Business Segments

12 Months Ended

Dec. 25, 2011

Business Segments [Abstract]

Business Segments

Note 6: Business Segments

The Company is a diversified communications company located primarily in the southeastern United States. The Company is comprised of five geographic market segments (Virginia/Tennessee, Florida, Mid-South, North Carolina and Ohio/Rhode Island) along with a sixth segment that includes interactive advertising services and certain other operations.

Revenues for the geographic markets include revenues from 18 network-affiliated television stations, three metropolitan newspapers, and 20 community newspapers, all of which have associated websites. Revenues for the geographic markets additionally include revenues from more than 200 specialty publications including weekly newspapers and niche publications and the websites associated with many of these publications. Revenues for the sixth segment, Advertising Services & Other, are generated by three interactive advertising services companies and certain other operations including a broadcast equipment and studio design company.

Management measures segment performance based on profit or loss from operations before interest, income taxes, and acquisition-related amortization. Impairment charges and amortization of acquired intangibles are not allocated to individual segments although the intangible assets themselves are included in identifiable assets for each segment. Intercompany sales are primarily accounted for as if the sales were at current market prices and are eliminated in the consolidated financial statements. Certain promotions in the

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Company's newspapers and television stations on behalf of its online shopping portal are recognized based on incremental cost. The Company's reportable segments are managed separately, largely based on geographic market considerations and a desire to provide services to customers regardless of media platform. In certain instances, operations have been aggregated based on similar economic characteristics.

The following table sets forth the Company's current and prior-year financial performance by segment:

(In thousands)	Assets		Capital Expenditures		Revenues			Depreciation and Amortization			Operating Profit (Loss)
2011
Virginia/Tennessee	$	263,732	$	1,838	$	178,982		$	(12,564	)	$	28,582
Florida		124,939		672		133,121			(6,459	)		(6,791	)
Mid-South		369,686		11,514		162,396			(12,026	)		31,234
North Carolina		98,666		2,368		75,239			(5,530	)		5,722
Ohio/Rhode Island		131,553		832		55,012			(2,943	)		16,824
Advertising Services & Other		15,560		26		16,043			(858	)		(3,758	)
Eliminations		—		—		(4,586	)		—			—
												71,813
Unallocated amounts:
Acquisition intangibles amortization		—		—		—			(5,930	)		(5,930	)
Corporate		81,905		1,803		—			(5,265	)		(30,633	)
	$	1,086,041	$	19,053	$	616,207		$	(51,575	)
Corporate interest expense												(64,358	)
Goodwill and other asset impairment												(32,645	)
Other												(1,867	)
Consolidated loss before income taxes											$	(63,620	)
2010
Virginia/Tennessee	$	303,685	$	3,389	$	192,405		$	(13,052	)	$	36,430
Florida		138,025		3,958		157,295			(6,883	)		11,155
Mid-South		377,956		10,322		165,648			(11,526	)		36,145
North Carolina		102,265		2,339		77,682			(6,009	)		5,485
Ohio/Rhode Island		134,008		884		62,339			(3,179	)		20,801
Advertising Services & Other		25,243		334		25,057			(797	)		3,124
Eliminations		—		—		(2,311	)		—			(8	)
												113,132
Unallocated amounts:
Acquisition intangibles amortization		—		—		—			(6,175	)		(6,175	)
Corporate		98,791		5,256		—			(5,468	)		(31,518	)
	$	1,179,973	$	26,482	$	678,115		$	(53,089	)
Corporate interest expense												(71,020	)
Gain on insurance recovery												956
Other												(2,586	)
Consolidated income before income taxes											$	2,789

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(In thousands)	Assets		Capital Expenditures		Revenues			Depreciation and Amortization			Operating Profit (Loss)
2009
Virginia/Tennessee	$	324,528	$	4,813	$	199,290		$	(13,807	)	$	39,644
Florida		152,264		930		158,232			(8,111	)		4,262
Mid-South		387,361		4,677		145,621			(13,426	)		21,201
North Carolina		110,031		2,520		78,762			(6,801	)		4,719
Ohio/Rhode Island		139,479		1,527		50,613			(3,371	)		10,514
Advertising Services & Other		41,618		113		26,683			(884	)		4,579
Eliminations		—		—		(1,589	)		2			(46	)
												84,873
Unallocated amounts:
Acquisition intangibles amortization		—		—		—			(7,064	)		(7,064	)
Corporate		80,767		3,873		—			(5,716	)		(27,067	)
	$	1,236,048	$	18,453	$	657,612		$	(59,178	)
Interest expense												(41,978	)
Impairment of and income (loss) on investments												701
Goodwill and other asset impairment												(84,220	)
Gain on insurance recovery												1,915
Other												(591	)
Consolidated loss from continuing operations before income taxes											$	(73,431	)