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Investments In Associated Companies
 12 Months Ended
Sep. 28, 2025
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 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 records 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 is allocated equally to Star Publishing and Citizen.
Summarized financial information of TNI is as follows:
(Thousands of Dollars)September 28
2025		September 29
2024
ASSETS
Current assets712 1,648 
Investments and other assets770 1,020 
Total assets1,482 2,668 
LIABILITIES AND MEMBERS' EQUITY (DEFICIT)
Liabilities2,761 3,512 
Members' equity (deficit)(1,279)(844)
Total liabilities and members' equity (deficit)1,482 2,668 
Summarized results of TNI are as follows:
(Thousands of Dollars)202520242023
Operating revenue22,727 27,360 31,076 
Operating expenses16,700 20,609 24,446 
Operating income6,027 6,751 6,630 
Net income5,950 6,655 7,142 
Equity in earnings of TNI2,975 3,328 3,571 
TNI makes periodic distributions of its earnings. We received $3.5 million, $3.2 million, and $3.6 million in distributions in 2025, 2024 and 2023, respectively.
At September 28, 2025 and September 29, 2024, the carrying value of our 50% investment in TNI is $14.7 million and $15.1 million, respectively. The difference between our carrying value and our 50% share of the members' equity of TNI relates principally to goodwill of $12.4 million and other identified intangible assets of $2.3 million, certain of which have been amortized over their estimated useful lives. See Note 4.
TNI provides editorial services to the Company. Editorial service costs are included in other operating expenses in the Consolidated Statements of (Loss) Income and Comprehensive (Loss) Income and totaled $3.7 million, $3.9 million, and $4.4 million in 2025, 2024 and 2023, 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 related digital sites. 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 financial information of MNI is as follows:
(Thousands of Dollars)September 28
2025		September 29
2024
ASSETS
Current assets7,980 8,192 
Investments and other assets28,528 28,816 
Total assets36,508 37,008 
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities5,526 5,296 
Other liabilities6,043 6,088 
Stockholders' equity24,939 25,624 
Total liabilities and stockholders' equity36,508 37,008 
Summarized results of MNI are as follows:
(Thousands of Dollars)202520242023
Operating revenue37,585 41,323 44,109 
Operating expenses, excluding restructuring costs, depreciation and amortization28,741 31,619 30,654 
Restructuring costs118 221 143 
Depreciation and amortization358 483 539 
Operating income8,368 9,000 12,773 
Net income2,606 2,488 5,911 
Equity in earnings of MNI1,303 1,244 2,956 
MNI makes periodic distributions of its earnings. We received $1.7 million, $1.2 million, and $2.2 million in distributions in 2025, 2024 and 2023, respectively.
We provide editorial services to MNI. Editorial service fees are included in other revenue in the Consolidated Statements of (Loss) Income and Comprehensive (Loss) Income and totaled $5.3 million, $5.5 million, and $5.4 million in 2025, 2024 and 2023, respectively.
At September 28, 2025 and September 29, 2024, the carrying value of our 50% investment in MNI is $12.5 million and $12.8 million, respectively.