INVESTMENTS IN UNCONSOLIDATED COMPANIES

9 Months Ended

Sep. 29, 2013

INVESTMENTS IN UNCONSOLIDATED COMPANIES

2. INVESTMENTS IN UNCONSOLIDATED COMPANIES

The carrying value of investments in unconsolidated companies consisted of the following:

(in thousands)	% Ownership	September 29,		December 30,
Company	Interest	2013		2012
CareerBuilder, LLC	15.0	$	223,401	$	210,365
Classified Ventures, LLC	25.6	90,778		69,907
HomeFinder, LLC	33.3	1,535		2,573
Wanderful Media	12.2	3,094		2,551
Seattle Times Company (C-Corporation)	49.5	—		—
Ponderay (general partnership)	27.0	9,390		11,375
Other	Various	2,983		2,832
		$	331,181	$	299,603

In September 2013, Classified Ventures, LLC announced its intention to explore strategic alternatives for its Apartments.com business.

During the nine months ended September 29, 2013, our proportionate share of net income from certain investees listed in the table above was greater than 20% of our condensed consolidated net income before taxes. Summarized condensed financial information, as provided to us by these certain investees, is as follows:

	Nine Months Ended
	September 29,		September 23,
(in thousands)	2013		2012
Net revenues	$	979,034	$	913,688
Operating income	180,120		160,934
Net income	181,791		158,536

- 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+ Details