2,259
Equity in earnings of MNI	1,112	1,130

- 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.

+ References+ Details