Business Segments

3 Months Ended

Mar. 25, 2012

Business Segments [Abstract]

Business Segments

6. 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. Additionally, more than 200 specialty publications that include weekly newspapers and niche publications (and the associated websites) are included in revenues for the geographic markets. 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 acquisition-related amortization, impairment charges, and other corporate-related charges such as debt modification costs. 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. 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)	Revenues			Depreciation and Amortization			Operating Profit (Loss)
Three Months Ended March 25, 2012
Virginia/Tennessee	$	41,176		$	(2,781	)	$	4,359
Florida		31,963			(1,426	)		747
Mid-South		42,968			(3,130	)		9,262
North Carolina		17,916			(1,341	)		313
Ohio/Rhode Island		13,329			(655	)		3,181
Advertising Services & Other		2,504			(172	)		(1,180	)
Eliminations		(342	)		-			-
								16,682
Unallocated amounts:
Acquisition intangibles amortization		-			(1,426	)		(1,426	)
Corporate expense		-			(1,563	)		(8,171	)
	$	149,514		$	(12,494	)
Corporate interest expense								(15,136	)
Debt modification costs								(10,408	)
Goodwill and other asset impairment								(10,082	)
Other								(3,687	)
Loss before income taxes							$	(32,228	)
Three Months Ended March 27, 2011
Virginia/Tennessee	$	42,580		$	(3,177	)	$	3,837
Florida		33,945			(1,600	)		(3,135	)
Mid-South		38,292			(2,957	)		5,412
North Carolina		17,629			(1,410	)		127
Ohio/Rhode Island		12,357			(773	)		2,344
Advertising Services & Other		5,149			(240	)		(13	)
Eliminations		(1,009	)		-			-
								8,572
Unallocated amounts:
Acquisition intangibles amortization		-			(1,514	)		(1,514	)
Corporate expense		-			(1,348	)		(8,272	)
	$	148,943		$	(13,019	)
Corporate interest expense								(16,553	)
Other								(2,779	)
Loss before income taxes							$	(20,546	)