INVESTMENTS IN UNCONSOLIDATED COMPANIES

12 Months Ended

Dec. 30, 2012

INVESTMENTS IN UNCONSOLIDATED COMPANIES

INVESTMENTS IN UNCONSOLIDATED COMPANIES

2.    INVESTMENTS IN UNCONSOLIDATED COMPANIES

Our ownership interest and investment in unconsolidated companies consisted of the following:

(in thousands) Company	% Ownership Interest		December 30, 2012		December 25, 2011
CareerBuilder, LLC		15.0	$	210,365	$	218,805
Classified Ventures, LLC		25.6		69,907		66,886
HomeFinder, LLC		33.3		2,573		1,628
Seattle Times Company (C-Corporation)		49.5		–		–
Ponderay (general partnership)		27.0		11,375		11,800
Other		Various		5,383		5,774
			$	299,603	$	304,893

We received dividends and other equity distributions from our investments in unconsolidated companies as follows:

	Years Ended
(in thousands)	December 30, 2012		December 25, 2011
CareerBuilder, LLC	$	15,000	$	7,500
Classified Ventures, LLC		18,908		17,375
Other		4,692		6,750
	$	38,600	$	31,625

We purchased some of our newsprint supply from Ponderay Newsprint Company ("Ponderay") during fiscal years 2012, 2011 and 2010.

Our investment in The Seattle Times Company ("STC") is zero as a result of accumulative losses in previous years exceeding our carrying value. No future income or losses from STC will be recorded until our carrying value on our balance sheet is restored through future earnings by STC.

We also incurred expenses related to the purchase of products and services provided by these companies, for the uploading and hosting of online advertising on behalf of our newspapers' advertisers.

The following table summarizes expenses incurred for products provided by unconsolidated companies, which are recorded in operating expenses as follows:

	Years Ended
(in thousands)	December 30, 2012		December 25, 2011		December 26, 2010
CareerBuilder, LLC	$	1,197	$	1,230	$	1,272
Classified Ventures, LLC		14,390		12,552		11,073
Ponderay (general partnership)		23,813		20,414		23,048

As of December 30, 2012, and December 25, 2011, we had approximately $1.5 million and $3.6 million, respectively, payable collectively to CareerBuilder, LLC and Ponderay.

The tables below present the summarized financial information for our investments in unconsolidated companies on a combined basis:

(in thousands)	December 30, 2012		December 25, 2011
Current assets	$	412,959	$	480,050
Noncurrent assets		584,773		563,286
Current liabilities		304,317		359,891
Noncurrent liabilities		246,543		228,713
Equity		446,872		454,732

	Years Ended
(in thousands)	December 30, 2012		December 25, 2011		December 26, 2010
Net revenues	$	1,427,657	$	1,332,394	$	1,195,755
Operating income		169,236		154,257		102,863
Net income		141,387		171,305		95,855