DIVESTITURE

6 Months Ended

Jun. 29, 2014

DIVESTITURE

DIVESTITURE

2.  DIVESTITURE

On May 5, 2014, we completed the sale of the outstanding capital stock of Anchorage to Alaska Dispatch Publishing, LLC for $34 million in cash. The financial results of Anchorage have been reported as discontinued operations on our condensed consolidated financial statements for all periods presented herein.

As of December 29, 2013, the major classes of Anchorage’s assets and liabilities included in discontinued operations were as follows:

	December 29,
(in thousands)	2013
Current assets	$	5,390
Property, plant and equipment, net	8,362
Intangible and other assets	17,275
Total assets	$	31,027
Current liabilities	$	2,456
Non current liabilities	54
Total liabilities	$	2,510

The following table summarizes the financial information for the Anchorage’s operations for the quarters and six months ended June 29, 2014, and June 30, 2013:

	Quarters Ended				Six Months Ended
	June 29,		June 30,		June 29,		June 30,
(in thousands)	2014		2013		2014		2013
Revenues	$	2,651	$	7,181	$	9,186	$	13,653
Income (loss) from discontinued operations, before taxes	$	(446)	$	1,304	$	(48)	$	2,085
Income tax provision (benefit)	(198)		513		(20)		838
Income (loss) from discontinued operations, net of tax, before loss on sale	$	(248)	$	791	$	(28)	$	1,247
Gain on sale of discontinued operations	$	5,474	$	—	$	5,474	$	—
Income tax provision	6,925		—		6,925		—
Loss on sale of discontinued operations, net of tax	(1,451)		—		(1,451)		—
Income (loss) from discontinued operations, net of tax	$	(1,699)	$	791	$	(1,479)	$	1,247

Revenues from Anchorage for the quarters ended September 29, 2013, December 29, 2013 and for the full year ended December 29, 2013 were $6.5 million, $7.2 million and $27.4 million, respectively.