XML 40 R2.htm IDEA: XBRL DOCUMENT v3.19.3
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 29, 2019
Sep. 30, 2018
Sep. 29, 2019
Sep. 30, 2018
REVENUES - NET:        
Net revenues $ 167,438 $ 191,065 $ 526,424 $ 594,271
OPERATING EXPENSES:        
Compensation 57,828 73,501 188,719 230,650
Newsprint, supplements and printing expenses 11,147 12,913 34,072 40,333
Depreciation and amortization 5,575 19,041 40,504 57,496
Other operating expenses 82,905 90,527 254,196 271,993
Goodwill and other asset write-downs (see Notes 2 and 5) 295,270 14,148 296,009 14,207
Operating expenses, total 452,725 210,130 813,500 614,679
OPERATING LOSS (285,287) (19,065) (287,076) (20,408)
NON-OPERATING INCOME (EXPENSE):        
Interest expense (19,733) (23,346) (59,697) (60,181)
Equity income (loss) in unconsolidated companies, net (39) (473) (1,568) 573
Gains related to investments in unconsolidated companies   1,721   1,721
Gain (loss) on extinguishment of debt, net   36,286 (1,986) 30,918
Retirement benefit expense (4,330) (2,778) (19,386) (8,335)
Other - net 173 271 541 512
Non-operating income (expense), total (23,929) 11,681 (82,096) (34,792)
Loss before income taxes (309,216) (7,384) (369,172) (55,200)
Income tax benefit (4,513) (14,422) (4,982) (2,932)
NET INCOME (LOSS) $ (304,703) $ 7,038 $ (364,190) $ (52,268)
Net income (loss) per common share:        
Net income (loss) per share - basic (in dollars per share) $ (38.43) $ 0.90 $ (46.08) $ (6.74)
Net income (loss) per share - diluted (in dollars per share) $ (38.43) $ 0.90 $ (46.08) $ (6.74)
Weighted average number of common shares:        
Basic (in shares) 7,929 7,778 7,904 7,754
Diluted (in shares) 7,929 7,850 7,904 7,754
Advertising        
REVENUES - NET:        
Net revenues $ 76,754 $ 95,102 $ 247,404 $ 301,942
Audience        
REVENUES - NET:        
Net revenues 78,333 84,040 241,737 255,143
Other        
REVENUES - NET:        
Net revenues $ 12,351 $ 11,923 $ 37,283 $ 37,186