Investments in Associated Companies

3 Months Ended

Dec. 30, 2018

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 newspaper 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 30 2018	December 24 2017

Operating revenue	12,164	13,230
Operating expenses	9,095	9,982
Operating income	3,069	3,248
Company's 50% share of operating income	1,535	1,624
Less amortization of intangible assets	105	105
Equity in earnings of TNI	1,430	1,519

TNI makes weekly distributions of its earnings and for the 13 weeks ended December 30, 2018 and December 24, 2017 we received $549,000 and $1,567,000 in distributions, respectively.

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 30 2018	December 24 2017

Operating revenue	14,826	16,065
Operating expenses, excluding restructuring costs, depreciation and amortization	12,663	12,932
Restructuring costs	30	64
Depreciation and amortization	280	279
Operating income	1,853	2,790
Net income	1,398	1,728
Equity in earnings of MNI	699	864

MNI makes quarterly distributions of its earnings and in the 13 weeks ended December 30, 2018 and December 24, 2017 we received dividends of $750,000 in both years.