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DIVESTITURE
 12 Months Ended
Dec. 27, 2015
DIVESTITURE  
DIVESTITURE

2.  DIVESTITURE

 

On May 5, 2014, we completed the sale of the outstanding capital stock of Anchorage Daily News, Inc. (“Anchorage”) to an assignee of Alaska Dispatch Publishing, LLC for $34.0 million in cash. In accordance with the FASB Accounting Standards Codification (“ASC”) 205-20, “Discontinued Operations,” the financial results of Anchorage have been reported as a discontinued operation in our consolidated financial statements for the periods presented.

 

The following table summarizes the financial information for the Anchorage’s operations for 2014 and 2013:

 

 

 

 

 

 

 

 

 

Year Ended

 

 

December 28,

 

December 29,

 

(in thousands)

2014

 

2013

 

Revenues

$
9,071

 

$
27,389

 

Loss from discontinued operations, before taxes

$
(203)

 

$
3,956

 

Income tax benefit

 
251

 

 
1,597

 

Loss from discontinued operations, net of tax, before loss on sale

$
(454)

 

$
2,359

 

 

 

 

 

 

 

 

Gain (loss) on sale of discontinued operations

$
5,391

 

$

 —

 

Income tax provision

 
6,925

 

 

 —

 

Loss on sale of discontinued operations, net of tax

 
(1,534)

 

 

 —

 

Loss from discontinued operations, net of tax

$
(1,988)

 

$
2,359