Investments in Associated Companies

9 Months Ended

Jun. 28, 2015

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
(Thousands of Dollars)	June 28 2015	June 29 2014	June 28 2015	June 29 2014

Operating revenue	13,063	13,750	43,035	44,888
Operating expenses, excluding workforce adjustments, depreciation and amortization	10,936	11,449	34,783	36,116
Workforce adjustments	—	—	—	(87	)
Operating income	2,127	2,301	8,252	8,859
Company's 50% share of operating income	1,064	1,150	4,127	4,429
Less amortization of intangible assets	105	104	314	313
Equity in earnings of TNI	959	1,046	3,813	4,116

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 $45,000 and $(17,000) in the 13 weeks ended June 28, 2015 and June 29, 2014, respectively, and totaled $(153,000) and $(51,000) in the 39 weeks ended June 28, 2015 and June 29, 2014, respectively.

Annual amortization of intangible assets is estimated to be $418,000 in each of the 52 week periods ending June 2016, June 2017, June 2018 and the 53 week period ending June 2019 and $314,000 in the 52 week period ending June 2020.

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 28 2015	June 29 2014	June 28 2015	June 29 2014

Operating revenue	16,580	17,278	51,258	50,710
Operating expenses, excluding workforce adjustments, depreciation and amortization	13,518	14,390	42,328	42,246
Workforce adjustments	261	15	318	244
Depreciation and amortization	463	384	1,390	1,179
Operating income	2,338	2,489	7,222	7,041
Net income	1,491	1,579	4,603	4,464
Equity in earnings of MNI	746	790	2,301	2,232