Retirement and Postretirement Plans

9 Months Ended

Sep. 30, 2016

Compensation and Retirement Disclosure [Abstract]

The Company has a funded, qualified non-contributory defined benefit retirement plan which covers substantially all Legacy Media General employees hired before 2007 along with defined benefit retirement plans for KRON-TV and LIN that were merged into the Media General qualified plan on December 31, 2014 and December 31, 2015, respectively. Additionally the Company also has non-contributory unfunded supplemental executive retirement and ERISA excess plans which supplement the coverage available to certain executives. All of these retirement plans are frozen. The Company has a retiree medical savings account plan which reimburses eligible retired employees for certain medical expenses and an unfunded plan that provides certain health and life insurance benefits to retired employees who were hired prior to 1992.

The following tables provide the components of net periodic benefit (income) cost for the Company’s benefit plans for the three and nine month periods ended September 30, 2016 and 2015:



	Three Months Ended
	Pension Benefits						Other Benefits
(In thousands)	September 30, 2016			September 30, 2015			September 30, 2016			September 30, 2015
Service cost	$	—		$	—		$	—		$	25
Interest cost	4,650			5,729			125			250
Expected return on plan assets	(6,950		)	(7,727		)	—			—
Amortization of net loss	—			200			(25		)	—
Net periodic benefit (income) cost	$	(2,300	)	$	(1,798	)	$	100		$	275



	Nine Months Ended
	Pension Benefits						Other Benefits
(In thousands)	September 30, 2016			September 30, 2015			September 30, 2016			September 30, 2015
Service cost	$	—		$	—		$	—		$	75
Interest cost	13,950			17,185			525			750
Expected return on plan assets	(20,850		)	(23,180		)	—			—
Amortization of net loss	—			600			(75		)	—
Net periodic benefit (income) cost	$	(6,900	)	$	(5,395	)	$	450		$	825