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Discontinued Operations
 6 Months Ended
Jun. 30, 2013
Discontinued Operations and Disposal Groups [Abstract]  
Discontinued Operations
DISCONTINUED OPERATIONS

About Group

On September 24, 2012, we completed the sale of the About Group, consisting of About.com, ConsumerSearch.com, CalorieCount.com and related businesses, to IAC/InterActiveCorp for $300.0 million in cash, plus a net working capital adjustment of approximately $17 million. In 2012, the sale resulted in a pre-tax gain of $96.7 million ($61.9 million after-tax).

The results of operations of the About Group, which had previously been presented as a reportable segment, have been classified as discontinued operations for all periods presented in 2012.

Regional Media Group

On January 6, 2012, we completed the sale of the Regional Media Group, consisting of 16 regional newspapers, other print publications and related businesses, to Halifax Media Holdings LLC for approximately $140 million in cash. The net after-tax proceeds from the sale, including a tax benefit, were approximately $150 million. In 2012, the sale resulted in an after-tax gain of $23.6 million (including post-closing adjustments recorded in the second and fourth quarters of 2012 totaling $6.6 million).

The results of operations for the Regional Media Group, which had previously been included in the News Media Group reportable segment, have been classified as discontinued operations for all periods presented in 2012.
    
The 2012 results of operations for the About Group and the Regional Media Group presented as discontinued operations are summarized below.
 
 
For the Quarter Ended
 
For the Six Months Ended
 
 
June 24, 2012
 
June 24, 2012
(In thousands)
 
About Group
 
Regional Media Group
 
Total
 
About Group
 
Regional Media Group
 
Total
Revenues
 
$
25,410

 
$
—

 
$
25,410

 
$
49,354

 
$
6,115

 
$
55,469

Total operating costs
 
17,505

 
—

 
17,505

 
34,453

 
8,017

 
42,470

Impairment of goodwill
 
194,732

 
—

 
194,732

 
194,732

 
—

 
194,732

Pre-tax loss
 
(186,827
)
 
—

 
(186,827
)
 
(179,831
)
 
(1,902
)
 
(181,733
)
Income tax benefit
 
(65,643
)
 
—

 
(65,643
)
 
(62,968
)
 
(736
)
 
(63,704
)
Loss from discontinued operations, net of income taxes
 
(121,184
)
 
—

 
(121,184
)
 
(116,863
)
 
(1,166
)
 
(118,029
)
(Loss)/gain on sale, net of income taxes
 
 
 
 
 
 
 
 
 
 
 
 
Loss on sale
 
—

 
(7,026
)
 
(7,026
)
 
—

 
(4,717
)
 
(4,717
)
Income tax benefit(1)
 
—

 
2,521

 
2,521

 
—

 
30,448

 
30,448

(Loss)/gain on sale, net of income taxes
 
—

 
(4,505
)
 
(4,505
)
 
—

 
25,731

 
25,731

(Loss)/income from discontinued operations, net of income taxes
 
$
(121,184
)
 
$
(4,505
)
 
$
(125,689
)
 
$
(116,863
)
 
$
24,565

 
$
(92,298
)
(1)
The income tax benefit for the Regional Media Group included a tax deduction for goodwill, which was previously non-deductible, triggered upon the sale of the Regional Media Group.
Goodwill is not amortized but tested for impairment annually or in an interim period if certain circumstances indicate a possible impairment may exist. Our policy is to perform our annual goodwill impairment test in the fourth quarter of our fiscal year. However, due to certain impairment indicators at the About Group, we performed an interim impairment test as of June 24, 2012. The interim impairment test resulted in a $194.7 million non-cash charge in the second quarter of 2012 for the impairment of goodwill at the About Group. The impairment charge reduced the carrying value of goodwill to its fair value.