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Investments In Associated Companies | 6 Months Ended
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Mar. 26, 2023
Equity Method Investments and Joint Ventures [Abstract] |
Investments In Associated Companies | INVESTMENTS IN ASSOCIATED COMPANIES TNI Partners In Tucson, Arizona, TNI, acting as agent for our subsidiary, Star Publishing Company (“Star Publishing”), and Gannets Co. Inc.'s subsidiary Citizen Publishing Company (“Citizen”), 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:
| Three months ended | Six months ended
(Thousands of Dollars) | March 26, 2023 | March 27, 2022 | March 26, 2023 | March 27, 2022
Operating revenue | 8,169 |  | 8,594 |  | 16,710 |  | 17,575 |
Operating expenses | 6,889 |  | 6,409 |  | 13,364 |  | 12,873 |
Operating income | 1,280 |  | 2,185 |  | 3,346 |  | 4,702 |
Net Income | 1,137 |  | 1,093 |  | 3,666 |  | 2,351 |
Equity in earnings of TNI | 569 |  | 1,093 |  | 1,833 |  | 2,351 |
TNI makes periodic distributions of its earnings and for the three months ended March 26, 2023, and March 27, 2022, we received $1.4 million in distributions in both periods. In the six months ended March 26, 2023 and March 27, 2022, we received $2.3 million in distributions in both periods. 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 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:
| Three months ended | Six months ended
(Thousands of Dollars) | March 26, 2023 | March 27, 2022 | March 26, 2023 | March 27, 2022
Operating revenue | 10,603 |  | 11,561 |  | 22,507 |  | 23,756 |
Operating expenses, excluding restructuring costs, depreciation and amortization(1) | 8,681 |  | 9,344 |  | 18,026 |  | 18,720 |
Restructuring costs | 101 |  | — |  | 127 |  | — |
Depreciation and amortization | 135 |  | 170 |  | 273 |  | 340 |
Operating income | 1,686 |  | 2,047 |  | 4,081 |  | 4,696 |
Net income | 207 |  | 627 |  | 1,014 |  | 1,620 |
Equity in earnings of MNI | 104 |  | 314 |  | 507 |  | 810 |
(1) Amounts were reclassed to align with current year presentation MNI makes periodic distributions of its earnings and in the three months ended March 26, 2023 and March 27, 2022, we received $0.1 million and $0.5 million in distributions, respectively. In the six months ended March 26, 2023 and March 27, 2022 we received distributions of $0.4 million and $0.8 million, respectively.

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- 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 Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -URI https://asc.fasb.org/topic&trid=2196965 + Details
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