Document_and_Entity_Informatio
Document and Entity Information | 12 Months Ended |
Dec. 29, 2013 | |
Entity Information [Line Items] | ' |
Entity Registrant Name | 'JOURNAL COMMUNICATIONS INC |
Entity Central Index Key | '0001232241 |
Current Fiscal Year End Date | '--12-29 |
Entity Well-known Seasoned Issuer | 'No |
Entity Voluntary Filers | 'No |
Entity Current Reporting Status | 'Yes |
Entity Filer Category | 'Accelerated Filer |
Document Fiscal Year Focus | '2013 |
Document Fiscal Period Focus | 'FY |
Document Type | '8-K |
Amendment Flag | 'true |
Amendment Description | 'Beginning in the first quarter of 2014, the Company made an organization change to its leadership team in the Broadcasting segment reflecting focus on its two primary businesses: television and radio. The Company is filing this Current Report on Form 8-K to reclassify historical segment information for the television and radio segments to correspond with its current segment structure. |
Document Period End Date | 29-Dec-13 |
CONSOLIDATED_BALANCE_SHEETS
CONSOLIDATED BALANCE SHEETS (USD $) | Dec. 29, 2013 | Dec. 30, 2012 |
In Thousands, unless otherwise specified | ||
Current assets: | ' | ' |
Cash and cash equivalents | $1,912 | $2,429 |
Receivables, net | 66,670 | 64,161 |
Inventories, net | 2,191 | 2,944 |
Prepaid expenses and other current assets | 3,305 | 3,953 |
Syndicated programs | 2,816 | 2,250 |
Deferred income taxes | 2,508 | 3,032 |
Current assets of discontinued operations | 7,048 | 7,550 |
TOTAL CURRENT ASSETS | 86,450 | 86,319 |
Property and equipment: | ' | ' |
Land and land improvements | 37,026 | 37,574 |
Buildings and building improvements | 131,209 | 132,400 |
Equipment | 236,588 | 237,833 |
Construction in progress | 2,257 | 3,476 |
Gross property and equipment | 407,080 | 411,283 |
Less accumulated depreciation | 246,531 | 242,145 |
Net property and equipment | 160,549 | 169,138 |
Syndicated programs | 5,162 | 4,777 |
Goodwill | 124,702 | 125,818 |
Broadcast licenses | 135,166 | 129,566 |
Other intangible assets, net | 57,763 | 60,618 |
Deferred income taxes | 20,125 | 41,573 |
Other assets | 6,101 | 7,994 |
TOTAL ASSETS | 596,018 | 625,803 |
Current liabilities: | ' | ' |
Accounts payable | 22,154 | 26,743 |
Accrued compensation | 9,134 | 10,618 |
Accrued employee benefits | 4,865 | 5,155 |
Deferred revenue | 15,459 | 16,208 |
Syndicated programs | 2,247 | 2,521 |
Accrued income taxes | 3,286 | 3,977 |
Other current liabilities | 5,560 | 6,788 |
Current portion of unsecured subordinated notes payable | 2,656 | 2,656 |
Current portion of long-term notes payable to banks | 15,000 | 0 |
Current portion of long-term liabilities | 276 | 126 |
Current liabilities of discontinued operations | 885 | 737 |
TOTAL CURRENT LIABILITIES | 81,522 | 75,529 |
Accrued employee benefits | 64,541 | 92,907 |
Syndicated programs | 5,741 | 5,001 |
Long-term notes payable to banks | 179,950 | 230,095 |
Unsecured subordinated notes payable | 10,623 | 13,279 |
Other long-term liabilities | 3,554 | 3,491 |
Equity: | ' | ' |
Additional paid-in capital | 256,734 | 254,437 |
Accumulated other comprehensive loss | -39,654 | -55,739 |
Retained earnings | 32,503 | 6,302 |
TOTAL EQUITY | 250,087 | 205,501 |
TOTAL LIABILITIES AND EQUITY | 596,018 | 625,803 |
Class B [Member] | ' | ' |
Equity: | ' | ' |
Common stock value | 57 | 63 |
Class A [Member] | ' | ' |
Equity: | ' | ' |
Common stock value | $447 | $438 |
CONSOLIDATED_BALANCE_SHEETS_Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) | Dec. 29, 2013 | Dec. 30, 2012 |
Class B [Member] | ' | ' |
Equity: | ' | ' |
Common stock authorized (in shares) | 120,000,000 | 120,000,000 |
Common stock issued (in shares) | 6,134,093 | 6,905,955 |
Common stock outstanding (in shares) | 6,134,093 | 6,905,955 |
Class A [Member] | ' | ' |
Equity: | ' | ' |
Common stock authorized (in shares) | 170,000,000 | 170,000,000 |
Common stock issued (in shares) | 44,669,851 | 43,750,920 |
Common stock outstanding (in shares) | 44,669,851 | 43,750,920 |
CONSOLIDATED_STATEMENTS_OF_OPE
CONSOLIDATED STATEMENTS OF OPERATIONS (USD $) | 12 Months Ended | ||||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 29, 2013 | Dec. 30, 2012 | Dec. 25, 2011 | Dec. 29, 2013 | Dec. 30, 2012 | Dec. 25, 2011 | Dec. 29, 2013 | Dec. 30, 2012 | Dec. 25, 2011 |
Class A and B Common Stock [Member] | Class A and B Common Stock [Member] | Class A and B Common Stock [Member] | Class C Common Stock [Member] | Class C Common Stock [Member] | Class C Common Stock [Member] | ||||
Revenue: | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total revenue | $397,267 | $393,118 | $351,452 | ' | ' | ' | ' | ' | ' |
Operating costs and expenses: | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total operating costs and expenses | 219,237 | 205,249 | 198,709 | ' | ' | ' | ' | ' | ' |
Selling and administrative expenses | 126,714 | 127,522 | 112,466 | ' | ' | ' | ' | ' | ' |
Broadcast license impairment | 0 | 1,616 | 735 | ' | ' | ' | ' | ' | ' |
Total operating costs and expenses and selling and administrative expenses | 345,951 | 334,387 | 311,910 | ' | ' | ' | ' | ' | ' |
Operating earnings | 51,316 | 58,731 | 39,542 | ' | ' | ' | ' | ' | ' |
Other income and (expense): | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest income | 0 | 22 | 117 | ' | ' | ' | ' | ' | ' |
Interest expense | -7,706 | -4,483 | -3,642 | ' | ' | ' | ' | ' | ' |
Other | -188 | ' | ' | ' | ' | ' | ' | ' | ' |
Total other income and (expense) | -7,894 | -4,461 | -3,525 | ' | ' | ' | ' | ' | ' |
Earnings from continuing operations before income taxes | 43,422 | 54,270 | 36,017 | ' | ' | ' | ' | ' | ' |
Provision for income taxes | 17,172 | 21,688 | 14,304 | ' | ' | ' | ' | ' | ' |
Earnings from continuing operations | 26,250 | 32,582 | 21,713 | ' | ' | ' | ' | ' | ' |
Earnings (loss) from discontinued operations, net of applicable income tax (benefit) expense of ($13), $518 and $329, respectively | -49 | 743 | 473 | ' | ' | ' | ' | ' | ' |
Net earnings | $26,201 | $33,325 | $22,186 | $26,201 | $30,701 | $18,862 | $0 | $2,407 | $3,060 |
Basic - Class A and B common stock: | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Continuing operations (in dollars per share) | ' | ' | ' | $0.52 | $0.60 | $0.36 | ' | ' | ' |
Discontinued operations (in dollars per share) | ' | ' | ' | ' | $0.01 | $0.01 | ' | ' | ' |
Net earnings (in dollars per share) | $0.52 | $0.61 | ' | $0.52 | $0.61 | $0.37 | $0 | $0.74 | $0.94 |
Diluted - Class A and B common stock: | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Continuing operations (in dollars per share) | ' | ' | ' | $0.52 | $0.60 | $0.36 | ' | ' | ' |
Discontinued operations (in dollars per share) | ' | ' | ' | ' | $0.01 | $0.01 | ' | ' | ' |
Net earnings (in dollars per share) | $0.52 | $0.61 | $0.37 | $0.52 | $0.61 | $0.37 | ' | ' | ' |
Basic and diluted - Class C common stock: | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Continuing operations (in dollars per share) | ' | ' | ' | ' | ' | ' | $0 | $0.73 | $0.93 |
Discontinued operations (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | $0.01 | $0.01 |
Net earnings (in dollars per share) | ' | $0.74 | ' | ' | ' | ' | $0 | $0.74 | $0.94 |
CONSOLIDATED_STATEMENTS_OF_OPE1
CONSOLIDATED STATEMENTS OF OPERATIONS (Parenthetical) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 29, 2013 | Dec. 30, 2012 | Dec. 25, 2011 |
CONSOLIDATED STATEMENTS OF OPERATIONS [Abstract] | ' | ' | ' |
Income tax provision (benefit) applied from discontinued operations | ($13) | $518 | $329 |
CONSOLIDATED_STATEMENTS_OF_COM
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 29, 2013 | Dec. 30, 2012 | Dec. 25, 2011 |
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME [Abstract] | ' | ' | ' |
Net earnings | $26,201 | $33,325 | $22,186 |
Other comprehensive income, net of tax: | ' | ' | ' |
Change in pension and postretirement, net of tax benefit (expense) of $10,176, $1,792 and $13,421, respectively | 16,085 | -2,757 | -20,687 |
Comprehensive income | $42,286 | $30,568 | $1,499 |
CONSOLIDATED_STATEMENTS_OF_COM1
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 29, 2013 | Dec. 30, 2012 | Dec. 25, 2011 |
Other comprehensive income, net of tax: | ' | ' | ' |
Change in pension and postretirement, tax | $10,176 | $1,792 | $13,421 |
CONSOLIDATED_STATEMENTS_OF_EQU
CONSOLIDATED STATEMENTS OF EQUITY (USD $) | Preferred Stock [Member] | Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | Additional Paid-in-Capital [Member] | Accumulated Other Comprehensive Loss [Member] | Retained Earnings (Deficit) [Member] | Noncontrolling Interests [Member] | Treasury Stock, at cost [Member] | Total | Class C [Member] |
In Thousands, unless otherwise specified | Class C [Member] | Class B [Member] | Class A [Member] | ||||||||
Balance at Dec. 26, 2010 | $0 | $33 | $165 | $432 | $260,376 | ($32,295) | $87,767 | $1,164 | ($108,715) | $208,927 | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net earnings | ' | ' | ' | ' | ' | ' | 22,186 | ' | ' | 22,186 | 3,060 |
Comprehensive income | ' | ' | ' | ' | ' | -20,687 | ' | ' | ' | -20,687 | ' |
Class C minimum dividends | ' | ' | ' | ' | ' | ' | -1,854 | ' | ' | -1,854 | -1,854 |
Issuance of shares: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Conversion of class B to class A | ' | ' | -17 | 17 | ' | ' | ' | ' | ' | 0 | ' |
Stock grants | ' | ' | 5 | ' | 498 | ' | ' | ' | ' | 503 | ' |
Employee stock purchase plan | ' | ' | 1 | ' | 327 | ' | ' | ' | ' | 328 | ' |
Shares purchased and retired | ' | ' | ' | -11 | -4,129 | ' | ' | ' | ' | -4,140 | ' |
Treasury shares cancelled | ' | ' | -87 | ' | -446 | ' | -108,182 | ' | 108,715 | 0 | ' |
Shares withheld from employees for tax withholding | ' | ' | -1 | ' | -590 | ' | ' | ' | ' | -591 | ' |
Stock-based compensation | ' | ' | ' | ' | 1,114 | ' | ' | ' | ' | 1,114 | ' |
Income tax benefits from vesting of restricted stock | ' | ' | ' | ' | 402 | ' | ' | ' | ' | 402 | ' |
Balance at Dec. 25, 2011 | 0 | 33 | 66 | 438 | 257,552 | -52,982 | -83 | 1,164 | 0 | 206,188 | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net earnings | ' | ' | ' | ' | ' | ' | 33,325 | ' | ' | 33,325 | 2,407 |
Comprehensive income | ' | ' | ' | ' | ' | -2,757 | ' | ' | ' | -2,757 | ' |
Class C minimum dividends | ' | ' | ' | ' | ' | ' | -1,146 | ' | ' | -1,146 | -1,146 |
Issuance of shares: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Conversion of class B to class A | ' | ' | -7 | 7 | ' | ' | ' | ' | ' | 0 | ' |
Stock grants | ' | ' | 5 | ' | 384 | ' | ' | ' | ' | 389 | ' |
Employee stock purchase plan | ' | ' | ' | ' | 271 | ' | ' | ' | ' | 271 | ' |
Class C shares repurchase | ' | -33 | ' | ' | -117 | ' | -25,794 | ' | ' | -25,944 | ' |
Shares purchased and retired | ' | ' | ' | -7 | -3,558 | ' | ' | ' | ' | -3,565 | ' |
Shares withheld from employees for tax withholding | ' | ' | -1 | ' | -654 | ' | ' | ' | ' | -655 | ' |
Stock-based compensation | ' | ' | ' | ' | 1,639 | ' | ' | ' | ' | 1,639 | ' |
Income tax benefits from vesting of restricted stock | ' | ' | ' | ' | 293 | ' | ' | ' | ' | 293 | ' |
Purchase of noncontrolling interest | ' | ' | ' | ' | -1,373 | ' | ' | -1,164 | ' | -2,537 | ' |
Balance at Dec. 30, 2012 | 0 | 0 | 63 | 438 | 254,437 | -55,739 | 6,302 | 0 | 0 | 205,501 | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net earnings | ' | ' | ' | ' | ' | ' | 26,201 | ' | ' | 26,201 | 0 |
Comprehensive income | ' | ' | ' | ' | ' | 16,085 | ' | ' | ' | 16,085 | ' |
Class C minimum dividends | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 |
Issuance of shares: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Conversion of class B to class A | ' | ' | -9 | 9 | ' | ' | ' | ' | ' | 0 | ' |
Stock grants | ' | ' | 4 | ' | 375 | ' | ' | ' | ' | 379 | ' |
Employee stock purchase plan | ' | ' | ' | ' | 279 | ' | ' | ' | ' | 279 | ' |
Shares withheld from employees for tax withholding | ' | ' | ' | ' | -683 | ' | ' | ' | ' | -684 | ' |
Stock-based compensation | ' | ' | ' | ' | 1,681 | ' | ' | ' | ' | 1,681 | ' |
Income tax benefits from vesting of restricted stock | ' | ' | ' | ' | 112 | ' | ' | ' | ' | 112 | ' |
Other | ' | ' | ' | ' | 533 | ' | ' | ' | ' | 533 | ' |
Balance at Dec. 29, 2013 | $0 | $0 | $57 | $447 | $256,734 | ($39,654) | $32,503 | $0 | $0 | $250,087 | ' |
CONSOLIDATED_STATEMENTS_OF_EQU1
CONSOLIDATED STATEMENTS OF EQUITY (Parenthetical) (Class C [Member], USD $) | 12 Months Ended | |
Dec. 30, 2012 | Dec. 25, 2011 | |
Class C [Member] | ' | ' |
Comprehensive income (loss): | ' | ' |
Class C minimum dividends (in dollars per share) | $0.35 | $0.57 |
CONSOLIDATED_STATEMENTS_OF_CAS
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 29, 2013 | Dec. 30, 2012 | Dec. 25, 2011 |
Cash flow from operating activities: | ' | ' | ' |
Net earnings | $26,201 | $33,325 | $22,186 |
Less earnings from discontinued operations | -49 | 743 | 473 |
Earnings from continuing operations | 26,250 | 32,582 | 21,713 |
Adjustments for non-cash items: | ' | ' | ' |
Depreciation | 20,058 | 20,590 | 21,261 |
Amortization | 2,855 | 1,448 | 1,381 |
Provision for doubtful accounts | 314 | 503 | 779 |
Deferred income taxes | 12,441 | 16,104 | 11,066 |
Non-cash stock-based compensation | 2,089 | 2,028 | 1,618 |
Net (gain) loss from disposal of assets | -402 | 493 | -589 |
Impairment of broadcast licenses | 0 | 1,616 | 735 |
Impairment of long-lived assets | 238 | 493 | 0 |
Net changes in operating assets and liabilities, excluding effect of sales and acquisitions: | ' | ' | ' |
Receivables | -2,823 | -2,090 | -2,012 |
Inventories | 753 | -1,178 | -731 |
Accounts payable | -4,589 | 5,936 | -2,279 |
Accrued employee benefits | -2,105 | -1,818 | 1,179 |
Other assets and liabilities | -1,663 | -1,451 | -10,361 |
NET CASH PROVIDED BY OPERATING ACTIVITIES | 53,416 | 75,256 | 43,760 |
Cash flow from investing activities: | ' | ' | ' |
Capital expenditures for property and equipment | -12,440 | -12,305 | -10,590 |
Proceeds from sales of assets | 720 | 1,244 | 204 |
Proceeds from sale of businesses | 0 | 2,892 | 1,574 |
Insurance recoveries | 645 | 0 | 0 |
Acquisition of businesses | -5,955 | -231,728 | 0 |
NET CASH (USED FOR) PROVIDED BY INVESTING ACTIVITIES | -17,030 | -239,897 | -8,812 |
Cash flow from financing activities: | ' | ' | ' |
Payments of financing costs | 0 | -4,583 | 0 |
Proceeds from long-term notes payable to banks | 194,805 | 349,955 | 94,409 |
Payments on notes payable to banks | -229,950 | -161,165 | -127,674 |
Payments on unsecured subordinated notes payable | -2,656 | -9,664 | 0 |
Principal payments under capital lease obligations | -74 | -258 | -343 |
Proceeds from issuance of common stock, net | 259 | 245 | 295 |
Income tax benefits from vesting of restricted stock | 112 | 330 | 464 |
Redemption of common stock, net | 0 | -3,910 | -4,010 |
Purchase of noncontrolling interest | 0 | -2,038 | 0 |
Payment of cash equivalent of accrued dividends | 0 | -6,246 | 0 |
NET CASH PROVIDED BY (USED FOR) FINANCING ACTIVITIES | -37,504 | 162,666 | -36,859 |
Cash flow from discontinued operations: | ' | ' | ' |
Net operating activities | 726 | 2,418 | 1,514 |
Net investing activities | -125 | -431 | 759 |
NET CASH PROVIDED BY DISCONTINUED OPERATIONS | 601 | 1,987 | 2,273 |
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | -517 | 12 | 362 |
Cash and cash equivalents: | ' | ' | ' |
Beginning of year | 2,429 | 2,417 | 2,055 |
End of year | 1,912 | 2,429 | 2,417 |
SUPPLEMENTAL CASH FLOW INFORMATION | ' | ' | ' |
Cash paid for income taxes | 6,087 | 4,317 | 7,710 |
Cash paid for interest | $5,552 | $1,521 | $1,709 |
SIGNIFICANT_ACCOUNTING_POLICIE
SIGNIFICANT ACCOUNTING POLICIES | 12 Months Ended | ||||||||||||
Dec. 29, 2013 | |||||||||||||
SIGNIFICANT ACCOUNTING POLICIES [Abstract] | ' | ||||||||||||
SIGNIFICANT ACCOUNTING POLICIES | ' | ||||||||||||
1 | SIGNIFICANT ACCOUNTING POLICIES | ||||||||||||
Basis of presentation and consolidation—We report on a 52-53 week fiscal year ending on the last Sunday of December in each year. In addition, we have four quarterly reporting periods, each consisting of thirteen weeks and ending on a Sunday, provided that once every six years the fourth quarterly reporting period will be fourteen weeks. The fourth quarterly reporting period in our 2012 fiscal year consisted of fourteen weeks. | |||||||||||||
The consolidated financial statements include the accounts of Journal Communications, Inc. and its wholly owned subsidiaries. In 2012, we purchased the remaining noncontrolling interest associated with a variable interest entity (VIE) for which we were the primary beneficiary in accordance with U.S. generally accepted accounting principles and pursuant to the rules and regulations of the Securities and Exchange Commission. All significant intercompany balances and transactions have been eliminated. | |||||||||||||
Palm Springs television results of operations and the gain on the sale of NorthStar Print Group Inc.'s (NorthStar) real estate holdings in 2011 have been reflected as discontinued operations in our consolidated statements of operations. | |||||||||||||
Use of estimates—The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. | |||||||||||||
Revenue recognition—Our principal sources of revenue are the sale of airtime on television and radio stations, the sale of advertising in newspapers and the sale of newspapers to individual subscribers and distributors. In addition, we sell advertising on our newspaper, television and radio websites and derive revenue from other online activities. Advertising revenue is recognized in the publishing, television and radio businesses when advertisements are published, aired or displayed, or when related advertising services are rendered. Newspaper advertising contracts, which generally have a term of one year or less, may provide rebates or discounts based upon the volume of advertising purchased during the terms of the contracts. Estimated rebates and discounts are recorded as a reduction of revenue in the period the advertisement is displayed. This requires us to make certain estimates regarding future advertising volumes. Estimates are based on various factors including historical experience and advertising sales trends. These estimates are revised as necessary based on actual volumes realized. Circulation revenue is recognized on a pro-rata basis over the term of the newspaper subscription or when the newspaper is delivered to the customer. Amounts we receive from customers in advance of revenue recognition are deferred as liabilities. Deferred revenue to be earned more than one year from the balance sheet date is included in other long-term liabilities in the consolidated balance sheets. | |||||||||||||
Printing revenue from external customers as well as third-party distribution revenue is recognized when the product is delivered in accordance with the customers' instructions. | |||||||||||||
We also derive revenues from retransmission of our television programs by MVPDs. Retransmission revenues from MVPDs are recognized based on average monthly subscriber counts and contractual rates over the terms of the agreements. | |||||||||||||
Multiple-deliverable revenue arrangements— We sell airtime on television and radio stations and online advertising bundled arrangements, where multiple products are involved. Significant deliverables within these arrangements include advertising on television and radio stations and advertising placed on various company websites, each of which are considered separate units of accounting. Our daily newspaper sells print and online advertising in bundled arrangements, where multiple products are involved. Significant deliverables within these arrangements include advertising in the printed daily newspaper and advertising placed on various company websites, each of which are considered separate units of accounting. There were no significant changes in units of accounting, the allocation process or the pattern and timing of revenue recognition upon adoption of the amended guidance related to revenue recognition for arrangements with multiple deliverables. | |||||||||||||
Shipping and handling costs—Shipping and handling costs, including postage, billed to customers are included in revenue and the related costs are included in operating costs and expenses. | |||||||||||||
Advertising expense—We expense our advertising costs as incurred. Advertising expense totaled $6,645, $7,438 and $6,915 in 2013, 2012 and 2011, respectively. | |||||||||||||
Interest expense—All interest incurred during the years ended December 29, 2013, December 30, 2012 and December 25, 2011 was expensed. | |||||||||||||
Income taxes—Deferred taxes are provided for the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts for income tax purposes. Valuation allowances are established when management determines that it is more likely than not that some portion or all of a deferred tax asset will not be realized. | |||||||||||||
We recognize an uncertain tax position when it is more likely than not to be sustained upon examination by taxing authorities and we measure the tax benefit as the largest amount of benefit, determined on a cumulative probability basis, which is more likely than not to be realized upon ultimate settlement. | |||||||||||||
Fair values—The carrying amount of cash and cash equivalents, receivables, accounts payable, accrued severance and barter programming assets and liabilities approximates fair value as of December 29, 2013 and December 30, 2012. | |||||||||||||
Cash equivalents—Cash equivalents are highly liquid investments with maturities of three months or less when purchased. Cash equivalents are stated at cost, which approximates market value. | |||||||||||||
Receivables, net— Our non-interest bearing accounts receivable arise primarily from the sale of advertising, commercial printing, commercial distribution and the retransmission of our television programs by MVPDs. We record accounts receivable at original invoice amounts. The accounts receivable balance is reduced by an estimated allowance for doubtful accounts. We evaluate the collectability of our accounts receivable based on a combination of factors. We specifically review historical write-off activity by market, large customer concentrations, customer creditworthiness and changes in our customer payment patterns and terms when evaluating the adequacy of the allowance for doubtful accounts. In circumstances where we are aware of a specific customer's inability to meet its financial obligations, we record a specific reserve to reduce the amounts recorded to what we believe will be collected. For all other customers, we recognize allowances for bad debts based on historical experience of bad debts as a percent of accounts receivable for each business unit. We write off uncollectible accounts against the allowance for doubtful accounts after collection efforts have been exhausted. The allowance for doubtful accounts at December 29, 2013 and December 30, 2012 was $1,688 and $2,377, respectively. | |||||||||||||
Concentration of credit risk—Generally, credit is extended based upon an evaluation of the customer's financial position, and advance payment is not required. Credit losses are provided for in the financial statements and have been within management's expectations. Given the current economic environment, credit losses may increase in the future. | |||||||||||||
Inventories—Inventories are stated at the lower of cost (first in, first out method) or market. A summary of inventories follows: | |||||||||||||
2013 | 2012 | ||||||||||||
December 29 and December 30 | |||||||||||||
Paper and supplies | $ | 2,224 | $ | 2,950 | |||||||||
Work in process | 59 | 84 | |||||||||||
Less obsolescence reserve | (92 | ) | (90 | ) | |||||||||
Inventories, net | $ | 2,191 | $ | 2,944 | |||||||||
Television programming—We have agreements with distributors for the rights to television programming over contract periods, which generally run for one to five years. Each contract is recorded as an asset and a liability at an amount equal to its gross contractual commitment when the license period begins and the program is available for its first showing. The portion of program contracts that become payable within one year is reflected as a current liability in the accompanying consolidated balance sheets. The rights to program materials are carried at the lower of unamortized cost or estimated net realizable value or in the case of programming obtained by an acquisition, at estimated fair value. The cost for the rights of first-run and sports programming are recorded as the episodes and games are broadcast. We do not record an asset and liability for such rights when the license period begins because the programming is not available for broadcast. Certain of our agreements require us to provide barter advertising time to our distributors. Barter advertising revenue and expense was $7,210, $5,393 and $4,672 in 2013, 2012 and 2011, respectively. | |||||||||||||
Property and equipment—Property and equipment are recorded at cost. Depreciation of property and equipment is provided, using the straight-line method, over the estimated useful lives, which are as follows: | |||||||||||||
Years | |||||||||||||
Building and land improvements | 10 | ||||||||||||
Buildings | 30 | ||||||||||||
Newspaper printing presses | 25 | ||||||||||||
Broadcasting equipment | 20-May | ||||||||||||
Other printing presses | 10 | ||||||||||||
Other | 10-Mar | ||||||||||||
Depreciation expense totaled $20,058, $20,590 and $21,261 in 2013, 2012 and 2011, respectively. As of December 29, 2013, we have $160.5 million of net property and equipment secured by our credit facility. | |||||||||||||
Capital leases—We charge amortization expense of assets recorded under capital leases to depreciation expense in our consolidated statements of operations and accumulated depreciation in our consolidated balance sheets. At December 29, 2013 we recorded $474 for capital leases in equipment, $162 in accumulated depreciation, $79 in current portion of long-term liabilities and $244 in other long-term liabilities in our consolidated balance sheet. At December 30, 2012 we recorded $1,834 for capital leases in equipment, $1,683 in accumulated depreciation, $54 in current portion of long-term liabilities and $113 in other long-term liabilities in our consolidated balance sheet. | |||||||||||||
Intangible assets—Indefinite-lived intangible assets, which consist of television and radio broadcast licenses and goodwill, are reviewed for impairment at least annually or more frequently if impairment indicators are present. We continue to amortize definite-lived intangible assets on a straight-line basis over periods of five to 25 years. The costs incurred to renew or extend the term of our television and radio broadcast licenses and certain customer relationships are expensed as incurred. See Note 9, "Goodwill, Broadcast Licenses and Other Intangible Assets," for additional disclosures on our intangible assets. | |||||||||||||
Notes receivable — We received a $450 secured note resulting from the sale of two radio stations in Boise, Idaho in September 2009. Interest-only payments were due monthly and the principal balance of the note was due on September 25, 2014. Principal payments totaling $50 were received in 2011 and 2010. At December 25, 2011, the note receivable was $400 and reported in other assets in the condensed consolidated balance sheets. In the third quarter of 2012, the remaining balance was paid. | |||||||||||||
In consideration for the sale of the Clearwater, Florida-based operations of PrimeNet in February 2010, we received a $700 promissory note repayable over four years and a $147 working capital note repayable over three years. At the time of the sale, we recorded receivables of $587 and $129, respectively, representing the fair value of the notes discounted at 6.785% and 9.08%, respectively. At December 25, 2011, the notes receivables balances were $433 and $51, respectively, and reported in receivables, net in the consolidated balance sheets. In 2012, both notes were paid in full. | |||||||||||||
In partial consideration for the sale of certain publishing assets of Journal Community Publishing Groups, Inc. in December 2012, we received a $772 promissory note bearing interest at 3% and repayable over three years. At the time of the sale, we recorded a $738 receivable representing the estimated fair value of the note discounted at 6.25%. These fair value measurements fall within Level 2 of the fair value hierarchy. The notes receivable balance at December 29, 2013 and December 30, 2012 was $524 and $772, respectively. | |||||||||||||
Interest income and the unamortized discount on our notes receivable are recorded using the effective interest method. | |||||||||||||
Impairment of long-lived assets—Property and equipment and other definite-lived intangible assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. If an asset is considered impaired, a charge is recognized for the difference between the fair value and carrying value of the asset or group of assets. Such analyses necessarily involve significant judgment. In 2013 and 2012, we recorded property impairment charges of $238 and $368 at our radio segment representing the excess of indicated fair value over the carrying value of a building held for sale.  In 2012, our publishing segment recorded a building impairment charge of $125 representing the excess in indicated fair value over the carrying value of the assets held for sale. Fair value was determined pursuant to an accepted offer to sell the building or a broker's opinion of the value based upon similar assets in an inactive market. This fair value measurement is considered a level 3 measurement under the fair value hierarchy. | |||||||||||||
Share Repurchases—Shares repurchased under our July 2011 share repurchase program remain authorized but unissued. The cost of the class A shares repurchased under the program was greater than par value and we recorded a charge to par value and additional paid in capital. On August 13, 2012, we repurchased all 3,264 outstanding shares of our class C common stock, including all rights associated with such shares of class C common stock. | |||||||||||||
Earnings per share | |||||||||||||
Basic | |||||||||||||
For all periods during which our class C common stock was issued and outstanding (see Note 2 "Notes Payable" regarding the Company's repurchase of all 3,264 shares of the Company's class C common stock issued and outstanding in August 2012), we apply the two-class method for calculating and presenting our basic earnings per share. As noted in the FASB's guidance for earnings per share, the two-class method is an earnings allocation formula that determines earnings per share for each class of common stock according to dividends declared (or accumulated) and participation rights in undistributed earnings. Under that method: | |||||||||||||
(a) | Income (loss) from continuing operations ("net earnings (loss)") is reduced by the amount of dividends declared in the current period for each class of stock and by the contractual amount of dividends that must be paid or accrued during the current period. | ||||||||||||
(b) | The remaining earnings, which may include earnings from discontinued operations ("undistributed earnings"), are allocated to each class of common stock to the extent that each class of stock may share in earnings if all of the earnings for the period were distributed. | ||||||||||||
(c) | The remaining losses ("undistributed losses") are allocated to the class A and B common stock. Undistributed losses are not allocated to the class C common stock and non-vested restricted stock because the class C common stock and the non-vested restricted stock are not contractually obligated to share in the losses. Losses from discontinued operations are allocated to class A and B common stock and may be allocated to class C common stock and non-vested restricted stock if there is undistributed earnings after deducting earnings distributed to class C common stock from income from continuing operations. | ||||||||||||
(d) | The total earnings (loss) allocated to each class of common stock are then divided by the number of weighted average shares outstanding of the class of common stock to which the earnings (loss) are allocated to determine the earnings (loss) per share for that class of common stock. | ||||||||||||
(e) | Basic earnings (loss) per share data are presented for class A and B common stock in the aggregate and for class C common stock. The basic earnings (loss) per share for class A and B common stock are the same; hence, these classes are reported together. | ||||||||||||
In applying the two-class method, we have determined that undistributed earnings should be allocated equally on a per share basis among each class of common stock due to the lack of any contractual participation rights of any class to those undistributed earnings. Undistributed losses are allocated to only the class A and B common stock for the reason stated above. | |||||||||||||
The following table sets forth the computation of basic earnings per share under the two-class method: | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Numerator for basic earnings from continuing operations for each class of common stock and non-vested restricted stock: | |||||||||||||
Earnings from continuing operations | $ | 26,250 | $ | 32,582 | $ | 21,713 | |||||||
Less dividends: | |||||||||||||
Class A and B | - | - | - | ||||||||||
Minimum class C | - | 1,146 | 1,854 | ||||||||||
Non-vested restricted stock | - | - | - | ||||||||||
Total undistributed earnings from continuing operations | $ | 26,250 | $ | 31,436 | $ | 19,859 | |||||||
Undistributed earnings from continuing operations: | |||||||||||||
Class A and B | $ | 26,250 | $ | 29,991 | $ | 18,423 | |||||||
Class C | - | 1,233 | 1,177 | ||||||||||
Non-vested restricted stock | - | 212 | 259 | ||||||||||
Total undistributed earnings from continuing operations | $ | 26,250 | $ | 31,436 | $ | 19,859 | |||||||
Numerator for basic earnings from continuing operations per class A and B common stock: | |||||||||||||
Minimum dividends on class A and B | $ | - | $ | - | $ | - | |||||||
Class A and B undistributed earnings | 26,250 | 29,991 | 18,423 | ||||||||||
Numerator for basic earnings from continuing operations per class A and B common stock | $ | 26,250 | $ | 29,991 | $ | 18,423 | |||||||
Numerator for basic earnings from continuing operations per class C common stock: | |||||||||||||
Minimum dividends on class C | $ | - | $ | 1,146 | $ | 1,854 | |||||||
Class C undistributed earnings | - | 1,233 | 1,177 | ||||||||||
Numerator for basic earnings from continuing operations per class C common stock | $ | - | $ | 2,379 | $ | 3,031 | |||||||
Denominator for basic earnings from continuing operations for each class of common stock: | |||||||||||||
Weighted average shares outstanding - | |||||||||||||
Class A and B | 50,259 | 50,091 | 51,088 | ||||||||||
Class C | - | 3,264 | -1 | 3,264 | |||||||||
Basic earnings per share from continuing operations: | |||||||||||||
Class A and B | $ | 0.52 | $ | 0.6 | $ | 0.36 | |||||||
Class C | $ | - | $ | 0.73 | $ | 0.93 | |||||||
-1 | The weighted average number of shares is calculated only for the period of time which the class C common stock was outstanding during the period, not the entire period. | ||||||||||||
2013 | 2012 | 2011 | |||||||||||
Numerator for basic earnings from discontinued operations for each class of common stock and non-vested restricted stock: | |||||||||||||
Total undistributed earnings from discontinued operations | $ | (49 | ) | $ | 743 | $ | 473 | ||||||
Undistributed earnings from discontinued operations: | |||||||||||||
Class A and B | (49 | ) | 709 | 439 | |||||||||
Class C | - | 29 | 28 | ||||||||||
Non-vested restricted stock | - | 5 | 6 | ||||||||||
Total undistributed earnings from discontinued operations | $ | (49 | ) | $ | 743 | $ | 473 | ||||||
Denominator for basic earnings from discontinued operations for each class of common stock: | |||||||||||||
Weighted average shares outstanding - | |||||||||||||
Class A and B | 50,259 | 50,091 | 51,088 | ||||||||||
Class C | - | 3,264 | -1 | 3,264 | |||||||||
Basic earnings per share from discontinued operations: | |||||||||||||
Class A and B | $ | - | $ | 0.01 | $ | 0.01 | |||||||
Class C | $ | - | $ | 0.01 | $ | 0.01 | |||||||
Numerator for basic net earnings for each class of common stock: | |||||||||||||
Net earnings | $ | 26,201 | $ | 33,325 | $ | 22,186 | |||||||
Less dividends: | |||||||||||||
Class A and B | - | - | - | ||||||||||
Minimum class C | - | 1,146 | 1,854 | ||||||||||
Non-vested restricted stock | - | - | - | ||||||||||
Total undistributed net earnings | $ | 26,201 | $ | 32,179 | $ | 20,332 | |||||||
Undistributed net earnings: | |||||||||||||
Class A and B | $ | 26,201 | $ | 30,701 | $ | 18,862 | |||||||
Class C | - | 1,261 | 1,206 | ||||||||||
Non-vested restricted stock | - | 217 | 264 | ||||||||||
Total undistributed net earnings | $ | 26,201 | $ | 32,179 | $ | 20,332 | |||||||
Numerator for basic net earnings per class A and B common stock: | |||||||||||||
Dividends on class A and B | $ | - | $ | - | $ | - | |||||||
Class A and B undistributed net earnings | 26,201 | 30,701 | 18,862 | ||||||||||
Numerator for basic net earnings per class A and B common stock | $ | 26,201 | $ | 30,701 | $ | 18,862 | |||||||
-1 | The weighted average number of shares is calculated only for the period of time which the class C common stock was outstanding during the period, not the entire period. | ||||||||||||
2013 | 2012 | 2011 | |||||||||||
Numerator for basic net earnings per class C common stock: | |||||||||||||
Minimum dividends on class C | $ | - | $ | 1,146 | $ | 1,854 | |||||||
Class C undistributed net earnings | - | 1,261 | 1,206 | ||||||||||
Numerator for basic net earnings per class C common stock | $ | - | $ | 2,407 | $ | 3,060 | |||||||
Denominator for basic net earnings for each class of common stock: | |||||||||||||
Weighted average shares outstanding - | |||||||||||||
Class A and B | 50,259 | 50,091 | 51,088 | ||||||||||
Class C | - | 3,264 | -1 | 3,264 | |||||||||
Basic net earnings per share: | |||||||||||||
Class A and B | $ | 0.52 | $ | 0.61 | $ | 0.37 | |||||||
Class C | $ | - | $ | 0.74 | $ | 0.94 | |||||||
-1 | The weighted average number of shares is calculated only for the period of time which the class C common stock was outstanding during the period, not the entire period. | ||||||||||||
Diluted | |||||||||||||
Diluted earnings per share is computed based upon the assumption that common shares are issued upon exercise of our stock appreciation rights when the exercise price is less than the average market price of our common shares and common shares will be outstanding upon expiration of the vesting periods for our non-vested restricted stock and performance-based restricted stock units. For the year ended December 29, 2013, 435 non-vested restricted class B common shares and performance-based restricted stock units are not included in the computation of diluted earnings per share because they are anti-dilutive. For the year ended December 30, 2012, 538 non-vested restricted class B common shares are not included in the computation of diluted earnings per share because they are anti-dilutive. The class C shares are not converted into class A and B shares because they are anti-dilutive for all periods presented, and therefore are not included in the diluted weighted average shares outstanding. | |||||||||||||
The following table sets forth the computation of diluted net earnings (loss) per share for class A and B common stock: | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Numerator for diluted net earnings per share: | |||||||||||||
Dividends on class A and B common stock | $ | - | $ | - | $ | - | |||||||
Total undistributed earnings from continuing operations | 26,250 | 29,991 | 18,424 | ||||||||||
Total undistributed earnings from discontinued operations | (49 | ) | 710 | 439 | |||||||||
Net earnings | $ | 26,201 | $ | 30,701 | $ | 18,863 | |||||||
Denominator for diluted net earnings per share: | |||||||||||||
Weighted average shares outstanding | 50,436 | 50,091 | 51,088 | ||||||||||
Diluted earnings per share: | |||||||||||||
Continuing operations | $ | 0.52 | $ | 0.6 | $ | 0.36 | |||||||
Discontinued operations | - | 0.01 | 0.01 | ||||||||||
Net earnings | $ | 0.52 | $ | 0.61 | $ | 0.37 | |||||||
Diluted earnings per share for the class C common stock is the same as basic earnings per share for the class C common stock because there are no class C common stock equivalents. | |||||||||||||
Prior to the repurchase of the class C common stock, each of the 3,264 class C shares outstanding was convertible at any time at the option of the holder into either (i) 1.363970 class A shares (or a total of 4,452 class A shares) or (ii) 0.248243 class A shares (or a total of 810 class A shares) and 1.115727 class B shares (or a total of 3,642 class B shares). | |||||||||||||
New accounting standards | |||||||||||||
In July 2013, the FASB issued guidance related to the presentation of an unrecognized tax benefit when a net operating loss carryforward, similar tax loss, or a tax credit carryforward exists. The new guidance clarifies that companies should present an unrecognized tax benefit as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss or a tax credit carryforward. This guidance is effective for fiscal years beginning after December 15, 2013, with early adoption permitted. We adopted this guidance in 2013. The adoption of this guidance did not impact our financial position or results of operations. | |||||||||||||
In February 2013, the FASB issued guidance related to items reclassified from accumulated other comprehensive income. The new guidance requires either in a single note or parenthetically on the face of the financial statements: (i) the effect of significant amounts reclassified from each component of accumulated other comprehensive income based on its source and (ii) the income statement line items affected by the reclassification. This guidance is effective for fiscal years beginning January 1, 2013 with early adoption permitted. We adopted this guidance in 2013. The adoption of this guidance did not impact our financial position or results of operations. |
NOTES_PAYABLE
NOTES PAYABLE | 12 Months Ended | ||
Dec. 29, 2013 | |||
NOTES PAYABLE [Abstract] | ' | ||
NOTES PAYABLE | ' | ||
2 | NOTES PAYABLE | ||
Long-term Notes Payable to Banks | |||
On December 5, 2012, we entered into an amended and restated credit agreement for a secured term loan facility and a secured revolving credit facility with initial aggregate commitments of $350,000, including the term loan commitment of $150,000 and the revolving credit facility commitment of $200,000, both of which mature on December 5, 2017. The secured term loan facility amortizes at 10% per annum payable quarterly with the balance due at maturity. As of December 29, 2013, the outstanding principal amount of revolving loans drawn under the credit agreement was $56,200, and the outstanding principal amount of term loans drawn under the credit agreement was $138,750. The proceeds of the senior secured credit facilities were used for the acquisition of NewsChannel 5 Network, LLC and general corporate purposes. Amounts under the secured revolving credit facility may be borrowed, repaid and reborrowed by us from time to time until the maturity date of the revolving loan facility. Voluntary prepayments and commitment reductions are permitted at any time without fee upon proper notice and subject to a minimum dollar requirement. Voluntary prepayments of the secured term loan facility represent a permanent reduction in credit available. At our option, the commitments under the credit agreement may be increased from time to time by an aggregate amount not to exceed $100,000. The increase option is subject to the satisfaction of certain conditions, including, without limitation, the identification of lenders (which may include existing lenders or new lenders) willing to provide the additional commitments. | |||
Our borrowings under the credit agreement incur interest at either (a) LIBOR plus a margin that ranges from 150.0 basis points to 250.0 basis points, depending on our net debt ratio, or (b) (i) the base rate, which equals the highest of the prime rate set by U.S. Bank National Association, the Federal Funds Rate plus 50.0 basis points or one-month LIBOR plus 100.0 basis points, plus (ii) a margin that ranges from 50.0 basis points to 150.0 basis points, depending on our net debt ratio. The initial pricing spread above LIBOR was 225.0 basis points. | |||
Our obligations under the credit agreement are currently guaranteed by certain of our domestic subsidiaries. Subject to certain exceptions, the credit agreement is secured by liens on certain of our assets and contains affirmative, negative and financial covenants which are customary for financings of this type, including, among other things, limits on the creation of liens, limits on the incurrence of indebtedness, restrictions on dispositions and restrictions on the payment of dividends. The senior secured credit facilities contains the following financial covenants which remain constant over the term of the agreement: | |||
· | A consolidated funded debt ratio of not greater than 3.75-to-1, as of the end of each fiscal quarter, as determined for the four fiscal quarters then ended. This ratio compares, as of the date of determination, our consolidated funded debt on such date to consolidated EBITDA, defined in the credit agreement as earnings before interest, taxes, depreciation, amortization, restructuring charges, gains/losses on asset disposals, non-cash charges and certain other adjustments. | ||
· | A minimum interest coverage ratio of not less than 3-to-1, as of the end of each fiscal quarter, as determined for the four fiscal quarters then ended. This ratio compares, for any period, our consolidated EBITDA, defined in the credit agreement as earnings before interest, taxes, depreciation, amortization, restructuring charges, gains/losses on asset disposals, non-cash charges and certain other adjustments. | ||
As of December 29, 2013 and December 30, 2012, we had borrowings of $194,950 and $230,095, respectively, under our credit facilities at a currently effective blended interest rate of 2.23% and 2.53%, respectively. Remaining unamortized fees in connection with the credit facilities of $3,772, which are included in other assets, are being amortized over the term of the senior secured credit facilities using the straight-line method, which is not materially different than the result utilizing the effective interest method. | |||
We estimate the fair value of our senior secured credit facilities at December 29, 2013 to be $187,469, based on discounted cash flows using an interest rate of 3.36%. We estimated the fair value of our secured credit facility at December 30, 2012 to be $224,752, based on discounted cash flows using an interest rate of 3.08%. Interest rates utilized are estimated based on observed market rates of interest for debt with similar maturities and seniority. These fair value measurements fall within Level 2 of the fair value hierarchy. | |||
Scheduled minimum principal repayments of the secured term loan facility are $15,000 in 2014, $15,000 in 2015, $15,000 in 2016 and $93,750 in 2017. | |||
Unsecured Subordinated Notes Payable | |||
On August 13, 2012, we repurchased all 3,264 outstanding shares of our class C common stock, including all rights associated with such shares of class C common stock, in exchange for $6,246 in cash and the issuance of 15 unsecured subordinated promissory notes with an aggregate principal amount of $25,599 and bearing interest at a rate of 7.25% per annum. The cash payment equaled the amount of the minimum unpaid and undeclared dividend on the class C common stock through August 12, 2012. | |||
Seven of the notes with an aggregate principal amount of $9,664 were paid in 2012. A scheduled minimum principal repayment for $2,656 was made on September 30, 2013. The remaining seven subordinated notes, with an aggregate remaining principal amount of approximately $13,279, are payable in equal annual installments of $2,656 on September 30 of each of 2014, 2015, 2016, 2017 and 2018, with no prepayment right. Interest on the notes is payable quarterly. | |||
We estimate the fair value of the subordinated notes at December 29, 2013 to be $13,515 based on discounted cash flows using an interest rate of 7.19%. We estimated the fair value of the subordinated notes at December 30, 2012 to be $16,188 based on discounted cash flows using an interest rate of 7.26%. Interest rates utilized are estimated based on observed market rates of interest for debt with similar maturities and seniority. These fair value measurements fall within Level 2 of the fair value hierarchy. As of December 29, 2013, $13,279 of the principal amount of the subordinated notes remains outstanding. |
EMPLOYEE_BENEFIT_PLANS
EMPLOYEE BENEFIT PLANS | 12 Months Ended | ||||||||||||||||||||||||
Dec. 29, 2013 | |||||||||||||||||||||||||
EMPLOYEE BENEFIT PLANS [Abstract] | ' | ||||||||||||||||||||||||
EMPLOYEE BENEFIT PLANS | ' | ||||||||||||||||||||||||
3 | EMPLOYEE BENEFIT PLANS | ||||||||||||||||||||||||
We have a defined benefit pension plan covering certain employees. The defined benefit pension plan was permanently frozen effective January 1, 2011. The plan provides benefits based on years of service and the average compensation for the employee's last five years of employment. Plan assets consist primarily of listed stocks and government and other bonds. | |||||||||||||||||||||||||
We also sponsor an unfunded non-qualified pension plan for certain employees whose benefits under the pension plan and the 401(k) plan may be restricted due to limitations imposed by the Internal Revenue Service. The unfunded non-qualified pension plan was permanently frozen effective January 1, 2011. The disclosure for the unfunded non-qualified pension plan for all years presented is combined with the defined benefit pension plan. | |||||||||||||||||||||||||
In addition, we provide postretirement health benefits to certain retirees and their eligible spouses and certain full-time active employees who did not attain age 50 by December 31, 2006. Full-time active employees who retire after April 1, 2007 do not receive an employer contribution for health benefits after attaining age 65. Due to certain plan changes, we do not expect the plan will qualify for actuarial equivalent pharmaceutical benefits under the Medicare Part D federal subsidy. | |||||||||||||||||||||||||
Other | |||||||||||||||||||||||||
Pension Benefits | Postretirement Benefits | ||||||||||||||||||||||||
Years ended December 29 and December 30 | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||
Change in benefit obligations | |||||||||||||||||||||||||
Benefit obligation at beginning of year | $ | 182,004 | $ | 171,028 | $ | 14,608 | $ | 17,274 | |||||||||||||||||
Service cost | - | - | 55 | 14 | |||||||||||||||||||||
Interest cost | 7,009 | 7,578 | 380 | 630 | |||||||||||||||||||||
Actuarial (gain) loss | (15,365 | ) | 12,322 | (277 | ) | (2,010 | ) | ||||||||||||||||||
Benefits paid | (9,156 | ) | (8,924 | ) | (1,669 | ) | (1,300 | ) | |||||||||||||||||
Benefit obligation at end of year | $ | 164,492 | $ | 182,004 | $ | 13,097 | $ | 14,608 | |||||||||||||||||
Other | |||||||||||||||||||||||||
Pension Benefits | Postretirement Benefits | ||||||||||||||||||||||||
Years ended December 29 and December 30 | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||
Change in plan assets | |||||||||||||||||||||||||
Fair value of plan assets at beginning of year | $ | 102,602 | $ | 96,699 | $ | - | $ | - | |||||||||||||||||
Actual gain on plan assets | 15,386 | 11,672 | - | - | |||||||||||||||||||||
Company contributions | 3,114 | 3,155 | 1,669 | 1,300 | |||||||||||||||||||||
Benefits paid | (9,156 | ) | (8,924 | ) | (1,669 | ) | (1,300 | ) | |||||||||||||||||
Fair value of plan assets at end of year | $ | 111,946 | $ | 102,602 | $ | - | $ | - | |||||||||||||||||
Funded status | $ | (52,546 | ) | $ | (79,402 | ) | $ | (13,097 | ) | $ | (14,608 | ) | |||||||||||||
Other | |||||||||||||||||||||||||
Pension Benefits | Postretirement Benefits | ||||||||||||||||||||||||
Years ended December 29 and December 30 | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||
Acounts recognized in consolidated balance sheets | |||||||||||||||||||||||||
Current liabilities | $ | (491 | ) | $ | (476 | ) | $ | (1,568 | ) | $ | (1,645 | ) | |||||||||||||
Noncurrent liabilities | (52,055 | ) | (78,926 | ) | (11,529 | ) | (12,963 | ) | |||||||||||||||||
Total | $ | (52,546 | ) | $ | (79,402 | ) | $ | (13,097 | ) | $ | (14,608 | ) | |||||||||||||
Pension Benefits | |||||||||||||||||||||||||
Actuarial | Prior | Deferred | |||||||||||||||||||||||
Loss | Service | Income | |||||||||||||||||||||||
(Gain), Net | Credit | Taxes | Total | ||||||||||||||||||||||
Amounts recognized in accumulated other comprehensive loss | |||||||||||||||||||||||||
As of December 30, 2012 | $ | 93,217 | $ | (48 | ) | $ | (37,052 | ) | $ | 56,117 | |||||||||||||||
Current year change | (26,213 | ) | 10 | 10,152 | (16,051 | ) | |||||||||||||||||||
As of December 29, 2013 | $ | 67,004 | $ | (38 | ) | $ | (26,900 | ) | $ | 40,066 | |||||||||||||||
The accumulated benefit obligation for the pension plans was $164,492 and $182,004 at December 29, 2013 and December 30, 2012, respectively. | |||||||||||||||||||||||||
Other Postretirement Benefits | |||||||||||||||||||||||||
Actuarial | Prior | Deferred | |||||||||||||||||||||||
Loss | Service | Income | |||||||||||||||||||||||
(Gain), Net | Credit | Taxes | Total | ||||||||||||||||||||||
Amounts recognized in accumulated other comprehensive loss | |||||||||||||||||||||||||
As of December 30, 2012 | $ | 183 | $ | (783 | ) | $ | 222 | $ | (378 | ) | |||||||||||||||
Current year change | (277 | ) | 219 | 24 | (34 | ) | |||||||||||||||||||
As of December 29, 2013 | $ | (94 | ) | $ | (564 | ) | $ | 246 | $ | (412 | ) | ||||||||||||||
Pension Benefits | |||||||||||||||||||||||||
Years ended December 29, December 30 and December 25 | 2013 | 2012 | 2011 | ||||||||||||||||||||||
Components of net periodic benefit cost | |||||||||||||||||||||||||
Service cost | $ | - | $ | - | $ | - | |||||||||||||||||||
Interest cost | 7,009 | 7,578 | 7,850 | ||||||||||||||||||||||
Expected return on plan assets | (7,325 | ) | (8,454 | ) | (9,594 | ) | |||||||||||||||||||
Amortization of: | |||||||||||||||||||||||||
Unrecognized prior service credit | (10 | ) | (10 | ) | (10 | ) | |||||||||||||||||||
Unrecognized net loss | 2,787 | 2,038 | 979 | ||||||||||||||||||||||
Net periodic benefit cost included in operating costs and expenses and selling and administrative expenses | $ | 2,461 | $ | 1,152 | $ | (775 | ) | ||||||||||||||||||
Other Postretirement Benefits | |||||||||||||||||||||||||
Years ended December 29, December 30 and December 25 | 2013 | 2012 | 2011 | ||||||||||||||||||||||
Components of net periodic benefit cost | |||||||||||||||||||||||||
Service cost | $ | 55 | $ | 14 | $ | 53 | |||||||||||||||||||
Interest cost | 380 | 630 | 827 | ||||||||||||||||||||||
Amortization of: | |||||||||||||||||||||||||
Unrecognized prior service credit | (219 | ) | (219 | ) | (219 | ) | |||||||||||||||||||
Unrecognized net transition obligation | - | 546 | 549 | ||||||||||||||||||||||
Unrecognized net loss | - | 188 | - | ||||||||||||||||||||||
Net periodic benefit cost included in selling and administrative expenses | $ | 216 | $ | 1,159 | $ | 1,210 | |||||||||||||||||||
The unrecognized net loss and prior service credit for the defined benefit pension plans that is expected to be amortized from accumulated other comprehensive income into net periodic benefit cost over the next fiscal year is $2,122 and ($10), respectively. The prior service credit and transition obligation for the other postretirement pension plan that is expected to be amortized from other accumulated comprehensive income into net periodic benefit cost over the next fiscal year is ($219) and $0, respectively. | |||||||||||||||||||||||||
The costs for our pension benefits and other postretirement benefits are actuarially determined. Key assumptions utilized at the measurement dates of December 29, 2013 and December 30, 2012 for pension benefits and for other postretirement benefits include the following: | |||||||||||||||||||||||||
Weighted-average assumptions used to determine benefit obligations: | |||||||||||||||||||||||||
Other | |||||||||||||||||||||||||
Pension Benefits | Postretirement Benefits | ||||||||||||||||||||||||
December 29 and December 30 | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||
Discount rate | 4.75 | % | 3.95 | % | 3.55 | % | 2.75 | % | |||||||||||||||||
Rate of compensation increases | - | - | - | - | |||||||||||||||||||||
Weighted-average assumptions used to determine net periodic benefit cost: | |||||||||||||||||||||||||
Other | |||||||||||||||||||||||||
Pension Benefits | Postretirement Benefits | ||||||||||||||||||||||||
December 29, December 30 and December 25 | Â Â | 2013 | 2012 | 2011 | 2013 | 2012 | 2011 | ||||||||||||||||||
Discount rate | 3.95 | % | 4.55 | % | 5.35 | % | 2.75 | % | 3.85 | % | 4.95 | % | |||||||||||||
Expected return on plan assets | 7.25 | 7.75 | 8.25 | - | - | - | |||||||||||||||||||
Rate of compensation increases | - | - | - | - | - | - | |||||||||||||||||||
To determine the discount rate assumptions for the pension and the postretirement benefit plans, we studied our plans' specific discount rate by matching our projected benefit payments to a yield curve developed from high grade corporate bonds. The results of those studies were used as the benchmark to determine the discount rate assumptions. | |||||||||||||||||||||||||
We studied historical markets to determine the long-term rate of return assumption for plan assets. We preserved the long-term historical relationships between equities and fixed-income securities, consistent with the widely accepted capital market principle that assets with higher volatility generate a greater return over the long run. We evaluate current market factors such as inflation and interest rates before we determine long-term capital market assumptions. We review peer data and historical returns to check for reasonableness and appropriateness. We anticipate our expected rate of return on plan assets assumption to be 6.75% for our 2014 valuation. | |||||||||||||||||||||||||
The assumed health care cost trend rate used in measuring the postretirement benefit obligation for retirees for 2013 is 9.00%, grading down to 5.00% in the year 2021 and thereafter. The assumed health care cost trend rates have a significant effect on the amounts reported for other postretirement benefits. A 1% change in the assumed health care cost trend rate would have the following effects: | |||||||||||||||||||||||||
1% | 1% | ||||||||||||||||||||||||
Increase | Decrease | ||||||||||||||||||||||||
Effect on total of service and interest cost components in 2013 | $ | 10 | $ | (9 | ) | ||||||||||||||||||||
Effect on postretirement benefit obligation as of December 29, 2013 | $ | 197 | $ | (191 | ) | ||||||||||||||||||||
Plan Assets | |||||||||||||||||||||||||
The following tables present the fair value of our plan assets by level of the fair value hierarchy. In accordance with the FASB's guidance for fair value measurements, level 1 inputs are quoted prices in active markets for identical assets; level 2 inputs are significant other observable inputs; and level 3 inputs are significant unobservable inputs. | |||||||||||||||||||||||||
Our pension plan weighted average asset allocations at December 29, 2013 and December 30, 2012 by asset category are as follows: | |||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | |||||||||||||||||||||||
Inputs | Inputs | Inputs | Total | ||||||||||||||||||||||
29-Dec-13 | |||||||||||||||||||||||||
Mutual funds | 111,205 | - | - | 111,205 | |||||||||||||||||||||
Money-market fund | - | 740 | - | 740 | |||||||||||||||||||||
Fair value of plan assets | $ | 111,205 | $ | 740 | $ | - | $ | 111,945 | |||||||||||||||||
Level 1 | Level 2 | Level 3 | |||||||||||||||||||||||
Inputs | Inputs | Inputs | Total | ||||||||||||||||||||||
30-Dec-12 | |||||||||||||||||||||||||
Cash | $ | 715 | $ | - | $ | - | $ | 715 | |||||||||||||||||
Mutual funds | 89,430 | - | - | 89,430 | |||||||||||||||||||||
Money-market fund | - | 7 | - | 7 | |||||||||||||||||||||
Collective trust fund | - | 12,450 | - | 12,450 | |||||||||||||||||||||
Fair value of plan assets | $ | 90,145 | $ | 12,457 | $ | - | $ | 102,602 | |||||||||||||||||
Plan Assets | |||||||||||||||||||||||||
December 29 and December 30 | 2013 | 2012 | |||||||||||||||||||||||
Equity securities | 42.2 | % | 65.2 | % | |||||||||||||||||||||
Fixed-income securities | 57.2 | 34.9 | |||||||||||||||||||||||
Other | 0.6 | (0.1 | ) | ||||||||||||||||||||||
Total | 100 | % | 100 | % | |||||||||||||||||||||
We employ a dynamic investment strategy, changing the allocation between return-seeking and liability hedging assets to de-risk the plan as the funded ratio improves. We believe the strategy provides a reasonable probability of achieving growth of assets that will assist in closing the Plan's funding gap, while removing risk systematically as we reach our long-term goal of being fully-funded. Based on an assessment of our long-term goals and desired risk levels, we developed a glide path that adjusts the target allocation to return-seeking assets as well as the corresponding minimum and maximum allocations as the Plan's funded status improves. The funded status is monitored on a quarterly basis. We seek to maintain a diversified portfolio within the return-seeking asset portfolio and the liability hedging portfolio using a diversified blend of equity and debt investments. The return-seeking component is diversified across U.S. and non-U.S. stocks, both actively and passively managed. The liability hedging component is diversified across the maturity, quality and sector spectrum. To achieve an appropriate level of expected return, value-added potential, and risk, we adopted the following target allocations within the return-seeking segment: | |||||||||||||||||||||||||
Percent of Return-Seeking Portfolio | |||||||||||||||||||||||||
Target | |||||||||||||||||||||||||
U.S. Equity | 33 | % | |||||||||||||||||||||||
Non-U.S. Equity (Developed and Emerging Markets) | 33 | ||||||||||||||||||||||||
Global Equity | 34 | ||||||||||||||||||||||||
Contributions | |||||||||||||||||||||||||
We fund our defined benefit pension plan at the minimum amount required by the Pension Protection Act of 2006. During 2013, we contributed $2,710 to our qualified defined benefit pension plan and $404 to our non-qualified pension plan, respectively. Based on the most recent current projections and after giving effect to our election under the recently enacted Moving Ahead for Progress in the 21st Century Act (MAP-21) pension legislation, we do not expect to contribute to our qualified defined benefit pension plan in 2014. We expect to contribute $491 to our unfunded non-qualified pension plan in 2014. | |||||||||||||||||||||||||
Benefit Payments | |||||||||||||||||||||||||
The following benefit payments, which reflect expected future service, as appropriate, are expected to be paid with future contributions to the plan or directly from plan assets, as follows: | |||||||||||||||||||||||||
Other | |||||||||||||||||||||||||
Pension | Postretirement | ||||||||||||||||||||||||
Benefits | Benefits | ||||||||||||||||||||||||
2014 | $ | 9,399 | $ | 1,568 | |||||||||||||||||||||
2015 | 9,669 | 1,545 | |||||||||||||||||||||||
2016 | 9,869 | 1,509 | |||||||||||||||||||||||
2017 | 10,015 | 1,524 | |||||||||||||||||||||||
2018 | 10,142 | 1,485 | |||||||||||||||||||||||
2019-2023 | 52,740 | 5,241 | |||||||||||||||||||||||
The 401(k) plan is a defined contribution benefit plan covering substantially all employees. The plan allows employees to defer up to 50% of their eligible wages, up to the IRS limit, on a pre-tax basis. In addition, employees can contribute up to 50% of their eligible wages after taxes. The maximum combined total contribution may not exceed 50% of each employee's eligible wages. Each employee who elects to participate is eligible to receive company matching contributions. The matching contributions, recorded as an operating expense, were $2,436, $1,979, and $2,070 in 2013, 2012, and 2011, respectively. We contribute $0.50 for each dollar contributed by the 401(k) participant, up to 7% of their eligible wages, for a maximum match of 3.5% of eligible wages, as defined by the 401(k) plan. |
INCOME_TAXES
INCOME TAXES | 12 Months Ended | ||||||||||||
Dec. 29, 2013 | |||||||||||||
INCOME TAXES [Abstract] | ' | ||||||||||||
INCOME TAXES | ' | ||||||||||||
4 | INCOME TAXES | ||||||||||||
The components of the provision (benefit) for income taxes consist of the following: | |||||||||||||
Years ended December 29, December 30 and December 25 | 2013 | 2012 | 2011 | ||||||||||
Continuing operations | |||||||||||||
Current: | |||||||||||||
Federal | $ | 3,864 | $ | 5,290 | $ | 2,169 | |||||||
State | 867 | 294 | 1,069 | ||||||||||
Total current | 4,731 | 5,584 | 3,238 | ||||||||||
Deferred: | |||||||||||||
Federal | 10,438 | 12,828 | 9,575 | ||||||||||
State | 2,003 | 3,276 | 1,491 | ||||||||||
Total deferred | 12,441 | 16,104 | 11,066 | ||||||||||
Total provision for income taxes for continuing operations | $ | 17,172 | $ | 21,688 | $ | 14,304 | |||||||
Discontinued operations | |||||||||||||
Current: | |||||||||||||
Federal | $ | (649 | ) | $ | (210 | ) | $ | (412 | ) | ||||
State | (118 | ) | (11 | ) | (74 | ) | |||||||
Total current | (767 | ) | (221 | ) | (486 | ) | |||||||
Deferred: | |||||||||||||
Federal | 628 | 617 | 671 | ||||||||||
State | 126 | 122 | 144 | ||||||||||
Total deferred | 754 | 739 | 815 | ||||||||||
Total provision (benefit) for income taxes for discontinued operations | $ | (13 | ) | $ | 518 | $ | 329 | ||||||
The significant differences between the statutory federal income tax rates and the effective income tax rates are as follows: | |||||||||||||
Years ended December 29, December 30 and December 25 | 2013 | 2012 | 2011 | ||||||||||
Statutory federal income tax rate | 35 | % | 35 | % | 35 | % | |||||||
State income taxes, net of federal tax benefit | 4.5 | 5 | 5.1 | ||||||||||
Other | 0.1 | - | (0.4 | ) | |||||||||
Effective income tax (benefit) rate | 39.6 | % | 40 | % | 39.7 | % | |||||||
Temporary differences that give rise to the deferred tax assets and liabilities at December 29, 2013 and December 30, 2012 are as follows: | |||||||||||||
2013 | 2012 | ||||||||||||
Current assets | |||||||||||||
Receivables | $ | 388 | $ | 720 | |||||||||
Inventories | 33 | 32 | |||||||||||
Other assets | 676 | 668 | |||||||||||
Accrued compensation | 549 | 731 | |||||||||||
Accrued employee benefits | 930 | 998 | |||||||||||
Total current deferred tax assets | 2,576 | 3,149 | |||||||||||
Current liabitites | |||||||||||||
Accrued state taxes | (68 | ) | (117 | ) | |||||||||
Total current deferred tax liability | (68 | ) | (117 | ) | |||||||||
Total net current deferred tax assets | $ | 2,508 | $ | 3,032 | |||||||||
Non-current assets | |||||||||||||
Accrued employee benefits | $ | 24,530 | $ | 34,445 | |||||||||
State deferred income taxes | 2,251 | 4,502 | |||||||||||
State net operating loss | 2,192 | 2,122 | |||||||||||
Intangible assets | 9,813 | 19,989 | |||||||||||
Other assets | 484 | 278 | |||||||||||
Total non-current deferred tax assets | 39,270 | 61,336 | |||||||||||
Non-current liabilities | |||||||||||||
Property and equipment | (18,584 | ) | (19,468 | ) | |||||||||
Valuation allowances | (184 | ) | (199 | ) | |||||||||
Other liabilities | (377 | ) | (96 | ) | |||||||||
Total non-current deferred tax assets | (19,145 | ) | (19,763 | ) | |||||||||
Total net non-current deferred tax assets | $ | 20,125 | $ | 41,573 | |||||||||
We deduct television and radio broadcast licenses and tax-deductible goodwill over a period of 15 years from the date of acquisition. The non-cash television and radio broadcast license impairment charge recorded in 2012 is not currently deductible for income tax purposes and has caused us to recognize a deferred tax asset. We believe it is more likely than not that we will realize a tax benefit for our deferred tax assets and we believe that they will be utilized to offset future taxable income over the next 20 years in accordance with current income tax law. In the future, we may be required to record a valuation allowance against our deferred tax assets if we have future operating losses or reductions in our expected future profitability which would cause us to believe we would be unable to utilize them. | |||||||||||||
At December 29, 2013, we have $2,192 of tax-effected state net operating loss carryforwards available to offset against future taxable income over the next 20 years. The net operating losses begin expiring in 2028. To the extent we believe it is more likely than not that certain of the net operating loss carryforwards will expire unused, we have recorded $0 in valuation allowances. There are also $184 of capital loss carryforwards that will expire in 2017. We have $184 in valuation allowances for these capital loss carryforwards due to uncertainties surrounding their use. | |||||||||||||
We file tax returns in the United States federal jurisdiction, as well as in approximately 14 state and local jurisdictions. The statute of limitations for assessing additional taxes is three years for federal purposes and typically between three and four years for state and local purposes. Accordingly, our 2010 through 2012 tax returns are open for federal purposes, and our 2009 through 2012 tax returns remain open for state tax purposes, unless the statute of limitations has been previously extended. Currently, we are under audit by the IRS for our 2010 and 2011 tax returns, in Wisconsin for our 2004 through 2007 tax returns and in Illinois for our 2006 and 2007 tax returns. | |||||||||||||
As of December 29, 2013, our liability for unrecognized tax benefits was $727, which, if recognized, would have an impact on our effective tax rate. As of December 29, 2013, it is reasonably possible for $1,003 of unrecognized tax benefits and related interest to be recognized within the next 12 months due to settlements with taxing authorities. | |||||||||||||
The following table summarizes the activity related to our unrecognized tax benefits during 2013, 2012 and 2011: | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Beginning balance | $ | 762 | $ | 885 | $ | 913 | |||||||
Increases due to prior year tax provisions | - | - | 14 | ||||||||||
Decreases related to prior year tax provisions | - | - | (10 | ) | |||||||||
Decreases due to the expiration of statutes of limitations | (8 | ) | (7 | ) | (32 | ) | |||||||
Decreases due to settlements | (27 | ) | (116 | ) | - | ||||||||
Ending Balance | $ | 727 | $ | 762 | $ | 885 | |||||||
We recognize interest income/expense and penalties related to unrecognized tax benefits in our provision for income taxes. At December 29, 2013 and December 30 2012, we had $276 and $229, respectively, accrued for interest expense and penalties. During 2013 and 2012, we recognized $56 and $29 of interest expense, respectively, related to unrecognized tax benefits. Our liability for interest and penalties decreased by $8 due to settlements with taxing authorities. |
COMMITMENTS_AND_CONTINGENCIES
COMMITMENTS AND CONTINGENCIES | 12 Months Ended | ||||
Dec. 29, 2013 | |||||
COMMITMENTS AND CONTINGENCIES [Abstract] | ' | ||||
COMMITMENTS AND CONTINGENCIES | ' | ||||
5 | COMMITMENTS AND CONTINGENCIES | ||||
We lease office space, certain broadcasting facilities, distribution centers, delivery vehicles and equipment under both short-term and long-term leases accounted for as operating leases. Some of the lease agreements contain renewal options and rental escalation clauses, as well as provisions for the payment of utilities, maintenance and taxes. | |||||
As of December 29, 2013, our future minimum rental payments due under noncancellable operating lease agreements consist of the following: | |||||
Due In | |||||
Fiscal Year | |||||
2014 | $ | 2,433 | |||
2015 | 1,709 | ||||
2016 | 1,127 | ||||
2017 | 1,024 | ||||
2018 | 501 | ||||
Thereafter | 1,857 | ||||
$ | 8,651 | ||||
Our publishing businesses lease delivery trucks accounted for as capital leases. As of December 29, 2013, our future minimum rental payments due under capital lease agreements consist of the following: | |||||
Due In | |||||
Fiscal Year | |||||
2014 | $ | 79 | |||
2015 | 82 | ||||
2016 | 57 | ||||
2017 | 37 | ||||
2018 | 38 | ||||
Thereafter | 30 | ||||
$ | 323 | ||||
Rent expense charged to our continuing operations for 2013, 2012 and 2011 was $4,333, $4,545 and $4,207, respectively. We amortize rent expense on a straight-line basis for leases with rent escalation clauses. Rental income from subleases included in our continuing operations for 2013, 2012 and 2011 was $222, $218, and $67, respectively. There were no noncancellable subleases as of December 29, 2013. | |||||
We have $1,879 of standby letters of credit for business insurance purposes. | |||||
Over the next four years, we are committed to purchase and provide advertising time in the amount of $9,510 for television program rights that currently are not available for broadcast, including programs not yet produced. If such programs are not produced, our corresponding commitment would expire without obligation. | |||||
We provided a guarantee to the landlord of our former New England community publications business, which was sold in 2007, with respect to tenant liabilities and obligations associated with a lease which expires in December 2016. As of December 29, 2013, our potential obligation pursuant to the guarantee was $549, plus costs of collection, attorney fees and other charges incurred if the tenant defaults. As part of the sales transaction, we received a guarantee from the parent entity of the buyer of our New England business that the buyer will satisfy all the liabilities and obligations of the assigned lease. In the event that the buyer fails to satisfy its liabilities and obligations and the landlord invokes our guarantee, we have a right to indemnification from the buyer's parent entity. |
SHAREHOLDERS_EQUITY
SHAREHOLDERS' EQUITY | 12 Months Ended | ||||||||||||
Dec. 29, 2013 | |||||||||||||
SHAREHOLDERS' EQUITY [Abstract] | ' | ||||||||||||
SHAREHOLDERS' EQUITY | ' | ||||||||||||
6 | SHAREHOLDERS' EQUITY | ||||||||||||
On August 13, 2012, we repurchased all 3,264 outstanding shares of our class C common stock, including all rights associated with such shares of class C common stock. In conjunction with the repurchase, we paid $6,246 in cash equal to the amount of the minimum unpaid and undeclared dividend on the class C common stock through August 12, 2012. We currently have two classes of common stock outstanding. | |||||||||||||
Class B shares are held by our current and former employees, our non-employee directors and Grant family shareholders. These shares are entitled to ten votes per share, and are convertible to class A shares at the option of the holder after first offering to sell them to other eligible purchasers through the offer procedures set forth in our articles of incorporation. Dividends on class B shares are equal to those declared on the class A shares. Class A shares are publicly traded on the New York Stock Exchange under the symbol "JRN". In 2011, we retired 8,677 class B shares that we held in our treasury. These shares are now designated as authorized and unissued. The excess of the cost of treasury stock over its par value was allocated between retained earnings and paid-in capital. | |||||||||||||
The changes in the number of shares of our common stock (excluding Treasury stock) during 2013, 2012 and 2011 are as follows (in thousands): | |||||||||||||
Common Stock | |||||||||||||
Class C | Class B | Class A | |||||||||||
Balance at December 26, 2010 | 3,264 | 8,595 | 43,196 | ||||||||||
Conversion of class B shares to class A shares | - | (1,683 | ) | 1,683 | |||||||||
Shares repurchased | - | - | (1,100 | ) | |||||||||
Shares issued under equity incentive and employee stock purchase plans | - | 302 | - | ||||||||||
Balance at December 25, 2011 | 3,264 | 7,214 | 43,779 | ||||||||||
Conversion of class B shares to class A shares | - | (682 | ) | 682 | |||||||||
Shares repurchased | (3,264 | ) | (710 | ) | |||||||||
Shares issued under equity incentive and employee stock purchase plans | - | 374 | - | ||||||||||
Balance at December 30, 2012 | - | 6,906 | 43,751 | ||||||||||
Conversion of class B shares to class A shares | - | (919 | ) | 919 | |||||||||
Shares repurchased | - | - | - | ||||||||||
Shares issued under equity incentive and employee stock purchase plans | - | 147 | - | ||||||||||
Balance at December 29, 2013 | - | 6,134 | 44,670 |
STOCKBASED_COMPENSATION
STOCK-BASED COMPENSATION | 12 Months Ended | ||||||||||||
Dec. 29, 2013 | |||||||||||||
STOCK-BASED COMPENSATION [Abstract] | ' | ||||||||||||
STOCK-BASED COMPENSATION | ' | ||||||||||||
7 | STOCK-BASED COMPENSATION | ||||||||||||
2007 Journal Communications, Inc. Omnibus Incentive Plan | |||||||||||||
The purpose of the 2007 Journal Communications, Inc. Omnibus Incentive Plan (2007 Plan) is to promote our success by linking personal interests of our employees, officers and non-employee directors to those of our shareholders, and by providing participants with an incentive for outstanding performance. The 2007 Plan is also intended to enhance our ability to attract, motivate and retain the services of employees, officers and directors upon whose judgment, interest and special effort the successful conduct of our operation is largely dependent. | |||||||||||||
Subject to adjustment as provided in the 2007 Plan, the aggregate number of shares of class A common stock or class B common stock reserved and available for issuance pursuant to awards granted under the 2007 Plan is 4,800 shares which may be awarded in the form of nonstatutory or incentive stock options, stock appreciation rights, restricted stock, restricted or deferred stock units, performance awards, dividend equivalents or other stock-based awards. The 2007 Plan also provides for the issuance of cash-based awards. The 2007 Plan replaced the 2003 Equity Incentive Plan (2003 Plan) and, as of May 3, 2007, all equity grants are made from the 2007 Plan. We will not grant any additional awards under the 2003 Plan. As of December 29, 2013, there are 2,335 shares available for issuance under the 2007 Plan. | |||||||||||||
During the years ended December 29, 2013, December 30, 2012 and December 25, 2011, we recognized $2,089, $2,056 and $1,649, respectively, in stock-based compensation expense. Total income tax benefit recognized related to stock-based compensation for the years ended December 29, 2013, December 30, 2012 and December 25, 2011 was $826, $822 and $656, respectively. We recognize stock-based compensation expense on a straight-line basis over the service period based upon the fair value of the award on the grant date. As of December 29, 2013, total unrecognized compensation cost related to stock-based awards was $1,836, net of estimated forfeitures, which we expect to recognize over a weighted average period of 1.1 years. Stock-based compensation expense is reported in selling and administrative expenses and the net gain on discontinued operations in our consolidated statements of operations. | |||||||||||||
Stock grants | |||||||||||||
The compensation committee of our board of directors has granted class B common stock to employees and non-employee directors under our 2003 Plan and our 2007 Plan. Each stock grant may have been accompanied by restrictions, or may have been made without any restrictions, as the compensation committee of our board of directors determined. Such restrictions could have included requirements that the participant remain in our continuous employment for a specified period of time, or that we or the participant meet designated performance goals. We value non-vested restricted stock grants at the closing market prices of our class A common stock on the grant date. | |||||||||||||
A summary of stock grant activity during 2013 is: | |||||||||||||
Weighted | |||||||||||||
Average Grant | |||||||||||||
Shares | Date Fair Value | ||||||||||||
Non-vested at December 30, 2012 | 538 | $ | 5.3 | ||||||||||
Granted | 228 | 6.42 | |||||||||||
Vested | (319 | ) | 5.34 | ||||||||||
Forfeited | (12 | ) | 5.56 | ||||||||||
Non-vested at December 29, 2013 | 435 | $ | 5.85 | ||||||||||
Our non-vested restricted stock grants vest from one to four years from the grant date. We expect our non-vested restricted stock grants to fully vest over the weighted average remaining service period of 1.1 years. The total grant date fair value of shares vesting during 2013 was $1,701. There was an aggregate of 382 unrestricted and non-vested restricted stock grants issued to our non-employee directors (90 shares) and employees (292 shares) in 2012 at a weighted average fair value of $5.12 per share, of which 192 shares are vested as of December 29, 2013 with a total grant date fair value of $928. There were 368 unrestricted and non-vested restricted stock grants issued to our directors (101 shares) and employees (267 shares) during 2011 at a weighted average fair value of $5.63 per share, of which 185 shares are vested as of December 29, 2013 with a total grant date fair value of $1,003. | |||||||||||||
Performance Units | |||||||||||||
In 2012 and 2013, the compensation committee of our board of directors approved the grant of performance-based restricted stock units (performance units) under our 2007 Plan, which represent the right to earn shares of class B common stock based on continued employment and the achievement of specified targets for adjusted cumulative EBITDA over specified fiscal year performance periods. We value performance unit awards at the closing market price of our class A common stock on the grant date. | |||||||||||||
A summary of stock grant activity during 2013 is: | |||||||||||||
Weighted Average | |||||||||||||
Grant Date | |||||||||||||
Shares | Fair Value | ||||||||||||
Non-vested at December 30, 2012 | 77 | $ | 5.59 | ||||||||||
Granted | 74 | 6.33 | |||||||||||
Vested | - | - | |||||||||||
Forfeited | - | - | |||||||||||
Non-vested at September 29, 2013 | 151 | 5.95 | |||||||||||
Stock appreciation rights | |||||||||||||
A stock appreciation right, or SAR, represents the right to receive an amount equal to the excess of the fair value of a share of our class B common stock on the exercise date over the base value of the SAR, which shall not be less than the fair value of a share of our class B common stock on the grant date. Each SAR is settled only in shares of our class B common stock. The term during which any SAR may be exercised is 10 years from the grant date, or such shorter period as determined by the compensation committee of our board of directors. | |||||||||||||
Our SARs vest over a three year graded vesting schedule and it is our policy to recognize compensation cost for awards with graded vesting on a straight-line basis over the vesting period for the entire award. We ensure the compensation cost recognized at any date is at least equal to the portion of the grant-date value of the award that is vested at that date. The fixed price SARs have a fixed base value equal to the closing price of our class A common stock on the date of grant. The escalating price SARs have an escalating base value that starts with the closing price of our class A common stock on the date of grant and increases by six percent per year for each year that the SARs remain outstanding, starting on the first anniversary of the grant date. | |||||||||||||
A summary of SAR activity during 2013 is: | |||||||||||||
Weighted Average | |||||||||||||
Contractual Term | |||||||||||||
Weighted Average | Remaining | ||||||||||||
SARS | Exercise Price | (years) | |||||||||||
Outstanding and exercisable at December 30, 2012 | 1,083 | $ | 11.26 | 4.6 | |||||||||
Granted | - | ||||||||||||
Exercised | (341 | ) | 7.57 | ||||||||||
Forfeited | - | ||||||||||||
Expired | - | ||||||||||||
Outstanding and exercisable at December 29, 2013 | 742 | $ | 13.3 | 3.9 | |||||||||
All SARs have vested. The aggregate intrinsic value of the SARs exercised during 2013 was $563. The aggregate intrinsic value of the SARs outstanding and exercisable at the end of 2013 is $39. | |||||||||||||
Employee stock purchase plan | |||||||||||||
The 2003 Employee Stock Purchase Plan permits eligible employees to purchase our class B common stock at 90% of the fair market value measured as of the closing market price of our class A common stock on the day of purchase. We recognize compensation expense equal to the 10% discount of the fair market value. Subject to certain adjustments, 3,000 shares of our class B common stock are authorized for sale under this plan. There were 45 class B common shares sold to employees under this plan in 2013 at a weighted average fair value of $5.63. As of December 29, 2013, there are 2,162 shares available for sale under the plan. |
VARIABLE_INTEREST_ENTITY
VARIABLE INTEREST ENTITY | 12 Months Ended | |
Dec. 29, 2013 | ||
VARIABLE INTEREST ENTITY [Abstract] | ' | |
VARIABLE INTEREST ENTITY | ' | |
8 | VARIABLE INTEREST ENTITY | |
We had an affiliation agreement with ACE TV, Inc. for the rights under a local marketing agreement for WACY-TV in Appleton, Wisconsin and to acquire certain assets of ACE TV, Inc. including the broadcast license of WACY-TV for a purchase price of $2,038, pending FCC rule changes and approval. In May 2012, we filed an application with the FCC to convert the local marketing agreement into an ownership interest through a failed station waiver, which was pending approval. Under the affiliation agreement, ACE TV, Inc. provided the programming for WACY-TV and we sold advertising time, provided all other television operating activities and owned certain assets used by WACY-TV. Based on our power to direct certain activities and our right to ultimately acquire certain additional assets, including the broadcast license, we determined that ACE TV, Inc. was a VIE and that we were the primary beneficiary of the variable interests of WACY-TV. As a result, we consolidated the net assets of ACE TV, Inc., aggregating $1,164 which consisted primarily of a broadcast license and investments. The investments of ACE TV, Inc. could be used only to settle obligations of ACE TV, Inc. Creditors of ACE TV, Inc. had no recourse to our general credit. We did not provide financial or other support that we were not contractually required to provide. On October 22, 2012, we closed on the acquisition of the remaining assets used in the operation of WACY-TV from ACE TV, Inc. |
GOODWILL_BROADCAST_LICENSES_AN
GOODWILL, BROADCAST LICENSES AND OTHER INTANGIBLE ASSETS | 12 Months Ended | ||||||||||||||||
Dec. 29, 2013 | |||||||||||||||||
GOODWILL, BROADCAST LICENSES AND OTHER INTANGIBLE ASSETS [Abstract] | ' | ||||||||||||||||
GOODWILL, BROADCAST LICENSES AND OTHER INTANGIBLE ASSETS | ' | ||||||||||||||||
9 | GOODWILL, BROADCAST LICENSES AND OTHER INTANGIBLE ASSETS | ||||||||||||||||
Definite-Lived Intangibles | |||||||||||||||||
Our definite-lived intangible assets consist primarily of network affiliation agreements, customer lists, non-compete agreements and trade names. We amortize the network affiliation agreements over a period of 25 years based on our good relationships with the networks, our long history of renewing these agreements and because 25 years is deemed to be the length of time before a material modification of the underlying contract would occur. We amortize the customer lists over a period of five to 15 years, the non-compete agreements and franchise agreement fees over the terms of the contracts and the trade names over a period of 25 years. Management determined there were no significant adverse changes in the value of these assets as of December 29, 2013. | |||||||||||||||||
Amortization expense was $2,855, $1,601 and $1,391 for 2013, 2012 and 2011, respectively. Estimated amortization expense for our next five fiscal years is $2,818 for 2014, $2,809 for both 2015 and 2016, and $2,784 for both 2017 and 2018. | |||||||||||||||||
The gross carrying amount, accumulated amortization and net carrying amount of the major classes of definite-lived intangible assets as of December 29, 2013 and December 30, 2012 is as follows: | |||||||||||||||||
Gross | Net | ||||||||||||||||
Carrying | Accumulated | Carrying | |||||||||||||||
Amount | Amortization | Amount | |||||||||||||||
29-Dec-13 | |||||||||||||||||
Network affiliation agreements | $ | 66,078 | $ | (9,905 | ) | $ | 56,173 | ||||||||||
Customer lists | 4,149 | (3,661 | ) | 488 | |||||||||||||
Non-compete agreements | 8,510 | (8,510 | ) | - | |||||||||||||
Other | 2,726 | (1,624 | ) | 1,102 | |||||||||||||
Total | $ | 81,463 | $ | (23,700 | ) | $ | 57,763 | ||||||||||
30-Dec-12 | |||||||||||||||||
Network affiliation agreements | $ | 66,078 | $ | (7,261 | ) | $ | 58,817 | ||||||||||
Customer lists | 4,149 | (3,525 | ) | 624 | |||||||||||||
Non-compete agreements | 8,510 | (8,501 | ) | 9 | |||||||||||||
Other | 2,726 | (1,558 | ) | 1,168 | |||||||||||||
Total | $ | 81,463 | $ | (20,845 | ) | $ | 60,618 | ||||||||||
During 2012, our community publications business reporting unit sold all but two of its northern Wisconsin publications. As part of the transactions, we wrote off customer lists, non-compete agreements and other intangible assets with a net carrying amount of $390. | |||||||||||||||||
Weighted-average amortization period: | Years | ||||||||||||||||
Network affiliation agreements | 25 | ||||||||||||||||
Customer lists | 9 | ||||||||||||||||
Non-compete agreements | 5 | ||||||||||||||||
Other | 16 | ||||||||||||||||
Broadcast Licenses | |||||||||||||||||
Television and radio broadcast licenses are deemed to have indefinite useful lives because we have renewed these agreements without issue in the past and we intend to renew them indefinitely in the future. Accordingly, we expect the cash flows from our television and radio broadcast licenses to continue indefinitely. The carrying value of our broadcast licenses was $135,166 and $129,566 as of December 29, 2013 and December 30, 2012, respectively. | |||||||||||||||||
2013 Annual Impairment Test | |||||||||||||||||
For broadcast licenses at individual television and radio stations, we use the Greenfield Method, an income approach commonly used in the broadcast sector, to estimate fair value. This approach assumes the start up of a new station by an independent market participant, and incorporates assumptions that are based on past experiences and judgments about future market performance. These variables include, but are not limited to: the forecasted growth rate of each market (including market population, household income and retail sales), estimated market share, profit margins and operating cash flows of an independent station within a market, estimated capital expenditures and start up costs, risk-adjusted discount rate, likely media competition within the market and expected growth rates into perpetuity to estimate terminal values. Adverse changes in significant assumptions such as an increase in discount rates, or a decrease in projected market revenues, market share or operating cash flows could result in additional non-cash impairment charges on our television and radio broadcast licenses in future periods, which could have a material impact on our financial condition and results of operations. | |||||||||||||||||
The fair value measurements determined for purposes of performing our impairment tests are considered level 3 under the fair value hierarchy because they require significant unobservable inputs to be developed using estimates and assumptions which we determine and reflect those that a market participant would use. | |||||||||||||||||
Our annual impairment test on broadcast licenses was performed at individual television and radio stations as of September 30, 2013. The fair value of the FCC licenses of our Tulsa radio stations KHTT-FM and KBEZ-FM, both acquired in 2012, were within 1% of the book value. The impairment tests indicated none of our television and radio broadcast licenses were impaired. | |||||||||||||||||
2012 Annual Impairment Test | |||||||||||||||||
Our annual impairment test on broadcast licenses was performed at individual television and radio stations as of September 24, 2012. The impairment tests indicated one of our television broadcast licenses and two of our radio broadcast licenses were impaired due to declines in revenue share, declines in projected long-term market revenues, and a reduction in radio perpetuity growth rates. In accordance with the FASB's guidance for goodwill and intangible assets, our broadcast licenses were written down to their estimated fair value, resulting in a $887 non-cash impairment charge in our television business and a $729 non-cash impairment charge in our radio business in the fourth quarter of 2012. The ending book value of our radio broadcast licenses was $46,059 and the ending value of our television broadcast licenses was $33,807 (excludes the broadcast license acquired in December 2012 with the acquisition of NewsChannel 5 Network, LLC). | |||||||||||||||||
2011 Annual Impairment Test | |||||||||||||||||
Our annual impairment test on broadcast licenses was performed at individual television and radio stations as of September 26, 2011. The impairment tests indicated two of our television broadcast licenses were impaired due to a decline in projected long-term market revenues and an increase in the discount rates. The changes in the discount rate used for our broadcast licenses are primarily driven by changes in the expected return on the public equity of comparable companies in the television and media sector and the average cost of capital. In accordance with the FASB's guidance for goodwill and intangible assets, two of our television broadcast licenses were written down to their estimated fair value, resulting in a $735 non-cash impairment charge in the fourth quarter of 2011 in our television business. The ending book value of radio and television broadcast licenses was $47,013 and $34,471, respectively. | |||||||||||||||||
Goodwill | |||||||||||||||||
2013 Annual Impairment Test | |||||||||||||||||
In 2013, we determined our community publishing and daily newspaper reporting units have similar economic characteristics and therefore were combined for the 2013 annual impairment test. Our annual impairment test on goodwill as of September 30, 2013 indicated there was no impairment of our goodwill at our radio, television or combined publishing reporting units. | |||||||||||||||||
For purposes of testing the carrying value of goodwill related to our combined publishing reporting unit, we determine fair value using an income and a market valuation approach. The income approach uses expected cash flows of the reporting unit. The cash flows are discounted for risk and time value. In addition, the present value of the projected residual value is estimated and added to the present value of the cash flows. The market approach is based on price multiples of publicly traded stocks of comparable companies to estimate fair value. Each approach estimated a fair value exceeding carrying value. We base our fair value estimates on various assumptions about our projected operating results, including continuing declines in publishing revenues as well as an expectation that we will achieve cash flow benefits from our continuing cost cutting measures. The valuation methodology used to estimate the fair value of our reporting unit requires inputs and assumptions (i.e., market growth, operating cash flow margins and discount rates) that reflect current market conditions as well as management judgment. These assumptions may change due to changes in market conditions and such changes may result in an impairment of our goodwill. Actual operating results may not achieve these assumptions in the near term and such results may result in future impairment. | |||||||||||||||||
2012 Annual Impairment Test | |||||||||||||||||
Our annual impairment test on goodwill as of September 24, 2012 indicated there was no impairment of our goodwill at our television, radio or community publications reporting units. | |||||||||||||||||
2011 Interim and Annual Impairment Tests | |||||||||||||||||
During the third quarter of 2011, we sold the remaining Florida-based businesses of our community publications reporting unit. In conjunction with the sale, an interim impairment test as of September 25, 2011 was performed on the carrying value of $3,857 of goodwill associated with this reporting unit. Our interim impairment test indicated there was no goodwill impairment. Our annual impairment tests on goodwill associated with the television, radio and community publications reporting units as of September 26, 2011 indicated there was no impairment of our goodwill. | |||||||||||||||||
The changes in the carrying amount of goodwill by reporting segment during the years ended December 29, 2013 and December 30, 2012 are as follows: | |||||||||||||||||
  | Television | Radio | Publishing | Total | |||||||||||||
Goodwill | $ | 169,018 | $ | 64,958 | $ | 20,579 | $ | 254,555 | |||||||||
Accumulated impairment losses | (164,205 | ) | (64,958 | ) | (16,722 | ) | (245,885 | ) | |||||||||
Balance as of December 25, 2011Â | 4,813 | - | 3,857 | 8,670 | |||||||||||||
Goodwill related to the sale of a business | - | - | (923 | ) | (923 | ) | |||||||||||
Goodwill related to the purchase of a business | 116,124 | 1,947 | - | 118,071 | |||||||||||||
Goodwill | 285,142 | 66,905 | 19,656 | 371,703 | |||||||||||||
Accumulated impairment losses | (164,205 | ) | (64,958 | ) | (16,722 | ) | (245,885 | ) | |||||||||
Balance as of December 30, 2012Â | 120,937 | 1,947 | 2,934 | 125,818 | |||||||||||||
Adjustment of Nashville NewsChannel 5 Network, LLC Goodwill | (1,447 | ) | - | - | (1,447 | ) | |||||||||||
Goodwill related to the purchase of a business | - | 331 | - | 331 | |||||||||||||
Goodwill | 283,695 | 67,236 | 19,656 | 370,587 | |||||||||||||
Accumulated impairment losses | (164,205 | ) | (64,958 | ) | (16,722 | ) | (245,885 | ) | |||||||||
Accumulated impairment loss adjustment for segment reporting | (30,731 | ) | 30,731 | - | - | ||||||||||||
Balance as of December 29, 2013Â | $ | 88,759 | $ | 33,009 | $ | 2,934 | $ | 124,702 |
ACQUISITIONS_AND_DIVESTITURES
ACQUISITIONS AND DIVESTITURES | 12 Months Ended | ||||||||
Dec. 29, 2013 | |||||||||
ACQUISITIONS AND DIVESTITURES [Abstract] | ' | ||||||||
ACQUISITIONS AND DIVESTITURES | ' | ||||||||
10 | ACQUISITIONS AND DIVESTITURES | ||||||||
2013 | |||||||||
On May 3, 2013, our radio business completed the asset purchase of 100.3 WNOX-FM (WNOX), licensed to Oak Ridge, Tennessee, in the Knoxville, Tennessee, market from Oak Ridge FM, Inc., for $5,955. We now own four radio stations in Knoxville, Tennessee. The goodwill of $331 arising from the acquisition is attributable to the synergies expected from aligning WNOX with our cluster of radio stations within the Knoxville market. | |||||||||
The estimated fair values of identifiable assets acquired and liabilities assumed for WNOX-FM at the acquisition date are as follows: | |||||||||
WNOX-FM | |||||||||
Knoxville, TN | |||||||||
Equipment | $ | 24 | |||||||
Goodwill | 331 | ||||||||
FCC licensses | 5,600 | ||||||||
Total purchase price | $ | 5,955 | |||||||
The WNOX-FM broadcast license expires in 2020. We expect to renew the license without issue. The goodwill and broadcast licenses which we acquired are not subject to amortization for financial reporting purposes, but are expected to be entirely deductible for income tax purposes. | |||||||||
The acquisition was accounted for using the purchase method. The operating results and cash flows of the acquired business are included in our consolidated financial statements from May 3, 2013, the effective date we acquired control of WNOX-FM. | |||||||||
On October 4, 2013, our television business, agreed to the sale of stations KMIR-TV and My 13 KPSE-TV in Palm Springs, California to OTA Broadcasting, LLC, an affiliate of Virginia based OTA Broadcasting, LLC for $17,000 in cash and certain other contingent considerations. The transaction closed effective January 1, 2014. We expect to record a pre-tax book gain of $10,200 in the first quarter of 2014. | |||||||||
2012 | |||||||||
On June 25, 2012, our radio business completed the asset purchase of KHTT-FM and KBEZ-FM in Tulsa, Oklahoma from Renda Broadcasting Corporation for $11,728 in cash. We now own five radio stations in Tulsa, Oklahoma. | |||||||||
The goodwill of $1,947 arising from the acquisition is attributable to the synergies expected from aligning our radio stations in a cluster within the Tulsa, Oklahoma market. The purchase of KTTT-FM and KBEZ-FM builds our existing Tulsa, Oklahoma cluster, and creates a strong group that will continue to serve our listeners, customers and the entire Tulsa, Oklahoma community, and enhances our scale in this existing market. This clustering strategy has allowed us to target our stations' formats and sales efforts to better serve advertisers and listeners as well as leverage operating expenses to maximize the performance of each station and the cluster. | |||||||||
The estimated fair values of identifiable assets acquired and liabilities assumed for KHTT-FM and KBEZ-FM at the acquisition date are as follows: | |||||||||
KHTT-FM and KBEZ-FM | |||||||||
Tulsa, OK | |||||||||
Property and equipment | $ | 181 | |||||||
Goodwill | 1,947 | ||||||||
Broadcast licenses | 9,600 | ||||||||
Total purchase price | $ | 11,728 | |||||||
The KBEZ-FM broadcast license expires in 2021. The KHTT-FM broadcast license renewal application was timely filed and remains pending. The current term was until 2013. We expect to renew both licenses without issue. The goodwill and broadcast licenses which we acquired are not subject to amortization for financial reporting purposes, but are expected to be entirely deductible for income tax purposes. | |||||||||
The acquisition was accounted for using the purchase method. The operating results and cash flows of the acquired business are included in our consolidated financial statements from March 26, 2012, the date we entered into the local marketing agreement with Renda Broadcasting Corporation. | |||||||||
We had an affiliation agreement with ACE TV, Inc. for the rights under a local marketing agreement for WACY-TV in Appleton, Wisconsin and to purchase certain assets of ACE TV, Inc. including the broadcast license of WACY-TV for a purchase price of $2,038. On October 22, 2012, we closed on the purchase of the remaining assets used in the operation of WACY-TV from ACE TV, Inc. See Note 8 "Variable Interest Entity." | |||||||||
On December 3, 2012, our radio business completed the sale of certain assets (including the FCC licenses) of WKTI-AM in Knoxville, Tennessee for $65. We recorded a pre-tax gain on the sale, net of transaction expenses, of $48. | |||||||||
On December 3, 2012, Journal Community Publishing Group, Inc., our community publications business, completed the sale of Hodag Buyers' Guide, North Star Journal, Merrill Foto News, Wausau Buyers' Guide, Stevens Point Buyers' Guide, Wood County Buyers' Guide, Waupaca Buyers' Guide, Waupaca County Post East, Waupaca County Post West, Clintonville Shoppers' Guide, New London Buyers' Guide, Silent Sports, Waupacanow.com, Merrillfotonews.com, Starjournalnow.com, Silentsports.net, Wibuyersguide.com and a single copy distribution network based in Rhinelander, WI for $1,200 in cash and a promissory note of $772. We recorded a pre-tax loss on the sale, net of transaction expenses, of $319. | |||||||||
On December 6, 2012, our television business completed the acquisition of NewsChannel 5 Network, LLC from a subsidiary of Landmark Media Enterprises, LLC in Nashville, Tennessee. The purchase price was $220,000 including a working capital adjustment of $5,000. | |||||||||
NewsChannel 5 Network, LLC contributed revenue of $2,917 and earnings from continuing operations before taxes of $1,730 for the period from December 7, 2012 to December 30, 2012. The following unaudited pro forma information presents the combined results of operations of Journal and NewsChannel 5 Network, LLC as if the acquisition of NewsChannel 5 Network, LLC had occurred on December 27, 2010: | |||||||||
2012 | 2011 | ||||||||
Pro Forma Results of Operations | |||||||||
Revenue | $ | 439,732 | $ | 399,313 | |||||
Earnings per share from continuing operations, diluted | $ | 0.71 | $ | 0.47 | |||||
The unaudited pro forma results reflect certain adjustments related to the acquisition, such as increased depreciation and amortization expense resulting from the fair valuation of assets acquired and the impact of financing the acquisition. The pro forma results exclude any planned revenue or cost synergies or other effects of the planned integration of NewsChannel 5 Network, LLC. The pro forma results are for comparative purposes only and may not be indicative of the results that would have occurred if we had completed this acquisition as of the periods shown above or the results that will be attained in the future. | |||||||||
The goodwill of $114,677 arising from the acquisition is attributable to significant tax deductions we expect to realize related to the step up in basis of certain assets that will provide cash tax savings and, to a lesser extent, certain revenue and cost synergies expected to be realized. | |||||||||
The fair values of identifiable assets acquired and liabilities assumed for NewsChannel 5 Network, LLC at the acquisition date are as follows: | |||||||||
NewsChannel 5 | |||||||||
Tangible assets | $ | 13,383 | |||||||
Long-term assets, other | 48 | ||||||||
Working capital | 8,292 | ||||||||
Network affiliation agreements | 43,500 | ||||||||
FCC licenses | 40,100 | ||||||||
Goodwill | 114,677 | ||||||||
Total purchase price | $ | 220,000 | |||||||
The goodwill and broadcast licenses which we acquired are not subject to amortization for financial reporting purposes, but are expected to be entirely deductible for income tax purposes. | |||||||||
Acquisition related costs with respect to the foregoing transactions were $2,152 and $3,145 for the fourth quarter ended and four quarters ended December 30, 2012, respectively, and are included in selling and administrative expenses in the condensed consolidated statements of operations. | |||||||||
The acquisition has been accounted for under the acquisition method of accounting which requires the total purchase price to be allocated to the assets acquired and liabilities assumed based on their estimated fair values. The excess purchase price over the amounts assigned to tangible and intangible assets acquired and liabilities assumed is recognized as goodwill. The operating results and cash flows of the acquired business are included in our consolidated financial statements from December 7, 2012, the effective date we acquired control of NewsChannel 5 Network, LLC. | |||||||||
2011 | |||||||||
In June 2011, Journal Community Publishing Group, Inc., our community publications business, completed the sale of Pelican Press and Pelican Press Marketplace businesses, which operated in Sarasota, Florida, for $502. We recorded a pre-tax gain on the sale, net of transaction expenses, of $245. In August 2011, Journal Community Publishing Group, Inc. completed the sale of the remaining Florida-based community publications businesses for aggregate consideration of $757. The publications and web-sites included Florida Mariner, Clay Today, Clay County Leader, Ponte Vedra Recorder, St. Augustine Underground, First Coast Register and Car Connection, and were distributed in the Clay, St. John's and Duval, Florida counties. We recorded a total pre-tax gain on the sales, net of transaction expenses, of $253. These sales allow us to focus our efforts on operating our Wisconsin-based community publications businesses. |
DISCONTINUED_OPERATIONS
DISCONTINUED OPERATIONS | 12 Months Ended | ||||||||||||
Dec. 29, 2013 | |||||||||||||
DISCONTINUED OPERATIONS [Abstract] | ' | ||||||||||||
DISCONTINUED OPERATIONS | ' | ||||||||||||
11 | DISCONTINUED OPERATIONS | ||||||||||||
KMIR-TV and My 13 KPSE-TV | |||||||||||||
On October 4, 2013, our television business agreed to the sale of stations KMIR-TV and My 13 KPSE-TV in Palm Springs, California to OTA Broadcasting, LLC, an affiliate of Virginia based OTA Broadcasting, LLC for $17,000 in cash and certain other contingent considerations. The transaction closed effective January 1, 2014. We expect to record a pre-tax book gain of $10,200 in the first quarter of 2014. | |||||||||||||
The following table summarizes Palm Spring's revenue and earnings before income taxes as reported in earnings (loss) from discontinued operations, net of applicable income taxes in the consolidated statements of operations for all periods presented: | |||||||||||||
Years ended December 29, December 30 and December 25 | 2013 | 2012 | 2011 | ||||||||||
Revenue | $ | 5,483 | $ | 6,924 | $ | 5,341 | |||||||
Earnings (loss) before income taxes | $ | (62 | ) | $ | 1,262 | $ | 240 | ||||||
The following table presents the aggregate carrying amounts of the major classes of assets divested: | |||||||||||||
Assets: | |||||||||||||
Cash and cash equivalents | $ | 1 | |||||||||||
Receivables, net | 1,149 | ||||||||||||
Prepaid expenses and other current assets | 11 | ||||||||||||
Program and barter rights | 620 | ||||||||||||
Deferred income taxes | 713 | ||||||||||||
Property and equipment, net | 1,852 | ||||||||||||
Network affiliations, net | 1,935 | ||||||||||||
Income tax receivable | 767 | ||||||||||||
Total assets | $ | 7,048 | |||||||||||
Liabilities: | |||||||||||||
Accounts payable | $ | 37 | |||||||||||
Accrued compensation | 133 | ||||||||||||
Deferred revenue | 57 | ||||||||||||
Syndicated programs | 640 | ||||||||||||
Other current liabilities | 18 | ||||||||||||
Total liabilities | $ | 885 | |||||||||||
NorthStar Print Group, Inc. | |||||||||||||
During 2005, Multi-Color Corporation (Multi-Color) acquired substantially all of the assets and certain liabilities of NorthStar Print Group, Inc. (NorthStar), our former label printing business. Certain liabilities were excluded from the sale of NorthStar and primarily consisted of environmental site closure costs for both the Green Bay, Wisconsin real estate and real estate located in Norway, Michigan. In January 2011, upon environmental site closure in Green Bay, Wisconsin, we sold the real estate holdings to Multi-Color according to the 2005 sale agreement. The net proceeds were $822 and we recorded a pre-tax gain of $610. We continue to have environmental site closure obligations with respect to the Norway, Michigan real estate, which was sold to Multi-Color in 2005. | |||||||||||||
The following table summarizes NorthStar's revenue and earnings before income taxes as reported in earnings (loss) from discontinued operations, net of applicable income taxes in the consolidated statements of operations for all periods presented: | |||||||||||||
Years ended December 29, December 30 and December 25 | 2013 | 2012 | 2011 | ||||||||||
Revenue | $ | - | $ | - | $ | - | |||||||
Earnings before income taxes | $ | - | $ | - | $ | 562 |
WORKFORCE_REDUCTION
WORKFORCE REDUCTION | 12 Months Ended | ||||||||||||||||
Dec. 29, 2013 | |||||||||||||||||
WORKFORCE REDUCTION [Abstract] | ' | ||||||||||||||||
WORKFORCE REDUCTION | ' | ||||||||||||||||
12 | WORKFORCE REDUCTION | ||||||||||||||||
During 2013, we recorded a pre-tax charge of $863 for workforce separation benefits across our television and publishing businesses. Of the costs recorded for the year ended December 29, 2013, $698 is included in publishing operating costs and expenses, and $165 is included in television selling and administrative expenses. We expect payments to be completed during the first half of 2014. In 2013, the number of full-time and part-time employees increased by approximately 5.2% compared to 2012. | |||||||||||||||||
Activity associated with workforce reductions during the years ended December 29, 2013 and December 30, 2012 was as follows: | |||||||||||||||||
Balance as of | Charge for | Payments for | Balance as of | ||||||||||||||
30-Dec-12 | Separation Benefits | Separation Benefits | 29-Dec-13 | ||||||||||||||
(dollars in millions) | |||||||||||||||||
Television | $ | - | $ | 56 | $ | (13 | ) | $ | 43 | ||||||||
Publishing | $ | 809 | 807 | (1,286 | ) | $ | 330 | ||||||||||
Total | $ | 809 | $ | 863 | $ | (1,299 | ) | $ | 373 | ||||||||
Balance as of | Charge for | Payments for | Balance as of | ||||||||||||||
25-Dec-11 | Separation Benefits | Separation Benefits | 30-Dec-12 | ||||||||||||||
(dollars in millions) | |||||||||||||||||
Publishing | $ | 1,780 | $ | 1,655 | $ | (2,626 | ) | $ | 809 | ||||||||
Total | $ | 1,780 | $ | 1,655 | $ | (2,626 | ) | $ | 809 |
RELATED_PARTY_TRANSACTIONS
RELATED PARTY TRANSACTIONS | 12 Months Ended | |
Dec. 29, 2013 | ||
RELATED PARTY TRANSACTIONS [Abstract] | ' | |
RELATED PARTY TRANSACTIONS | ' | |
13 | RELATED PARTY TRANSACTIONS | |
On August 13, 2012, we repurchased all 3,264 outstanding shares of our class C common stock, all of which were held by Matex Inc., members of the family of our former chairman Harry J. Grant, trusts for the benefit of members of the family, and Proteus Fund, Inc., a non-profit organization. Pursuant to the terms of the agreement, we paid $6,246 in cash and issued 15 unsecured subordinated promissory notes with an aggregate principal amount of $25,599. The notes bear interest at a rate of 7.25% per annum and interest is payable quarterly. Six of the subordinated notes, with an aggregate principal amount of approximately $9,664, were paid on September 21, 2012 for $1,340 and December 21, 2012 for $8,324. One of the subordinated notes, with an aggregate principal amount of $2,000, which was due on July 15, 2013, was also prepaid without premium or penalty on December 21, 2012. On September 30, 2013, we paid the first annual installment on the remaining eight subordinated notes. After giving effect to this $2,655 installment payment, the remaining aggregate principal amount of these eight subordinated notes is approximately $13,279. The remaining subordinated notes are payable in equal annual installments on September 30 of each of 2014, 2015, 2016, 2017 and 2018, with no prepayment right. Interest on the notes is payable quarterly. One of the remaining subordinated notes, with an original principal amount of $7,617, was issued to the Judith Abert Meissner Marital Trust, a beneficial owner of more than 5.00% of the issued and outstanding shares of our class B common stock. David G. Meissner, a former member of the Board, who did not stand for reelection to the Board of Directors at the 2013 Annual Meeting of Shareholders, is a beneficiary and trustee of this trust. An additional three of the remaining subordinated notes, with an original aggregate principal amount of $752, were originally issued to trusts for the benefit of Mr. Meissner's children in which Mr. Meissner serves or previously served as trustee. The cash for the repurchase to the Judith Abert Meissner Marital Trust and the trusts for the benefit of Mr. Meissner's children in which Mr. Meissner serves or previously served as trustee was $2,042. |
SEGMENT_REPORTING
SEGMENT REPORTING | 12 Months Ended | ||||||||||||
Dec. 29, 2013 | |||||||||||||
SEGMENT REPORTING [Abstract] | ' | ||||||||||||
SEGMENT REPORTING | ' | ||||||||||||
14 | SEGMENT REPORTING | ||||||||||||
Beginning in the first quarter of 2014, we made an organizational change to our leadership team in our broadcasting segment reflecting the focus on our two primary businesses: television and radio. As a result of this organizational change, we now have four reportable segments: television, radio, publishing and corporate. | |||||||||||||
Our business segments are based on the organizational structure used by management for making operating and investment decisions and for assessing performance. Our reportable business segments are: (i) television; (ii) radio; (iii) publishing and (iv) corporate. Our television segment consists of 14 television stations in 8 states that we own or provide services to. Our radio segment consists of 35 radio stations in 8 states. Our publishing segment consists of the Milwaukee Journal Sentinel, which serves as the only major daily newspaper for the Milwaukee metropolitan area, and several community publications in Wisconsin. Our corporate segment consists of unallocated corporate expenses and revenue eliminations. All segment related disclosures have been recast throughout these financial statements, where appropriate. | |||||||||||||
Our "Corporate" segment reflects unallocated costs primarily related to corporate executive management and corporate governance. | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Revenue | |||||||||||||
Television | $ | 166,616 | $ | 152,444 | $ | 110,372 | |||||||
Radio | 76,816 | 76,259 | 70,367 | ||||||||||
Publishing | 154,558 | 164,947 | 170,976 | ||||||||||
Corporate | (723 | ) | (532 | ) | (263 | ) | |||||||
$ | 397,267 | $ | 393,118 | $ | 351,452 | ||||||||
Operating earnings (loss) | |||||||||||||
Television | $ | 31,395 | $ | 41,005 | $ | 15,708 | |||||||
Radio | 14,017 | 13,962 | 15,053 | ||||||||||
Publishing | 13,778 | 11,622 | 15,901 | ||||||||||
Corporate | (7,874 | ) | (7,858 | ) | (7,120 | ) | |||||||
$ | 51,316 | $ | 58,731 | $ | 39,542 | ||||||||
Broadcast license impairment | |||||||||||||
Television | $ | - | $ | 664 | $ | 735 | |||||||
Radio | - | 952 | - | ||||||||||
Publishing | - | - | - | ||||||||||
Corporate | - | - | - | ||||||||||
$ | - | $ | 1,616 | $ | 735 | ||||||||
Depreciation and amortization | |||||||||||||
Television | $ | 13,192 | $ | 9,925 | $ | 9,424 | |||||||
Radio | 2,002 | 2,276 | 2,184 | ||||||||||
Publishing | 7,058 | 9,170 | 10,412 | ||||||||||
Corporate | 661 | 667 | 622 | ||||||||||
$ | 22,913 | $ | 22,038 | $ | 22,642 | ||||||||
Capital expenditures | |||||||||||||
Television | $ | 8,360 | $ | 8,656 | $ | 7,595 | |||||||
Radio | 1,508 | 1,663 | 865 | ||||||||||
Publishing | 2,498 | 1,240 | 987 | ||||||||||
Corporate | 74 | 746 | 1,143 | ||||||||||
$ | 12,440 | $ | 12,305 | $ | 10,590 | ||||||||
2013 | 2012 | ||||||||||||
Identifiable total assets | |||||||||||||
Television | $ | 356,032 | $ | 398,795 | |||||||||
Radio | 111,473 | 77,202 | |||||||||||
Publishing | 96,991 | 103,360 | |||||||||||
Corporate & discontinued operations | 31,522 | 46,446 | |||||||||||
$ | 596,018 | $ | 625,803 |
QUARTERLY_FINANCIAL_INFORMATIO
QUARTERLY FINANCIAL INFORMATION (UNAUDITED) | 12 Months Ended | ||||||||||||||||||||
Dec. 29, 2013 | |||||||||||||||||||||
QUARTERLY FINANCIAL INFORMATION (UNAUDITED) [Abstract] | ' | ||||||||||||||||||||
QUARTERLY FINANCIAL INFORMATION (UNAUDITED) | ' | ||||||||||||||||||||
15 | QUARTERLY FINANCIAL INFORMATION (UNAUDITED) | ||||||||||||||||||||
2013 | |||||||||||||||||||||
First | Second | Third | Fourth | Total | |||||||||||||||||
Revenue | $ | 93,204 | $ | 99,778 | $ | 96,919 | $ | 107,366 | $ | 397,267 | |||||||||||
Gross profit | 40,801 | 45,411 | 40,277 | 51,541 | 178,030 | ||||||||||||||||
Net earnings | 3,793 | 6,602 | 4,546 | 11,260 | 26,201 | ||||||||||||||||
Earnings per share | |||||||||||||||||||||
Basic - class A and B common stock | 0.08 | 0.13 | 0.09 | 0.22 | 0.52 | ||||||||||||||||
Diluted - class A and B common stock | 0.08 | 0.13 | 0.09 | 0.22 | 0.52 | ||||||||||||||||
2012 | |||||||||||||||||||||
First | Second | Third | Fourth | Total | |||||||||||||||||
Revenue | $ | 80,673 | $ | 94,068 | $ | 96,219 | $ | 122,158 | $ | 393,118 | |||||||||||
Gross profit | 33,013 | 45,573 | 43,906 | 65,377 | 187,869 | ||||||||||||||||
Net earnings | 2,919 | 7,611 | 7,698 | 15,097 | 33,325 | ||||||||||||||||
Earnings per share | |||||||||||||||||||||
Basic - class A and B common stock | 0.05 | 0.13 | 0.14 | 0.3 | 0.61 | ||||||||||||||||
Diluted - class A and B common stock | 0.05 | 0.13 | 0.14 | 0.3 | 0.61 | ||||||||||||||||
Basic and diluted - class C common stock | 0.19 | 0.28 | 0.15 | - | 0.74 | ||||||||||||||||
The first quarter of 2013 includes a pre-tax charge of $32 for separation benefits at our publishing business. The second quarter of 2013 includes a pre-tax charge of $716 for separation benefits at our television and publishing businesses. The third quarter of 2013 includes a pre-tax charge of $80 for separation benefits at our television and publishing businesses. The fourth quarter of 2013 includes a pre-tax charge of $35 for separation benefits at our television and publishing businesses. | |||||||||||||||||||||
The first quarter of 2012 includes a pre-tax charge of $38 for separation benefits at our publishing business. The second quarter of 2012 includes a pre-tax charge of $1,035 for separation benefits at our publishing business. The third quarter of 2012 includes a pre-tax charge of $553 for separation benefits at our publishing business and a pre-tax long-lived asset impairment charge of $493. The fourth quarter of 2012 includes a pre-tax broadcast license impairment charge of $664 and $952 for our television and radio businesses, respectively, a pre-tax loss of $319 on the sale of our northern Wisconsin community publications and a pre-tax charge of $29 for separation benefits at our publishing business. |
ACCUMULATED_OTHER_COMPREHENSIV
ACCUMULATED OTHER COMPREHENSIVE LOSS | 12 Months Ended | ||||||||
Dec. 29, 2013 | |||||||||
ACCUMULATED OTHER COMPREHENSIVE LOSS [Abstract] | ' | ||||||||
ACCUMULATED OTHER COMPREHENSIVE LOSS | ' | ||||||||
16 | ACCUMULATED OTHER COMPREHENSIVE LOSS | ||||||||
The changes in accumulated other comprehensive loss by component, net of tax, is as follows: | |||||||||
Defined Benefit | Total | ||||||||
Pension and | |||||||||
Postretirement | |||||||||
Plans | |||||||||
Balance as of December 30, 2012 | $ | (55,739 | ) | $ | (55,739 | ) | |||
Net actuarial gain and amounts reclassified from accumulated other comprehensive loss | 16,085 | 16,085 | |||||||
Net other comprehensive income (loss) | 16,085 | 16,085 | |||||||
Balance as of December 29, 2013 | $ | (39,654 | ) | $ | (39,654 | ) | |||
The reclassification of accumulated other comprehensive loss is as follows: | |||||||||
Amount Reclassified from | |||||||||
Accumulated Other | |||||||||
Comprehensive Loss | |||||||||
2013 | |||||||||
Amortization of defined benefit pension and postretirement plan items: | |||||||||
Prior service cost and unrecognized loss (1) | $ | (2,558 | ) | ||||||
Income tax expense | 10,176 | ||||||||
Net actuarial (Gain) | (23,703 | ) | |||||||
Total reclassifications | $ | (16,085 | ) | ||||||
-1 | These accumulated other comprehensive loss components are included in the computation of net periodic pension and postretirement cost. See Note 3 "Employee Benefit Plans" for more information. Of the costs for the year ended December 29, 2013, $263 is included in television operating costs and expenses, $176 is included in radio operating costs and expenses $1,163 is included in publishing operating costs and expenses, and $956 is included in selling and administrative expenses. |
SUBSEQUENT_EVENTS
SUBSEQUENT EVENTS | 12 Months Ended | |
Dec. 29, 2013 | ||
SUBSEQUENT EVENTS [Abstract] | ' | |
SUBSEQUENT EVENTS | ' | |
17 | SUBSEQUENT EVENTS | |
Effective January 1, 2014, our broadcasting business closed on the sale of television stations KMIR-TV and My 13 KPSE TV in Palm Springs, California to OTA Broadcasting, LLC, an affiliate of Virginia-based OTA Broadcasting, LLC, for $17,000 in cash and certain other contingent considerations. We expect to record a pre-tax book gain of $10,200 in the first quarter of 2014. | ||
On January 22, 2014, our broadcasting business changed its organizational structure to reflect the group's focus on its two primary businesses:Â Television and Radio. | ||
On July 30, 2014, we entered into an agreement with E.W. Scripps Company ("Scripps") to merge our broadcast operations and spin-off and then merge our newspaper businesses, creating two separately traded public companies. The merged broadcast and digital media company, based in Cincinnati, Ohio, will retain the Scripps name. The newspaper company will be called Journal Media Group and will combine Scripps' daily newspapers, community publications and related digital products in 13 markets with Journal Communications' Milwaukee Journal Sentinel, Wisconsin community publications and affiliated digital products. The company will be headquartered in Milwaukee, Wisconsin. | ||
In connection with the transactions, each share of our then outstanding class A and class B common stock will receive 0.5176 Scripps class A common shares and 0.1950 shares of Journal Media Group common stock, and each Scripps class A common share and common voting share then outstanding will receive 0.2500 shares of Journal Media Group common stock. Immediately following consummation of the transactions, holders of our common stock will own approximately 41.00% of the common shares of Journal Media Group and approximately 31.00% of the common shares of Scripps, in the form of Scripps class A common shares.  Scripps shareholders will retain approximately 69.00% ownership in Scripps, with the Scripps family retaining its controlling interest in Scripps through its ownership of common voting shares. Scripps shareholders will own approximately 59.00% of the common shares of Journal Media Group. Journal Media Group will have one class of stock and no controlling shareholder. | ||
Costs related to this transaction were $315 in the second quarter of 2014. | ||
The boards of directors of both companies have approved the transactions, which are subject to customary regulatory and shareholder approvals. The deal is expected to close in 2015. |
SIGNIFICANT_ACCOUNTING_POLICIE1
SIGNIFICANT ACCOUNTING POLICIES (Policies) | 12 Months Ended | ||||||||||||
Dec. 29, 2013 | |||||||||||||
SIGNIFICANT ACCOUNTING POLICIES [Abstract] | ' | ||||||||||||
Basis of presentation and consolidation | ' | ||||||||||||
Basis of presentation and consolidation—We report on a 52-53 week fiscal year ending on the last Sunday of December in each year. In addition, we have four quarterly reporting periods, each consisting of thirteen weeks and ending on a Sunday, provided that once every six years the fourth quarterly reporting period will be fourteen weeks. The fourth quarterly reporting period in our 2012 fiscal year consisted of fourteen weeks. | |||||||||||||
The consolidated financial statements include the accounts of Journal Communications, Inc. and its wholly owned subsidiaries. In 2012, we purchased the remaining noncontrolling interest associated with a variable interest entity (VIE) for which we were the primary beneficiary in accordance with U.S. generally accepted accounting principles and pursuant to the rules and regulations of the Securities and Exchange Commission. All significant intercompany balances and transactions have been eliminated. | |||||||||||||
Palm Springs television results of operations and the gain on the sale of NorthStar Print Group Inc.'s (NorthStar) real estate holdings in 2011 have been reflected as discontinued operations in our consolidated statements of operations. | |||||||||||||
Use of estimates | ' | ||||||||||||
Use of estimates—The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. | |||||||||||||
Revenue recognition | ' | ||||||||||||
Revenue recognition—Our principal sources of revenue are the sale of airtime on television and radio stations, the sale of advertising in newspapers and the sale of newspapers to individual subscribers and distributors. In addition, we sell advertising on our newspaper, television and radio websites and derive revenue from other online activities. Advertising revenue is recognized in the publishing, television and radio businesses when advertisements are published, aired or displayed, or when related advertising services are rendered. Newspaper advertising contracts, which generally have a term of one year or less, may provide rebates or discounts based upon the volume of advertising purchased during the terms of the contracts. Estimated rebates and discounts are recorded as a reduction of revenue in the period the advertisement is displayed. This requires us to make certain estimates regarding future advertising volumes. Estimates are based on various factors including historical experience and advertising sales trends. These estimates are revised as necessary based on actual volumes realized. Circulation revenue is recognized on a pro-rata basis over the term of the newspaper subscription or when the newspaper is delivered to the customer. Amounts we receive from customers in advance of revenue recognition are deferred as liabilities. Deferred revenue to be earned more than one year from the balance sheet date is included in other long-term liabilities in the consolidated balance sheets. | |||||||||||||
Printing revenue from external customers as well as third-party distribution revenue is recognized when the product is delivered in accordance with the customers' instructions. | |||||||||||||
We also derive revenues from retransmission of our television programs by MVPDs. Retransmission revenues from MVPDs are recognized based on average monthly subscriber counts and contractual rates over the terms of the agreements. | |||||||||||||
Multiple-deliverable revenue arrangements | ' | ||||||||||||
Multiple-deliverable revenue arrangements— We sell airtime on television and radio stations and online advertising bundled arrangements, where multiple products are involved. Significant deliverables within these arrangements include advertising on television and radio stations and advertising placed on various company websites, each of which are considered separate units of accounting. Our daily newspaper sells print and online advertising in bundled arrangements, where multiple products are involved. Significant deliverables within these arrangements include advertising in the printed daily newspaper and advertising placed on various company websites, each of which are considered separate units of accounting. There were no significant changes in units of accounting, the allocation process or the pattern and timing of revenue recognition upon adoption of the amended guidance related to revenue recognition for arrangements with multiple deliverables. | |||||||||||||
Shipping and handling costs | ' | ||||||||||||
Shipping and handling costs—Shipping and handling costs, including postage, billed to customers are included in revenue and the related costs are included in operating costs and expenses. | |||||||||||||
Advertising expense | ' | ||||||||||||
Advertising expense—We expense our advertising costs as incurred. Advertising expense totaled $6,645, $7,438 and $6,915 in 2013, 2012 and 2011, respectively. | |||||||||||||
Interest expense | ' | ||||||||||||
Interest expense—All interest incurred during the years ended December 29, 2013, December 30, 2012 and December 25, 2011 was expensed. | |||||||||||||
Income taxes | ' | ||||||||||||
Income taxes—Deferred taxes are provided for the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts for income tax purposes. Valuation allowances are established when management determines that it is more likely than not that some portion or all of a deferred tax asset will not be realized. | |||||||||||||
We recognize an uncertain tax position when it is more likely than not to be sustained upon examination by taxing authorities and we measure the tax benefit as the largest amount of benefit, determined on a cumulative probability basis, which is more likely than not to be realized upon ultimate settlement. | |||||||||||||
Fair values | ' | ||||||||||||
Fair values—The carrying amount of cash and cash equivalents, receivables, accounts payable, accrued severance and barter programming assets and liabilities approximates fair value as of December 29, 2013 and December 30, 2012. | |||||||||||||
Cash equivalents | ' | ||||||||||||
Cash equivalents—Cash equivalents are highly liquid investments with maturities of three months or less when purchased. Cash equivalents are stated at cost, which approximates market value. | |||||||||||||
Receivables, net | ' | ||||||||||||
Receivables, net— Our non-interest bearing accounts receivable arise primarily from the sale of advertising, commercial printing, commercial distribution and the retransmission of our television programs by MVPDs. We record accounts receivable at original invoice amounts. The accounts receivable balance is reduced by an estimated allowance for doubtful accounts. We evaluate the collectability of our accounts receivable based on a combination of factors. We specifically review historical write-off activity by market, large customer concentrations, customer creditworthiness and changes in our customer payment patterns and terms when evaluating the adequacy of the allowance for doubtful accounts. In circumstances where we are aware of a specific customer's inability to meet its financial obligations, we record a specific reserve to reduce the amounts recorded to what we believe will be collected. For all other customers, we recognize allowances for bad debts based on historical experience of bad debts as a percent of accounts receivable for each business unit. We write off uncollectible accounts against the allowance for doubtful accounts after collection efforts have been exhausted. The allowance for doubtful accounts at December 29, 2013 and December 30, 2012 was $1,688 and $2,377, respectively. | |||||||||||||
Concentration of credit risk | ' | ||||||||||||
Concentration of credit risk—Generally, credit is extended based upon an evaluation of the customer's financial position, and advance payment is not required. Credit losses are provided for in the financial statements and have been within management's expectations. Given the current economic environment, credit losses may increase in the future. | |||||||||||||
Inventories | ' | ||||||||||||
Inventories—Inventories are stated at the lower of cost (first in, first out method) or market. A summary of inventories follows: | |||||||||||||
2013 | 2012 | ||||||||||||
December 29 and December 30 | |||||||||||||
Paper and supplies | $ | 2,224 | $ | 2,950 | |||||||||
Work in process | 59 | 84 | |||||||||||
Less obsolescence reserve | (92 | ) | (90 | ) | |||||||||
Inventories, net | $ | 2,191 | $ | 2,944 | |||||||||
Television programming | ' | ||||||||||||
Television programming—We have agreements with distributors for the rights to television programming over contract periods, which generally run for one to five years. Each contract is recorded as an asset and a liability at an amount equal to its gross contractual commitment when the license period begins and the program is available for its first showing. The portion of program contracts that become payable within one year is reflected as a current liability in the accompanying consolidated balance sheets. The rights to program materials are carried at the lower of unamortized cost or estimated net realizable value or in the case of programming obtained by an acquisition, at estimated fair value. The cost for the rights of first-run and sports programming are recorded as the episodes and games are broadcast. We do not record an asset and liability for such rights when the license period begins because the programming is not available for broadcast. Certain of our agreements require us to provide barter advertising time to our distributors. Barter advertising revenue and expense was $7,210, $5,393 and $4,672 in 2013, 2012 and 2011, respectively. | |||||||||||||
Property and equipment | ' | ||||||||||||
Property and equipment—Property and equipment are recorded at cost. Depreciation of property and equipment is provided, using the straight-line method, over the estimated useful lives, which are as follows: | |||||||||||||
Years | |||||||||||||
Building and land improvements | 10 | ||||||||||||
Buildings | 30 | ||||||||||||
Newspaper printing presses | 25 | ||||||||||||
Broadcasting equipment | 20-May | ||||||||||||
Other printing presses | 10 | ||||||||||||
Other | 10-Mar | ||||||||||||
Depreciation expense totaled $20,058, $20,590 and $21,261 in 2013, 2012 and 2011, respectively. As of December 29, 2013, we have $160.5 million of net property and equipment secured by our credit facility. | |||||||||||||
Capital leases | ' | ||||||||||||
Capital leases—We charge amortization expense of assets recorded under capital leases to depreciation expense in our consolidated statements of operations and accumulated depreciation in our consolidated balance sheets. At December 29, 2013 we recorded $474 for capital leases in equipment, $162 in accumulated depreciation, $79 in current portion of long-term liabilities and $244 in other long-term liabilities in our consolidated balance sheet. At December 30, 2012 we recorded $1,834 for capital leases in equipment, $1,683 in accumulated depreciation, $54 in current portion of long-term liabilities and $113 in other long-term liabilities in our consolidated balance sheet. | |||||||||||||
Intangible assets | ' | ||||||||||||
Intangible assets—Indefinite-lived intangible assets, which consist of television and radio broadcast licenses and goodwill, are reviewed for impairment at least annually or more frequently if impairment indicators are present. We continue to amortize definite-lived intangible assets on a straight-line basis over periods of five to 25 years. The costs incurred to renew or extend the term of our television and radio broadcast licenses and certain customer relationships are expensed as incurred. See Note 9, "Goodwill, Broadcast Licenses and Other Intangible Assets," for additional disclosures on our intangible assets. | |||||||||||||
Notes receivable | ' | ||||||||||||
Notes receivable — We received a $450 secured note resulting from the sale of two radio stations in Boise, Idaho in September 2009. Interest-only payments were due monthly and the principal balance of the note was due on September 25, 2014. Principal payments totaling $50 were received in 2011 and 2010. At December 25, 2011, the note receivable was $400 and reported in other assets in the condensed consolidated balance sheets. In the third quarter of 2012, the remaining balance was paid. | |||||||||||||
In consideration for the sale of the Clearwater, Florida-based operations of PrimeNet in February 2010, we received a $700 promissory note repayable over four years and a $147 working capital note repayable over three years. At the time of the sale, we recorded receivables of $587 and $129, respectively, representing the fair value of the notes discounted at 6.785% and 9.08%, respectively. At December 25, 2011, the notes receivables balances were $433 and $51, respectively, and reported in receivables, net in the consolidated balance sheets. In 2012, both notes were paid in full. | |||||||||||||
In partial consideration for the sale of certain publishing assets of Journal Community Publishing Groups, Inc. in December 2012, we received a $772 promissory note bearing interest at 3% and repayable over three years. At the time of the sale, we recorded a $738 receivable representing the estimated fair value of the note discounted at 6.25%. These fair value measurements fall within Level 2 of the fair value hierarchy. The notes receivable balance at December 29, 2013 and December 30, 2012 was $524 and $772, respectively. | |||||||||||||
Interest income and the unamortized discount on our notes receivable are recorded using the effective interest method. | |||||||||||||
Impairment of long-lived assets | ' | ||||||||||||
Impairment of long-lived assets—Property and equipment and other definite-lived intangible assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. If an asset is considered impaired, a charge is recognized for the difference between the fair value and carrying value of the asset or group of assets. Such analyses necessarily involve significant judgment. In 2013 and 2012, we recorded property impairment charges of $238 and $368 at our radio segment representing the excess of indicated fair value over the carrying value of a building held for sale.  In 2012, our publishing segment recorded a building impairment charge of $125 representing the excess in indicated fair value over the carrying value of the assets held for sale. Fair value was determined pursuant to an accepted offer to sell the building or a broker's opinion of the value based upon similar assets in an inactive market. This fair value measurement is considered a level 3 measurement under the fair value hierarchy. | |||||||||||||
Share Repurchases | ' | ||||||||||||
Share Repurchases—Shares repurchased under our July 2011 share repurchase program remain authorized but unissued. The cost of the class A shares repurchased under the program was greater than par value and we recorded a charge to par value and additional paid in capital. On August 13, 2012, we repurchased all 3,264 outstanding shares of our class C common stock, including all rights associated with such shares of class C common stock. | |||||||||||||
Earnings per share | ' | ||||||||||||
Earnings per share | |||||||||||||
Basic | |||||||||||||
For all periods during which our class C common stock was issued and outstanding (see Note 2 "Notes Payable" regarding the Company's repurchase of all 3,264 shares of the Company's class C common stock issued and outstanding in August 2012), we apply the two-class method for calculating and presenting our basic earnings per share. As noted in the FASB's guidance for earnings per share, the two-class method is an earnings allocation formula that determines earnings per share for each class of common stock according to dividends declared (or accumulated) and participation rights in undistributed earnings. Under that method: | |||||||||||||
(a) | Income (loss) from continuing operations ("net earnings (loss)") is reduced by the amount of dividends declared in the current period for each class of stock and by the contractual amount of dividends that must be paid or accrued during the current period. | ||||||||||||
(b) | The remaining earnings, which may include earnings from discontinued operations ("undistributed earnings"), are allocated to each class of common stock to the extent that each class of stock may share in earnings if all of the earnings for the period were distributed. | ||||||||||||
(c) | The remaining losses ("undistributed losses") are allocated to the class A and B common stock. Undistributed losses are not allocated to the class C common stock and non-vested restricted stock because the class C common stock and the non-vested restricted stock are not contractually obligated to share in the losses. Losses from discontinued operations are allocated to class A and B common stock and may be allocated to class C common stock and non-vested restricted stock if there is undistributed earnings after deducting earnings distributed to class C common stock from income from continuing operations. | ||||||||||||
(d) | The total earnings (loss) allocated to each class of common stock are then divided by the number of weighted average shares outstanding of the class of common stock to which the earnings (loss) are allocated to determine the earnings (loss) per share for that class of common stock. | ||||||||||||
(e) | Basic earnings (loss) per share data are presented for class A and B common stock in the aggregate and for class C common stock. The basic earnings (loss) per share for class A and B common stock are the same; hence, these classes are reported together. | ||||||||||||
In applying the two-class method, we have determined that undistributed earnings should be allocated equally on a per share basis among each class of common stock due to the lack of any contractual participation rights of any class to those undistributed earnings. Undistributed losses are allocated to only the class A and B common stock for the reason stated above. | |||||||||||||
The following table sets forth the computation of basic earnings per share under the two-class method: | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Numerator for basic earnings from continuing operations for each class of common stock and non-vested restricted stock: | |||||||||||||
Earnings from continuing operations | $ | 26,250 | $ | 32,582 | $ | 21,713 | |||||||
Less dividends: | |||||||||||||
Class A and B | - | - | - | ||||||||||
Minimum class C | - | 1,146 | 1,854 | ||||||||||
Non-vested restricted stock | - | - | - | ||||||||||
Total undistributed earnings from continuing operations | $ | 26,250 | $ | 31,436 | $ | 19,859 | |||||||
Undistributed earnings from continuing operations: | |||||||||||||
Class A and B | $ | 26,250 | $ | 29,991 | $ | 18,423 | |||||||
Class C | - | 1,233 | 1,177 | ||||||||||
Non-vested restricted stock | - | 212 | 259 | ||||||||||
Total undistributed earnings from continuing operations | $ | 26,250 | $ | 31,436 | $ | 19,859 | |||||||
Numerator for basic earnings from continuing operations per class A and B common stock: | |||||||||||||
Minimum dividends on class A and B | $ | - | $ | - | $ | - | |||||||
Class A and B undistributed earnings | 26,250 | 29,991 | 18,423 | ||||||||||
Numerator for basic earnings from continuing operations per class A and B common stock | $ | 26,250 | $ | 29,991 | $ | 18,423 | |||||||
Numerator for basic earnings from continuing operations per class C common stock: | |||||||||||||
Minimum dividends on class C | $ | - | $ | 1,146 | $ | 1,854 | |||||||
Class C undistributed earnings | - | 1,233 | 1,177 | ||||||||||
Numerator for basic earnings from continuing operations per class C common stock | $ | - | $ | 2,379 | $ | 3,031 | |||||||
Denominator for basic earnings from continuing operations for each class of common stock: | |||||||||||||
Weighted average shares outstanding - | |||||||||||||
Class A and B | 50,259 | 50,091 | 51,088 | ||||||||||
Class C | - | 3,264 | -1 | 3,264 | |||||||||
Basic earnings per share from continuing operations: | |||||||||||||
Class A and B | $ | 0.52 | $ | 0.6 | $ | 0.36 | |||||||
Class C | $ | - | $ | 0.73 | $ | 0.93 | |||||||
-1 | The weighted average number of shares is calculated only for the period of time which the class C common stock was outstanding during the period, not the entire period. | ||||||||||||
2013 | 2012 | 2011 | |||||||||||
Numerator for basic earnings from discontinued operations for each class of common stock and non-vested restricted stock: | |||||||||||||
Total undistributed earnings from discontinued operations | $ | (49 | ) | $ | 743 | $ | 473 | ||||||
Undistributed earnings from discontinued operations: | |||||||||||||
Class A and B | (49 | ) | 709 | 439 | |||||||||
Class C | - | 29 | 28 | ||||||||||
Non-vested restricted stock | - | 5 | 6 | ||||||||||
Total undistributed earnings from discontinued operations | $ | (49 | ) | $ | 743 | $ | 473 | ||||||
Denominator for basic earnings from discontinued operations for each class of common stock: | |||||||||||||
Weighted average shares outstanding - | |||||||||||||
Class A and B | 50,259 | 50,091 | 51,088 | ||||||||||
Class C | - | 3,264 | -1 | 3,264 | |||||||||
Basic earnings per share from discontinued operations: | |||||||||||||
Class A and B | $ | - | $ | 0.01 | $ | 0.01 | |||||||
Class C | $ | - | $ | 0.01 | $ | 0.01 | |||||||
Numerator for basic net earnings for each class of common stock: | |||||||||||||
Net earnings | $ | 26,201 | $ | 33,325 | $ | 22,186 | |||||||
Less dividends: | |||||||||||||
Class A and B | - | - | - | ||||||||||
Minimum class C | - | 1,146 | 1,854 | ||||||||||
Non-vested restricted stock | - | - | - | ||||||||||
Total undistributed net earnings | $ | 26,201 | $ | 32,179 | $ | 20,332 | |||||||
Undistributed net earnings: | |||||||||||||
Class A and B | $ | 26,201 | $ | 30,701 | $ | 18,862 | |||||||
Class C | - | 1,261 | 1,206 | ||||||||||
Non-vested restricted stock | - | 217 | 264 | ||||||||||
Total undistributed net earnings | $ | 26,201 | $ | 32,179 | $ | 20,332 | |||||||
Numerator for basic net earnings per class A and B common stock: | |||||||||||||
Dividends on class A and B | $ | - | $ | - | $ | - | |||||||
Class A and B undistributed net earnings | 26,201 | 30,701 | 18,862 | ||||||||||
Numerator for basic net earnings per class A and B common stock | $ | 26,201 | $ | 30,701 | $ | 18,862 | |||||||
-1 | The weighted average number of shares is calculated only for the period of time which the class C common stock was outstanding during the period, not the entire period. | ||||||||||||
2013 | 2012 | 2011 | |||||||||||
Numerator for basic net earnings per class C common stock: | |||||||||||||
Minimum dividends on class C | $ | - | $ | 1,146 | $ | 1,854 | |||||||
Class C undistributed net earnings | - | 1,261 | 1,206 | ||||||||||
Numerator for basic net earnings per class C common stock | $ | - | $ | 2,407 | $ | 3,060 | |||||||
Denominator for basic net earnings for each class of common stock: | |||||||||||||
Weighted average shares outstanding - | |||||||||||||
Class A and B | 50,259 | 50,091 | 51,088 | ||||||||||
Class C | - | 3,264 | -1 | 3,264 | |||||||||
Basic net earnings per share: | |||||||||||||
Class A and B | $ | 0.52 | $ | 0.61 | $ | 0.37 | |||||||
Class C | $ | - | $ | 0.74 | $ | 0.94 | |||||||
-1 | The weighted average number of shares is calculated only for the period of time which the class C common stock was outstanding during the period, not the entire period. | ||||||||||||
Diluted | |||||||||||||
Diluted earnings per share is computed based upon the assumption that common shares are issued upon exercise of our stock appreciation rights when the exercise price is less than the average market price of our common shares and common shares will be outstanding upon expiration of the vesting periods for our non-vested restricted stock and performance-based restricted stock units. For the year ended December 29, 2013, 435 non-vested restricted class B common shares and performance-based restricted stock units are not included in the computation of diluted earnings per share because they are anti-dilutive. For the year ended December 30, 2012, 538 non-vested restricted class B common shares are not included in the computation of diluted earnings per share because they are anti-dilutive. The class C shares are not converted into class A and B shares because they are anti-dilutive for all periods presented, and therefore are not included in the diluted weighted average shares outstanding. | |||||||||||||
The following table sets forth the computation of diluted net earnings (loss) per share for class A and B common stock: | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Numerator for diluted net earnings per share: | |||||||||||||
Dividends on class A and B common stock | $ | - | $ | - | $ | - | |||||||
Total undistributed earnings from continuing operations | 26,250 | 29,991 | 18,424 | ||||||||||
Total undistributed earnings from discontinued operations | (49 | ) | 710 | 439 | |||||||||
Net earnings | $ | 26,201 | $ | 30,701 | $ | 18,863 | |||||||
Denominator for diluted net earnings per share: | |||||||||||||
Weighted average shares outstanding | 50,436 | 50,091 | 51,088 | ||||||||||
Diluted earnings per share: | |||||||||||||
Continuing operations | $ | 0.52 | $ | 0.6 | $ | 0.36 | |||||||
Discontinued operations | - | 0.01 | 0.01 | ||||||||||
Net earnings | $ | 0.52 | $ | 0.61 | $ | 0.37 | |||||||
Diluted earnings per share for the class C common stock is the same as basic earnings per share for the class C common stock because there are no class C common stock equivalents. | |||||||||||||
Prior to the repurchase of the class C common stock, each of the 3,264 class C shares outstanding was convertible at any time at the option of the holder into either (i) 1.363970 class A shares (or a total of 4,452 class A shares) or (ii) 0.248243 class A shares (or a total of 810 class A shares) and 1.115727 class B shares (or a total of 3,642 class B shares). | |||||||||||||
New accounting standards | ' | ||||||||||||
New accounting standards | |||||||||||||
In July 2013, the FASB issued guidance related to the presentation of an unrecognized tax benefit when a net operating loss carryforward, similar tax loss, or a tax credit carryforward exists. The new guidance clarifies that companies should present an unrecognized tax benefit as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss or a tax credit carryforward. This guidance is effective for fiscal years beginning after December 15, 2013, with early adoption permitted. We adopted this guidance in 2013. The adoption of this guidance did not impact our financial position or results of operations. | |||||||||||||
In February 2013, the FASB issued guidance related to items reclassified from accumulated other comprehensive income. The new guidance requires either in a single note or parenthetically on the face of the financial statements: (i) the effect of significant amounts reclassified from each component of accumulated other comprehensive income based on its source and (ii) the income statement line items affected by the reclassification. This guidance is effective for fiscal years beginning January 1, 2013 with early adoption permitted. We adopted this guidance in 2013. The adoption of this guidance did not impact our financial position or results of operations. |
SIGNIFICANT_ACCOUNTING_POLICIE2
SIGNIFICANT ACCOUNTING POLICIES (Tables) | 12 Months Ended | ||||||||||||
Dec. 29, 2013 | |||||||||||||
SIGNIFICANT ACCOUNTING POLICIES [Abstract] | ' | ||||||||||||
Summary of inventories | ' | ||||||||||||
Inventories are stated at the lower of cost (first in, first out method) or market. A summary of inventories follows: | |||||||||||||
2013 | 2012 | ||||||||||||
December 29 and December 30 | |||||||||||||
Paper and supplies | $ | 2,224 | $ | 2,950 | |||||||||
Work in process | 59 | 84 | |||||||||||
Less obsolescence reserve | (92 | ) | (90 | ) | |||||||||
Inventories, net | $ | 2,191 | $ | 2,944 | |||||||||
Property and equipment | ' | ||||||||||||
Property and equipment are recorded at cost. Depreciation of property and equipment is provided, using the straight-line method, over the estimated useful lives, which are as follows: | |||||||||||||
Years | |||||||||||||
Building and land improvements | 10 | ||||||||||||
Buildings | 30 | ||||||||||||
Newspaper printing presses | 25 | ||||||||||||
Broadcasting equipment | 20-May | ||||||||||||
Other printing presses | 10 | ||||||||||||
Other | 10-Mar | ||||||||||||
Computation of basic earnings per share | ' | ||||||||||||
The following table sets forth the computation of basic earnings per share under the two-class method: | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Numerator for basic earnings from continuing operations for each class of common stock and non-vested restricted stock: | |||||||||||||
Earnings from continuing operations | $ | 26,250 | $ | 32,582 | $ | 21,713 | |||||||
Less dividends: | |||||||||||||
Class A and B | - | - | - | ||||||||||
Minimum class C | - | 1,146 | 1,854 | ||||||||||
Non-vested restricted stock | - | - | - | ||||||||||
Total undistributed earnings from continuing operations | $ | 26,250 | $ | 31,436 | $ | 19,859 | |||||||
Undistributed earnings from continuing operations: | |||||||||||||
Class A and B | $ | 26,250 | $ | 29,991 | $ | 18,423 | |||||||
Class C | - | 1,233 | 1,177 | ||||||||||
Non-vested restricted stock | - | 212 | 259 | ||||||||||
Total undistributed earnings from continuing operations | $ | 26,250 | $ | 31,436 | $ | 19,859 | |||||||
Numerator for basic earnings from continuing operations per class A and B common stock: | |||||||||||||
Minimum dividends on class A and B | $ | - | $ | - | $ | - | |||||||
Class A and B undistributed earnings | 26,250 | 29,991 | 18,423 | ||||||||||
Numerator for basic earnings from continuing operations per class A and B common stock | $ | 26,250 | $ | 29,991 | $ | 18,423 | |||||||
Numerator for basic earnings from continuing operations per class C common stock: | |||||||||||||
Minimum dividends on class C | $ | - | $ | 1,146 | $ | 1,854 | |||||||
Class C undistributed earnings | - | 1,233 | 1,177 | ||||||||||
Numerator for basic earnings from continuing operations per class C common stock | $ | - | $ | 2,379 | $ | 3,031 | |||||||
Denominator for basic earnings from continuing operations for each class of common stock: | |||||||||||||
Weighted average shares outstanding - | |||||||||||||
Class A and B | 50,259 | 50,091 | 51,088 | ||||||||||
Class C | - | 3,264 | -1 | 3,264 | |||||||||
Basic earnings per share from continuing operations: | |||||||||||||
Class A and B | $ | 0.52 | $ | 0.6 | $ | 0.36 | |||||||
Class C | $ | - | $ | 0.73 | $ | 0.93 | |||||||
-1 | The weighted average number of shares is calculated only for the period of time which the class C common stock was outstanding during the period, not the entire period. | ||||||||||||
2013 | 2012 | 2011 | |||||||||||
Numerator for basic earnings from discontinued operations for each class of common stock and non-vested restricted stock: | |||||||||||||
Total undistributed earnings from discontinued operations | $ | (49 | ) | $ | 743 | $ | 473 | ||||||
Undistributed earnings from discontinued operations: | |||||||||||||
Class A and B | (49 | ) | 709 | 439 | |||||||||
Class C | - | 29 | 28 | ||||||||||
Non-vested restricted stock | - | 5 | 6 | ||||||||||
Total undistributed earnings from discontinued operations | $ | (49 | ) | $ | 743 | $ | 473 | ||||||
Denominator for basic earnings from discontinued operations for each class of common stock: | |||||||||||||
Weighted average shares outstanding - | |||||||||||||
Class A and B | 50,259 | 50,091 | 51,088 | ||||||||||
Class C | - | 3,264 | -1 | 3,264 | |||||||||
Basic earnings per share from discontinued operations: | |||||||||||||
Class A and B | $ | - | $ | 0.01 | $ | 0.01 | |||||||
Class C | $ | - | $ | 0.01 | $ | 0.01 | |||||||
Numerator for basic net earnings for each class of common stock: | |||||||||||||
Net earnings | $ | 26,201 | $ | 33,325 | $ | 22,186 | |||||||
Less dividends: | |||||||||||||
Class A and B | - | - | - | ||||||||||
Minimum class C | - | 1,146 | 1,854 | ||||||||||
Non-vested restricted stock | - | - | - | ||||||||||
Total undistributed net earnings | $ | 26,201 | $ | 32,179 | $ | 20,332 | |||||||
Undistributed net earnings: | |||||||||||||
Class A and B | $ | 26,201 | $ | 30,701 | $ | 18,862 | |||||||
Class C | - | 1,261 | 1,206 | ||||||||||
Non-vested restricted stock | - | 217 | 264 | ||||||||||
Total undistributed net earnings | $ | 26,201 | $ | 32,179 | $ | 20,332 | |||||||
Numerator for basic net earnings per class A and B common stock: | |||||||||||||
Dividends on class A and B | $ | - | $ | - | $ | - | |||||||
Class A and B undistributed net earnings | 26,201 | 30,701 | 18,862 | ||||||||||
Numerator for basic net earnings per class A and B common stock | $ | 26,201 | $ | 30,701 | $ | 18,862 | |||||||
-1 | The weighted average number of shares is calculated only for the period of time which the class C common stock was outstanding during the period, not the entire period. | ||||||||||||
2013 | 2012 | 2011 | |||||||||||
Numerator for basic net earnings per class C common stock: | |||||||||||||
Minimum dividends on class C | $ | - | $ | 1,146 | $ | 1,854 | |||||||
Class C undistributed net earnings | - | 1,261 | 1,206 | ||||||||||
Numerator for basic net earnings per class C common stock | $ | - | $ | 2,407 | $ | 3,060 | |||||||
Denominator for basic net earnings for each class of common stock: | |||||||||||||
Weighted average shares outstanding - | |||||||||||||
Class A and B | 50,259 | 50,091 | 51,088 | ||||||||||
Class C | - | 3,264 | -1 | 3,264 | |||||||||
Basic net earnings per share: | |||||||||||||
Class A and B | $ | 0.52 | $ | 0.61 | $ | 0.37 | |||||||
Class C | $ | - | $ | 0.74 | $ | 0.94 | |||||||
-1 | The weighted average number of shares is calculated only for the period of time which the class C common stock was outstanding during the period, not the entire period. | ||||||||||||
Computation of diluted net earnings (loss) per share | ' | ||||||||||||
The following table sets forth the computation of diluted net earnings (loss) per share for class A and B common stock: | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Numerator for diluted net earnings per share: | |||||||||||||
Dividends on class A and B common stock | $ | - | $ | - | $ | - | |||||||
Total undistributed earnings from continuing operations | 26,250 | 29,991 | 18,424 | ||||||||||
Total undistributed earnings from discontinued operations | (49 | ) | 710 | 439 | |||||||||
Net earnings | $ | 26,201 | $ | 30,701 | $ | 18,863 | |||||||
Denominator for diluted net earnings per share: | |||||||||||||
Weighted average shares outstanding | 50,436 | 50,091 | 51,088 | ||||||||||
Diluted earnings per share: | |||||||||||||
Continuing operations | $ | 0.52 | $ | 0.6 | $ | 0.36 | |||||||
Discontinued operations | - | 0.01 | 0.01 | ||||||||||
Net earnings | $ | 0.52 | $ | 0.61 | $ | 0.37 |
EMPLOYEE_BENEFIT_PLANS_Tables
EMPLOYEE BENEFIT PLANS (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 29, 2013 | |||||||||||||||||||||||||
EMPLOYEE BENEFIT PLANS [Abstract] | ' | ||||||||||||||||||||||||
Change in benefit obligations | ' | ||||||||||||||||||||||||
Other | |||||||||||||||||||||||||
Pension Benefits | Postretirement Benefits | ||||||||||||||||||||||||
Years ended December 29 and December 30 | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||
Change in benefit obligations | |||||||||||||||||||||||||
Benefit obligation at beginning of year | $ | 182,004 | $ | 171,028 | $ | 14,608 | $ | 17,274 | |||||||||||||||||
Service cost | - | - | 55 | 14 | |||||||||||||||||||||
Interest cost | 7,009 | 7,578 | 380 | 630 | |||||||||||||||||||||
Actuarial (gain) loss | (15,365 | ) | 12,322 | (277 | ) | (2,010 | ) | ||||||||||||||||||
Benefits paid | (9,156 | ) | (8,924 | ) | (1,669 | ) | (1,300 | ) | |||||||||||||||||
Benefit obligation at end of year | $ | 164,492 | $ | 182,004 | $ | 13,097 | $ | 14,608 | |||||||||||||||||
Change in plan assets | ' | ||||||||||||||||||||||||
Other | |||||||||||||||||||||||||
Pension Benefits | Postretirement Benefits | ||||||||||||||||||||||||
Years ended December 29 and December 30 | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||
Change in plan assets | |||||||||||||||||||||||||
Fair value of plan assets at beginning of year | $ | 102,602 | $ | 96,699 | $ | - | $ | - | |||||||||||||||||
Actual gain on plan assets | 15,386 | 11,672 | - | - | |||||||||||||||||||||
Company contributions | 3,114 | 3,155 | 1,669 | 1,300 | |||||||||||||||||||||
Benefits paid | (9,156 | ) | (8,924 | ) | (1,669 | ) | (1,300 | ) | |||||||||||||||||
Fair value of plan assets at end of year | $ | 111,946 | $ | 102,602 | $ | - | $ | - | |||||||||||||||||
Funded status | $ | (52,546 | ) | $ | (79,402 | ) | $ | (13,097 | ) | $ | (14,608 | ) | |||||||||||||
Amounts recognized in consolidated balance sheets | ' | ||||||||||||||||||||||||
Other | |||||||||||||||||||||||||
Pension Benefits | Postretirement Benefits | ||||||||||||||||||||||||
Years ended December 29 and December 30 | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||
Acounts recognized in consolidated balance sheets | |||||||||||||||||||||||||
Current liabilities | $ | (491 | ) | $ | (476 | ) | $ | (1,568 | ) | $ | (1,645 | ) | |||||||||||||
Noncurrent liabilities | (52,055 | ) | (78,926 | ) | (11,529 | ) | (12,963 | ) | |||||||||||||||||
Total | $ | (52,546 | ) | $ | (79,402 | ) | $ | (13,097 | ) | $ | (14,608 | ) | |||||||||||||
Amounts recognized in accumulated other comprehensive loss | ' | ||||||||||||||||||||||||
Pension Benefits | |||||||||||||||||||||||||
Actuarial | Prior | Deferred | |||||||||||||||||||||||
Loss | Service | Income | |||||||||||||||||||||||
(Gain), Net | Credit | Taxes | Total | ||||||||||||||||||||||
Amounts recognized in accumulated other comprehensive loss | |||||||||||||||||||||||||
As of December 30, 2012 | $ | 93,217 | $ | (48 | ) | $ | (37,052 | ) | $ | 56,117 | |||||||||||||||
Current year change | (26,213 | ) | 10 | 10,152 | (16,051 | ) | |||||||||||||||||||
As of December 29, 2013 | $ | 67,004 | $ | (38 | ) | $ | (26,900 | ) | $ | 40,066 | |||||||||||||||
Other Postretirement Benefits | |||||||||||||||||||||||||
Actuarial | Prior | Deferred | |||||||||||||||||||||||
Loss | Service | Income | |||||||||||||||||||||||
(Gain), Net | Credit | Taxes | Total | ||||||||||||||||||||||
Amounts recognized in accumulated other comprehensive loss | |||||||||||||||||||||||||
As of December 30, 2012 | $ | 183 | $ | (783 | ) | $ | 222 | $ | (378 | ) | |||||||||||||||
Current year change | (277 | ) | 219 | 24 | (34 | ) | |||||||||||||||||||
As of December 29, 2013 | $ | (94 | ) | $ | (564 | ) | $ | 246 | $ | (412 | ) | ||||||||||||||
Components of net periodic benefit cost | ' | ||||||||||||||||||||||||
Pension Benefits | |||||||||||||||||||||||||
Years ended December 29, December 30 and December 25 | 2013 | 2012 | 2011 | ||||||||||||||||||||||
Components of net periodic benefit cost | |||||||||||||||||||||||||
Service cost | $ | - | $ | - | $ | - | |||||||||||||||||||
Interest cost | 7,009 | 7,578 | 7,850 | ||||||||||||||||||||||
Expected return on plan assets | (7,325 | ) | (8,454 | ) | (9,594 | ) | |||||||||||||||||||
Amortization of: | |||||||||||||||||||||||||
Unrecognized prior service credit | (10 | ) | (10 | ) | (10 | ) | |||||||||||||||||||
Unrecognized net loss | 2,787 | 2,038 | 979 | ||||||||||||||||||||||
Net periodic benefit cost included in operating costs and expenses and selling and administrative expenses | $ | 2,461 | $ | 1,152 | $ | (775 | ) | ||||||||||||||||||
Other Postretirement Benefits | |||||||||||||||||||||||||
Years ended December 29, December 30 and December 25 | 2013 | 2012 | 2011 | ||||||||||||||||||||||
Components of net periodic benefit cost | |||||||||||||||||||||||||
Service cost | $ | 55 | $ | 14 | $ | 53 | |||||||||||||||||||
Interest cost | 380 | 630 | 827 | ||||||||||||||||||||||
Amortization of: | |||||||||||||||||||||||||
Unrecognized prior service credit | (219 | ) | (219 | ) | (219 | ) | |||||||||||||||||||
Unrecognized net transition obligation | - | 546 | 549 | ||||||||||||||||||||||
Unrecognized net loss | - | 188 | - | ||||||||||||||||||||||
Net periodic benefit cost included in selling and administrative expenses | $ | 216 | $ | 1,159 | $ | 1,210 | |||||||||||||||||||
Weighted-average assumptions used | ' | ||||||||||||||||||||||||
Weighted-average assumptions used to determine benefit obligations: | |||||||||||||||||||||||||
Other | |||||||||||||||||||||||||
Pension Benefits | Postretirement Benefits | ||||||||||||||||||||||||
December 29 and December 30 | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||
Discount rate | 4.75 | % | 3.95 | % | 3.55 | % | 2.75 | % | |||||||||||||||||
Rate of compensation increases | - | - | - | - | |||||||||||||||||||||
Weighted-average assumptions used to determine net periodic benefit cost: | |||||||||||||||||||||||||
Other | |||||||||||||||||||||||||
Pension Benefits | Postretirement Benefits | ||||||||||||||||||||||||
December 29, December 30 and December 25 | Â Â | 2013 | 2012 | 2011 | 2013 | 2012 | 2011 | ||||||||||||||||||
Discount rate | 3.95 | % | 4.55 | % | 5.35 | % | 2.75 | % | 3.85 | % | 4.95 | % | |||||||||||||
Expected return on plan assets | 7.25 | 7.75 | 8.25 | - | - | - | |||||||||||||||||||
Rate of compensation increases | - | - | - | - | - | - | |||||||||||||||||||
Effect of 1% change in assumed health care cost trend rates | ' | ||||||||||||||||||||||||
The assumed health care cost trend rate used in measuring the postretirement benefit obligation for retirees for 2013 is 9.00%, grading down to 5.00% in the year 2021 and thereafter. The assumed health care cost trend rates have a significant effect on the amounts reported for other postretirement benefits. A 1% change in the assumed health care cost trend rate would have the following effects: | |||||||||||||||||||||||||
1% | 1% | ||||||||||||||||||||||||
Increase | Decrease | ||||||||||||||||||||||||
Effect on total of service and interest cost components in 2013 | $ | 10 | $ | (9 | ) | ||||||||||||||||||||
Effect on postretirement benefit obligation as of December 29, 2013 | $ | 197 | $ | (191 | ) | ||||||||||||||||||||
Fair value of plan assets by level of the fair value hierarchy | ' | ||||||||||||||||||||||||
The following tables present the fair value of our plan assets by level of the fair value hierarchy. In accordance with the FASB's guidance for fair value measurements, level 1 inputs are quoted prices in active markets for identical assets; level 2 inputs are significant other observable inputs; and level 3 inputs are significant unobservable inputs. | |||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | |||||||||||||||||||||||
Inputs | Inputs | Inputs | Total | ||||||||||||||||||||||
29-Dec-13 | |||||||||||||||||||||||||
Mutual funds | 111,205 | - | - | 111,205 | |||||||||||||||||||||
Money-market fund | - | 740 | - | 740 | |||||||||||||||||||||
Fair value of plan assets | $ | 111,205 | $ | 740 | $ | - | $ | 111,945 | |||||||||||||||||
Level 1 | Level 2 | Level 3 | |||||||||||||||||||||||
Inputs | Inputs | Inputs | Total | ||||||||||||||||||||||
30-Dec-12 | |||||||||||||||||||||||||
Cash | $ | 715 | $ | - | $ | - | $ | 715 | |||||||||||||||||
Mutual funds | 89,430 | - | - | 89,430 | |||||||||||||||||||||
Money-market fund | - | 7 | - | 7 | |||||||||||||||||||||
Collective trust fund | - | 12,450 | - | 12,450 | |||||||||||||||||||||
Fair value of plan assets | $ | 90,145 | $ | 12,457 | $ | - | $ | 102,602 | |||||||||||||||||
Pension plan weighted average asset allocations | ' | ||||||||||||||||||||||||
Our pension plan weighted average asset allocations at December 29, 2013 and December 30, 2012 by asset category are as follows: | |||||||||||||||||||||||||
Plan Assets | |||||||||||||||||||||||||
December 29 and December 30 | 2013 | 2012 | |||||||||||||||||||||||
Equity securities | 42.2 | % | 65.2 | % | |||||||||||||||||||||
Fixed-income securities | 57.2 | 34.9 | |||||||||||||||||||||||
Other | 0.6 | (0.1 | ) | ||||||||||||||||||||||
Total | 100 | % | 100 | % | |||||||||||||||||||||
Percent of total portfolio | ' | ||||||||||||||||||||||||
To achieve an appropriate level of expected return, value-added potential, and risk, we adopted the following target allocations within the return-seeking segment: | |||||||||||||||||||||||||
Percent of Return-Seeking Portfolio | |||||||||||||||||||||||||
Target | |||||||||||||||||||||||||
U.S. Equity | 33 | % | |||||||||||||||||||||||
Non-U.S. Equity (Developed and Emerging Markets) | 33 | ||||||||||||||||||||||||
Global Equity | 34 | ||||||||||||||||||||||||
Expected benefit payments | ' | ||||||||||||||||||||||||
The following benefit payments, which reflect expected future service, as appropriate, are expected to be paid with future contributions to the plan or directly from plan assets, as follows: | |||||||||||||||||||||||||
Other | |||||||||||||||||||||||||
Pension | Postretirement | ||||||||||||||||||||||||
Benefits | Benefits | ||||||||||||||||||||||||
2014 | $ | 9,399 | $ | 1,568 | |||||||||||||||||||||
2015 | 9,669 | 1,545 | |||||||||||||||||||||||
2016 | 9,869 | 1,509 | |||||||||||||||||||||||
2017 | 10,015 | 1,524 | |||||||||||||||||||||||
2018 | 10,142 | 1,485 | |||||||||||||||||||||||
2019-2023 | 52,740 | 5,241 |
INCOME_TAXES_Tables
INCOME TAXES (Tables) | 12 Months Ended | ||||||||||||
Dec. 29, 2013 | |||||||||||||
INCOME TAXES [Abstract] | ' | ||||||||||||
Components of the provision (benefit) for income taxes | ' | ||||||||||||
The components of the provision (benefit) for income taxes consist of the following: | |||||||||||||
Years ended December 29, December 30 and December 25 | 2013 | 2012 | 2011 | ||||||||||
Continuing operations | |||||||||||||
Current: | |||||||||||||
Federal | $ | 3,864 | $ | 5,290 | $ | 2,169 | |||||||
State | 867 | 294 | 1,069 | ||||||||||
Total current | 4,731 | 5,584 | 3,238 | ||||||||||
Deferred: | |||||||||||||
Federal | 10,438 | 12,828 | 9,575 | ||||||||||
State | 2,003 | 3,276 | 1,491 | ||||||||||
Total deferred | 12,441 | 16,104 | 11,066 | ||||||||||
Total provision for income taxes for continuing operations | $ | 17,172 | $ | 21,688 | $ | 14,304 | |||||||
Discontinued operations | |||||||||||||
Current: | |||||||||||||
Federal | $ | (649 | ) | $ | (210 | ) | $ | (412 | ) | ||||
State | (118 | ) | (11 | ) | (74 | ) | |||||||
Total current | (767 | ) | (221 | ) | (486 | ) | |||||||
Deferred: | |||||||||||||
Federal | 628 | 617 | 671 | ||||||||||
State | 126 | 122 | 144 | ||||||||||
Total deferred | 754 | 739 | 815 | ||||||||||
Total provision (benefit) for income taxes for discontinued operations | $ | (13 | ) | $ | 518 | $ | 329 | ||||||
Federal income tax rates and the effective income tax (benefit) rates | ' | ||||||||||||
The significant differences between the statutory federal income tax rates and the effective income tax rates are as follows: | |||||||||||||
Years ended December 29, December 30 and December 25 | 2013 | 2012 | 2011 | ||||||||||
Statutory federal income tax rate | 35 | % | 35 | % | 35 | % | |||||||
State income taxes, net of federal tax benefit | 4.5 | 5 | 5.1 | ||||||||||
Other | 0.1 | - | (0.4 | ) | |||||||||
Effective income tax (benefit) rate | 39.6 | % | 40 | % | 39.7 | % | |||||||
Schedule of deferred tax assets and liabilities | ' | ||||||||||||
Temporary differences that give rise to the deferred tax assets and liabilities at December 29, 2013 and December 30, 2012 are as follows: | |||||||||||||
2013 | 2012 | ||||||||||||
Current assets | |||||||||||||
Receivables | $ | 388 | $ | 720 | |||||||||
Inventories | 33 | 32 | |||||||||||
Other assets | 676 | 668 | |||||||||||
Accrued compensation | 549 | 731 | |||||||||||
Accrued employee benefits | 930 | 998 | |||||||||||
Total current deferred tax assets | 2,576 | 3,149 | |||||||||||
Current liabitites | |||||||||||||
Accrued state taxes | (68 | ) | (117 | ) | |||||||||
Total current deferred tax liability | (68 | ) | (117 | ) | |||||||||
Total net current deferred tax assets | $ | 2,508 | $ | 3,032 | |||||||||
Non-current assets | |||||||||||||
Accrued employee benefits | $ | 24,530 | $ | 34,445 | |||||||||
State deferred income taxes | 2,251 | 4,502 | |||||||||||
State net operating loss | 2,192 | 2,122 | |||||||||||
Intangible assets | 9,813 | 19,989 | |||||||||||
Other assets | 484 | 278 | |||||||||||
Total non-current deferred tax assets | 39,270 | 61,336 | |||||||||||
Non-current liabilities | |||||||||||||
Property and equipment | (18,584 | ) | (19,468 | ) | |||||||||
Valuation allowances | (184 | ) | (199 | ) | |||||||||
Other liabilities | (377 | ) | (96 | ) | |||||||||
Total non-current deferred tax assets | (19,145 | ) | (19,763 | ) | |||||||||
Total net non-current deferred tax assets | $ | 20,125 | $ | 41,573 | |||||||||
Activity related to unrecognized tax benefits | ' | ||||||||||||
The following table summarizes the activity related to our unrecognized tax benefits during 2013, 2012 and 2011: | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Beginning balance | $ | 762 | $ | 885 | $ | 913 | |||||||
Increases due to prior year tax provisions | - | - | 14 | ||||||||||
Decreases related to prior year tax provisions | - | - | (10 | ) | |||||||||
Decreases due to the expiration of statutes of limitations | (8 | ) | (7 | ) | (32 | ) | |||||||
Decreases due to settlements | (27 | ) | (116 | ) | - | ||||||||
Ending Balance | $ | 727 | $ | 762 | $ | 885 |
COMMITMENTS_AND_CONTINGENCIES_
COMMITMENTS AND CONTINGENCIES (Tables) | 12 Months Ended | ||||
Dec. 29, 2013 | |||||
COMMITMENTS AND CONTINGENCIES [Abstract] | ' | ||||
Future minimum rental payments due under noncancellable operating lease agreements | ' | ||||
As of December 29, 2013, our future minimum rental payments due under noncancellable operating lease agreements consist of the following: | |||||
Due In | |||||
Fiscal Year | |||||
2014 | $ | 2,433 | |||
2015 | 1,709 | ||||
2016 | 1,127 | ||||
2017 | 1,024 | ||||
2018 | 501 | ||||
Thereafter | 1,857 | ||||
$ | 8,651 | ||||
Future minimum rental payments due under capital lease agreements | ' | ||||
Our publishing businesses lease delivery trucks accounted for as capital leases. As of December 29, 2013, our future minimum rental payments due under capital lease agreements consist of the following: | |||||
Due In | |||||
Fiscal Year | |||||
2014 | $ | 79 | |||
2015 | 82 | ||||
2016 | 57 | ||||
2017 | 37 | ||||
2018 | 38 | ||||
Thereafter | 30 | ||||
$ | 323 |
SHAREHOLDERS_EQUITY_Tables
SHAREHOLDERS' EQUITY (Tables) | 12 Months Ended | ||||||||||||
Dec. 29, 2013 | |||||||||||||
SHAREHOLDERS' EQUITY [Abstract] | ' | ||||||||||||
Changes in the number of shares of our common stock | ' | ||||||||||||
The changes in the number of shares of our common stock (excluding Treasury stock) during 2013, 2012 and 2011 are as follows (in thousands): | |||||||||||||
Common Stock | |||||||||||||
Class C | Class B | Class A | |||||||||||
Balance at December 26, 2010 | 3,264 | 8,595 | 43,196 | ||||||||||
Conversion of class B shares to class A shares | - | (1,683 | ) | 1,683 | |||||||||
Shares repurchased | - | - | (1,100 | ) | |||||||||
Shares issued under equity incentive and employee stock purchase plans | - | 302 | - | ||||||||||
Balance at December 25, 2011 | 3,264 | 7,214 | 43,779 | ||||||||||
Conversion of class B shares to class A shares | - | (682 | ) | 682 | |||||||||
Shares repurchased | (3,264 | ) | (710 | ) | |||||||||
Shares issued under equity incentive and employee stock purchase plans | - | 374 | - | ||||||||||
Balance at December 30, 2012 | - | 6,906 | 43,751 | ||||||||||
Conversion of class B shares to class A shares | - | (919 | ) | 919 | |||||||||
Shares repurchased | - | - | - | ||||||||||
Shares issued under equity incentive and employee stock purchase plans | - | 147 | - | ||||||||||
Balance at December 29, 2013 | - | 6,134 | 44,670 |
STOCKBASED_COMPENSATION_Tables
STOCK-BASED COMPENSATION (Tables) | 12 Months Ended | ||||||||||||
Dec. 29, 2013 | |||||||||||||
STOCK-BASED COMPENSATION [Abstract] | ' | ||||||||||||
Summary of non-vested restricted stock grant activity | ' | ||||||||||||
A summary of stock grant activity during 2013 is: | |||||||||||||
Weighted | |||||||||||||
Average Grant | |||||||||||||
Shares | Date Fair Value | ||||||||||||
Non-vested at December 30, 2012 | 538 | $ | 5.3 | ||||||||||
Granted | 228 | 6.42 | |||||||||||
Vested | (319 | ) | 5.34 | ||||||||||
Forfeited | (12 | ) | 5.56 | ||||||||||
Non-vested at December 29, 2013 | 435 | $ | 5.85 | ||||||||||
Summary of performance units stock grant activity | ' | ||||||||||||
A summary of stock grant activity during 2013 is: | |||||||||||||
Weighted Average | |||||||||||||
Grant Date | |||||||||||||
Shares | Fair Value | ||||||||||||
Non-vested at December 30, 2012 | 77 | $ | 5.59 | ||||||||||
Granted | 74 | 6.33 | |||||||||||
Vested | - | - | |||||||||||
Forfeited | - | - | |||||||||||
Non-vested at September 29, 2013 | 151 | 5.95 | |||||||||||
Summary of SAR activity | ' | ||||||||||||
A summary of SAR activity during 2013 is: | |||||||||||||
Weighted Average | |||||||||||||
Contractual Term | |||||||||||||
Weighted Average | Remaining | ||||||||||||
SARS | Exercise Price | (years) | |||||||||||
Outstanding and exercisable at December 30, 2012 | 1,083 | $ | 11.26 | 4.6 | |||||||||
Granted | - | ||||||||||||
Exercised | (341 | ) | 7.57 | ||||||||||
Forfeited | - | ||||||||||||
Expired | - | ||||||||||||
Outstanding and exercisable at December 29, 2013 | 742 | $ | 13.3 | 3.9 |
GOODWILL_BROADCAST_LICENSES_AN1
GOODWILL, BROADCAST LICENSES AND OTHER INTANGIBLE ASSETS (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 29, 2013 | |||||||||||||||||
GOODWILL, BROADCAST LICENSES AND OTHER INTANGIBLE ASSETS [Abstract] | ' | ||||||||||||||||
Gross carrying amount, accumulated amortization and net carrying amount of the major classes of definite-lived intangible assets | ' | ||||||||||||||||
The gross carrying amount, accumulated amortization and net carrying amount of the major classes of definite-lived intangible assets as of December 29, 2013 and December 30, 2012 is as follows: | |||||||||||||||||
Gross | Net | ||||||||||||||||
Carrying | Accumulated | Carrying | |||||||||||||||
Amount | Amortization | Amount | |||||||||||||||
29-Dec-13 | |||||||||||||||||
Network affiliation agreements | $ | 66,078 | $ | (9,905 | ) | $ | 56,173 | ||||||||||
Customer lists | 4,149 | (3,661 | ) | 488 | |||||||||||||
Non-compete agreements | 8,510 | (8,510 | ) | - | |||||||||||||
Other | 2,726 | (1,624 | ) | 1,102 | |||||||||||||
Total | $ | 81,463 | $ | (23,700 | ) | $ | 57,763 | ||||||||||
30-Dec-12 | |||||||||||||||||
Network affiliation agreements | $ | 66,078 | $ | (7,261 | ) | $ | 58,817 | ||||||||||
Customer lists | 4,149 | (3,525 | ) | 624 | |||||||||||||
Non-compete agreements | 8,510 | (8,501 | ) | 9 | |||||||||||||
Other | 2,726 | (1,558 | ) | 1,168 | |||||||||||||
Total | $ | 81,463 | $ | (20,845 | ) | $ | 60,618 | ||||||||||
Weighted average amortization period | ' | ||||||||||||||||
During 2012, our community publications business reporting unit sold all but two of its northern Wisconsin publications. As part of the transactions, we wrote off customer lists, non-compete agreements and other intangible assets with a net carrying amount of $390. | |||||||||||||||||
Weighted-average amortization period: | Years | ||||||||||||||||
Network affiliation agreements | 25 | ||||||||||||||||
Customer lists | 9 | ||||||||||||||||
Non-compete agreements | 5 | ||||||||||||||||
Other | 16 | ||||||||||||||||
Changes in the carrying amount of goodwill by reporting segment | ' | ||||||||||||||||
The changes in the carrying amount of goodwill by reporting segment during the years ended December 29, 2013 and December 30, 2012 are as follows: | |||||||||||||||||
  | Television | Radio | Publishing | Total | |||||||||||||
Goodwill | $ | 169,018 | $ | 64,958 | $ | 20,579 | $ | 254,555 | |||||||||
Accumulated impairment losses | (164,205 | ) | (64,958 | ) | (16,722 | ) | (245,885 | ) | |||||||||
Balance as of December 25, 2011Â | 4,813 | - | 3,857 | 8,670 | |||||||||||||
Goodwill related to the sale of a business | - | - | (923 | ) | (923 | ) | |||||||||||
Goodwill related to the purchase of a business | 116,124 | 1,947 | - | 118,071 | |||||||||||||
Goodwill | 285,142 | 66,905 | 19,656 | 371,703 | |||||||||||||
Accumulated impairment losses | (164,205 | ) | (64,958 | ) | (16,722 | ) | (245,885 | ) | |||||||||
Balance as of December 30, 2012Â | 120,937 | 1,947 | 2,934 | 125,818 | |||||||||||||
Adjustment of Nashville NewsChannel 5 Network, LLC Goodwill | (1,447 | ) | - | - | (1,447 | ) | |||||||||||
Goodwill related to the purchase of a business | - | 331 | - | 331 | |||||||||||||
Goodwill | 283,695 | 67,236 | 19,656 | 370,587 | |||||||||||||
Accumulated impairment losses | (164,205 | ) | (64,958 | ) | (16,722 | ) | (245,885 | ) | |||||||||
Accumulated impairment loss adjustment for segment reporting | (30,731 | ) | 30,731 | - | - | ||||||||||||
Balance as of December 29, 2013Â | $ | 88,759 | $ | 33,009 | $ | 2,934 | $ | 124,702 |
ACQUISITIONS_AND_DIVESTITURES_
ACQUISITIONS AND DIVESTITURES (Tables) | 12 Months Ended | ||||||||
Dec. 29, 2013 | |||||||||
Business Acquisition [Line Items] | ' | ||||||||
Schedule of pro forma information | ' | ||||||||
2012 | 2011 | ||||||||
Pro Forma Results of Operations | |||||||||
Revenue | $ | 439,732 | $ | 399,313 | |||||
Earnings per share from continuing operations, diluted | $ | 0.71 | $ | 0.47 | |||||
KHTT-FM and KBEZ-FM [Member] | ' | ||||||||
Business Acquisition [Line Items] | ' | ||||||||
Recognized Identified Assets Acquired and Liabilities Assumed | ' | ||||||||
The estimated fair values of identifiable assets acquired and liabilities assumed for KHTT-FM and KBEZ-FM at the acquisition date are as follows: | |||||||||
KHTT-FM and KBEZ-FM | |||||||||
Tulsa, OK | |||||||||
Property and equipment | $ | 181 | |||||||
Goodwill | 1,947 | ||||||||
Broadcast licenses | 9,600 | ||||||||
Total purchase price | $ | 11,728 | |||||||
NewsChannel 5 Network, LLC [Member] | ' | ||||||||
Business Acquisition [Line Items] | ' | ||||||||
Recognized Identified Assets Acquired and Liabilities Assumed | ' | ||||||||
The fair values of identifiable assets acquired and liabilities assumed for NewsChannel 5 Network, LLC at the acquisition date are as follows: | |||||||||
NewsChannel 5 | |||||||||
Tangible assets | $ | 13,383 | |||||||
Long-term assets, other | 48 | ||||||||
Working capital | 8,292 | ||||||||
Network affiliation agreements | 43,500 | ||||||||
FCC licenses | 40,100 | ||||||||
Goodwill | 114,677 | ||||||||
Total purchase price | $ | 220,000 | |||||||
WNOX-FM Knoxville, TN [Member] | ' | ||||||||
Business Acquisition [Line Items] | ' | ||||||||
Recognized Identified Assets Acquired and Liabilities Assumed | ' | ||||||||
The estimated fair values of identifiable assets acquired and liabilities assumed for WNOX-FM at the acquisition date are as follows: | |||||||||
WNOX-FM | |||||||||
Knoxville, TN | |||||||||
Equipment | $ | 24 | |||||||
Goodwill | 331 | ||||||||
FCC licensses | 5,600 | ||||||||
Total purchase price | $ | 5,955 |
DISCONTINUED_OPERATIONS_Tables
DISCONTINUED OPERATIONS (Tables) | 12 Months Ended | ||||||||||||
Dec. 29, 2013 | |||||||||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ' | ||||||||||||
Revenue and earnings before income taxes as reported in earnings (loss) from discontinued operations, net of applicable income taxes in the consolidated statement of operations | ' | ||||||||||||
The following table summarizes Palm Spring's revenue and earnings before income taxes as reported in earnings (loss) from discontinued operations, net of applicable income taxes in the consolidated statements of operations for all periods presented: | |||||||||||||
Years ended December 29, December 30 and December 25 | 2013 | 2012 | 2011 | ||||||||||
Revenue | $ | 5,483 | $ | 6,924 | $ | 5,341 | |||||||
Earnings (loss) before income taxes | $ | (62 | ) | $ | 1,262 | $ | 240 | ||||||
The following table presents the aggregate carrying amounts of the major classes of assets divested: | |||||||||||||
Assets: | |||||||||||||
Cash and cash equivalents | $ | 1 | |||||||||||
Receivables, net | 1,149 | ||||||||||||
Prepaid expenses and other current assets | 11 | ||||||||||||
Program and barter rights | 620 | ||||||||||||
Deferred income taxes | 713 | ||||||||||||
Property and equipment, net | 1,852 | ||||||||||||
Network affiliations, net | 1,935 | ||||||||||||
Income tax receivable | 767 | ||||||||||||
Total assets | $ | 7,048 | |||||||||||
Liabilities: | |||||||||||||
Accounts payable | $ | 37 | |||||||||||
Accrued compensation | 133 | ||||||||||||
Deferred revenue | 57 | ||||||||||||
Syndicated programs | 640 | ||||||||||||
Other current liabilities | 18 | ||||||||||||
Total liabilities | $ | 885 | |||||||||||
NorthStar Print Group, Inc. [Member] | ' | ||||||||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ' | ||||||||||||
Revenue and earnings before income taxes as reported in earnings (loss) from discontinued operations, net of applicable income taxes in the consolidated statement of operations | ' | ||||||||||||
The following table summarizes NorthStar's revenue and earnings before income taxes as reported in earnings (loss) from discontinued operations, net of applicable income taxes in the consolidated statements of operations for all periods presented: | |||||||||||||
Years ended December 29, December 30 and December 25 | 2013 | 2012 | 2011 | ||||||||||
Revenue | $ | - | $ | - | $ | - | |||||||
Earnings before income taxes | $ | - | $ | - | $ | 562 |
WORKFORCE_REDUCTION_Tables
WORKFORCE REDUCTION (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 29, 2013 | |||||||||||||||||
WORKFORCE REDUCTION [Abstract] | ' | ||||||||||||||||
Activity associated with workforce reductions | ' | ||||||||||||||||
Activity associated with workforce reductions during the years ended December 29, 2013 and December 30, 2012 was as follows: | |||||||||||||||||
Balance as of | Charge for | Payments for | Balance as of | ||||||||||||||
30-Dec-12 | Separation Benefits | Separation Benefits | 29-Dec-13 | ||||||||||||||
(dollars in millions) | |||||||||||||||||
Television | $ | - | $ | 56 | $ | (13 | ) | $ | 43 | ||||||||
Publishing | $ | 809 | 807 | (1,286 | ) | $ | 330 | ||||||||||
Total | $ | 809 | $ | 863 | $ | (1,299 | ) | $ | 373 | ||||||||
Balance as of | Charge for | Payments for | Balance as of | ||||||||||||||
25-Dec-11 | Separation Benefits | Separation Benefits | 30-Dec-12 | ||||||||||||||
(dollars in millions) | |||||||||||||||||
Publishing | $ | 1,780 | $ | 1,655 | $ | (2,626 | ) | $ | 809 | ||||||||
Total | $ | 1,780 | $ | 1,655 | $ | (2,626 | ) | $ | 809 |
SEGMENT_REPORTING_Tables
SEGMENT REPORTING (Tables) | 12 Months Ended | ||||||||||||
Dec. 29, 2013 | |||||||||||||
SEGMENT REPORTING [Abstract] | ' | ||||||||||||
Summary of revenue, operating earnings (loss), depreciation and amortization and capital expenditures and identifiable total assets | ' | ||||||||||||
Our "Corporate" segment reflects unallocated costs primarily related to corporate executive management and corporate governance. | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Revenue | |||||||||||||
Television | $ | 166,616 | $ | 152,444 | $ | 110,372 | |||||||
Radio | 76,816 | 76,259 | 70,367 | ||||||||||
Publishing | 154,558 | 164,947 | 170,976 | ||||||||||
Corporate | (723 | ) | (532 | ) | (263 | ) | |||||||
$ | 397,267 | $ | 393,118 | $ | 351,452 | ||||||||
Operating earnings (loss) | |||||||||||||
Television | $ | 31,395 | $ | 41,005 | $ | 15,708 | |||||||
Radio | 14,017 | 13,962 | 15,053 | ||||||||||
Publishing | 13,778 | 11,622 | 15,901 | ||||||||||
Corporate | (7,874 | ) | (7,858 | ) | (7,120 | ) | |||||||
$ | 51,316 | $ | 58,731 | $ | 39,542 | ||||||||
Broadcast license impairment | |||||||||||||
Television | $ | - | $ | 664 | $ | 735 | |||||||
Radio | - | 952 | - | ||||||||||
Publishing | - | - | - | ||||||||||
Corporate | - | - | - | ||||||||||
$ | - | $ | 1,616 | $ | 735 | ||||||||
Depreciation and amortization | |||||||||||||
Television | $ | 13,192 | $ | 9,925 | $ | 9,424 | |||||||
Radio | 2,002 | 2,276 | 2,184 | ||||||||||
Publishing | 7,058 | 9,170 | 10,412 | ||||||||||
Corporate | 661 | 667 | 622 | ||||||||||
$ | 22,913 | $ | 22,038 | $ | 22,642 | ||||||||
Capital expenditures | |||||||||||||
Television | $ | 8,360 | $ | 8,656 | $ | 7,595 | |||||||
Radio | 1,508 | 1,663 | 865 | ||||||||||
Publishing | 2,498 | 1,240 | 987 | ||||||||||
Corporate | 74 | 746 | 1,143 | ||||||||||
$ | 12,440 | $ | 12,305 | $ | 10,590 | ||||||||
2013 | 2012 | ||||||||||||
Identifiable total assets | |||||||||||||
Television | $ | 356,032 | $ | 398,795 | |||||||||
Radio | 111,473 | 77,202 | |||||||||||
Publishing | 96,991 | 103,360 | |||||||||||
Corporate & discontinued operations | 31,522 | 46,446 | |||||||||||
$ | 596,018 | $ | 625,803 |
QUARTERLY_FINANCIAL_INFORMATIO1
QUARTERLY FINANCIAL INFORMATION (UNAUDITED) (Tables) | 12 Months Ended | ||||||||||||||||||||
Dec. 29, 2013 | |||||||||||||||||||||
QUARTERLY FINANCIAL INFORMATION (UNAUDITED) [Abstract] | ' | ||||||||||||||||||||
Quarterly Financial Information | ' | ||||||||||||||||||||
2013 | |||||||||||||||||||||
First | Second | Third | Fourth | Total | |||||||||||||||||
Revenue | $ | 93,204 | $ | 99,778 | $ | 96,919 | $ | 107,366 | $ | 397,267 | |||||||||||
Gross profit | 40,801 | 45,411 | 40,277 | 51,541 | 178,030 | ||||||||||||||||
Net earnings | 3,793 | 6,602 | 4,546 | 11,260 | 26,201 | ||||||||||||||||
Earnings per share | |||||||||||||||||||||
Basic - class A and B common stock | 0.08 | 0.13 | 0.09 | 0.22 | 0.52 | ||||||||||||||||
Diluted - class A and B common stock | 0.08 | 0.13 | 0.09 | 0.22 | 0.52 | ||||||||||||||||
2012 | |||||||||||||||||||||
First | Second | Third | Fourth | Total | |||||||||||||||||
Revenue | $ | 80,673 | $ | 94,068 | $ | 96,219 | $ | 122,158 | $ | 393,118 | |||||||||||
Gross profit | 33,013 | 45,573 | 43,906 | 65,377 | 187,869 | ||||||||||||||||
Net earnings | 2,919 | 7,611 | 7,698 | 15,097 | 33,325 | ||||||||||||||||
Earnings per share | |||||||||||||||||||||
Basic - class A and B common stock | 0.05 | 0.13 | 0.14 | 0.3 | 0.61 | ||||||||||||||||
Diluted - class A and B common stock | 0.05 | 0.13 | 0.14 | 0.3 | 0.61 | ||||||||||||||||
Basic and diluted - class C common stock | 0.19 | 0.28 | 0.15 | - | 0.74 |
ACCUMULATED_OTHER_COMPREHENSIV1
ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables) | 12 Months Ended | ||||||||
Dec. 29, 2013 | |||||||||
ACCUMULATED OTHER COMPREHENSIVE LOSS [Abstract] | ' | ||||||||
Changes in accumulated other comprehensive loss and Reclassification of accumulated other comprehensive loss | ' | ||||||||
The changes in accumulated other comprehensive loss by component, net of tax, is as follows: | |||||||||
Defined Benefit | Total | ||||||||
Pension and | |||||||||
Postretirement | |||||||||
Plans | |||||||||
Balance as of December 30, 2012 | $ | (55,739 | ) | $ | (55,739 | ) | |||
Net actuarial gain and amounts reclassified from accumulated other comprehensive loss | 16,085 | 16,085 | |||||||
Net other comprehensive income (loss) | 16,085 | 16,085 | |||||||
Balance as of December 29, 2013 | $ | (39,654 | ) | $ | (39,654 | ) | |||
Reclassification of Accumulated Other Comprehensive Loss | ' | ||||||||
The reclassification of accumulated other comprehensive loss is as follows: | |||||||||
Amount Reclassified from | |||||||||
Accumulated Other | |||||||||
Comprehensive Loss | |||||||||
2013 | |||||||||
Amortization of defined benefit pension and postretirement plan items: | |||||||||
Prior service cost and unrecognized loss (1) | $ | (2,558 | ) | ||||||
Income tax expense | 10,176 | ||||||||
Net actuarial (Gain) | (23,703 | ) | |||||||
Total reclassifications | $ | (16,085 | ) | ||||||
-1 | These accumulated other comprehensive loss components are included in the computation of net periodic pension and postretirement cost. See Note 3 "Employee Benefit Plans" for more information. Of the costs for the year ended December 29, 2013, $263 is included in television operating costs and expenses, $176 is included in radio operating costs and expenses $1,163 is included in publishing operating costs and expenses, and $956 is included in selling and administrative expenses. |
SIGNIFICANT_ACCOUNTING_POLICIE3
SIGNIFICANT ACCOUNTING POLICIES (Details) (USD $) | 3 Months Ended | 12 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share data in Thousands, except Per Share data, unless otherwise specified | Dec. 29, 2013 | Sep. 29, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 30, 2012 | Sep. 23, 2012 | Jun. 24, 2012 | Mar. 25, 2012 | Dec. 29, 2013 | Dec. 30, 2012 | Dec. 25, 2011 | Dec. 27, 2009 | Sep. 30, 2009 | Dec. 29, 2013 | Dec. 30, 2012 | Dec. 25, 2011 | Dec. 29, 2013 | Dec. 30, 2012 | Dec. 25, 2011 | Dec. 29, 2013 | Dec. 30, 2012 | Dec. 25, 2011 | Dec. 29, 2013 | Dec. 30, 2012 | Dec. 25, 2011 | Dec. 29, 2013 | Dec. 30, 2012 | Dec. 25, 2011 | Sep. 23, 2012 | Dec. 29, 2013 | Dec. 30, 2012 | Dec. 25, 2011 | Dec. 29, 2013 | Dec. 30, 2012 | Dec. 25, 2011 | Dec. 29, 2013 | Dec. 30, 2012 | Dec. 25, 2011 | Dec. 29, 2013 | Dec. 30, 2012 | Dec. 25, 2011 | Dec. 29, 2013 | Dec. 30, 2012 | Dec. 25, 2011 | Dec. 29, 2013 | Dec. 30, 2012 | Dec. 25, 2011 | Dec. 25, 2011 | Dec. 26, 2010 | Dec. 30, 2012 | Dec. 26, 2010 | Dec. 25, 2011 | Feb. 28, 2010 | Dec. 26, 2010 | Dec. 25, 2011 | Feb. 28, 2010 | Dec. 29, 2013 | Dec. 30, 2012 | Dec. 30, 2012 | Dec. 29, 2013 | Dec. 29, 2013 | Dec. 29, 2013 | Dec. 29, 2013 | Dec. 29, 2013 | Dec. 29, 2013 | Dec. 29, 2013 | Dec. 29, 2013 | Dec. 29, 2013 | Dec. 29, 2013 | Dec. 29, 2013 | Dec. 30, 2012 | |||||||
Station | Continuing Operations [Member] | Continuing Operations [Member] | Continuing Operations [Member] | Discontinued Operations [Member] | Discontinued Operations [Member] | Discontinued Operations [Member] | Class A and B [Member] | Class A and B [Member] | Class A and B [Member] | Class A and B [Member] | Class A and B [Member] | Class A and B [Member] | Class A and B [Member] | Class A and B [Member] | Class A and B [Member] | Class C [Member] | Class C [Member] | Class C [Member] | Class C [Member] | Class C [Member] | Class C [Member] | Class C [Member] | Class C [Member] | Class C [Member] | Class C [Member] | Non-Vested Restricted Stock [Member] | Non-Vested Restricted Stock [Member] | Non-Vested Restricted Stock [Member] | Non-Vested Restricted Stock [Member] | Non-Vested Restricted Stock [Member] | Non-Vested Restricted Stock [Member] | Non-Vested Restricted Stock [Member] | Non-Vested Restricted Stock [Member] | Non-Vested Restricted Stock [Member] | Secured Note [Member] | Secured Note [Member] | Promissory Note [Member] | Promissory Note [Member] | Promissory Note [Member] | Promissory Note [Member] | Working Capital Note [Member] | Working Capital Note [Member] | Working Capital Note [Member] | Broadcasting [Member] | Broadcasting [Member] | Publishing [Member] | Minimum [Member] | Maximum [Member] | Building and Land Improvements [Member] | Building [Member] | Newspaper Printing Presses [Member] | Broadcasting Equipment [Member] | Broadcasting Equipment [Member] | Other Printing Presses [Member] | Others [Member] | Others [Member] | Capital Leases [Member] | Capital Leases [Member] | ||||||||||||||||||||
Continuing Operations [Member] | Continuing Operations [Member] | Continuing Operations [Member] | Discontinued Operations [Member] | Discontinued Operations [Member] | Discontinued Operations [Member] | Continuing Operations [Member] | Continuing Operations [Member] | Continuing Operations [Member] | Discontinued Operations [Member] | Discontinued Operations [Member] | Discontinued Operations [Member] | Continuing Operations [Member] | Continuing Operations [Member] | Continuing Operations [Member] | Discontinued Operations [Member] | Discontinued Operations [Member] | Discontinued Operations [Member] | Minimum [Member] | Maximum [Member] | Minimum [Member] | Maximum [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Revenue recognition [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Period of newspaper advertising contracts, maximum | ' | ' | ' | ' | ' | ' | ' | ' | '1 year | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Period over which if deferred revenue is be earned is included in other long term liabilities, maximum | ' | ' | ' | ' | ' | ' | ' | ' | '1 year | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Advertising expense [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Advertising expense | ' | ' | ' | ' | ' | ' | ' | ' | $6,645,000 | $7,438,000 | $6,915,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Cash equivalents [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Maximum period of maturity for cash equivalents | ' | ' | ' | ' | ' | ' | ' | ' | '3 months | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Receivables [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Accounts receivable against the allowance for doubtful accounts | 1,688,000 | ' | ' | ' | 2,377,000 | ' | ' | ' | 1,688,000 | 2,377,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Inventories [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Paper and supplies | 2,224,000 | ' | ' | ' | 2,950,000 | ' | ' | ' | 2,224,000 | 2,950,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Work in process | 59,000 | ' | ' | ' | 84,000 | ' | ' | ' | 59,000 | 84,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Less obsolescence reserve | -92,000 | ' | ' | ' | -90,000 | ' | ' | ' | -92,000 | -90,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Inventories, net | 2,191,000 | ' | ' | ' | 2,944,000 | ' | ' | ' | 2,191,000 | 2,944,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Television programming [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Minimum contract period for rights to television programming | ' | ' | ' | ' | ' | ' | ' | ' | '1 year | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Maximum contract period for rights to television programming | ' | ' | ' | ' | ' | ' | ' | ' | '5 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Barter advertising revenue and expense | ' | ' | ' | ' | ' | ' | ' | ' | 7,210,000 | 5,393,000 | 4,672,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Property, Plant and Equipment [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Property and equipment, useful life | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '10 years | '30 years | '25 years | '5 years | '20 years | '10 years | '3 years | '10 years | ' | ' | |||||||
Depreciation expenses | ' | ' | ' | ' | ' | ' | ' | ' | 20,058,000 | 20,590,000 | 21,261,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Net property and equipment secured by credit facilty | 160,500,000 | ' | ' | ' | ' | ' | ' | ' | 160,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Capital leases [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Capital leased assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 474,000 | 1,834,000 | |||||||
Accumulated depreciation | 246,531,000 | ' | ' | ' | 242,145,000 | ' | ' | ' | 246,531,000 | 242,145,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 162,000 | 1,683,000 | |||||||
Current portion of long-term liabilities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 79,000 | 54,000 | |||||||
Other long-term liabilities | 3,554,000 | ' | ' | ' | 3,491,000 | ' | ' | ' | 3,554,000 | 3,491,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 244,000 | 113,000 | |||||||
Impairment of long-lived assets [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Impairment of long-lived assets | ' | ' | ' | ' | ' | ' | ' | ' | 238,000 | 493,000 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 238,000 | 368,000 | 125,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Amortization period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '5 years | '25 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Secured note | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 450,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Number of radio stations sold | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Principal payments received | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50,000 | 50,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Note receivable | 524,000 | ' | ' | ' | 772,000 | ' | ' | ' | 524,000 | 772,000 | 400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 772,000 | ' | 433,000 | 700,000 | ' | 51,000 | 147,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Period over which note is repayable | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '3 years | '4 years | ' | ' | '3 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Fair value of notes | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 738,000 | ' | ' | 587,000 | ' | ' | 129,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Fair value of notes discounted (in hundredths) | ' | ' | ' | ' | ' | ' | ' | ' | 3.36% | 3.08% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6.25% | 6.79% | ' | ' | 9.08% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Interest rate on notes receivables (in hundredths) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Share Repurchases [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Stock repurchased during period (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,264 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,264 | ' | 3,264 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Numerator for basic earnings for each class of common stock and non-vested restricted stock [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Net earnings | 11,260,000 | 4,546,000 | 6,602,000 | 3,793,000 | 15,097,000 | 7,698,000 | 7,611,000 | 2,919,000 | 26,201,000 | 33,325,000 | 22,186,000 | ' | ' | 26,250,000 | 32,582,000 | 21,713,000 | ' | ' | ' | 26,201,000 | 30,701,000 | 18,862,000 | 26,250,000 | 29,991,000 | 18,423,000 | ' | ' | ' | ' | 0 | 2,407,000 | 3,060,000 | 0 | 2,379,000 | 3,031,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Minimum dividend | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,146,000 | 1,854,000 | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | 0 | 0 | 0 | ' | ' | ' | ' | 0 | 1,146,000 | 1,854,000 | 0 | 1,146,000 | 1,854,000 | ' | ' | ' | 0 | 0 | 0 | 0 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Undistributed net earnings | ' | ' | ' | ' | ' | ' | ' | ' | $26,201,000 | $32,179,000 | $20,332,000 | ' | ' | $26,250,000 | $31,436,000 | $19,859,000 | ($49,000) | $743,000 | $473,000 | $26,201,000 | $30,701,000 | $18,862,000 | $26,250,000 | $29,991,000 | $18,423,000 | ($49,000) | $709,000 | $439,000 | ' | $0 | $1,261,000 | $1,206,000 | $0 | $1,233,000 | $1,177,000 | $0 | $29,000 | $28,000 | $0 | $217,000 | $264,000 | $0 | $212,000 | $259,000 | $0 | $5,000 | $6,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Denominator for basic earnings for each class of common stock: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Weighted average shares outstanding (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | 3,264 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50,259 | 50,091 | 51,088 | 50,259 | 50,091 | 51,088 | 50,259 | 50,091 | 51,088 | ' | 0 | [1] | 3,264 | [1] | 3,264 | 0 | [1] | 3,264 | [1] | 3,264 | [1] | 0 | [1] | 3,264 | [1] | 3,264 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Basic earnings per share: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Basic earnings per share (in dollars per share) | $0.22 | $0.09 | $0.13 | $0.08 | $0.30 | $0.14 | $0.13 | $0.05 | $0.52 | $0.61 | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.52 | $0.61 | $0.37 | $0.52 | $0.60 | $0.36 | $0 | $0.01 | $0.01 | ' | $0 | $0.74 | $0.94 | $0 | $0.73 | $0.93 | $0 | $0.01 | $0.01 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
[1] | The weighted average number of shares is calculated only for the period of time which the class C common stock was outstanding during the period, not the entire period. |
SIGNIFICANT_ACCOUNTING_POLICIE4
SIGNIFICANT ACCOUNTING POLICIES, Earnings Per Share, Diluted (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Share data, unless otherwise specified | Dec. 29, 2013 | Sep. 29, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 30, 2012 | Sep. 23, 2012 | Jun. 24, 2012 | Mar. 25, 2012 | Dec. 29, 2013 | Dec. 30, 2012 | Dec. 25, 2011 |
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Antidilutive securities excluded from computation of earnings per share (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | 435,000 | 538,000 | ' |
Numerator for diluted net earnings per share: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Dividends on class A and B common stock | ' | ' | ' | ' | ' | ' | ' | ' | $0 | $0 | $0 |
Net earnings | ' | ' | ' | ' | ' | ' | ' | ' | 26,201 | 30,701 | 18,863 |
Denominator for diluted net earnings per share: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted average shares outstanding (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | 50,436,000 | 50,091,000 | 51,088,000 |
Diluted earnings per share: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net earnings (in dollars per share) | $0.22 | $0.09 | $0.13 | $0.08 | $0.30 | $0.14 | $0.13 | $0.05 | $0.52 | $0.61 | $0.37 |
Class C common stock equivalents (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' |
Conversion of class C shares (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | 3,264,000 | ' | ' |
Continuing Operations [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Numerator for diluted net earnings per share: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total undistributed earnings | ' | ' | ' | ' | ' | ' | ' | ' | 26,250 | 29,991 | 18,424 |
Diluted earnings per share: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net earnings (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | $0.52 | $0.60 | $0.36 |
Discontinued Operations [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Numerator for diluted net earnings per share: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total undistributed earnings | ' | ' | ' | ' | ' | ' | ' | ' | ($49) | $710 | $439 |
Diluted earnings per share: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net earnings (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | $0 | $0.01 | $0.01 |
Class A [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Diluted earnings per share: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Ratio of class C shares convertible into Class A under option one | ' | ' | ' | ' | ' | ' | ' | ' | 1.36397 | ' | ' |
Number of Class A shares resulting from conversion of class C shares under option one (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | 4,452,000 | ' | ' |
Ratio of class C shares convertible under option two | ' | ' | ' | ' | ' | ' | ' | ' | 0.248243 | ' | ' |
Number of shares resulting from conversion of class C shares under option two (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | 810,000 | ' | ' |
Class B [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Diluted earnings per share: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Ratio of class C shares convertible under option two | ' | ' | ' | ' | ' | ' | ' | ' | 1.115727 | ' | ' |
Number of shares resulting from conversion of class C shares under option two (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | 3,642,000 | ' | ' |
NOTES_PAYABLE_Details
NOTES PAYABLE (Details) (USD $) | 12 Months Ended | 3 Months Ended | 12 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | |||||||||||||||||||
In Thousands, unless otherwise specified | Dec. 29, 2013 | Dec. 30, 2012 | Dec. 25, 2011 | Sep. 23, 2012 | Dec. 30, 2012 | Dec. 29, 2013 | Dec. 05, 2012 | Dec. 29, 2013 | Dec. 05, 2012 | Dec. 29, 2013 | Dec. 05, 2012 | Dec. 29, 2013 | Dec. 29, 2013 | Dec. 29, 2013 | Dec. 29, 2013 | Dec. 29, 2013 | Dec. 29, 2013 | Dec. 29, 2013 | Dec. 29, 2013 | Dec. 29, 2013 | Sep. 29, 2013 | Sep. 23, 2012 | Dec. 29, 2013 | Dec. 30, 2012 | Aug. 13, 2012 |
Quarter | Class C [Member] | Class C [Member] | Secured Debt [Member] | Secured Debt [Member] | Term Loan [Member] | Term Loan [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | LIBOR [Member] | Federal Funds Rate [Member] | Federal Funds Rate [Member] | One Month LIBOR [Member] | One Month LIBOR [Member] | Minimum [Member] | Minimum [Member] | Maximum [Member] | Maximum [Member] | Unsecured subordinated notes payable [Member] | Unsecured subordinated notes payable [Member] | Unsecured subordinated notes payable [Member] | Unsecured subordinated notes payable [Member] | Unsecured subordinated notes payable [Member] | |||
Secured Debt [Member] | Secured Debt [Member] | Secured Debt [Member] | Secured Debt [Member] | LIBOR [Member] | Secured Debt [Member] | LIBOR [Member] | Note | Note | Note | ||||||||||||||||
Line of Credit Facility [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Secured credit facility | ' | ' | ' | ' | ' | ' | $350,000 | ' | $150,000 | ' | $200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Expiration date of secured credit facility | 5-Dec-17 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Secured term loan facility amortized percentage (in hundredths) | 10.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-term Line of Credit | ' | ' | ' | ' | ' | ' | ' | 138,750 | ' | 56,200 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Incremental commitments, maximum | ' | ' | ' | ' | ' | 100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Description of variable rate basis | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'LIBOR | ' | 'Federal Funds Rate plus | ' | 'one-month LIBOR | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt instruments basis spread on variable rate (in hundredths) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.25% | 0.50% | ' | 1.00% | ' | 0.50% | 1.50% | 1.50% | 2.50% | ' | ' | ' | ' | ' |
Consolidated funded debt ratio of financial covenant as a multiple | 3.75 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Minimum interest coverage ratio of financial covenant as a multiple | 3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fiscal quarter period preceding the date of determination of ratio | 4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Borrowings | 194,950 | 230,095 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Credit facility's weighted average interest rate (in hundredths) | 2.23% | 2.53% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fees in connection with the credit facility | 3,772 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair value of our secured credit facility | 187,469 | 224,752 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Discounted cash flows interest rate for fair value of secured credit facility (in hundredths) | 3.36% | 3.08% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7.19% | 7.26% | ' |
Scheduled minimum repayments of secured loan facility [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
2014 | ' | ' | ' | ' | ' | ' | ' | 15,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
2015 | ' | ' | ' | ' | ' | ' | ' | 15,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
2016 | ' | ' | ' | ' | ' | ' | ' | 15,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
2017 | ' | ' | ' | ' | ' | ' | ' | 93,750 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock repurchased during period (in shares) | ' | 3,264 | ' | 3,264 | 3,264 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payments for repurchase of common stock | 0 | 6,246 | 0 | 6,246 | 6,246 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of promissory notes issued | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 15 | ' | ' | ' |
Aggregate principal amount of promissory notes | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 25,599 |
Interest rate of notes issued (in hundredths) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7.25% |
Number of remaining subordinated notes | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7 | ' | ' |
Note payable repaid during period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,656 | ' | ' | 9,664 | ' |
Number of subordinate notes repaid during the period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7 | ' |
Total remaining principle amount of subordinated notes | 10,623 | 13,279 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 13,279 | ' | ' |
Annual installment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,656 | ' | ' |
Fair value of unsecured subordinated notes payable | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $13,515 | $16,188 | ' |
Discounted cash flows interest rate for fair value of debt (in hundredths) | 3.36% | 3.08% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7.19% | 7.26% | ' |
EMPLOYEE_BENEFIT_PLANS_Details
EMPLOYEE BENEFIT PLANS (Details) (USD $) | 12 Months Ended | ||
Dec. 29, 2013 | Dec. 30, 2012 | Dec. 25, 2011 | |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Number of years taken for calculation of benefit plan | '5 years | ' | ' |
Age of employees before 2006 to take post retirement health benefits | '50 years | ' | ' |
Age of employees who retire after 2007 | '65 years | ' | ' |
Change in plan assets [Roll Forward] | ' | ' | ' |
Company contributions | $2,436,000 | $1,979,000 | $2,070,000 |
Amounts recognized in accumulated other comprehensive loss [Abstract] | ' | ' | ' |
Current year change, Total | -16,085,000 | 2,757,000 | 20,687,000 |
Weighted-average assumptions used to determine net periodic benefit cost [Abstract] | ' | ' | ' |
Rate of compensation increases (in hundredths) | 6.75% | ' | ' |
Assumed health care cost trend rate used in measuring the postretirement benefit obligation for retirees (in hundredths) | 9.00% | ' | ' |
Assumed health care cost trend rate, grading down (in hundredths) | 5.00% | ' | ' |
1% change in the assumed health care cost trend rate [Abstract] | ' | ' | ' |
Effect of 1% increase on total of service and interest cost components | 10,000 | ' | ' |
Effect of 1% decrease on total of service and interest cost components | -9,000 | ' | ' |
Effect of 1% increase on postretirement benefit obligation | 197,000 | ' | ' |
Effect of 1% decrease on postretirement benefit obligation | -191,000 | ' | ' |
Fair value of our plan assets by level of fair value hierarchy [Abstract] | ' | ' | ' |
Fair value of plan assets, Gross | 111,945,000 | 102,602,000 | ' |
Fair value of plan assets, Net | 111,945,000 | 102,602,000 | ' |
Pension plan weighted average asset allocations, by asset category [Abstract] | ' | ' | ' |
Pension plan weighted average asset allocations (in hundredths) | 100.00% | 100.00% | ' |
Asset mix guidelines for the plan [Abstract] | ' | ' | ' |
Contributions to defined benefit pension plan | 2,436,000 | 1,979,000 | 2,070,000 |
Benefit payments, which are expected to be paid with future contributions | ' | ' | ' |
Percentage of eligible wages of employees, on pre-tax basis (in hundredths) | 50.00% | ' | ' |
Percentage of eligible wages of employees, on after-tax basis (in hundredths) | 50.00% | ' | ' |
Maximum combined total contribution for employees wages (in hundredths) | 50.00% | ' | ' |
Contribution of each dollar by the participant | ' | 0.5 | ' |
Contributions recorded as operating expense | 2,436,000 | 1,979,000 | 2,070,000 |
Pension Benefits [Member] | ' | ' | ' |
Change in benefit obligations [Roll Forward] | ' | ' | ' |
Benefit obligation at beginning of year | 182,004,000 | 171,028,000 | ' |
Service cost | 0 | 0 | 0 |
Interest cost | 7,009,000 | 7,578,000 | 7,850,000 |
Actuarial (gain) loss | -15,365,000 | 12,322,000 | ' |
Benefits paid | -9,156,000 | -8,924,000 | ' |
Benefit obligation at end of year | 164,492,000 | 182,004,000 | 171,028,000 |
Change in plan assets [Roll Forward] | ' | ' | ' |
Fair value of plan assets at beginning of year | 102,602,000 | 96,699,000 | ' |
Actual gain (loss) on plan assets | 15,386,000 | 11,672,000 | ' |
Company contributions | 3,114,000 | 3,155,000 | ' |
Benefits paid | -9,156,000 | -8,924,000 | ' |
Fair value of plan assets at end of year | 111,946,000 | 102,602,000 | 96,699,000 |
Funded status | -52,546,000 | -79,402,000 | ' |
Amounts recognized in consolidated balance sheets [Abstract] | ' | ' | ' |
Current liabilities | -491,000 | -476,000 | ' |
Noncurrent liabilities | -52,055,000 | -78,926,000 | ' |
Total | -52,546,000 | -79,402,000 | ' |
Amounts recognized in accumulated other comprehensive loss [Abstract] | ' | ' | ' |
Actuarial Loss, Net | 67,004,000 | 93,217,000 | ' |
Current year change, Actuarial Loss Net | -26,213,000 | ' | ' |
Prior Service Credit | -38,000 | -48,000 | ' |
Current year change, Prior Service Credit | 10,000 | ' | ' |
Deferred Income Taxes | -26,900,000 | -37,052,000 | ' |
Current year change, Deferred Income Taxes | 10,152,000 | ' | ' |
Total | 40,066,000 | 56,117,000 | ' |
Current year change, Total | -16,051,000 | ' | ' |
Accumulated benefit obligation for pension plans | 164,492,000 | 182,004,000 | ' |
Components of net periodic benefit (income) costs [Abstract] | ' | ' | ' |
Service cost | 0 | 0 | 0 |
Interest cost | 7,009,000 | 7,578,000 | 7,850,000 |
Expected return on plan assets | -7,325,000 | -8,454,000 | -9,594,000 |
Amortization of: | ' | ' | ' |
Unrecognized prior service credit | -10,000 | -10,000 | -10,000 |
Unrecognized net loss | 2,787,000 | 2,038,000 | 979,000 |
Net periodic benefit cost included in operating costs and expenses and selling and administrative expenses, Total | 2,461,000 | 1,152,000 | -775,000 |
Unrecognized net loss and prior service credit for, accumulated other comprehensive income into net periodic benefit cost over the next fiscal year | 2,122,000 | -10,000 | ' |
Weighted-average assumptions used to determine benefit obligations [Abstract] | ' | ' | ' |
Discount rate (in hundredths) | 4.75% | 3.95% | ' |
Rate of compensation increases (in hundredths) | 0.00% | 0.00% | ' |
Weighted-average assumptions used to determine net periodic benefit cost [Abstract] | ' | ' | ' |
Discount rate (in hundredths) | 3.95% | 4.55% | 5.35% |
Expected return on plan assets (in hundredths) | 7.25% | 7.75% | 8.25% |
Rate of compensation increases (in hundredths) | 0.00% | 0.00% | 0.00% |
Asset mix guidelines for the plan [Abstract] | ' | ' | ' |
Contributions to defined benefit pension plan | 3,114,000 | 3,155,000 | ' |
Benefit payments, which are expected to be paid with future contributions | ' | ' | ' |
2014 | 9,399,000 | ' | ' |
2015 | 9,669,000 | ' | ' |
2016 | 9,869,000 | ' | ' |
2017 | 10,015,000 | ' | ' |
2018 | 10,142,000 | ' | ' |
2019-2023 | 52,740,000 | ' | ' |
Contributions recorded as operating expense | 3,114,000 | 3,155,000 | ' |
Other Postretirement Benefits [Member] | ' | ' | ' |
Change in benefit obligations [Roll Forward] | ' | ' | ' |
Benefit obligation at beginning of year | 14,608,000 | 17,274,000 | ' |
Service cost | 55,000 | 14,000 | 53,000 |
Interest cost | 380,000 | 630,000 | 827,000 |
Actuarial (gain) loss | -277,000 | -2,010,000 | ' |
Benefits paid | -1,669,000 | -1,300,000 | ' |
Benefit obligation at end of year | 13,097,000 | 14,608,000 | 17,274,000 |
Change in plan assets [Roll Forward] | ' | ' | ' |
Fair value of plan assets at beginning of year | 0 | 0 | ' |
Actual gain (loss) on plan assets | 0 | 0 | ' |
Company contributions | 1,669,000 | 1,300,000 | ' |
Benefits paid | -1,669,000 | -1,300,000 | ' |
Fair value of plan assets at end of year | 0 | 0 | 0 |
Funded status | -13,097,000 | -14,608,000 | ' |
Amounts recognized in consolidated balance sheets [Abstract] | ' | ' | ' |
Current liabilities | -1,568,000 | -1,645,000 | ' |
Noncurrent liabilities | -11,529,000 | -12,963,000 | ' |
Total | -13,097,000 | -14,608,000 | ' |
Amounts recognized in accumulated other comprehensive loss [Abstract] | ' | ' | ' |
Actuarial Loss, Net | -94,000 | 183,000 | ' |
Current year change, Actuarial Loss Net | -277,000 | ' | ' |
Prior Service Credit | -564,000 | -783,000 | ' |
Current year change, Prior Service Credit | 219,000 | ' | ' |
Deferred Income Taxes | 246,000 | 222,000 | ' |
Current year change, Deferred Income Taxes | 24,000 | ' | ' |
Total | -412,000 | -378,000 | ' |
Current year change, Total | -34,000 | ' | ' |
Components of net periodic benefit (income) costs [Abstract] | ' | ' | ' |
Service cost | 55,000 | 14,000 | 53,000 |
Interest cost | 380,000 | 630,000 | 827,000 |
Amortization of: | ' | ' | ' |
Unrecognized prior service credit | -219,000 | -219,000 | -219,000 |
Unrecognized net transition obligation | 0 | 546,000 | 549,000 |
Unrecognized net loss | 0 | 188,000 | 0 |
Net periodic benefit cost included in operating costs and expenses and selling and administrative expenses, Total | 216,000 | 1,159,000 | 1,210,000 |
Prior service credit and transition obligation for, other accumulated comprehensive income into net periodic benefit cost over the next fiscal year | -219,000 | 0 | ' |
Weighted-average assumptions used to determine benefit obligations [Abstract] | ' | ' | ' |
Discount rate (in hundredths) | 3.55% | 2.75% | ' |
Rate of compensation increases (in hundredths) | 0.00% | 0.00% | ' |
Weighted-average assumptions used to determine net periodic benefit cost [Abstract] | ' | ' | ' |
Discount rate (in hundredths) | 2.75% | 3.85% | 4.95% |
Expected return on plan assets (in hundredths) | 0.00% | 0.00% | 0.00% |
Rate of compensation increases (in hundredths) | 0.00% | 0.00% | 0.00% |
Asset mix guidelines for the plan [Abstract] | ' | ' | ' |
Contributions to defined benefit pension plan | 1,669,000 | 1,300,000 | ' |
Benefit payments, which are expected to be paid with future contributions | ' | ' | ' |
2014 | 1,568,000 | ' | ' |
2015 | 1,545,000 | ' | ' |
2016 | 1,509,000 | ' | ' |
2017 | 1,524,000 | ' | ' |
2018 | 1,485,000 | ' | ' |
2019-2023 | 5,241,000 | ' | ' |
Contributions recorded as operating expense | 1,669,000 | 1,300,000 | ' |
Qualified Defined Benefit Pension Plan [Member] | ' | ' | ' |
Change in plan assets [Roll Forward] | ' | ' | ' |
Company contributions | 2,710,000 | ' | ' |
Asset mix guidelines for the plan [Abstract] | ' | ' | ' |
Contributions to defined benefit pension plan | 2,710,000 | ' | ' |
Benefit payments, which are expected to be paid with future contributions | ' | ' | ' |
Contributions recorded as operating expense | 2,710,000 | ' | ' |
Unfunded Non-Qualified Pension Plan [Member] | ' | ' | ' |
Change in plan assets [Roll Forward] | ' | ' | ' |
Company contributions | 404,000 | ' | ' |
Asset mix guidelines for the plan [Abstract] | ' | ' | ' |
Contributions to defined benefit pension plan | 404,000 | ' | ' |
Expected contribution to pension plan in 2014 | 491,000 | ' | ' |
Benefit payments, which are expected to be paid with future contributions | ' | ' | ' |
Contributions recorded as operating expense | 404,000 | ' | ' |
MAP - 21 [Member] | ' | ' | ' |
Asset mix guidelines for the plan [Abstract] | ' | ' | ' |
Expected contribution to pension plan in 2014 | 0 | ' | ' |
Cash [Member] | ' | ' | ' |
Fair value of our plan assets by level of fair value hierarchy [Abstract] | ' | ' | ' |
Fair value of plan assets, Gross | ' | 715,000 | ' |
Mutual funds [Member] | ' | ' | ' |
Fair value of our plan assets by level of fair value hierarchy [Abstract] | ' | ' | ' |
Fair value of plan assets, Gross | 111,205,000 | 89,430,000 | ' |
Money-market fund [Member] | ' | ' | ' |
Fair value of our plan assets by level of fair value hierarchy [Abstract] | ' | ' | ' |
Fair value of plan assets, Gross | 740,000 | 7,000 | ' |
Collective trust fund [Member] | ' | ' | ' |
Fair value of our plan assets by level of fair value hierarchy [Abstract] | ' | ' | ' |
Fair value of plan assets, Gross | ' | 12,450,000 | ' |
Equity securities [Member] | ' | ' | ' |
Pension plan weighted average asset allocations, by asset category [Abstract] | ' | ' | ' |
Pension plan weighted average asset allocations (in hundredths) | 42.20% | 65.20% | ' |
U.S. Equity [Member] | ' | ' | ' |
Asset mix guidelines for the plan [Abstract] | ' | ' | ' |
Target (in hundredths) | 33.00% | ' | ' |
Non- U.S. Equity [Member] | ' | ' | ' |
Asset mix guidelines for the plan [Abstract] | ' | ' | ' |
Target (in hundredths) | 33.00% | ' | ' |
Global Equity [Member] | ' | ' | ' |
Asset mix guidelines for the plan [Abstract] | ' | ' | ' |
Target (in hundredths) | 34.00% | ' | ' |
Fixed-income securities [Member] | ' | ' | ' |
Pension plan weighted average asset allocations, by asset category [Abstract] | ' | ' | ' |
Pension plan weighted average asset allocations (in hundredths) | 57.20% | 34.90% | ' |
Other [Member] | ' | ' | ' |
Pension plan weighted average asset allocations, by asset category [Abstract] | ' | ' | ' |
Pension plan weighted average asset allocations (in hundredths) | 0.60% | -0.10% | ' |
Minimum [Member] | ' | ' | ' |
Benefit payments, which are expected to be paid with future contributions | ' | ' | ' |
Percentage of eligible wages of employees, on pre-tax basis (in hundredths) | ' | 3.50% | ' |
Maximum [Member] | ' | ' | ' |
Benefit payments, which are expected to be paid with future contributions | ' | ' | ' |
Percentage of eligible wages of employees, on pre-tax basis (in hundredths) | ' | 7.00% | ' |
Level 1 Inputs [Member] | ' | ' | ' |
Fair value of our plan assets by level of fair value hierarchy [Abstract] | ' | ' | ' |
Fair value of plan assets, Gross | 111,205,000 | 90,145,000 | ' |
Fair value of plan assets, Net | 111,205,000 | 90,145,000 | ' |
Level 1 Inputs [Member] | Cash [Member] | ' | ' | ' |
Fair value of our plan assets by level of fair value hierarchy [Abstract] | ' | ' | ' |
Fair value of plan assets, Gross | ' | 715,000 | ' |
Level 1 Inputs [Member] | Mutual funds [Member] | ' | ' | ' |
Fair value of our plan assets by level of fair value hierarchy [Abstract] | ' | ' | ' |
Fair value of plan assets, Gross | 111,205,000 | 89,430,000 | ' |
Level 1 Inputs [Member] | Money-market fund [Member] | ' | ' | ' |
Fair value of our plan assets by level of fair value hierarchy [Abstract] | ' | ' | ' |
Fair value of plan assets, Gross | 0 | 0 | ' |
Level 1 Inputs [Member] | Collective trust fund [Member] | ' | ' | ' |
Fair value of our plan assets by level of fair value hierarchy [Abstract] | ' | ' | ' |
Fair value of plan assets, Gross | ' | 0 | ' |
Level 2 Inputs [Member] | ' | ' | ' |
Fair value of our plan assets by level of fair value hierarchy [Abstract] | ' | ' | ' |
Fair value of plan assets, Gross | 740,000 | 12,457,000 | ' |
Fair value of plan assets, Net | 740,000 | 12,457,000 | ' |
Level 2 Inputs [Member] | Cash [Member] | ' | ' | ' |
Fair value of our plan assets by level of fair value hierarchy [Abstract] | ' | ' | ' |
Fair value of plan assets, Gross | ' | 0 | ' |
Level 2 Inputs [Member] | Mutual funds [Member] | ' | ' | ' |
Fair value of our plan assets by level of fair value hierarchy [Abstract] | ' | ' | ' |
Fair value of plan assets, Gross | 0 | 0 | ' |
Level 2 Inputs [Member] | Money-market fund [Member] | ' | ' | ' |
Fair value of our plan assets by level of fair value hierarchy [Abstract] | ' | ' | ' |
Fair value of plan assets, Gross | 740,000 | 7,000 | ' |
Level 2 Inputs [Member] | Collective trust fund [Member] | ' | ' | ' |
Fair value of our plan assets by level of fair value hierarchy [Abstract] | ' | ' | ' |
Fair value of plan assets, Gross | ' | 12,450,000 | ' |
Level 3 Inputs [Member] | ' | ' | ' |
Fair value of our plan assets by level of fair value hierarchy [Abstract] | ' | ' | ' |
Fair value of plan assets, Gross | 0 | 0 | ' |
Fair value of plan assets, Net | 0 | 0 | ' |
Level 3 Inputs [Member] | Cash [Member] | ' | ' | ' |
Fair value of our plan assets by level of fair value hierarchy [Abstract] | ' | ' | ' |
Fair value of plan assets, Gross | ' | 0 | ' |
Level 3 Inputs [Member] | Mutual funds [Member] | ' | ' | ' |
Fair value of our plan assets by level of fair value hierarchy [Abstract] | ' | ' | ' |
Fair value of plan assets, Gross | 0 | 0 | ' |
Level 3 Inputs [Member] | Money-market fund [Member] | ' | ' | ' |
Fair value of our plan assets by level of fair value hierarchy [Abstract] | ' | ' | ' |
Fair value of plan assets, Gross | 0 | 0 | ' |
Level 3 Inputs [Member] | Collective trust fund [Member] | ' | ' | ' |
Fair value of our plan assets by level of fair value hierarchy [Abstract] | ' | ' | ' |
Fair value of plan assets, Gross | ' | $0 | ' |
INCOME_TAXES_Details
INCOME TAXES (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 29, 2013 | Dec. 30, 2012 | Dec. 25, 2011 |
Jurisdiction | |||
Current [Abstract] | ' | ' | ' |
Federal | $3,864 | $5,290 | $2,169 |
State | 867 | 294 | 1,069 |
Total current | 4,731 | 5,584 | 3,238 |
Deferred [Abstract] | ' | ' | ' |
Federal | 10,438 | 12,828 | 9,575 |
State | 2,003 | 3,276 | 1,491 |
Total deferred | 12,441 | 16,104 | 11,066 |
Total provision for income taxes for continuing operations | 17,172 | 21,688 | 14,304 |
Current [Abstract] | ' | ' | ' |
Federal | -649 | -210 | -412 |
State | -118 | -11 | -74 |
Total current | -767 | -221 | -486 |
Deferred [Abstract] | ' | ' | ' |
Federal | 628 | 617 | 671 |
State | 126 | 122 | 144 |
Total deferred | 754 | 739 | 815 |
Total provision (benefit) for income taxes for discontinued operations | -13 | 518 | 329 |
Federal income tax rates and the effective income tax (benefit) rates [Abstract] | ' | ' | ' |
Statutory federal income tax rate (in hundredths) | 35.00% | 35.00% | 35.00% |
State income taxes, net of federal tax benefit (in hundredths) | 4.50% | 5.00% | 5.10% |
Other (in hundredths) | 0.10% | 0.00% | -0.40% |
Effective income tax (benefit) rate (in hundredths) | 39.60% | 40.00% | 39.70% |
Current assets [Abstract] | ' | ' | ' |
Receivables | 388 | 720 | ' |
Inventories | 33 | 32 | ' |
Other assets | 676 | 668 | ' |
Accrued compensation | 549 | 731 | ' |
Accrued employee benefits | 930 | 998 | ' |
Total current deferred tax assets | 2,576 | 3,149 | ' |
Current liabilities [Abstract] | ' | ' | ' |
Accrued state taxes | -68 | -117 | ' |
Total current deferred tax liability | -68 | -117 | ' |
Total net current deferred tax assets | 2,508 | 3,032 | ' |
Non-current assets [Abstract] | ' | ' | ' |
Accrued employee benefits | 24,530 | 34,445 | ' |
State deferred income taxes | 2,251 | 4,502 | ' |
State net operating loss | 2,192 | 2,122 | ' |
Intangible assets | 9,813 | 19,989 | ' |
Other assets | 484 | 278 | ' |
Total non-current deferred tax assets | 39,270 | 61,336 | ' |
Non-current liabilities [Abstract] | ' | ' | ' |
Property and equipment | -18,584 | -19,468 | ' |
Valuation allowance | -184 | -199 | ' |
Other liabilities | -377 | -96 | ' |
Total non-current deferred tax assets | -19,145 | -19,763 | ' |
Total net non-current deferred tax assets | 20,125 | 41,573 | ' |
Period over which broadcast licenses and tax deductible goodwill deduct | '15 years | ' | ' |
Period over which deferred tax assets and will be utilized to offset future taxable income | '20 years | ' | ' |
Valuation allowance | 0 | ' | ' |
Capital loss carryforwards | 184 | ' | ' |
Number of state and local jurisdictions | 14 | ' | ' |
Activity related to unrecognized tax benefits [Roll Forward] | ' | ' | ' |
Beginning balance | 762 | 885 | 913 |
Increases due to prior year tax provisions | 0 | 0 | 14 |
Decreases related to prior year tax provisions | 0 | 0 | -10 |
Decreases due to the expiration of statutes of limitations | -8 | -7 | -32 |
Decreases due to settlements | -27 | -116 | 0 |
Ending balance | 727 | 762 | 885 |
Unrecognized tax benefits that would impact effective tax rate | 727 | ' | ' |
Unrecognized tax benefits and related interest to be recognized within the next twelve months due to settlements with taxing authorities | 1,003 | ' | ' |
Accrued interest expense and penalties | 276 | 229 | ' |
Interest expense related to unrecognized tax benefits | 56 | 29 | ' |
Liability for interest and penalties decreased due to a reduction for the expiration of statutes of limitations | $8 | ' | ' |
Federal Jurisdiction [Member] | ' | ' | ' |
Non-current liabilities [Abstract] | ' | ' | ' |
Statute of limitations for assessing additional taxes | '3 years | ' | ' |
Open tax year for examinations | '2010 through 2012 | ' | ' |
State and Local Jurisdiction [Member] | ' | ' | ' |
Non-current liabilities [Abstract] | ' | ' | ' |
Open tax year for examinations | '2009 through 2012 | ' | ' |
State and Local Jurisdiction [Member] | Minimum [Member] | ' | ' | ' |
Non-current liabilities [Abstract] | ' | ' | ' |
Statute of limitations for assessing additional taxes | '3 years | ' | ' |
State and Local Jurisdiction [Member] | Maximum [Member] | ' | ' | ' |
Non-current liabilities [Abstract] | ' | ' | ' |
Statute of limitations for assessing additional taxes | '4 years | ' | ' |
WISCONSIN [Member] | ' | ' | ' |
Non-current liabilities [Abstract] | ' | ' | ' |
Open tax year for examinations | '2004 through 2007 | ' | ' |
Internal Revenue Service (IRS) [Member] | ' | ' | ' |
Non-current liabilities [Abstract] | ' | ' | ' |
Open tax year for examinations | '2010 and 2011 | ' | ' |
ILLINOIS [Member] | ' | ' | ' |
Non-current liabilities [Abstract] | ' | ' | ' |
Open tax year for examinations | '2006 and 2007 | ' | ' |
COMMITMENTS_AND_CONTINGENCIES_1
COMMITMENTS AND CONTINGENCIES (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 29, 2013 | Dec. 30, 2012 | Dec. 25, 2011 |
Future minimum rental payments due under noncancellable operating lease agreements [Abstract] | ' | ' | ' |
2014 | $2,433 | ' | ' |
2015 | 1,709 | ' | ' |
2016 | 1,127 | ' | ' |
2017 | 1,024 | ' | ' |
2018 | 501 | ' | ' |
Thereafter | 1,857 | ' | ' |
Total | 8,651 | ' | ' |
Future minimum rental payments due under capital lease agreements [Abstract] | ' | ' | ' |
2014 | 79 | ' | ' |
2015 | 82 | ' | ' |
2016 | 57 | ' | ' |
2017 | 37 | ' | ' |
2018 | 38 | ' | ' |
Thereafter | 30 | ' | ' |
Total | 323 | ' | ' |
Rent expense | 4,333 | 4,545 | 4,207 |
Rental income from subleases | 222 | 218 | 67 |
Purchase Commitment, Excluding Long-term Commitment [Line Items] | ' | ' | ' |
Standby letters of credit | 1,879 | ' | ' |
Lease expiration date | 31-Dec-16 | ' | ' |
Potential obligation pursuant to the guarantee | 549 | ' | ' |
Advertising Time [Member] | ' | ' | ' |
Purchase Commitment, Excluding Long-term Commitment [Line Items] | ' | ' | ' |
Purchase commitment | $9,510 | ' | ' |
Number of years for which purchase commitment is given | '4 years | ' | ' |
SHAREHOLDERS_EQUITY_Details
SHAREHOLDERS' EQUITY (Details) (USD $) | 12 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Dec. 29, 2013 | Dec. 30, 2012 | Dec. 25, 2011 |
Class of Stock [Line Items] | ' | ' | ' |
Number of classes of common stock | 2 | ' | ' |
Class C [Member] | ' | ' | ' |
Class of Stock [Line Items] | ' | ' | ' |
Stock repurchase | $6,246 | ' | ' |
Changes in number of shares of common stock (excluding Treasury stock) [Roll Forward] | ' | ' | ' |
Balance (in shares) | 0 | 3,264,000 | 3,264,000 |
Conversion of class B shares to class A shares (in shares) | 0 | 0 | 0 |
Shares repurchased (in shares) | 0 | -3,264,000 | 0 |
Shares issued under equity incentive and employee stock purchase plans (in shares) | 0 | 0 | 0 |
Balance (in shares) | 0 | 0 | 3,264,000 |
Class B [Member] | ' | ' | ' |
Class of Stock [Line Items] | ' | ' | ' |
Number of votes per share | 10 | ' | ' |
Shares retired held in treasury stock (in shares) | ' | ' | 8,677,000 |
Changes in number of shares of common stock (excluding Treasury stock) [Roll Forward] | ' | ' | ' |
Balance (in shares) | 6,905,955 | 7,214,000 | 8,595,000 |
Conversion of class B shares to class A shares (in shares) | -919,000 | -682,000 | -1,683,000 |
Shares repurchased (in shares) | 0 | 0 | 0 |
Shares issued under equity incentive and employee stock purchase plans (in shares) | 147,000 | 374,000 | 302,000 |
Balance (in shares) | 6,134,093 | 6,905,955 | 7,214,000 |
Class A [Member] | ' | ' | ' |
Changes in number of shares of common stock (excluding Treasury stock) [Roll Forward] | ' | ' | ' |
Balance (in shares) | 43,750,920 | 43,779,000 | 43,196,000 |
Conversion of class B shares to class A shares (in shares) | 919,000 | 682,000 | 1,683,000 |
Shares repurchased (in shares) | 0 | -710,000 | -1,100,000 |
Shares issued under equity incentive and employee stock purchase plans (in shares) | 0 | 0 | 0 |
Balance (in shares) | 44,669,851 | 43,750,920 | 43,779,000 |
STOCKBASED_COMPENSATION_Detail
STOCK-BASED COMPENSATION (Details) (USD $) | 12 Months Ended | 9 Months Ended | 12 Months Ended | 12 Months Ended | |||||||||||||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 29, 2013 | Dec. 30, 2012 | Dec. 25, 2011 | Dec. 29, 2013 | Sep. 29, 2013 | Dec. 29, 2013 | Dec. 30, 2012 | Dec. 29, 2013 | Dec. 30, 2012 | Dec. 25, 2011 | Dec. 30, 2012 | Dec. 25, 2011 | Dec. 30, 2012 | Dec. 25, 2011 | Dec. 29, 2013 | Dec. 29, 2013 | Dec. 29, 2013 | Dec. 29, 2013 | Dec. 29, 2013 | Dec. 29, 2013 | Dec. 29, 2013 |
Class A and B Common Stock [Member] | Performance Units [Member] | Stock Appreciation Rights [Member] | Stock Appreciation Rights [Member] | Unrestricted and Non-Vested Restricted Stock Grants [Member] | Unrestricted and Non-Vested Restricted Stock Grants [Member] | Unrestricted and Non-Vested Restricted Stock Grants [Member] | Unrestricted and Non-Vested Restricted Stock Grants [Member] | Unrestricted and Non-Vested Restricted Stock Grants [Member] | Unrestricted and Non-Vested Restricted Stock Grants [Member] | Unrestricted and Non-Vested Restricted Stock Grants [Member] | Restricted Stock [Member] | Restricted Stock [Member] | Restricted Stock [Member] | 2007 Journal Communications, Inc. Omnibus Incentive Plan [Member] | Employee Stock Purchase Plan [Member] | Employee Stock Purchase Plan [Member] | Employee Stock Purchase Plan [Member] | ||||
Non-Employee Directors [Member] | Non-Employee Directors [Member] | Employees [Member] | Employees [Member] | Minimum [Member] | Maximum [Member] | Class B Common Stock [Member] | Employees [Member] | ||||||||||||||
Class B Common Stock [Member] | |||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares available for issuance under the 2007 Plan (in shares) | ' | ' | ' | 4,800 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,335 | ' | ' | ' |
Stock-based compensation expense | $2,089 | $2,056 | $1,649 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total income tax benefit recognized related to stock-based compensation | 826 | 822 | 656 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total unrecognized compensation cost related to stock-based compensation awards | 1,836 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total unrecognized compensation cost, period for recognition | '1 year 1 month 6 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Non-vested at beginning of period (in shares) | ' | ' | ' | ' | 77 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 538 | ' | ' | ' | ' | ' | ' |
Granted (in shares) | ' | ' | ' | ' | 74 | 0 | ' | ' | 382 | 368 | 90 | 101 | 292 | 267 | 228 | ' | ' | ' | ' | 27 | ' |
Vested (in shares) | ' | ' | ' | ' | 0 | ' | ' | 192 | 185 | ' | ' | ' | ' | ' | -319 | ' | ' | ' | ' | ' | ' |
Forfeited (in shares) | ' | ' | ' | ' | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | -12 | ' | ' | ' | ' | ' | ' |
Non-vested at end of period (in shares) | ' | ' | ' | ' | 151 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 435 | ' | ' | ' | 2,162 | ' | ' |
Weighted Average Fair Value [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Non-vested at beginning of period (in dollars per share) | ' | ' | ' | ' | $5.59 | ' | ' | ' | ' | ' | ' | ' | ' | ' | $5.30 | ' | ' | ' | ' | ' | ' |
Granted (in dollars per share) | ' | ' | ' | ' | $6.33 | ' | ' | ' | $5.12 | $5.63 | ' | ' | ' | ' | $6.42 | ' | ' | ' | ' | ' | $5.63 |
Vested (in dollars per share) | ' | ' | ' | ' | $0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | $5.34 | ' | ' | ' | ' | ' | ' |
Forfeited (in dollars per share) | ' | ' | ' | ' | $0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | $5.56 | ' | ' | ' | ' | ' | ' |
Non-vested at end of period (in dollars per share) | ' | ' | ' | ' | $5.95 | ' | ' | ' | ' | ' | ' | ' | ' | ' | $5.85 | ' | ' | ' | ' | ' | ' |
Award vesting period | ' | ' | ' | ' | ' | '3 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | '1 year | '4 years | ' | ' | ' | ' |
Weighted average remaining service period fully vested | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '1 year 1 month 6 days | ' | ' | ' | ' | ' | ' |
Total fair value of shares vesting | ' | ' | ' | ' | ' | ' | ' | 928 | 1,003 | ' | ' | ' | ' | ' | 1,701 | ' | ' | ' | ' | ' | ' |
Stock appreciation rights [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Term during which any SAR may be exercised | ' | ' | ' | ' | ' | '10 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Escalating price per year on outstanding stock based payment awards (in hundredths) | ' | ' | ' | ' | ' | 6.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
SAR [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Outstanding and exercisable at beginning of period (in shares) | ' | ' | ' | ' | ' | 1,083 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Granted (in shares) | ' | ' | ' | ' | 74 | 0 | ' | ' | 382 | 368 | 90 | 101 | 292 | 267 | 228 | ' | ' | ' | ' | 27 | ' |
Exercised (in shares) | ' | ' | ' | ' | ' | -341 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Forfeited (in shares) | ' | ' | ' | ' | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | 12 | ' | ' | ' | ' | ' | ' |
Expired (in shares) | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Outstanding and exercisable at end of period (in shares) | ' | ' | ' | ' | ' | 742 | 1,083 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted Average Exercise Price [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Outstanding and exercisable at beginning of period (in dollars per share) | ' | ' | ' | ' | ' | $11.26 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exercised (in dollars per share) | ' | ' | ' | ' | ' | $7.57 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Outstanding and exercisable at end of period (in dollars per share) | ' | ' | ' | ' | ' | $13.30 | $11.26 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted Average Contractual Term Remaining (years) [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Outstanding and exercisable at beginning of period | ' | ' | ' | ' | ' | '3 years 10 months 24 days | '4 years 7 months 6 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Outstanding and exercisable at end of period | ' | ' | ' | ' | ' | '3 years 10 months 24 days | '4 years 7 months 6 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Aggregate intrinsic value of the SARs exercised | ' | ' | ' | ' | ' | 563 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Aggregate intrinsic value of the SARs outstanding and exercisable | ' | ' | ' | ' | ' | 18 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total grant date fair value | ' | ' | ' | ' | ' | ' | ' | $928 | $1,003 | ' | ' | ' | ' | ' | $1,701 | ' | ' | ' | ' | ' | ' |
Purchase price of common stock percent (in hundredths) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 90.00% | ' | ' |
Employee stock purchase plan discount percent (in hundredths) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10.00% | ' | ' |
Common stock authorized for sale under the plan | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,000 | ' |
VARIABLE_INTEREST_ENTITY_Detai
VARIABLE INTEREST ENTITY (Details) (USD $) | 12 Months Ended |
In Thousands, unless otherwise specified | Dec. 29, 2013 |
VARIABLE INTEREST ENTITY [Abstract] | ' |
Purchase price of assets of variable interest entity | $2,038 |
Consolidation of net assets of variable interest entity | $1,164 |
GOODWILL_BROADCAST_LICENSES_AN2
GOODWILL, BROADCAST LICENSES AND OTHER INTANGIBLE ASSETS (Details) (USD $) | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | |||||||||||||||||||||||||
In Thousands, unless otherwise specified | Dec. 25, 2011 | Dec. 29, 2013 | Dec. 30, 2012 | Dec. 25, 2011 | Dec. 29, 2013 | Dec. 30, 2012 | Dec. 25, 2011 | Dec. 29, 2013 | Dec. 30, 2012 | Dec. 30, 2012 | Dec. 30, 2012 | Dec. 29, 2013 | Dec. 30, 2012 | Dec. 25, 2011 | Dec. 30, 2012 | Dec. 30, 2012 | Dec. 29, 2013 | Dec. 30, 2012 | Dec. 25, 2011 | Dec. 29, 2013 | Dec. 30, 2012 | Dec. 25, 2011 | Dec. 29, 2013 | Dec. 29, 2013 | Dec. 29, 2013 | Dec. 30, 2012 | Dec. 29, 2013 | Dec. 30, 2012 | Dec. 29, 2013 | Dec. 29, 2013 | Dec. 29, 2013 | Dec. 30, 2012 | Dec. 29, 2013 | Dec. 30, 2012 | Dec. 29, 2013 |
Licenses | Licenses | Publishing [Member] | Publishing [Member] | Publishing [Member] | Broadcasting [Member] | Broadcasting [Member] | Television [Member] | Television [Member] | Television [Member] | Television [Member] | Television [Member] | Radio [Member] | Radio [Member] | Radio [Member] | Radio [Member] | Radio [Member] | Corporate [Member] | Corporate [Member] | Corporate [Member] | Minimum [Member] | Maximum [Member] | Network Affiliation Agreements [Member] | Network Affiliation Agreements [Member] | Customer Lists [Member] | Customer Lists [Member] | Customer Lists [Member] | Customer Lists [Member] | Non-compete Agreements [Member] | Non-compete Agreements [Member] | Other [Member] | Other [Member] | Trade Names [Member] | |||
Minimum [Member] | Maximum [Member] | ||||||||||||||||||||||||||||||||||
Finite-Lived Intangibles [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amortization period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '5 years | '25 years | '25 years | ' | ' | ' | '5 years | '15 years | ' | ' | ' | ' | '25 years |
Significant adverse changes in value of assets | ' | ' | $0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amortization expense | ' | 2,855 | 1,601 | 1,391 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Period of estimation of amortization expense | ' | '5 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Estimated amortization expense for 2014 | ' | 2,818 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Estimated amortization expense for 2015 | ' | 2,809 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Estimated amortization expense for 2016 | ' | 2,809 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Estimated amortization expense for 2017 | ' | 2,784 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Estimated amortization expense for 2018 | ' | 2,784 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Gross carrying amount, accumulated amortization and net carrying amount of the major classes of definite-lived intangible assets [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Gross Carrying Amount | ' | 81,463 | 81,463 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 66,078 | 66,078 | 4,149 | 4,149 | ' | ' | 8,510 | 8,510 | 2,726 | 2,726 | ' |
Accumulated Amortization | ' | -23,700 | -20,845 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -9,905 | -7,261 | -3,661 | -3,525 | ' | ' | -8,510 | -8,501 | -1,624 | -1,558 | ' |
Net Carrying Amount | ' | 57,763 | 60,618 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 56,173 | 58,817 | 488 | 624 | ' | ' | 0 | 9 | 1,102 | 1,168 | ' |
Write off of intangible assets | ' | ' | 390 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted average amortization period [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted average amortization period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '25 years | ' | '9 years | ' | ' | ' | '5 years | ' | '16 years | ' | ' |
Broadcast Licenses [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net carrying value of broadcast licenses | ' | 135,166 | 129,566 | ' | ' | ' | ' | 135,166 | 129,566 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of television broadcast licenses that were impaired | ' | ' | 1 | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of radio broadcast licenses that were impaired | ' | ' | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Estimated fair value | ' | ' | ' | ' | ' | ' | ' | ' | ' | 33,807 | 33,807 | ' | 33,807 | 34,471 | 46,059 | 46,059 | ' | 46,059 | 47,013 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Non-cash impairment charge | 735 | 0 | 1,616 | 735 | 0 | 0 | 0 | ' | ' | 887 | 664 | 0 | 664 | 735 | 729 | 952 | 0 | 952 | 0 | 0 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Goodwill impairment | ' | ' | ' | 0 | 0 | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Goodwill [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Adjustment of Nashville NewsChannel 5 Network, LLC Goodwill | ' | -1,447 | ' | ' | 0 | ' | ' | ' | ' | ' | ' | -1,447 | ' | ' | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Goodwill related to the sale of a business | ' | ' | -923 | ' | ' | -923 | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Goodwill related to the purchase of a business | ' | 331 | 118,071 | ' | 0 | 0 | ' | ' | ' | ' | ' | 0 | 116,124 | ' | ' | ' | 331 | 1,947 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Goodwill | 254,555 | 370,587 | 371,703 | 254,555 | 19,656 | 19,656 | 20,579 | ' | ' | 285,142 | 285,142 | 283,695 | 285,142 | 169,018 | 66,905 | 66,905 | 67,236 | 66,905 | 64,958 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accumulated impairment losses | -245,885 | -245,885 | -245,885 | -245,885 | -16,722 | -16,722 | -16,722 | ' | ' | -164,205 | -164,205 | -164,205 | -164,205 | -164,205 | -64,958 | -64,958 | -64,958 | -64,958 | -64,958 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accumulated impairment loss adjustment for segment reporting | ' | 0 | ' | ' | 0 | ' | ' | ' | ' | ' | ' | -30,731 | ' | ' | ' | ' | 30,731 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Goodwill, balance | $8,670 | $124,702 | $125,818 | $8,670 | $2,934 | $2,934 | $3,857 | ' | ' | $120,937 | $120,937 | $88,759 | $120,937 | $4,813 | $1,947 | $1,947 | $33,009 | $1,947 | $0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
ACQUISITIONS_AND_DIVESTITURES_1
ACQUISITIONS AND DIVESTITURES (Details) (USD $) | 3 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 12 Months Ended | ||||||||||||||||||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 30, 2012 | Sep. 25, 2011 | Jun. 26, 2011 | Dec. 29, 2013 | Dec. 30, 2012 | Dec. 25, 2011 | Dec. 29, 2013 | Dec. 30, 2012 | Dec. 25, 2011 | Dec. 29, 2013 | Dec. 30, 2012 | Dec. 25, 2011 | Dec. 29, 2013 | Dec. 29, 2013 | Dec. 30, 2012 | Dec. 25, 2011 | Dec. 29, 2013 | Dec. 29, 2013 | Dec. 30, 2012 | Dec. 29, 2013 | Dec. 30, 2012 | Dec. 30, 2012 | Dec. 06, 2012 | Dec. 30, 2012 | Dec. 30, 2012 | Dec. 30, 2012 | Dec. 30, 2012 | Dec. 30, 2012 | Dec. 30, 2012 | Dec. 29, 2013 |
State | Television [Member] | Television [Member] | Television [Member] | Radio [Member] | Radio [Member] | Radio [Member] | Broadcasting [Member] | Publishing [Member] | Publishing [Member] | Publishing [Member] | KMIR-TV and My 13 KPSE-TV [Member] | WNOX FM 100.3 [Member] | WNOX FM 100.3 [Member] | My 13 KPSE TV [Member] | KHTT-FM and KBEZ-FM [Member] | NewsChannel 5 Network, LLC [Member] | NewsChannel 5 Network, LLC [Member] | WKTI-AM in Knoxville, Tennessee [Member] | Tulsa, Oklahoma [Member] | Affiliation Agreement ACE TV [Member] | Hodag Buyers' Guide and Other Miscellaneous [Member] | Hodag Buyers' Guide and Other Miscellaneous [Member] | Hodag Buyers' Guide and Other Miscellaneous [Member] | Knoxville, Tennessee [Member] | ||||||
Station | Cash [Member] | Promissory Note [Member] | Station | |||||||||||||||||||||||||||
Business Acquisition [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Effective date of business acquisition | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3-May-13 | ' | ' | 25-Jun-12 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash Paid to acquire the entity | ' | ' | ' | $5,955 | $231,728 | $0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $5,955 | ' | ' | $11,728 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of radio stations | ' | ' | ' | 35 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5 | ' | ' | ' | ' | 4 |
Identifiable Assets acquired and Liabilities assumed [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Property and equipment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 24 | ' | 181 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Tangible assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 13,383 | ' | ' | ' | ' | ' | ' | ' | ' |
Long-term assets, other | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 48 | ' | ' | ' | ' | ' | ' | ' | ' |
Working capital | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8,292 | ' | ' | ' | ' | ' | ' | ' | ' |
Network affiliation agreements | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 43,500 | ' | ' | ' | ' | ' | ' | ' | ' |
FCC licenses | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 40,100 | ' | ' | ' | ' | ' | ' | ' | ' |
Goodwill | 125,818 | ' | ' | 124,702 | 125,818 | 8,670 | 88,759 | 120,937 | 4,813 | 33,009 | 1,947 | 0 | ' | 2,934 | 2,934 | 3,857 | ' | 331 | 331 | ' | 1,947 | 114,677 | ' | ' | ' | ' | ' | ' | ' | ' |
Broadcast licenses | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,600 | ' | 9,600 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total purchase price | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,955 | ' | 11,728 | 220,000 | 222,000 | ' | ' | 2,038 | ' | ' | ' | ' |
Proceeds from sale of businesses | ' | 757 | 502 | 0 | 2,892 | 1,574 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 17,000 | ' | ' | 17,000 | ' | ' | ' | 65 | ' | ' | ' | 1,200 | 772 | ' |
Pre-tax gain on sale, net of transaction expenses | -319 | 253 | 245 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10,200 | ' | ' | 9,000 | ' | ' | ' | 48 | ' | ' | 319 | ' | ' | ' |
License expiration year | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '2021 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maximum working capital adjustment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,000 | ' | ' | ' | ' | ' | ' | ' |
Revenue contributed | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,917 | ' | ' | ' | ' | ' | ' | ' | ' |
Pro Forma Results of Operations [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenue | ' | ' | ' | ' | 439,732 | 399,313 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Earnings per share from continuing operations, diluted (in dollars per share) | ' | ' | ' | ' | $0.71 | $0.47 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Earnings from continuing operations before income taxes | ' | ' | ' | 43,422 | 54,270 | 36,017 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,730 | ' | ' | ' | ' | ' | ' | ' | ' |
Acquisition and integration related costs | 2,152 | ' | ' | ' | 3,145 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash and cash equivalents | ' | ' | ' | 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Receivables, net | ' | ' | ' | 1,149 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Prepaid expenses and other current assets | ' | ' | ' | 11 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Program and barter rights | ' | ' | ' | 620 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Deferred income taxes | ' | ' | ' | 713 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Property and equipment, net | ' | ' | ' | 1,852 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Network affiliations, net | ' | ' | ' | 1,935 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Income tax receivable | ' | ' | ' | 767 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total assets of discontinued operations | ' | ' | ' | 7,048 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accounts payable | ' | ' | ' | 37 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accrued compensation | ' | ' | ' | 133 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Deferred revenue | ' | ' | ' | 57 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Syndicated programs | ' | ' | ' | 640 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other current liabilities | ' | ' | ' | 18 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total liabilities of discontinued operations | ' | ' | ' | $885 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
DISCONTINUED_OPERATIONS_Detail
DISCONTINUED OPERATIONS (Details) (USD $) | 3 Months Ended | 12 Months Ended | ||||
In Thousands, unless otherwise specified | Dec. 30, 2012 | Sep. 25, 2011 | Jun. 26, 2011 | Dec. 29, 2013 | Dec. 30, 2012 | Dec. 25, 2011 |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ' | ' | ' | ' | ' | ' |
Proceeds from sale of businesses | ' | $757 | $502 | $0 | $2,892 | $1,574 |
Pre-tax gain on the sale | -319 | 253 | 245 | ' | ' | ' |
NorthStar Print Group, Inc. [Member] | ' | ' | ' | ' | ' | ' |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ' | ' | ' | ' | ' | ' |
Net proceeds | ' | ' | ' | ' | ' | 822 |
Pre-tax gain | ' | ' | ' | ' | ' | 610 |
Revenue and earnings before income taxes as reported in earnings from discontinued operations [Abstract] | ' | ' | ' | ' | ' | ' |
Revenue | ' | ' | ' | 0 | 0 | 0 |
Earnings before income taxes | ' | ' | ' | 0 | 0 | 562 |
Palm Springs [Member] | ' | ' | ' | ' | ' | ' |
Revenue and earnings before income taxes as reported in earnings from discontinued operations [Abstract] | ' | ' | ' | ' | ' | ' |
Revenue | ' | ' | ' | 5,483 | 6,924 | 5,341 |
Earnings before income taxes | ' | ' | ' | -62 | 1,262 | 240 |
KMIR-TV and My 13 KPSE-TV [Member] | ' | ' | ' | ' | ' | ' |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ' | ' | ' | ' | ' | ' |
Proceeds from sale of businesses | ' | ' | ' | 17,000 | ' | ' |
Pre-tax gain on the sale | ' | ' | ' | $10,200 | ' | ' |
WORKFORCE_REDUCTION_Details
WORKFORCE REDUCTION (Details) (USD $) | 12 Months Ended | |
Dec. 29, 2013 | Dec. 30, 2012 | |
Restructuring Reserve [Roll Forward] | ' | ' |
Balance | $809,000,000 | $1,780,000,000 |
Charge for Separation Benefits | 863,000,000 | 1,655,000,000 |
Payments for Separation Benefits | -1,299,000,000 | -2,626,000,000 |
Balance | 373,000,000 | 809,000,000 |
Increase in employees (in hundredths) | 5.20% | ' |
Television [Member] | ' | ' |
Restructuring Reserve [Roll Forward] | ' | ' |
Balance | 0 | ' |
Charge for Separation Benefits | 56,000,000 | ' |
Payments for Separation Benefits | -13,000,000 | ' |
Balance | 43,000,000 | ' |
Publishing [Member] | ' | ' |
Restructuring Reserve [Roll Forward] | ' | ' |
Balance | 809,000,000 | 1,780,000,000 |
Charge for Separation Benefits | 807,000,000 | 1,655,000,000 |
Payments for Separation Benefits | -1,286,000,000 | -2,626,000,000 |
Balance | 330,000,000 | 809,000,000 |
Publishing Operating Costs and Expenses [Member] | ' | ' |
Restructuring Reserve [Roll Forward] | ' | ' |
Charge for Separation Benefits | 698,000 | ' |
Selling and Administrative Expenses [Member] | ' | ' |
Restructuring Reserve [Roll Forward] | ' | ' |
Charge for Separation Benefits | 165,000 | ' |
Pre tax Charge For Separation Benefits [Member] | ' | ' |
Restructuring Reserve [Roll Forward] | ' | ' |
Charge for Separation Benefits | $863,000 | ' |
RELATED_PARTY_TRANSACTIONS_Det
RELATED PARTY TRANSACTIONS (Details) (USD $) | 12 Months Ended | 12 Months Ended | 0 Months Ended | 3 Months Ended | 12 Months Ended | ||||||||||
In Thousands, unless otherwise specified | Dec. 29, 2013 | Dec. 30, 2012 | Dec. 25, 2011 | Dec. 30, 2012 | Dec. 21, 2012 | Sep. 21, 2012 | Dec. 29, 2013 | Dec. 30, 2012 | Dec. 29, 2013 | Sep. 30, 2013 | Dec. 21, 2012 | Dec. 21, 2013 | Sep. 23, 2012 | Dec. 30, 2012 | Dec. 29, 2013 |
Unsecured Subordinated Promissory Notes [Member] | Unsecured Subordinated Promissory Notes [Member] | Unsecured Subordinated Promissory Notes [Member] | Unsecured Subordinated Promissory Notes [Member] | Unsecured Subordinated Promissory Notes [Member] | Unsecured Subordinated Promissory Notes [Member] | Subordinated Promissory Notes [Member] | Subordinated Promissory Notes [Member] | Subordinated Promissory Notes [Member] | Class C [Member] | Class C [Member] | Class B [Member] | ||||
Note | Judith Abert Meissner Marital Trust [Member] | Judith Abert Meissner Marital Trust [Member] | Mr. Meissner [Member] | Note | Note | Judith Abert Meissner Marital Trust [Member] | |||||||||
Note | Note | Note | Minimum [Member] | ||||||||||||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock repurchased during period (in shares) | ' | 3,264 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,264 | 3,264 | ' |
Payments for repurchase of common stock | $0 | $6,246 | $0 | ' | ' | ' | ' | ' | ' | $2,655 | ' | ' | $6,246 | $6,246 | ' |
Number of promissory notes issued | ' | ' | ' | 15 | ' | ' | 6 | 1 | 3 | 8 | 1 | ' | ' | ' | ' |
Aggregate principal amount of promissory notes | ' | ' | ' | 25,599 | 8,324 | 1,340 | 9,664 | 7,617 | 752 | 13,279 | ' | 2,000 | ' | ' | ' |
Interest rate of notes issued (in hundredths) | ' | ' | ' | 7.25% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Beneficial ownership percentage (in hundredths) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.00% |
Frequency of periodic payment | ' | 'equal annual installments on September 30 of each of 2014, 2015, 2016, 2017 and 2018 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Related party transaction amounts | ' | $2,042 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
SEGMENT_REPORTING_Details
SEGMENT REPORTING (Details) (USD $) | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | |||||||||||||||||||||||||||
In Thousands, unless otherwise specified | Dec. 29, 2013 | Sep. 29, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 30, 2012 | Sep. 23, 2012 | Jun. 24, 2012 | Mar. 25, 2012 | Dec. 25, 2011 | Dec. 29, 2013 | Dec. 30, 2012 | Dec. 25, 2011 | Dec. 30, 2012 | Dec. 30, 2012 | Dec. 29, 2013 | Dec. 30, 2012 | Dec. 25, 2011 | Dec. 30, 2012 | Dec. 30, 2012 | Dec. 29, 2013 | Dec. 30, 2012 | Dec. 25, 2011 | Dec. 29, 2013 | Dec. 30, 2012 | Dec. 25, 2011 | Dec. 29, 2013 | Dec. 30, 2012 | Dec. 25, 2011 | Dec. 29, 2013 | Dec. 30, 2012 | Dec. 25, 2011 | Dec. 29, 2013 | Dec. 30, 2012 |
Business | Station | Television [Member] | Television [Member] | Television [Member] | Television [Member] | Television [Member] | Radio [Member] | Radio [Member] | Radio [Member] | Radio [Member] | Radio [Member] | Publishing [Member] | Publishing [Member] | Publishing [Member] | Corporate [Member] | Corporate [Member] | Corporate [Member] | Corporate [Member] | Corporate [Member] | Corporate [Member] | Corporate And Discontinued Operations [Member] | Corporate And Discontinued Operations [Member] | |||||||||||
State | Segment | ||||||||||||||||||||||||||||||||
Business | |||||||||||||||||||||||||||||||||
State | |||||||||||||||||||||||||||||||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of reportable segments | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of television stations | ' | ' | ' | ' | ' | ' | ' | ' | ' | 14 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of states where television segment operates | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of radio stations | 35 | ' | ' | ' | ' | ' | ' | ' | ' | 35 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of states where radio segment operates | 8 | ' | ' | ' | ' | ' | ' | ' | ' | 8 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Summarization of revenue, operating earnings (loss), depreciation and amortization and capital expenditures and identifiable total assets [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenue | $107,366 | $96,919 | $99,778 | $93,204 | $122,158 | $96,219 | $94,068 | $80,673 | ' | $397,267 | $393,118 | $351,452 | ' | ' | $166,616 | $152,444 | $110,372 | ' | ' | $76,816 | $76,259 | $70,367 | $154,558 | $164,947 | $170,976 | ($723) | ($532) | ($263) | ($723) | ($532) | ($263) | ' | ' |
Operating earnings (loss) | ' | ' | ' | ' | ' | ' | ' | ' | ' | 51,316 | 58,731 | 39,542 | ' | ' | 31,395 | 41,005 | 15,708 | ' | ' | 14,017 | 13,962 | 15,053 | 13,778 | 11,622 | 15,901 | -7,874 | -7,858 | -7,120 | ' | ' | ' | ' | ' |
Broadcast license impairment | ' | ' | ' | ' | ' | ' | ' | ' | 735 | 0 | 1,616 | 735 | 887 | 664 | 0 | 664 | 735 | 729 | 952 | 0 | 952 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ' | ' | ' | ' | ' |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | ' | 22,913 | 22,038 | 22,642 | ' | ' | 13,192 | 9,925 | 9,424 | ' | ' | 2,002 | 2,276 | 2,184 | 7,058 | 9,170 | 10,412 | 661 | 667 | 622 | ' | ' | ' | ' | ' |
Capital expenditures | ' | ' | ' | ' | ' | ' | ' | ' | ' | 12,440 | 12,305 | 10,590 | ' | ' | 8,360 | 8,656 | 7,595 | ' | ' | 1,508 | 1,663 | 865 | 2,498 | 1,240 | 987 | 74 | 746 | 1,143 | ' | ' | ' | ' | ' |
Identifiable total assets | $596,018 | ' | ' | ' | $625,803 | ' | ' | ' | ' | $596,018 | $625,803 | ' | $398,795 | $398,795 | $356,032 | $398,795 | ' | $77,202 | $77,202 | $111,473 | $77,202 | ' | $96,991 | $103,360 | ' | ' | ' | ' | ' | ' | ' | $31,522 | $46,446 |
QUARTERLY_FINANCIAL_INFORMATIO2
QUARTERLY FINANCIAL INFORMATION (UNAUDITED) (Details) (USD $) | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | |||||||||||||||||||||||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 29, 2013 | Sep. 29, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 30, 2012 | Sep. 23, 2012 | Jun. 24, 2012 | Mar. 25, 2012 | Dec. 25, 2011 | Sep. 25, 2011 | Jun. 26, 2011 | Dec. 29, 2013 | Dec. 30, 2012 | Dec. 25, 2011 | Dec. 30, 2012 | Dec. 30, 2012 | Dec. 29, 2013 | Dec. 30, 2012 | Dec. 25, 2011 | Dec. 30, 2012 | Dec. 30, 2012 | Dec. 29, 2013 | Dec. 30, 2012 | Dec. 25, 2011 | Dec. 29, 2013 | Dec. 30, 2012 | Dec. 25, 2011 | Dec. 29, 2013 | Dec. 30, 2012 | Dec. 25, 2011 | Dec. 29, 2013 | Dec. 30, 2012 | Dec. 25, 2011 |
Television [Member] | Television [Member] | Television [Member] | Television [Member] | Television [Member] | Radio [Member] | Radio [Member] | Radio [Member] | Radio [Member] | Radio [Member] | Publishing [Member] | Publishing [Member] | Publishing [Member] | Corporate [Member] | Corporate [Member] | Corporate [Member] | Corporate [Member] | Corporate [Member] | Corporate [Member] | |||||||||||||||
Selected Quarterly Financial Information [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenue | $107,366 | $96,919 | $99,778 | $93,204 | $122,158 | $96,219 | $94,068 | $80,673 | ' | ' | ' | $397,267 | $393,118 | $351,452 | ' | ' | $166,616 | $152,444 | $110,372 | ' | ' | $76,816 | $76,259 | $70,367 | $154,558 | $164,947 | $170,976 | ($723) | ($532) | ($263) | ($723) | ($532) | ($263) |
Gross profit | 51,541 | 40,277 | 45,411 | 40,801 | 65,377 | 43,906 | 45,573 | 33,013 | ' | ' | ' | 178,030 | 187,869 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net earnings | 11,260 | 4,546 | 6,602 | 3,793 | 15,097 | 7,698 | 7,611 | 2,919 | ' | ' | ' | 26,201 | 33,325 | 22,186 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Earnings per share | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Basic - class A and B common stock (in dollars per share) | $0.22 | $0.09 | $0.13 | $0.08 | $0.30 | $0.14 | $0.13 | $0.05 | ' | ' | ' | $0.52 | $0.61 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Diluted - class A and B common stock (in dollars per share) | $0.22 | $0.09 | $0.13 | $0.08 | $0.30 | $0.14 | $0.13 | $0.05 | ' | ' | ' | $0.52 | $0.61 | $0.37 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Basic and diluted - class C common stock (in dollars per share) | ' | ' | ' | ' | $0 | $0.15 | $0.28 | $0.19 | ' | ' | ' | ' | $0.74 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Pre-tax charge for separation benefits | 35 | 80 | 716 | 32 | 29 | 553 | 1,035 | 38 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Pre-tax long-lived asset impairment charge | ' | ' | ' | ' | ' | 493 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Broadcast license impairment | ' | ' | ' | ' | ' | ' | ' | ' | 735 | ' | ' | 0 | 1,616 | 735 | 887 | 664 | 0 | 664 | 735 | 729 | 952 | 0 | 952 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ' | ' | ' |
Pre-tax gain on the sale | ' | ' | ' | ' | ($319) | ' | ' | ' | ' | $253 | $245 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
ACCUMULATED_OTHER_COMPREHENSIV2
ACCUMULATED OTHER COMPREHENSIVE LOSS (Details) (USD $) | 12 Months Ended | |||
In Thousands, unless otherwise specified | Dec. 29, 2013 | Dec. 30, 2012 | Dec. 25, 2011 | |
Changes in accumulated other comprehensive loss [Roll Forward] | ' | ' | ' | |
Beginning balance | ($55,739) | ' | ' | |
Net actuarial gain and amounts reclassified from accumulated other comprehensive loss | 16,085 | ' | ' | |
Net other comprehensive income (loss) | 16,085 | ' | ' | |
Ending balance | -39,654 | -55,739 | ' | |
Reclassification of accumulated other comprehensive loss [Abstract] | ' | ' | ' | |
Operating costs and expenses | 219,237 | 205,249 | 198,709 | |
Selling and administrative expenses | 126,714 | 127,522 | 112,466 | |
Total reclassifications for the period | -16,085 | ' | ' | |
Television [Member] | ' | ' | ' | |
Reclassification of accumulated other comprehensive loss [Abstract] | ' | ' | ' | |
Operating costs and expenses | 85,945 | 67,451 | 59,930 | |
Radio [Member] | ' | ' | ' | |
Reclassification of accumulated other comprehensive loss [Abstract] | ' | ' | ' | |
Operating costs and expenses | 33,040 | 31,041 | 29,485 | |
Publishing [Member] | ' | ' | ' | |
Reclassification of accumulated other comprehensive loss [Abstract] | ' | ' | ' | |
Operating costs and expenses | 100,973 | 107,289 | 109,557 | |
Corporate [Member] | ' | ' | ' | |
Reclassification of accumulated other comprehensive loss [Abstract] | ' | ' | ' | |
Operating costs and expenses | -721 | -532 | -263 | |
Defined Benefit Pension and Postretirement Plans [Member] | ' | ' | ' | |
Changes in accumulated other comprehensive loss [Roll Forward] | ' | ' | ' | |
Beginning balance | -55,739 | ' | ' | |
Net actuarial gain and amounts reclassified from accumulated other comprehensive loss | 16,085 | ' | ' | |
Net other comprehensive income (loss) | 16,085 | ' | ' | |
Ending balance | -39,654 | ' | ' | |
Reclassification of accumulated other comprehensive loss [Abstract] | ' | ' | ' | |
Total reclassifications for the period | -16,085 | ' | ' | |
Defined Benefit Pension and Postretirement Plans [Member] | Amounts reclassified from accumulated other comprehensive income to: [Member] | ' | ' | ' | |
Changes in accumulated other comprehensive loss [Roll Forward] | ' | ' | ' | |
Net actuarial gain and amounts reclassified from accumulated other comprehensive loss | 16,085 | ' | ' | |
Reclassification of accumulated other comprehensive loss [Abstract] | ' | ' | ' | |
Prior service cost and unrecognized loss | -2,558 | [1] | ' | ' |
Income tax expense | 10,176 | ' | ' | |
Net actuarial (Gain) | -23,703 | ' | ' | |
Selling and administrative expenses | 956 | ' | ' | |
Total reclassifications for the period | -16,085 | ' | ' | |
Defined Benefit Pension and Postretirement Plans [Member] | Amounts reclassified from accumulated other comprehensive income to: [Member] | Television [Member] | ' | ' | ' | |
Reclassification of accumulated other comprehensive loss [Abstract] | ' | ' | ' | |
Operating costs and expenses | 263 | ' | ' | |
Defined Benefit Pension and Postretirement Plans [Member] | Amounts reclassified from accumulated other comprehensive income to: [Member] | Radio [Member] | ' | ' | ' | |
Reclassification of accumulated other comprehensive loss [Abstract] | ' | ' | ' | |
Operating costs and expenses | 176 | ' | ' | |
Defined Benefit Pension and Postretirement Plans [Member] | Amounts reclassified from accumulated other comprehensive income to: [Member] | Publishing [Member] | ' | ' | ' | |
Reclassification of accumulated other comprehensive loss [Abstract] | ' | ' | ' | |
Operating costs and expenses | $1,163 | ' | ' | |
[1] | These accumulated other comprehensive loss components are included in the computation of net periodic pension and postretirement cost. See Note 3 "Employee Benefit Plans" for more information. Of the costs for the year ended December 29, 2013, $263 is included in television operating costs and expenses, $176 is included in radio operating costs and expenses $1,163 is included in publishing operating costs and expenses, and $956 is included in selling and administrative expenses. |
SUBSEQUENT_EVENTS_Details
SUBSEQUENT EVENTS (Details) (USD $) | Jul. 30, 2014 | Jan. 01, 2014 | Jan. 22, 2014 | Jul. 30, 2014 | Jun. 29, 2014 | Jul. 30, 2014 | Jul. 30, 2014 | Jul. 30, 2014 | Jul. 30, 2014 | Jul. 30, 2014 | Jul. 30, 2014 | Jul. 30, 2014 |
In Thousands, except Share data, unless otherwise specified | Company | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] |
Business | Journal Media Group [Member] | Journal Media Group [Member] | Journal Communications Class A and Class B Shareholders [Member] | Journal Communications Class A and Class B Shareholders [Member] | Scripps Shareholders [Member] | Scripps Shareholders [Member] | Scripps [Member] | Scripps [Member] | Scripps [Member] | |||
Market | Journal Media Group [Member] | Journal Media Group [Member] | Journal Media Group [Member] | Journal Media Group [Member] | Journal Communications Class A and Class B Shareholders [Member] | Journal Communications Class A and Class B Shareholders [Member] | Scripps Shareholders [Member] | |||||
Common Stock [Member] | Common Stock [Member] | Class A Common Stock [Member] | ||||||||||
Subsequent Event [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amount of station sold as per agreement | ' | $17,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Pre-tax gain on sale | ' | 10,200 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of primary businesses | ' | ' | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of traded public companies | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of markets | ' | ' | ' | 13 | ' | ' | ' | ' | ' | ' | ' | ' |
Shares to be received (in shares) | ' | ' | ' | ' | ' | ' | 0.195 | ' | 0.25 | ' | 0.5176 | ' |
Percentage of shares owned (in hundredths) | ' | ' | ' | ' | ' | 41.00% | ' | 59.00% | ' | 31.00% | ' | 69.00% |
Transaction costs | ' | ' | ' | ' | $315 | ' | ' | ' | ' | ' | ' | ' |