INVESTMENTS IN UNCONSOLIDATED COMPANIES

9 Months Ended

Sep. 25, 2016

INVESTMENTS IN UNCONSOLIDATED COMPANIES

3. INVESTMENTS IN UNCONSOLIDATED COMPANIES

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


(in thousands)	% Ownership	September 25,		December 27,
Company	Interest	2016		2015
CareerBuilder, LLC	15.0	$	240,248	$	230,170
Other	Various		4,660		3,368
		$	244,908	$	233,538

In September 2016, TEGNA Inc., a majority holder of CareerBuilder, announced that it and other owners, including us, would evaluate strategic alternatives for CareerBuilder. No specific timeline was announced for this process.

During the nine months ended September 25, 2016, our proportionate share of net income from certain investments listed in the table above was greater than 20% of our condensed consolidated net loss before taxes. Summarized condensed financial information, as provided to us by these certain investees, is as follows:


	Nine months ended
	September 25,		September 27,
(in thousands)	2016		2015
Net revenues	$	523,823	$	526,729
Gross profit		494,632		490,140
Operating income		78,077		100,495
Net income		77,599		97,887

On February 23, 2016, we, along with Gannett Co. Inc. and Tribune Publishing Co. (now “tronc, Inc.”) (the “Selling Partners”) sold all of the assets in HomeFinder LLC (“HomeFinder”) to Placester Inc. (“Placester”) in exchange for a small stock ownership in Placester and a 3-year affiliate agreement with Placester to continue to allow the Selling Partners to sell Placester and HomeFinder’s products and services. As a result of this transaction, during the quarter ended March 27, 2016, we wrote off our HomeFinder investment of $0.9 million, which is recorded in equity income in unconsolidated companies, net, on our condensed consolidated statements of operations.