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Discontinued Operations
 6 Months Ended
Jun. 29, 2014
Discontinued Operations and Disposal Groups [Abstract]  
Discontinued Operations
DISCONTINUED OPERATIONS

New England Media Group

In the fourth quarter of 2013, we completed the sale of substantially all of the assets and operating liabilities of the New England Media Group - consisting of The Boston Globe, BostonGlobe.com, Boston.com, Worcester Telegram & Gazette (the “T&G”), Telegram.com and related properties - and our 49% equity interest in Metro Boston, for approximately $70 million in cash, subject to customary adjustments. The net after-tax proceeds from the sale, including a tax benefit, were approximately $74 million. In 2013, we recognized a pre-tax gain of $47.6 million on the sale ($28.1 million after tax), which was almost entirely comprised of a curtailment gain on postretirement benefit obligations. This curtailment gain is primarily related to an acceleration of prior service credits from plan amendments announced in prior years, and is due to a cessation of service for employees at the New England Media Group. In the first quarter of 2014, we recorded a working capital adjustment of $1.6 million. The results of operations of the New England Media Group have been classified as discontinued operations for all periods presented.

The results of operations for the New England Media Group presented as discontinued operations are summarized below.
 
 
For the Quarters Ended
 
For the Six Months Ended
(In thousands)
 
June 29,
2014
 
June 30,
2013
 
June 29,
2014
 
June 30,
2013
Revenues
 
$
—

 
$
94,406

 
$
—

 
$
179,664

Total operating costs
 
—

 
87,199

 
—

 
176,924

Loss from joint ventures
 
—

 
(54
)
 
—

 
(124
)
Interest expense, net
 
—

 
2

 
—

 
5

Pre-tax income
 
—

 
7,151

 
—

 
2,611

Income tax expense
 
—

 
4,376

 
—

 
2,621

Income/(loss) from discontinued operations, net of income taxes
 
—

 
2,775

 
—

 
(10
)
(Loss)/gain on sale, net of income taxes:
 
 
 
 
 
 
 
 
Loss on sale
 
—

 
—

 
(1,559
)
 
—

Income tax benefit
 
—

 
—

 
(565
)
 
—

Loss on sale, net of income taxes
 
—

 
—

 
(994
)
 
—

Income/(loss) from discontinued operations, net of income taxes
 
$
—

 
$
2,775

 
$
(994
)
 
$
(10
)