Gannett (GCI) 10-Q 27 Oct 16 2016 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 25, 2016	Oct. 26, 2016
Document and Entity Information [Abstract]
Entity Registrant Name	New Media Investment Group Inc.
Trading Symbol	NEWM
Entity Central Index Key	1,579,684
Document Type	10-Q
Document Period End Date	Sep. 25, 2016
Amendment Flag	false
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--12-25
Entity Filer Category	Large Accelerated Filer
Entity Common Stock Shares Outstanding		44,870,143

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 25, 2016	Dec. 27, 2015
Current assets:
Cash and cash equivalents	$ 54,520	$ 146,638
Restricted cash	3,706	6,967
Accounts receivable, net of allowance for doubtful accounts of $4,785 and $4,479 at September 25, 2016 and December 27, 2015, respectively	125,485	136,249
Inventory	17,279	15,744
Prepaid expenses	17,540	14,549
Other current assets	16,971	11,763
Total current assets	235,501	331,910
Property, plant, and equipment, net of accumulated depreciation of $119,095 and $85,038 at September 25, 2016 and December 27, 2015, respectively	379,449	384,824
Goodwill	219,971	171,119
Intangible assets, net of accumulated amortization of $38,131 and $23,122 at September 25, 2016 and December 27, 2015, respectively	346,385	303,575
Other assets	7,722	5,692
Total assets	1,189,028	1,197,120
Current liabilities:
Current portion of long-term debt	13,509	3,509
Accounts payable	12,483	9,571
Accrued expenses	84,752	100,173
Deferred revenue	73,350	62,294
Total current liabilities	184,094	175,547
Long-term liabilities:
Long-term debt	339,918	350,266
Long-term liabilities, less current portion	12,283	9,192
Deferred income taxes	5,665	3,988
Pension and other postretirement benefit obligations	25,531	11,054
Total liabilities	567,491	550,047
Stockholders’ equity:
Common stock, $0.01 par value, 2,000,000,000 shares authorized at September 25, 2016 and December 27, 2015; 44,913,021 and 44,710,497 issued at September 25, 2016 and December 27, 2015, respectively	445	445
Additional paid-in capital	607,104	605,033
Accumulated other comprehensive loss	(3,097)	(3,158)
Retained earnings	17,502	44,753
Treasury stock, at cost, 46,438 and 0 shares at September 25, 2016 and December 27, 2015, respectively	(417)	0
Total stockholders’ equity	621,537	647,073
Total liabilities and stockholders’ equity	$ 1,189,028	$ 1,197,120

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 25, 2016	Dec. 27, 2015
Statement of Financial Position [Abstract]
Accounts receivable, allowance for doubtful accounts	$ 4,785	$ 4,479
Property, plant and equipment, accumulated depreciation	119,095	85,038
Intangible assets, accumulated amortization	$ 38,131	$ 23,122
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	2,000,000,000	2,000,000,000
Common stock, shares issued	44,913,021	44,710,497
Treasury stock, shares	46,438	0

Unaudited Condensed Consolidate

Unaudited Condensed Consolidated Statements of Operations and Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 25, 2016	Sep. 27, 2015	Sep. 25, 2016	Sep. 27, 2015
Revenues:
Advertising	$ 164,683	$ 178,964	$ 502,474	$ 500,105
Circulation	104,693	100,442	312,664	273,255
Commercial printing and other	37,461	32,650	106,633	88,806
Total revenues	306,837	312,056	921,771	862,166
Operating costs and expenses:
Operating costs	172,972	175,758	519,982	476,830
Selling, general, and administrative	100,052	99,863	306,165	288,660
Depreciation and amortization	17,014	18,213	50,364	51,301
Integration and reorganization costs	5,197	1,638	7,532	5,221
Loss on sale or disposal of assets	974	1,936	3,325	3,407
Operating income	10,628	14,648	34,403	36,747
Interest expense	7,391	7,820	22,269	24,435
Other (income) expense	(62)	10	(316)	(8)
Income before income taxes	3,299	6,818	12,450	12,320
Income tax expense (benefit)	504	710	(4,695)	1,083
Net income	$ 2,795	$ 6,108	$ 17,145	$ 11,237
Basic:
Net income (in dollars per share)	$ 0.06	$ 0.14	$ 0.39	$ 0.26
Diluted:
Net income (in dollars per share)	0.06	0.14	0.38	0.25
Dividends declared per share (in dollars per share)	$ 0.33	$ 0.33	$ 0.99	$ 0.96
Comprehensive income	$ 2,815	$ 6,132	$ 17,206	$ 11,307

Unaudited Condensed Consolidat5

Unaudited Condensed Consolidated Statement of Stockholders' Equity - USD ($) $ in Thousands	Total	Common stock [Member]	Additional paid-in capital [Member]	Accumulated other comprehensive income (loss) [Member]	Retained earnings [Member]	Treasury stock [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	$ 11,237
Shares, beginning balance at Dec. 27, 2015		44,710,497				0
Stockholders' equity, beginning balance at Dec. 27, 2015	647,073	$ 445	$ 605,033	$ (3,158)	$ 44,753	$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	17,145				17,145
Net actuarial loss and prior service cost, net of income taxes of $0	61			61
Restricted share grants, shares		202,524
Restricted share grants	225		225
Non-cash compensation expense	1,846		1,846
Purchase of treasury stock, shares						46,438
Purchase of treasury stock	(417)					$ (417)
Common stock cash dividend	(44,396)				(44,396)
Shares, ending balance at Sep. 25, 2016		44,913,021				46,438
Stockholders' equity, ending balance at Sep. 25, 2016	$ 621,537	$ 445	$ 607,104	$ (3,097)	$ 17,502	$ (417)

Unaudited Condensed Consolidat6

Unaudited Condensed Consolidated Statement of Stockholders’ Equity (Parenthetical) $ in Thousands	9 Months Ended
	Sep. 25, 2016USD ($)
Statement of Stockholders' Equity [Abstract]
Net actuarial loss and prior service cost, income tax	$ 0

Unaudited Condensed Consolidat7

Unaudited Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 25, 2016	Sep. 27, 2015
Cash flows from operating activities:
Net income	$ 17,145	$ 11,237
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	50,364	51,791
Non-cash compensation expense	1,846	910
Non-cash interest expense	2,089	1,598
Deferred income taxes	(4,983)	903
Loss on sale or disposal of assets	3,325	3,407
Pension and other postretirement benefit obligations	(1,797)	(1,055)
Changes in assets and liabilities:
Accounts receivable, net	24,170	12,852
Inventory	(835)	1,038
Prepaid expenses	(1,051)	1,403
Other assets	(1,858)	(1,128)
Accounts payable	(987)	(6,847)
Accrued expenses	(19,514)	28,533
Deferred revenue	(1,809)	(2,345)
Other long-term liabilities	1,207	2,533
Net cash provided by operating activities	67,312	104,830
Cash flows from investing activities:
Purchases of property, plant, and equipment	(7,731)	(6,385)
Proceeds from sale of publications and other assets	3,234	1,381
Acquisitions, net of cash acquired	(107,712)	(430,126)
Net cash used in investing activities	(112,209)	(435,130)
Cash flows from financing activities:
Payment of debt issuance costs	0	(529)
Borrowings under term loans	0	122,872
Borrowings under revolving credit facility	0	84,000
Repayments under term loans	(2,632)	(2,258)
Repayments under revolving credit facility	0	(74,000)
Payment of offering costs	0	(1,343)
Issuance of common stock, net of underwriter’s discount	0	150,866
Purchase of treasury stock	(417)	0
Payment of dividends	(44,172)	(42,687)
Net cash (used in) provided by financing activities	(47,221)	236,921
Net decrease in cash and cash equivalents	(92,118)	(93,379)
Cash and cash equivalents at beginning of period	146,638	123,709
Cash and cash equivalents at end of period	$ 54,520	$ 30,330

Unaudited Financial Statements

Unaudited Financial Statements	9 Months Ended
	Sep. 25, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Unaudited Financial Statements	Unaudited Financial Statements The accompanying unaudited condensed consolidated financial statements of New Media Investment Group Inc. and its subsidiaries (together, the “Company” or “New Media”) have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and the instructions to Form 10-Q and applicable provisions of Regulation S-X, each as promulgated by the Securities and Exchange Commission (the “SEC”). Certain information and note disclosures normally included in comprehensive annual financial statements presented in accordance with GAAP have generally been condensed or omitted pursuant to SEC rules and regulations. Management believes that the accompanying condensed consolidated financial statements contain all adjustments (which include normal recurring adjustments) that, in the opinion of management, are necessary to present fairly the Company’s consolidated financial condition, results of operations and cash flows for the periods presented. The results of operations for interim periods are not necessarily indicative of the results that may be expected for the full year. These condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and accompanying notes for the year ended December 27, 2015, included in the Company’s Annual Report on Form 10-K. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. New Media was formed as a Delaware corporation on June 18, 2013. New Media was capitalized by and issued 1,000 common shares to Newcastle Investment Corp. (“Newcastle”). New Media had no operations until November 26, 2013, when it assumed control of GateHouse Media, Inc. ("GateHouse") and Local Media Group Holdings LLC. Gatehouse was determined to be the predecessor to New Media, as the operations of GateHouse comprise substantially all of the business operations of the combined companies. Newcastle owned approximately 84.6% of New Media until February 13, 2014, upon which date Newcastle distributed the shares that it held in New Media to its shareholders on a pro rata basis. The Company’s operating segments (Eastern US Publishing, Central US Publishing, Western US Publishing, and BridgeTower) are aggregated into one reportable segment. The newspaper industry and the Company have experienced declining revenue and profitability over the past several years. As a result, the Company has implemented, and continues to implement, plans to reduce costs and preserve cash flow. This includes cost reduction programs and the sale of non-core assets. The Company believes these initiatives along with cash provided by operating activities will provide it with the financial resources necessary to invest in the business and provide sufficient cash flow to enable the Company to meet its commitments. Accumulated Other Comprehensive Income (Loss) The changes in accumulated other comprehensive income (loss) by component for the nine months ended September 25, 2016 and September 27, 2015 are outlined below. Net actuarial loss and prior service cost (1) For the nine months ended September 25, 2016: Balance at December 27, 2015 $ (3,158 ) Other comprehensive income before reclassifications — Amounts reclassified from accumulated other comprehensive loss 61 Net current period other comprehensive income, net of taxes 61 Balance at September 25, 2016 $ (3,097 ) For the nine months ended September 27, 2015: Balance at December 28, 2014 $ (4,469 ) Other comprehensive income before reclassifications — Amounts reclassified from accumulated other comprehensive loss 70 Net current period other comprehensive income, net of taxes 70 Balance at September 27, 2015 $ (4,399 ) (1) This accumulated other comprehensive income (loss) component is included in the computation of net periodic benefit cost. See Note 10. The following table presents reclassifications out of accumulated other comprehensive income (loss) for the three and nine months ended September 25, 2016 and September 27, 2015 . Amounts Reclassified from Accumulated Other Comprehensive Loss Three months ended September 25, 2016 Three months ended September 27, 2015 Nine months ended September 25, 2016 Nine months ended September 27, 2015 Affected Line Item in the Consolidated Statements of Operations and Comprehensive Income Amortization of unrecognized loss $ 20 $ 24 $ 61 $ 70 (1) Amounts reclassified from accumulated other comprehensive loss 20 24 61 70 Income before income taxes Income tax expense — — — — Income tax expense (benefit) Amounts reclassified from accumulated other comprehensive loss, net of taxes $ 20 $ 24 $ 61 $ 70 Net income (1) This accumulated other comprehensive income (loss) component is included in the computation of net periodic benefit cost. See Note 10. Reclassifications Certain amounts in the prior period's condensed consolidated financial statements have been reclassified to conform to the current year presentation. Recently Issued Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, “Revenue from Contracts with Customers” (Topic 606). ASU No. 2014-09 will replace all current U.S. GAAP guidance on this topic and eliminate all industry-specific guidance. The new revenue recognition standard provides a unified model to determine when and how revenue is recognized. The core principle is that a company should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. This guidance would have been effective for annual and interim reporting periods beginning after December 15, 2016. In August 2015, the FASB issued ASU No. 2015-14, “Revenue from Contracts with Customers: Deferral of the Effective Date” which defers for one year the effective date of the new revenue standard (ASU No. 2014-09) for public and non-public entities reporting under U.S. GAAP. The standard is to be applied using one of two retrospective application methods. The FASB is permitting entities to adopt the standard as of the original effective date. In March 2016, the FASB issued ASU No. 2016-08, “Revenue from Contracts with Customers - Principal versus Agent Considerations” (Topic 606), which clarifies the implementation guidance on principal versus agent considerations. The Company is currently reviewing these amendments and application methods to determine the impact on the financial statements. In April 2015, the FASB issued ASU No. 2015-03, “Interest-Imputation of Interest” (Topic 835), which requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. The recognition and measurement guidance of debt issuance costs are not affected by the amendments in this update. The standard is effective for the Company beginning in the first quarter of 2016 and requires the Company to apply the new guidance on a retrospective basis on adoption. In August 2015, the FASB issued ASU No. 2015-15, “Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements”, which addresses the presentation of debt issuance costs related to line-of-credit arrangements. As a result of these amendments, the Company’s deferred financing costs of $3,143 were reclassified from long-term assets to long-term debt as of December 27, 2015, on the Company’s consolidated balance sheet. In July 2015, the FASB issued ASU No. 2015-11, “Simplifying the Measurement of Inventory” (Topic 330), which simplifies the measurement of inventory by requiring certain inventory to be measured at the “lower of cost and net realizable value” and options that currently exist for “market value” will be eliminated. The ASU defines net realizable value as the “estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation.” The standard will be effective for the Company beginning in the first quarter of 2017. Entities should adopt the guidance prospectively, and early adoption is permitted. The amendments in ASU No. 2015-11 are not expected to have a material impact on the financial statements. In February 2016, the FASB issued ASU No. 2016-02, “Leases” (Topic 842), which revises the accounting related to lessee accounting. Under the new guidance, lessees will be required to recognize a lease liability and a right-of-use asset for all leases with terms greater than 12 months. Leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition in the income statement. The provisions of ASU 2016-02 are effective for fiscal years beginning after December 15, 2018 and should be applied through a modified retrospective transition approach for leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements. Early adoption is permitted. The Company is currently evaluating the impact this accounting standard will have on the Company’s consolidated financial statements. In March 2016, the FASB issued ASU No. 2016-09, “Compensation - Stock Compensation” (Topic 718), which addresses several aspects of accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. The provisions are effective for fiscal years beginning after December 15, 2016, and there are various adoptions methods. Early adoption is permitted. The Company is currently evaluating the impact this accounting standard will have on the Company’s consolidated financial statements.

Acquisitions and Dispositions

Acquisitions and Dispositions	9 Months Ended
	Sep. 25, 2016
Business Combinations [Abstract]
Acquisitions and Dispositions	Acquisitions and Dispositions Acquisitions 2016 Other Acquisitions The Company acquired substantially all the assets, properties and business of certain publications and businesses on December 31, 2015, January 12, 2016, March 18, 2016, April 22, 2016, April 29, 2016, June 29, 2016, and August 1, 2016 (“2016 Other Acquisitions”), which included 67 business publications, two daily newspapers, five weekly publications, four shoppers, and digital platforms for an aggregate purchase price of $107,223 , including estimated working capital. The acquisitions were financed from cash on hand. The rationale for the acquisitions was primarily due to the attractive nature, as applicable, of the newspaper assets and digital platforms, and cash flows combined with cost saving and revenue-generating opportunities available. The Company accounted for the 2016 Other Acquisitions under the acquisition method of accounting. The net assets, including goodwill, have been recorded in the consolidated balance sheet at their fair values in accordance with Accounting Standards Codification (“ASC”) Topic 805, “Business Combinations” (“ASC 805”). The fair value determination of the assets acquired and liabilities assumed are preliminary based upon all information available to us at the present time and are subject to working capital and other adjustments. The value assigned to property, plant and equipment, intangible assets, liabilities and goodwill is preliminary and subject to the completion of valuations to determine the fair market value of the tangible and intangible assets. The final calculation of working capital and other adjustments and determination of fair values for tangible and intangible assets may result in different allocations among the various asset classes from those set forth below and any such differences could be material. The following table summarizes the preliminary fair values of the assets and liabilities: Current assets $ 16,093 Other assets 4,195 Property, plant and equipment 25,214 Noncompete agreements 670 Advertiser relationships 27,840 Subscriber relationships 11,140 Customer relationships 3,570 Software 5,783 Trade names 2,448 Mastheads 7,410 Goodwill 48,931 Total assets 153,294 Current liabilities 21,275 Pension obligations 16,299 Other long-term liabilities 8,497 Total liabilities 46,071 Net assets $ 107,223 The Company obtained third party independent valuations or performed similar calculations internally to assist in the determination of the fair values of certain assets acquired and liabilities assumed. Three basic approaches were used to determine value: the cost approach (used for equipment where an active secondary market is not available, building improvements, and software), the direct sales comparison (market) approach (used for land and equipment where an active secondary market is available) and the income approach (used for intangible assets). The obligation assumed for the defined benefit pension plan was measured in accordance with ASC 715-20, “Compensation-Retirement Benefits”. The Company recorded approximately $120 and $812 of selling, general and administrative expense for acquisition-related costs for the 2016 Other Acquisitions during the three and nine months ended September 25, 2016 , respectively. For tax purposes, the amount of goodwill that is expected to be deductible is $24,520 . Stephens Media, LLC On March 18, 2015, a wholly owned subsidiary of the Company completed its acquisition of the assets of Stephens Media, LLC (“Stephens Media”) for an aggregate purchase price of $110,767 , including working capital. The Stephens Media acquisition was financed with cash on hand. The purchase price was allocated to the fair value of the net assets acquired and any excess value over the tangible and identifiable intangible assets was recorded as goodwill. The acquisition includes nine daily newspapers, thirty-five weekly publications and fifteen shoppers serving communities throughout the United States with a combined average daily circulation of approximately 221 and 244 on Sunday. The acquisition was completed because of the attractive nature of the newspaper assets and cash flows as well as the cost saving opportunities. The purchase price reflects a working capital adjustment of $312 paid in July 2015. The Company accounted for the material business combination of Stephens Media under the acquisition method of accounting. The net assets, including goodwill, have been recorded in the consolidated balance sheet at their fair values in accordance with ASC 805. The following table summarizes the fair values of Stephens Media assets and liabilities: Current assets $ 16,187 Property, plant and equipment 55,453 Licensing agreements 18,150 Advertiser relationships 8,090 Subscriber relationships 3,070 Customer relationships 610 Mastheads 8,890 Goodwill 9,525 Total assets 119,975 Current liabilities 9,208 Total liabilities 9,208 Net assets $ 110,767 The Company obtained a third party independent valuation to assist in the determination of the fair values of certain assets acquired and liabilities assumed. The property, plant and equipment valuation includes an analysis of recent comparable sales and offerings of land parcels in each of the subject’s markets. The estimated fair value is supported by the consideration paid and was determined using standard generally accepted appraisal practices and valuation procedures. The valuation firm used the three basic approaches to value: the cost approach (used for equipment where an active secondary market is not available and building improvements), the direct sales comparison (market) approach (used for land and equipment where an active secondary market is available) and the income approach (used for intangible assets). These approaches used are based on the cost to reproduce assets, market exchanges for comparable assets and the capitalization of income. Useful lives range from 1 to 15 years for personal property and 9 to 29 years for real property. The valuation utilized a relief from royalty method, an income approach, to determine the fair value of mastheads. Key assumptions utilized in this valuation include revenue projections, a royalty rate of 2.0% , a long-term growth rate of 0.0% , a tax rate of 40.0% and a discount rate of 22.0% . The following intangible assets were valued using the income approach, specifically the excess earnings method: subscriber relationships, advertiser relationships and customer relationships. In determining the fair value of these intangible assets, the excess earnings approach values the intangible asset at the present value of the incremental after-tax cash flows attributable only to the asset after deducting contributory asset charges. The incremental after-tax cash flows attributable to the subject intangible asset are then discounted to their present value. A static pool approach using historical attrition rates was used to estimate attrition rates of 5.0% to 10.0% for advertiser relationships, subscriber relationships and customer relationships. The long term growth rate was estimated to be 0.0% and the discount rate was estimated at 23.0% . The licensing agreement asset was valued using a discounted cash flow analysis, an income approach. In determining the fair value of this intangible asset, the discounted cash flow approach values the intangible asset at the present value of the incremental after-tax cash flows attributable to the asset. The terms of the licensing agreement provide for a $2,500 annual payment. A discount rate of 10.0% and income tax rate of 40.0% were used in the discounted cash flow calculation. Amortizable lives range from 14 to 16 years for subscriber relationships, advertiser relationships and customer relationships, while mastheads are considered a non-amortizable intangible asset and the licensing agreement is amortized over the remaining contract life of approximately 25 years. Trade accounts receivable, having an estimated fair value of $13,177 , were included in the acquired assets. The gross contractual amount of these receivables was $14,398 and the contractual cash flows not expected to be collected were estimated at $1,221 as of the acquisition date. For tax purposes, the amount of goodwill that is expected to be deductible is $3,082 , after the allocation of goodwill to the Review Journal (as defined below). Halifax Media Group On January 9, 2015, the Company completed its acquisition of substantially all of the assets from Halifax Media Group for an aggregate purchase price of $285,369 , including working capital and net of assumed debt. Of the purchase price, $17,000 was held in an escrow account, to be available for application against indemnification and certain other obligations of the sellers arising during the first twelve months following the closing, with the remainder not so applied or subject to claims being delivered to the sellers. Subsequently, the escrow has been released. The acquisition includes twenty-four daily publications, thirteen weekly publications, and five shoppers serving areas of Alabama, Florida, Louisiana, Massachusetts, North Carolina, and South Carolina with a daily circulation of approximately 635 and 752 on Sunday. The acquisition was completed because of the attractive nature of the newspaper assets and cash flows as well as the cost saving opportunities. The purchase price reflects a working capital adjustment of $750 received in August 2015. In conjunction with the acquisition on January 9, 2015, the New Media Credit Agreement (as defined below) was amended to provide for the 2015 Incremental Term Loan (as defined below) under the Incremental Facility (as defined below) in an aggregate principal amount of $102,000 , the 2015 Incremental Revolver (as defined below) under the Incremental Facility (as defined below) in an aggregate principal amount of $50,000 and to make certain amendments to the Revolving Credit Facility (as defined below) in connection with the acquisition of the assets of Halifax Media Group. In addition, the New Media Borrower (as defined below) was required to pay an upfront fee of 1.00% of the aggregate amount of the 2015 Incremental Term Loan and 2015 Incremental Revolver as of the effective date of the amendment. The remaining amount of the purchase price was funded by cash on hand. On January 20, 2015, the Company repaid the outstanding loans under the 2015 Incremental Revolver and the 2015 Incremental Revolver commitments were terminated. The Company accounted for the material business combination of Halifax Media Group under the acquisition method of accounting. The net assets, including goodwill have been recorded in the consolidated balance sheet at their fair values in accordance with ASC 805. The following table summarizes the fair values of Halifax Media Group assets and liabilities: Current assets $ 42,114 Property, plant and equipment 95,369 Advertiser relationships 74,300 Subscriber relationships 36,200 Customer relationships 11,800 Mastheads 32,900 Goodwill 31,744 Total assets 324,427 Liabilities 39,058 Debt assumed 18,000 Total liabilities 57,058 Net assets $ 267,369 The Company obtained a third party independent valuation to assist in the determination of the fair values of certain assets acquired and liabilities assumed. The property, plant and equipment valuation included an analysis of recent comparable sales and offerings of land parcels in each of the subject’s markets. The estimated fair value is supported by the consideration paid and was determined using standard generally accepted appraisal practices and valuation procedures. The valuation firm used three basic approaches to value: the cost approach (used for equipment where an active secondary market is not available and building improvements), the direct sales comparison (market) approach (used for land and equipment where an active secondary market is available) and the income approach (used for intangible assets). The approaches used are based on the cost to reproduce assets, market exchanges for comparable assets and the capitalization of income. Useful lives range from 1 to 17 years for personal property and 8 to 22 years for real property. The valuation utilized a relief from royalty method, an income approach, to determine the fair value of mastheads. Key assumptions utilized in this valuation include revenue projections, a royalty rate of 2.0% , long-term growth rate of 0.0% , tax rate of 40.0% and discount rate of 16.0% . The Company valued the following intangible assets using the income approach, specifically the excess earnings method: subscriber relationships, advertiser relationships and customer relationships. In determining the fair value of these intangible assets, the excess earnings approach will value the intangible asset at the present value of the incremental after-tax cash flows attributable only to the asset after deducting contributory asset charges. The incremental after-tax cash flows attributable to the subject intangible asset are then discounted to their present value. A static pool approach using historical attrition rates was used to estimate attrition rates of 5.0% to 10.0% for advertiser relationships, subscriber relationships and customer relationships. The long-term growth rate was estimated to be 0.0% and the discount rate was estimated at 16.5% . Amortizable lives range from 14 to 17 years for subscriber relationships, advertiser relationships and customer relationships, while mastheads are considered a non-amortizable intangible asset. Trade accounts receivable, having an estimated fair value of $34,255 , were included in the acquired assets. The gross contractual amount of these receivables was $36,266 and the contractual cash flows not expected to be collected were estimated at $2,011 as of the acquisition date. For tax purposes, the amount of goodwill that is expected to be deductible is $31,744 . 2015 Other Acquisitions The Company acquired substantially all the assets, properties and business of publishing/operating certain newspapers on June 15, 2015 and September 23, 2015 (“2015 Other Acquisitions”), which included two daily newspapers, twenty-eight weekly publications, and two shoppers serving Central Ohio and Southern Michigan for an aggregate purchase price, including estimated working capital, of $52,021 . The acquisition completed on June 15, 2015 was financed with $25,000 of additional term debt under the New Media Credit Agreement and the remaining amount from cash on hand. The acquisition completed on September 23, 2015 was financed with cash on hand. The rationale for the acquisitions was primarily due to the attractive nature of the newspaper assets and cash flows combined with cost saving opportunities available by clustering with the Company’s nearby newspapers. The Company has accounted for these transactions under the acquisition method of accounting. The net assets, including goodwill, have been recorded in the consolidated balance sheet at their fair values in accordance with ASC 805. The following table summarizes the fair values of the assets and liabilities: Current assets $ 20,863 Property, plant and equipment 40,006 Noncompete agreements 3 Advertiser relationships 554 Subscriber relationships 1,159 Customer relationships 37 Mastheads 3,991 Goodwill 2,193 Total assets 68,806 Liabilities 16,785 Total liabilities 16,785 Net assets $ 52,021 The Company obtained third party independent valuations or performed similar calculations internally to assist in the determination of the fair values of certain assets acquired and liabilities assumed. The three basic approaches were used to estimate the fair values: the cost approach (used for equipment where an active secondary market is not available and building improvements), the direct sales comparison (market) approach (used for land and equipment where an active secondary market is available) and the income approach (used for subscriber relationships, advertiser relationships, customer relationships and mastheads). For tax purposes, the amount of goodwill that is expected to be deductible is $2,193 . Dispositions On December 10, 2015, the Company completed its sale of the Las Vegas Review-Journal and related publications (“Review-Journal”) (initially acquired in the Stephens Media acquisition), which are located in Las Vegas, Nevada, for an aggregate sale price of $140,000 plus working capital adjustment of $1,000 . As a result, a pre-tax gain of $57,072 , net of selling expenses, is included in (gain) loss on sale or disposal of assets on the consolidated statement of operations and comprehensive income (loss) for this period, since the disposition did not qualify for treatment as a discontinued operation under ASU No. 2014-08. The carrying amount of assets and liabilities included as part of the disposal group were: Current assets $ 13,372 Property, plant and equipment 39,783 Intangible assets 31,180 Goodwill 6,385 Total assets 90,720 Current liabilities 6,846 Total liabilities 6,846 Net assets $ 83,874 The Company entered into a Management and Advisory Agreement with DB Nevada Holdings, Inc. in conjunction with the sale of the Review-Journal on December 10, 2015. Under the terms of the agreement, the Company is authorized to manage and conduct business and oversee the assets and operations. The Company analyzed the terms of the agreement based on the guidance in ASU No. 2015-02 and concluded that the fees received from the Review-Journal do not represent a variable interest. On February 23, 2016, the Company received notification of termination of the Management and Advisory Agreement, which subsequently terminated on May 23, 2016. Pro-Forma Results The unaudited pro forma condensed consolidated statement of operations information for 2015, set forth below, presents the results of operations as if the consolidation of the newspapers from Halifax Media Group and Stephens Media had occurred on December 29, 2014. The pro forma information excludes results of operations of the Review-Journal, as well as the gain on sale of assets. The results of operations of the 2016 and 2015 Other Acquisitions are not material to the Company’s results of operations and have been excluded from the pro-forma results. These amounts are not necessarily indicative of future results or actual results that would have been achieved had the acquisitions occurred as of the beginning of such period. There are no pro-forma adjustments needed for the three and nine months ended September 25, 2016 and three months ended September 27, 2015 . Nine Months Ended September 27, 2015 Revenues $ 832,966 Income from continuing operations $ 6,066 Income from continuing operations per common share: Basic $ 0.14 Diluted $ 0.14

Share-Based Compensation

Share-Based Compensation	9 Months Ended
	Sep. 25, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Share-Based Compensation	Share-Based Compensation The Company recognized compensation cost for share-based payments of $609 , $395 , $1,846 , and $910 during the three and nine months ended September 25, 2016 and September 27, 2015 , respectively. The total compensation cost not yet recognized related to non-vested awards as of September 25, 2016 was $4,482 , which is expected to be recognized over a weighted average period of 1.92 years through July 2019. On February 3, 2014, the Board of Directors of New Media (the “Board” or “Board of Directors”) adopted the New Media Investment Group Inc. Nonqualified Stock Option and Incentive Award Plan (the “Incentive Plan”) that authorized up to 15,000,000 shares that can be granted under the Incentive Plan. On the same date, the New Media Board adopted a form of the New Media Investment Group Inc. Non-Officer Director Restricted Stock Grant Agreement (the “Form Grant Agreement”) to govern the terms of awards of restricted stock (“New Media Restricted Stock”) granted under the Incentive Plan to directors who are not officers or employees of New Media (the “Non-Officer Directors”). On February 24, 2015, the New Media Board adopted a form of the New Media Investment Group Inc. Employee Restricted Stock Grant Agreement (the “Form Employee Grant Agreement”) to govern the terms of awards of New Media Restricted Stock granted under the Incentive Plan to employees of New Media and its subsidiaries (the “Employees”). Both the Form Grant Agreement and the Form Employee Grant Agreement provide for the grant of New Media Restricted Stock that vests in equal annual installments on each of the first, second and third anniversaries of the grant date, subject to continued service, and immediate vesting in full upon death or disability. If service terminates for any other reason, all unvested shares of New Media Restricted Stock will be forfeited. During the period prior to the lapse and removal of the vesting restrictions, a grantee of a restricted stock grant (“RSG”) will have all the rights of a stockholder, including without limitation, the right to vote and the right to receive all dividends or other distributions. Any dividends or other distributions that are declared with respect to the shares of New Media Restricted Stock will be paid at the time such shares vest. As a result, the RSGs are reflected as outstanding common stock. The value of the RSGs on the date of issuance is recognized as selling, general and administrative expense over the vesting period with an increase to additional paid-in-capital. On March 14, 2014, a grant of restricted shares totaling 15,870 shares was made to the Company’s Non-Officer Directors, of which 5,280 and 5,289 vested on March 14, 2016 and March 14, 2015, respectively. During the year ended December 27, 2015, grants of restricted shares totaling 234,267 shares were made to the Company’s Employees, of which 78,023 vested during the nine months ended September 25, 2016. During the three months ended March 27, 2016, a grant of restricted shares totaling 175,650 shares was made to the Company’s Employees. During the three months ended June 26, 2016, a grant of restricted shares totaling 10,864 shares was made to the Company’s Employees and 7,313 restricted shares were forfeited. During the three months ended September 25, 2016, a grant of restricted shares totaling 2,018 shares was made to the Company’s Employees and 12,376 restricted shares were forfeited. As of September 25, 2016 and September 27, 2015 , there were 330,388 and 244,848 RSGs, respectively, issued and outstanding with a weighted average grant date fair value of $18.24 and $21.67 , respectively. As of September 25, 2016 , the aggregate intrinsic value of unvested RSGs was $5,362 . RSG activity during the nine months ended September 25, 2016 was as follows: Number of RSGs Weighted-Average Grant Date Fair Value Unvested at December 27, 2015 244,848 $ 21.67 Granted 188,532 15.34 Vested (83,303 ) 21.51 Forfeited (19,689 ) 19.22 Unvested at September 25, 2016 330,388 $ 18.24 FASB ASC Topic 718, “Compensation – Stock Compensation”, requires the recognition of share-based compensation for the number of awards that are ultimately expected to vest. The Company’s estimated forfeitures are based on the Company’s historical forfeiture rates. Estimated forfeitures are reassessed periodically and the estimate may change based on new facts and circumstances.

Restructuring

Restructuring	9 Months Ended
	Sep. 25, 2016
Restructuring and Related Activities [Abstract]
Restructuring	Restructuring Over the past several years, and in furtherance of the Company’s cost reduction and cash preservation plans outlined in Note 1, the Company has engaged in a series of individual restructuring programs, designed primarily to right size the Company’s employee base, consolidate facilities and improve operations, including those of recently acquired entities. These initiatives impact all of the Company’s geographic regions and are often influenced by the terms of union contracts within the region. All costs related to these programs, which primarily reflect severance expense, are accrued at the time of announcement or over the remaining service period. A rollforward of the accrued restructuring costs, included in accrued expenses on the balance sheet, for the nine months ended September 25, 2016 is outlined below. Severance and Related Costs Other Costs (1) Total December 27, 2015 $ 2,199 $ 322 $ 2,521 Restructuring provision included in Integration and Reorganization 6,356 1,176 7,532 Restructuring accrual assumed from acquisition 52 43 95 Cash payments (5,053 ) (1,204 ) (6,257 ) September 25, 2016 $ 3,554 $ 337 $ 3,891 (1) Other costs primarily included costs to consolidate operations. The restructuring reserve balance is expected to be paid out over the next twelve months. The following table summarizes the costs incurred and cash paid in connection with these restructuring programs for the three and nine months ended September 25, 2016 and September 27, 2015 . Three months ended September 25, 2016 Three months ended September 27, 2015 Nine months ended September 25, 2016 Nine months ended September 27, 2015 Severance and related costs $ 4,666 $ 1,605 $ 6,356 $ 5,168 Severance and other costs assumed from acquisition — — 95 — Other costs 531 33 1,176 53 Cash payments (2,374 ) (1,584 ) (6,257 ) (4,850 )

Goodwill and Intangible Assets

Goodwill and Intangible Assets	9 Months Ended
	Sep. 25, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Goodwill and Intangible Assets Goodwill and intangible assets consisted of the following: September 25, 2016 Gross carrying amount Accumulated amortization Net carrying amount Amortized intangible assets: Advertiser relationships 170,446 21,739 148,707 Customer relationships 23,395 2,723 20,672 Subscriber relationships 88,387 12,352 76,035 Other intangible assets 9,374 1,317 8,057 Total $ 291,602 $ 38,131 $ 253,471 Nonamortized intangible assets: Goodwill $ 219,971 Mastheads 92,914 Total $ 312,885 December 27, 2015 Gross Accumulated Net Amortized intangible assets: Advertiser relationships $ 143,002 $ 13,453 $ 129,549 Customer relationships 19,829 1,667 18,162 Subscriber relationships 77,385 7,897 69,488 Other intangible assets 473 105 368 Total $ 240,689 $ 23,122 $ 217,567 Nonamortized intangible assets: Goodwill $ 171,119 Mastheads 86,008 Total $ 257,127 As of September 25, 2016 , the weighted average amortization periods for amortizable intangible assets are 15.2 years for advertiser relationships, 15.2 years for customer relationships, 14.6 years for subscriber relationships and 5.1 years for other intangible assets. The weighted average amortization period in total for all amortizable intangible assets is 14.7 years. Amortization expense for the three and nine months ended September 25, 2016 and September 27, 2015 was $5,407 , $4,161 , $15,097 , and $12,119 , respectively. Estimated future amortization expense as of September 25, 2016 , is as follows: For the years ending the Sunday closest to December 31: 2016 $ 5,384 2017 21,626 2018 21,621 2019 19,981 2020 19,407 Thereafter 165,452 Total $ 253,471 The changes in the carrying amount of goodwill for the period from December 27, 2015 to September 25, 2016 are as follows: Balance at December 27, 2015 $ 171,119 Goodwill acquired in business combinations 48,931 Goodwill from divestitures (79 ) Balance at September 25, 2016 $ 219,971 The Company’s annual impairment assessment is made on the last day of its fiscal second quarter. The carrying value of goodwill and indefinite-lived intangible assets are evaluated for possible impairment on an annual basis or between annual tests if an event occurs or circumstances change that would more likely than not reduce the fair value of a reporting unit or indefinite-lived intangible asset below its carrying value. The Company is required to determine its goodwill impairment using a two-step process. The first step is used to identify potential impairment by comparing the fair value of a reporting unit with its carrying amount. If the carrying amount of a reporting unit exceeds its fair value, the second step of the impairment test is performed to measure the amount of impairment loss, if any. If the carrying amount of the reporting unit’s goodwill exceeds the implied fair value of that goodwill, an impairment loss is recognized in an amount equal to that excess. As part of the annual impairment assessments, as of June 26, 2016, the fair values of the Company’s reporting units for goodwill impairment testing, which include Eastern US Publishing, Central US Publishing, and Western US Publishing, and indefinite-lived intangible assets, which include newspaper mastheads, were estimated using the expected present value of future cash flows, recent industry multiples and using estimates, judgments and assumptions that management believes were appropriate in the circumstances. The estimates and judgments used in the assessment included multiples for EBITDA, the weighted average cost of capital and the terminal growth rate. The Company determined that the future cash flow and industry multiple analysis provided the best estimate of the fair value of its reporting units. As a result of the annual assessment’s Step 1 analysis that was performed, no impairment of goodwill was identified. The Company uses a “relief from royalty” approach which utilizes a discounted cash flow model to determine the fair value of each masthead. Additionally, the estimated fair value exceeded carrying value for all mastheads. The Company performed a qualitative assessment for the recently-acquired BridgeTower reporting unit and masthead and concluded that it is not more likely than not that the goodwill and indefinite-lived intangible assets are impaired. As a result, no quantitative impairment testing was performed for this reporting unit. The total Company’s estimate of reporting unit fair value was reconciled to its then market capitalization (based upon the stock market price and fair value of debt) plus an estimated control premium. As of September 25, 2016, a review of impairment indicators was performed by the Company noting that its financial results and forecast had not changed materially since the June 26, 2016 annual impairment test, and it was determined that no indicators of impairment were present. The newspaper industry and the Company have experienced declining same store revenue and profitability over the past several years. Should general economic, market or business conditions decline, and have a negative impact on estimates of future cash flow and market transaction multiples, the Company may be required to record impairment charges in the future.

Indebtedness

Indebtedness	9 Months Ended
	Sep. 25, 2016
Debt Disclosure [Abstract]
Indebtedness	Indebtedness New Media Credit Agreement On June 4, 2014, New Media Holdings II LLC (the “New Media Borrower”), a wholly owned subsidiary of New Media, entered into a credit agreement (the “New Media Credit Agreement”) among the New Media Borrower, New Media Holdings I LLC (“Holdings I”), the lenders party thereto, RBS Citizens, N.A. and Credit Suisse Securities (USA) LLC as joint lead arrangers and joint bookrunners, Credit Suisse AG, Cayman Islands Branch as syndication agent and Citizens Bank of Pennsylvania as administration agent which provides for (i) a $200,000 senior secured term facility (the “Term Loan Facility” and any loan thereunder, including as part of the Incremental Facility, “Term Loans”) and (ii) a $25,000 senior secured revolving credit facility, with a $5,000 sub-facility for letters of credit and a $5,000 sub-facility for swing loans, (the “Revolving Credit Facility” and together with the Term Loan Facility, the “Senior Secured Credit Facilities”). In addition, the New Media Borrower may request one or more new commitments for term loans or revolving loans from time to time up to an aggregate total of $75,000 (the “Incremental Facility”) subject to certain conditions. On June 4, 2014, the New Media Borrower borrowed $200,000 under the Term Loan Facility (the “Initial Term Loans”). As of September 25, 2016 , $0 was drawn under the Revolving Credit Facility. The Term Loans mature on June 4, 2020 and the maturity date for the Revolving Credit Facility is June 4, 2019 . The New Media Credit Agreement was amended; • on September 3, 2014, to provide for additional term loans under the Incremental Facility in an aggregate principal amount of $25,000 (the “2014 Incremental Term Loan”); • on November 20, 2014, to increase the amount of the Incremental Facility that may be requested after the date of the amendment from $75,000 to $225,000 ; • on January 9, 2015, to provide for $102,000 in additional term loans (the “2015 Incremental Term Loan”) and $50,000 in additional revolving commitments (the “2015 Incremental Revolver”) under the Incremental Facility and to make certain amendments to the Revolving Credit Facility in connection with the Halifax Media acquisition; • on February 13, 2015, to provide for the replacement of the existing term loans under the Term Loan Facility (including the 2014 Incremental Term Loan and the 2015 Incremental Term Loan) with a new class of replacement term loans. This amendment was considered a modification, and the related $104 of fees were expensed during the first quarter of 2015; • on March 6, 2015, to provide for $15,000 in additional revolving commitments under the Incremental Facility and in connection with this transaction, the Company incurred approximately $237 of fees and expenses which were capitalized as deferred financing costs; and • on May 29, 2015, to provide for $25,000 in additional term loans under the Incremental Facility. Borrowings under the Term Loan Facility bear interest, at the New Media Borrower’s option, at a rate equal to either (i) an adjusted Eurodollar rate, plus an applicable margin equal to 6.25% per annum (subject to a floor of 1.00% ) or (ii) an adjusted base rate, plus an applicable margin equal to 5.25% per annum (subject to a floor of 2.00% ). The New Media Borrower currently uses the Eurodollar rate option. Borrowings under the Revolving Credit Facility bear interest, at the New Media Borrower’s option, at a rate equal to either (i) an adjusted Eurodollar rate, plus an applicable margin equal to 5.25% per annum or (ii) an adjusted base rate, plus an applicable margin equal to 4.25% per annum, with a step down based on achievement of a certain total leverage ratio. The New Media Borrower currently uses the Eurodollar rate option. As of September 25, 2016 the New Media Credit Agreement had a weighted average interest rate of 7.2% . The Senior Secured Credit Facilities are unconditionally guaranteed by Holdings I and certain subsidiaries of the New Media Borrower (collectively, the “Guarantors”) and is required to be guaranteed by all future material wholly-owned domestic subsidiaries, subject to certain exceptions. All obligations under the New Media Credit Agreement are secured, subject to certain exceptions, by substantially all of the New Media Borrower’s assets and the assets of the Guarantors. Repayments made under the Term Loans are equal to 1.0% annually of the original principal amount in equal quarterly installments for the life of the Term Loans, with the remainder due at maturity. The New Media Borrower is permitted to make voluntary prepayments at any time without premium or penalty. The New Media Credit Agreement contains customary representations and warranties and affirmative covenants and negative covenants applicable to Holdings I, the New Media Borrower and the New Media Borrower's subsidiaries, including, among other things, restrictions on indebtedness, liens, investments, fundamental changes, dispositions, and dividends and other distributions, and events of default. The New Media Credit Agreement contains a financial covenant that requires Holdings I, the New Media Borrower and the New Media Borrower’s subsidiaries to maintain a maximum total leverage ratio of 3.25 to 1.00. As of September 25, 2016 , the Company is in compliance with all of the covenants and obligations under the New Media Credit Agreement. Advantage Credit Agreements In connection with the purchase of the assets of Halifax Media, which closed on January 9, 2015, certain subsidiaries of the Company (the “Advantage Borrowers”) agreed to assume all of the obligations of Halifax Media and its affiliates in respect of each of (i) that certain Consolidated Amended and Restated Credit Agreement dated January 6, 2012 among Halifax Media Acquisition LLC, Advantage Capital Community Development Fund XXVIII, L.L.C., and Florida Community Development Fund II, L.L.C. (as amended, the “Halifax Florida Credit Agreement”) and (ii) that certain Credit Agreement dated June 18, 2013 between Halifax Alabama, LLC and Southeast Community Development Fund V, L.L.C. (the “Halifax Alabama Credit Agreement” and, together with the Halifax Florida Credit Agreement, the “Advantage Credit Agreements”), respectively (the debt under the Halifax Florida Credit Agreement, the “Advantage Florida Debt”; the debt under the Halifax Alabama Credit Agreement, the “Advantage Alabama Debt”; and the Advantage Florida Debt and the Advantage Alabama Debt, collectively, the “Advantage Debt”). The Halifax Florida Credit Agreement is in the principal amount of $10,000 and bears interest at the rate of 5.25% per annum, payable quarterly in arrears, maturing on December 31, 2016. The Halifax Alabama Credit Agreement is in the principal amount of $8,000 and bears interest at the rate of LIBOR plus 6.25% per annum (with a minimum of 1% LIBOR) payable quarterly in arrears, maturing on March 31, 2019. The Advantage Debt is secured by a perfected second priority security interest in all the assets of the Advantage Borrowers and certain other subsidiaries of the Company, subject to the limitation that the maximum amount of secured obligations is $15,000 . The Advantage Credit Facilities are unconditionally guaranteed by Holdings I and certain subsidiaries of the New Media Borrowers and are required to be guaranteed by all future material wholly-owned domestic subsidiaries, subject to certain exceptions. The Advantage Debt is subordinated to the New Media Credit Facilities pursuant to an intercreditor agreement. The Advantage Credit Agreements contain covenants substantially consistent with those contained in the New Media Credit Facilities in addition to those required for compliance with the New Markets Tax Credit program. The Advantage Borrowers are permitted to make voluntary prepayments at any time without premium or penalty and are subject to customary mandatory prepayment events including from proceeds from asset sales and certain debt obligations. The Advantage Credit Agreements contain customary representations and warranties and customary affirmative and negative covenants applicable to the Advantage Borrowers and certain of the Company subsidiaries, including, among other things, restrictions on indebtedness, liens, investments, fundamental changes, dispositions, and dividends and other distributions. The Advantage Credit Agreements contain a financial covenant that requires Holdings I, the New Media Borrower and the New Media Borrower’s subsidiaries to maintain a maximum total leverage ratio of 3.75 to 1.00. The Advantage Credit Agreements contain customary events of default. As of September 25, 2016 , the Company is in compliance with all of the covenants and obligations under the Advantage Credit Agreements. Fair Value The fair value of long-term debt under the Senior Secured Credit Facilities and the Advantage Credit Agreements was estimated at $363,670 as of September 25, 2016 , based on discounted future contractual cash flows and a market interest rate adjusted for necessary risks, including the Company’s own credit risk as there are no rates currently observable in publicly traded debt markets of risk with similar terms and average maturities. Accordingly, the Company’s long-term debt under the Senior Secured Credit Facilities is classified within Level 3 of the fair value hierarchy. Payment Schedule As of September 25, 2016 , scheduled principal payments of outstanding debt are as follows: 2016 877 2017 13,509 2018 3,509 2019 11,509 2020 334,266 $ 363,670 Less: Short-term debt 13,509 Remaining original issue discount 7,791 Deferred financing costs 2,452 Long-term debt $ 339,918 For further information, see Note 10 to the Consolidated Financial Statements, “Indebtedness,” in our Annual Report on Form 10-K for the fiscal year ended December 27, 2015.

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 25, 2016
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions As of December 29, 2013, Newcastle (an affiliate of FIG LLC (the “Manager”) beneficially owned approximately 84.6% of the Company’s outstanding common stock. On February 13, 2014, Newcastle completed the spin-off of the Company. On February 14, 2014 New Media became a separate, publicly traded company trading on the NYSE under the ticker symbol “NEWM”. As a result of the spin-off, the fees included in the Management Agreement with the Company’s Manager became effective. As of September 25, 2016 , Fortress and its affiliates owned approximately 1.5% of the Company’s outstanding stock and approximately 39.5% of the Company’s outstanding warrants. The Company’s Manager holds 1,445,062 stock options of the Company’s stock as of September 25, 2016 . During the three and nine months ended September 25, 2016 and September 27, 2015 , Fortress and its affiliates were paid $225 , $225 , $675 , $654 in dividends, respectively. In addition, the Company’s Chairman, Wesley Edens, is also the Co-Chairman of the board of directors of Fortress. The Company does not pay Mr. Edens a salary or any other form of compensation. The Company’s Chief Operating Officer owns an interest in a company, from which the Company recognized revenue of $156 , $124 , $444 , and $356 during the three and nine months ended September 25, 2016 and September 27, 2015 , respectively, which is included in commercial printing and other on the Unaudited Condensed Consolidated Statement of Operations and Comprehensive Income. The Company’s Chief Executive Officer and Chief Financial Officer are employees of Fortress, and their salaries are paid by Fortress. Management Agreement On November 26, 2013, the Company entered into a management agreement with the Manager (as amended and restated, the “Management Agreement”). The Management Agreement requires the Manager to manage the Company’s business affairs subject to the supervision of the Company’s Board of Directors. On March 6, 2015, the Company’s independent directors on the Board approved an amendment to the Management Agreement. The Management Agreement has an initial three-year term and will be automatically renewed for one-year terms thereafter unless terminated either by the Company or the Manager. From the commencement date of the Company’s Common Stock trading on the “regular way” market on a major U.S. national securities exchange (the “Listing”), the Manager is (a) entitled to receive from the Company a management fee, (b) eligible to receive incentive compensation that is based on the Company’s performance and (c) eligible to receive options to purchase New Media Common Stock upon the successful completion of an offering of shares of the Company’s Common Stock or any shares of preferred stock with an exercise price equal to the price per share paid by the public or other ultimate purchaser in the offering, see Note 9. In addition, the Company is obligated to reimburse certain expenses incurred by the Manager. The Manager is also entitled to receive a termination fee from the Company under certain circumstances. The Company recognized $2,390 , $2,390 , $7,169 , and $7,049 for management fees and $1,295 , $3,486 , $5,001 , and $8,750 for incentive compensation within selling, general and administrative expense during the three and nine months ended September 25, 2016 and September 27, 2015 , respectively. The Company paid to FIG LLC $3,187 , $1,592 , $6,372 , and $5,122 in management fees and $817 , $0 , $21,755 , and $379 in incentive compensation during the three and nine months ended September 25, 2016 and September 27, 2015 , respectively. In addition, the Company recognized expense reimbursement amounts of approximately $300 , $0 , $1,323 , and $0 during the three and nine months ended September 25, 2016 and September 27, 2015 , respectively. The Company had an outstanding liability for all management agreement related fees of $7,315 and $23,393 at September 25, 2016 and December 27, 2015 , respectively, included in accrued expenses. Registration Rights Agreement with Omega The Company entered into a registration rights agreement (the “Omega Registration Rights Agreement”) with Omega Advisors, Inc. and its affiliates (collectively, “Omega”). Under the terms of the Omega Registration Rights Agreement, upon request by Omega the Company is required to use commercially reasonable efforts to file a resale shelf registration statement providing for the registration and sale on a continuous or delayed basis by Omega of its New Media Common Stock acquired pursuant to the Plan (the “Registrable Securities”) (the “Shelf Registration”), subject to customary exceptions and limitations. Omega is entitled to initiate up to three offerings or sales with respect to some or all of the Registrable Securities pursuant to the Shelf Registration. Omega may only exercise its right to request Shelf Registrations if Registrable Securities to be sold pursuant to such Shelf Registration are at least 3% of the then-outstanding New Media Common Stock.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 25, 2016
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company performs a quarterly assessment of its deferred tax assets and liabilities. ASC Topic 740, “Income Taxes” (“ASC 740”) limits the ability to use future taxable income to support the realization of deferred tax assets when a company has experienced a history of losses even if future taxable income is supported by detailed forecasts and projections. In assessing the realizability of deferred tax assets, the Company considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. The Company considers the scheduled reversal of deferred tax liabilities, projected future taxable income, and tax planning strategies in making this assessment. The Company concluded that during the nine months ended September 25, 2016 , a net decrease to the valuation allowance of $9,509 was available to offset deferred tax assets against deferred tax liabilities as noted further below. The $9,509 decrease to the valuation allowance was recognized through the Unaudited Condensed Consolidated Statement of Operations and Comprehensive Income (Loss). The realization of the remaining deferred tax assets is primarily dependent on the scheduled reversals of deferred taxes. Any changes in the scheduled reversals of deferred taxes may require an additional valuation allowance against the remaining deferred tax assets. Any increase or decrease in the valuation allowance could result in an increase or decrease in income tax expense in the period of adjustment. The computation of the annual expected effective tax rate at each interim period requires certain estimates and assumptions including, but not limited to, the expected operating income (loss) for the year, projections of the proportion of income (or loss), permanent and temporary differences, including the likelihood of recovering deferred tax assets generated in the current year. The accounting estimates used to compute the provision for income taxes may change as new events occur, more experience is acquired, or as additional information is obtained. To the extent that the estimated annual effective tax rate changes during a quarter, the effect of the change on prior quarters is included in tax expense for the current quarter. For the nine months ended September 25, 2016 , the expected federal tax at 34% is $4,233 . The difference between the expected tax and the effective tax benefit of $4,695 is primarily attributable to the tax effect of the valuation allowance release of $9,509 , the tax effect related to non-deductible expenses of $259 , state taxes of $403 , and release of unrecognized tax benefits of $81 . The Company recorded an income tax benefit of $5,119 and $991 during the three months ended March 27, 2016 and June 26, 2016, respectively, related to its acquisition of certain legal entities acquired during those quarters. In accordance with ASC 805, the Company released a portion of its valuation allowance, since it is able to utilize deferred tax assets against the deferred tax liabilities reflected in purchase accounting for the acquired entities. The Company and its subsidiaries file a U.S. federal consolidated income tax return. The U.S. federal and state statute of limitations generally remains open for the 2013 tax year and beyond. The Company’s 2013 short tax year Federal returns are under examination by the Internal Revenue Service. We do not anticipate any material adjustments related to this examination.

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 25, 2016
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share The following table sets forth the computation of basic and diluted earnings per share (“EPS”): Three months ended September 25, 2016 Three months ended September 27, 2015 Nine months ended September 25, 2016 Nine months ended September 27, 2015 Numerator for earnings per share calculation: Net income $ 2,795 $ 6,108 $ 17,145 $ 11,237 Denominator for earnings per share calculation: Basic weighted average shares outstanding 44,533,517 44,465,646 44,515,167 43,896,989 Effect of dilutive securities: Stock Options and Restricted Stock 141,376 19,729 84,891 189,752 Diluted weighted average shares outstanding 44,674,893 44,485,375 44,600,058 44,086,741 For the three and nine months ended September 25, 2016 , the Company excluded 1,362,479 and 1,362,479 common stock warrants and 700,000 and 700,000 stock options, respectively, from the computation of diluted income per share because their effect would have been antidilutive. For the three and nine months ended September 27, 2015 , the Company excluded 1,362,479 and 1,362,479 common stock warrants, 244,848 and 0 restricted share grants and 700,000 and 0 stock options, respectively, from the computation of diluted income per share because their effect would have been antidilutive. Equity In January 2015, the Company issued 7,000,000 shares of its common stock in a public offering at a price to the public of $21.70 per share for net proceeds of approximately $150,129 . Certain principals of Fortress and certain of the Company’s officers and directors participated in this offering and purchased an aggregate of 104,400 shares at a price of $21.70 per share. For the purpose of compensating the Manager for its successful efforts in raising capital for the Company, in connection with this offering, the Company granted options to the Manager to purchase 700,000 shares of the Company’s common stock at a price of $21.70 , which had an aggregate fair value of approximately $4,144 as of the grant date. The assumptions used in valuing the options were: a 2.0% risk-free rate, a 3.4% dividend yield, 36.8% volatility and a 10 year term. In March 2015, the Company issued 9,735 shares of its common stock to its Non-Officer Directors to settle a liability of $225 for 2014 services. In March 2016, the Company issued 13,992 shares of its common stock to its Non-Officer Directors to settle a liability of $225 for 2015 services. Dividends On April 30, 2015, the Company announced a first quarter 2015 cash dividend of $0.33 per share of Common Stock, par value $0.01 per share, of New Media. The dividend was paid on May 21, 2015 , to shareholders of record as of the close of business on May 13, 2015 . On July 30, 2015, the Company announced a second quarter 2015 cash dividend of $0.33 per share of Common Stock, par value $0.01 per share, of New Media. The dividend was paid on August 20, 2015 , to shareholders of record as of the close of business on August 12, 2015 . On October 29, 2015, the Company announced a third quarter 2015 cash dividend of $0.33 per share of Common Stock, par value $0.01 per share, of New Media. The dividend was paid on November 19, 2015 , to shareholders of record as of the close of business on November 12, 2015 . On February 25, 2016, the Company announced a fourth quarter 2015 cash dividend of $0.33 per share Common Stock, par value $0.01 per share, of New Media. The dividend was paid on March 17, 2016 , to shareholders of record as of the close of business on March 9, 2016 . On April 28, 2016, the Company announced a first quarter 2016 cash dividend of $0.33 per share of Common Stock, par value $0.01 per share, of New Media. The dividend was paid on May 19, 2016 , to shareholders of record as of the close of business on May 11, 2016 . On July 28, 2016, the Company announced a second quarter 2016 cash dividend of $0.33 per share of Common Stock, par value $0.01 per share, of New Media. The dividend was paid on August 18, 2016 , to shareholders of record as of the close of business on August 10, 2016 .

Pension and Postretirement Bene

Pension and Postretirement Benefits	9 Months Ended
	Sep. 25, 2016
Compensation and Retirement Disclosure [Abstract]
Pension and Postretirement Benefits	Pension and Postretirement Benefits As a result of the Enterprise News Media LLC, Copley Press, Inc., and Times Publishing Company acquisitions, the Company maintains two pension plans and several postretirement medical and life insurance plans which cover certain employees. The Company uses the accrued benefit actuarial method and best estimate assumptions to determine pension costs, liabilities and other pension information for defined benefit plans. The Enterprise News Media, LLC pension plan was amended to freeze all future benefit accruals as of December 31, 2008, except for a select group of union employees whose benefits were frozen during 2009. Also, during 2008, the medical and life insurance benefits were frozen, and the plan was amended to limit future benefits to a select group of active employees under the Enterprise News Media, LLC postretirement medical and life insurance plan. The Times Publishing pension plan was frozen prior to the acquisition date. The following provides information on the pension plans and postretirement medical and life insurance plans for the three and nine months ended September 25, 2016 and September 27, 2015 : Three months ended September 25, 2016 Three months ended September 27, 2015 Nine months ended September 25, 2016 Nine months ended September 27, 2015 Pension Postretirement Pension Postretirement Pension Postretirement Pension Postretirement Components of net periodic benefit costs: Service cost $ 75 $ 4 $ 75 $ 5 $ 225 $ 14 $ 225 $ 14 Interest cost 813 56 289 55 2,431 167 867 166 Expected return on plan assets (1,044 ) — (411 ) — (3,133 ) — (1,232 ) — Amortization of unrecognized loss 20 — 24 — 61 — 70 — Total $ (136 ) $ 60 $ (23 ) $ 60 $ (416 ) $ 181 $ (70 ) $ 180 For the three and nine months ended September 25, 2016 and September 27, 2015 , the Company recognized a total of $(76) , $37 , $(235) , and $110 in pension and postretirement (benefit) expense, respectively. During the three and nine months ended September 25, 2016 , the Company contributed $640 and $1,283 to the pension plans, respectively. The Company is expected to pay an additional $339 in employer contributions to the pension plans during the fourth quarter of the current fiscal year.

Fair Value Measurement

Fair Value Measurement	9 Months Ended
	Sep. 25, 2016
Fair Value Disclosures [Abstract]
Fair Value Measurement	Fair Value Measurement The Company measures and records in the accompanying condensed consolidated financial statements certain assets and liabilities at fair value on a recurring basis. ASC Topic 820 “Fair Value Measurements and Disclosures” establishes a fair value hierarchy for those instruments measured at fair value that distinguishes between assumptions based on market data (observable inputs) and the Company’s own assumptions (unobservable inputs). These inputs are prioritized as follows: • Level 1: Observable inputs such as quoted prices in active markets for identical assets or liabilities; • Level 2: Inputs other than quoted prices included within Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities or market corroborated inputs; and • Level 3: Unobservable inputs for which there is little or no market data and which require the Company to develop their own assumptions about how market participants price the asset or liability. The valuation techniques that may be used to measure fair value are as follows: • Market approach – Uses prices and other relevant information generated by market transactions involving identical or comparable assets or liabilities; • Income approach – Uses valuation techniques to convert future amounts to a single present amount based on current market expectation about those future amounts; • Cost approach – Based on the amount that currently would be required to replace the service capacity of an asset (replacement cost). The following table provides information for the Company’s major categories of financial assets and liabilities measured or disclosed at fair value on a recurring basis: Fair Value Measurements at Reporting Date Using Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Fair Value Measurements As of September 25, 2016 Assets Cash and cash equivalents $ 54,520 $ — $ — $ 54,520 Restricted cash 3,706 — — 3,706 As of December 27, 2015 Assets Cash and cash equivalents $ 146,638 $ — $ — $ 146,638 Restricted cash 6,967 — — 6,967 Certain assets are measured at fair value on a nonrecurring basis; that is, the instruments are not measured at fair value on an ongoing basis but are subject to fair value adjustments only in certain circumstances (for example, when there is evidence of impairment). For the acquisitions during the quarters ended March 29, 2015, June 28, 2015, September 27, 2015, March 27, 2016, June 28, 2016, and September 25, 2016, the Company consolidated the assets and liabilities under the acquisition method of accounting. Accordingly, the assets acquired and liabilities assumed were recorded at their fair value. Property, plant and equipment was valued using Level 2 inputs and intangible assets were valued using Level 3 inputs. Refer to Note 2 for discussion of the valuation techniques, significant inputs, assumptions utilized, and the fair value recognized. Refer to Note 6 for the discussion on the fair value of the Company’s total long-term debt.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 25, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies The Company is and may become involved from time to time in legal proceedings in the ordinary course of its business, including but not limited to with respect to such matters as libel, invasion of privacy, intellectual property infringement, wrongful termination actions and complaints alleging employment discrimination, and regulatory investigations and inquiries. In addition, the Company is involved from time to time in governmental and administrative proceedings concerning employment, labor, environmental and other claims. Insurance coverage mitigates potential loss for certain of these matters. Historically, such claims and proceedings have not had a material adverse effect on the Company’s consolidated results of operations or financial position. Although the Company is unable to predict with certainty the eventual outcome of any litigation, regulatory investigation or inquiry, in the opinion of management, the Company does not expect its current and any threatened legal proceedings to have a material adverse effect on the Company’s business, financial position or consolidated results of operations. Given the inherent unpredictability of these types of proceedings, however, it is possible that future adverse outcomes could have a material effect on the Company’s financial results. Restricted cash at September 25, 2016 and December 27, 2015 , in the aggregate amount of $3,706 and $6,967 , respectively, is used to collateralize standby letters of credit in the name of the Company’s insurers in accordance with certain insurance policies and as cash collateral for certain business operations.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 25, 2016
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events Dividends On October 27, 2016, the Company announced a third quarter 2016 cash dividend of $0.35 per share of Common Stock, par value $0.01 per share, of New Media. The dividend will be paid on November 17, 2016 , to shareholders of record as of the close of business on November 9, 2016 . Acquisitions On September 30, 2016, the Company purchased substantially all of the assets of two companies for an aggregate purchase price of $8,500 , plus working capital and assumed liabilities.

Unaudited Financial Statements

Unaudited Financial Statements (Policies)	9 Months Ended
	Sep. 25, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Reclassifications	Reclassifications Certain amounts in the prior period's condensed consolidated financial statements have been reclassified to conform to the current year presentation.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, “Revenue from Contracts with Customers” (Topic 606). ASU No. 2014-09 will replace all current U.S. GAAP guidance on this topic and eliminate all industry-specific guidance. The new revenue recognition standard provides a unified model to determine when and how revenue is recognized. The core principle is that a company should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. This guidance would have been effective for annual and interim reporting periods beginning after December 15, 2016. In August 2015, the FASB issued ASU No. 2015-14, “Revenue from Contracts with Customers: Deferral of the Effective Date” which defers for one year the effective date of the new revenue standard (ASU No. 2014-09) for public and non-public entities reporting under U.S. GAAP. The standard is to be applied using one of two retrospective application methods. The FASB is permitting entities to adopt the standard as of the original effective date. In March 2016, the FASB issued ASU No. 2016-08, “Revenue from Contracts with Customers - Principal versus Agent Considerations” (Topic 606), which clarifies the implementation guidance on principal versus agent considerations. The Company is currently reviewing these amendments and application methods to determine the impact on the financial statements. In April 2015, the FASB issued ASU No. 2015-03, “Interest-Imputation of Interest” (Topic 835), which requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. The recognition and measurement guidance of debt issuance costs are not affected by the amendments in this update. The standard is effective for the Company beginning in the first quarter of 2016 and requires the Company to apply the new guidance on a retrospective basis on adoption. In August 2015, the FASB issued ASU No. 2015-15, “Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements”, which addresses the presentation of debt issuance costs related to line-of-credit arrangements. As a result of these amendments, the Company’s deferred financing costs of $3,143 were reclassified from long-term assets to long-term debt as of December 27, 2015, on the Company’s consolidated balance sheet. In July 2015, the FASB issued ASU No. 2015-11, “Simplifying the Measurement of Inventory” (Topic 330), which simplifies the measurement of inventory by requiring certain inventory to be measured at the “lower of cost and net realizable value” and options that currently exist for “market value” will be eliminated. The ASU defines net realizable value as the “estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation.” The standard will be effective for the Company beginning in the first quarter of 2017. Entities should adopt the guidance prospectively, and early adoption is permitted. The amendments in ASU No. 2015-11 are not expected to have a material impact on the financial statements. In February 2016, the FASB issued ASU No. 2016-02, “Leases” (Topic 842), which revises the accounting related to lessee accounting. Under the new guidance, lessees will be required to recognize a lease liability and a right-of-use asset for all leases with terms greater than 12 months. Leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition in the income statement. The provisions of ASU 2016-02 are effective for fiscal years beginning after December 15, 2018 and should be applied through a modified retrospective transition approach for leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements. Early adoption is permitted. The Company is currently evaluating the impact this accounting standard will have on the Company’s consolidated financial statements. In March 2016, the FASB issued ASU No. 2016-09, “Compensation - Stock Compensation” (Topic 718), which addresses several aspects of accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. The provisions are effective for fiscal years beginning after December 15, 2016, and there are various adoptions methods. Early adoption is permitted. The Company is currently evaluating the impact this accounting standard will have on the Company’s consolidated financial statements.

Unaudited Financial Statement22

Unaudited Financial Statements (Tables)	9 Months Ended
	Sep. 25, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Changes in Accumulated Other Comprehensive Income (Loss) by Component	The changes in accumulated other comprehensive income (loss) by component for the nine months ended September 25, 2016 and September 27, 2015 are outlined below. Net actuarial loss and prior service cost (1) For the nine months ended September 25, 2016: Balance at December 27, 2015 $ (3,158 ) Other comprehensive income before reclassifications — Amounts reclassified from accumulated other comprehensive loss 61 Net current period other comprehensive income, net of taxes 61 Balance at September 25, 2016 $ (3,097 ) For the nine months ended September 27, 2015: Balance at December 28, 2014 $ (4,469 ) Other comprehensive income before reclassifications — Amounts reclassified from accumulated other comprehensive loss 70 Net current period other comprehensive income, net of taxes 70 Balance at September 27, 2015 $ (4,399 ) (1) This accumulated other comprehensive income (loss) component is included in the computation of net periodic benefit cost. See Note 10.
Reclassification Out of Accumulated Other Comprehensive Income	The following table presents reclassifications out of accumulated other comprehensive income (loss) for the three and nine months ended September 25, 2016 and September 27, 2015 . Amounts Reclassified from Accumulated Other Comprehensive Loss Three months ended September 25, 2016 Three months ended September 27, 2015 Nine months ended September 25, 2016 Nine months ended September 27, 2015 Affected Line Item in the Consolidated Statements of Operations and Comprehensive Income Amortization of unrecognized loss $ 20 $ 24 $ 61 $ 70 (1) Amounts reclassified from accumulated other comprehensive loss 20 24 61 70 Income before income taxes Income tax expense — — — — Income tax expense (benefit) Amounts reclassified from accumulated other comprehensive loss, net of taxes $ 20 $ 24 $ 61 $ 70 Net income (1) This accumulated other comprehensive income (loss) component is included in the computation of net periodic benefit cost. See Note 10.

Acquisitions and Dispositions (

Acquisitions and Dispositions (Tables)	9 Months Ended
	Sep. 25, 2016
Business Combinations [Abstract]
Schedule of Assets Acquired and Liabilities Assumed	The following table summarizes the fair values of Halifax Media Group assets and liabilities: Current assets $ 42,114 Property, plant and equipment 95,369 Advertiser relationships 74,300 Subscriber relationships 36,200 Customer relationships 11,800 Mastheads 32,900 Goodwill 31,744 Total assets 324,427 Liabilities 39,058 Debt assumed 18,000 Total liabilities 57,058 Net assets $ 267,369 The following table summarizes the fair values of the assets and liabilities: Current assets $ 20,863 Property, plant and equipment 40,006 Noncompete agreements 3 Advertiser relationships 554 Subscriber relationships 1,159 Customer relationships 37 Mastheads 3,991 Goodwill 2,193 Total assets 68,806 Liabilities 16,785 Total liabilities 16,785 Net assets $ 52,021 The following table summarizes the fair values of Stephens Media assets and liabilities: Current assets $ 16,187 Property, plant and equipment 55,453 Licensing agreements 18,150 Advertiser relationships 8,090 Subscriber relationships 3,070 Customer relationships 610 Mastheads 8,890 Goodwill 9,525 Total assets 119,975 Current liabilities 9,208 Total liabilities 9,208 Net assets $ 110,767 The following table summarizes the preliminary fair values of the assets and liabilities: Current assets $ 16,093 Other assets 4,195 Property, plant and equipment 25,214 Noncompete agreements 670 Advertiser relationships 27,840 Subscriber relationships 11,140 Customer relationships 3,570 Software 5,783 Trade names 2,448 Mastheads 7,410 Goodwill 48,931 Total assets 153,294 Current liabilities 21,275 Pension obligations 16,299 Other long-term liabilities 8,497 Total liabilities 46,071 Net assets $ 107,223
Schedule of Assets and Liabilities Sold	The carrying amount of assets and liabilities included as part of the disposal group were: Current assets $ 13,372 Property, plant and equipment 39,783 Intangible assets 31,180 Goodwill 6,385 Total assets 90,720 Current liabilities 6,846 Total liabilities 6,846 Net assets $ 83,874
Schedule of Unaudited Pro Forma Results	The unaudited pro forma condensed consolidated statement of operations information for 2015, set forth below, presents the results of operations as if the consolidation of the newspapers from Halifax Media Group and Stephens Media had occurred on December 29, 2014. The pro forma information excludes results of operations of the Review-Journal, as well as the gain on sale of assets. The results of operations of the 2016 and 2015 Other Acquisitions are not material to the Company’s results of operations and have been excluded from the pro-forma results. These amounts are not necessarily indicative of future results or actual results that would have been achieved had the acquisitions occurred as of the beginning of such period. There are no pro-forma adjustments needed for the three and nine months ended September 25, 2016 and three months ended September 27, 2015 . Nine Months Ended September 27, 2015 Revenues $ 832,966 Income from continuing operations $ 6,066 Income from continuing operations per common share: Basic $ 0.14 Diluted $ 0.14

Share-Based Compensation (Table

Share-Based Compensation (Tables)	9 Months Ended
	Sep. 25, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
RSG Activity	RSG activity during the nine months ended September 25, 2016 was as follows: Number of RSGs Weighted-Average Grant Date Fair Value Unvested at December 27, 2015 244,848 $ 21.67 Granted 188,532 15.34 Vested (83,303 ) 21.51 Forfeited (19,689 ) 19.22 Unvested at September 25, 2016 330,388 $ 18.24

Restructuring (Tables)

Restructuring (Tables)	9 Months Ended
	Sep. 25, 2016
Restructuring and Related Activities [Abstract]
Restructuring Program Activity	A rollforward of the accrued restructuring costs, included in accrued expenses on the balance sheet, for the nine months ended September 25, 2016 is outlined below. Severance and Related Costs Other Costs (1) Total December 27, 2015 $ 2,199 $ 322 $ 2,521 Restructuring provision included in Integration and Reorganization 6,356 1,176 7,532 Restructuring accrual assumed from acquisition 52 43 95 Cash payments (5,053 ) (1,204 ) (6,257 ) September 25, 2016 $ 3,554 $ 337 $ 3,891 (1) Other costs primarily included costs to consolidate operations.
Schedule of Restructuring Costs and Cash Paid	The following table summarizes the costs incurred and cash paid in connection with these restructuring programs for the three and nine months ended September 25, 2016 and September 27, 2015 . Three months ended September 25, 2016 Three months ended September 27, 2015 Nine months ended September 25, 2016 Nine months ended September 27, 2015 Severance and related costs $ 4,666 $ 1,605 $ 6,356 $ 5,168 Severance and other costs assumed from acquisition — — 95 — Other costs 531 33 1,176 53 Cash payments (2,374 ) (1,584 ) (6,257 ) (4,850 )

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	9 Months Ended
	Sep. 25, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill and Intangible Assets	Goodwill and intangible assets consisted of the following: September 25, 2016 Gross carrying amount Accumulated amortization Net carrying amount Amortized intangible assets: Advertiser relationships 170,446 21,739 148,707 Customer relationships 23,395 2,723 20,672 Subscriber relationships 88,387 12,352 76,035 Other intangible assets 9,374 1,317 8,057 Total $ 291,602 $ 38,131 $ 253,471 Nonamortized intangible assets: Goodwill $ 219,971 Mastheads 92,914 Total $ 312,885 December 27, 2015 Gross Accumulated Net Amortized intangible assets: Advertiser relationships $ 143,002 $ 13,453 $ 129,549 Customer relationships 19,829 1,667 18,162 Subscriber relationships 77,385 7,897 69,488 Other intangible assets 473 105 368 Total $ 240,689 $ 23,122 $ 217,567 Nonamortized intangible assets: Goodwill $ 171,119 Mastheads 86,008 Total $ 257,127
Intangible Assets Future Amortization Expense	Estimated future amortization expense as of September 25, 2016 , is as follows: For the years ending the Sunday closest to December 31: 2016 $ 5,384 2017 21,626 2018 21,621 2019 19,981 2020 19,407 Thereafter 165,452 Total $ 253,471
Summary of the Change in Goodwill	The changes in the carrying amount of goodwill for the period from December 27, 2015 to September 25, 2016 are as follows: Balance at December 27, 2015 $ 171,119 Goodwill acquired in business combinations 48,931 Goodwill from divestitures (79 ) Balance at September 25, 2016 $ 219,971

Indebtedness (Tables)

Indebtedness (Tables)	9 Months Ended
	Sep. 25, 2016
Debt Disclosure [Abstract]
Schedule of Principal Payments of Outstanding Debt	As of September 25, 2016 , scheduled principal payments of outstanding debt are as follows: 2016 877 2017 13,509 2018 3,509 2019 11,509 2020 334,266 $ 363,670 Less: Short-term debt 13,509 Remaining original issue discount 7,791 Deferred financing costs 2,452 Long-term debt $ 339,918

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 25, 2016
Earnings Per Share [Abstract]
Schedule of Computation of Basic and Diluted Earnings (Loss) Per Share	The following table sets forth the computation of basic and diluted earnings per share (“EPS”): Three months ended September 25, 2016 Three months ended September 27, 2015 Nine months ended September 25, 2016 Nine months ended September 27, 2015 Numerator for earnings per share calculation: Net income $ 2,795 $ 6,108 $ 17,145 $ 11,237 Denominator for earnings per share calculation: Basic weighted average shares outstanding 44,533,517 44,465,646 44,515,167 43,896,989 Effect of dilutive securities: Stock Options and Restricted Stock 141,376 19,729 84,891 189,752 Diluted weighted average shares outstanding 44,674,893 44,485,375 44,600,058 44,086,741

Pension and Postretirement Be29

Pension and Postretirement Benefits (Tables)	9 Months Ended
	Sep. 25, 2016
Compensation and Retirement Disclosure [Abstract]
Pension and Postretirement Net Periodic Benefit Costs	The following provides information on the pension plans and postretirement medical and life insurance plans for the three and nine months ended September 25, 2016 and September 27, 2015 : Three months ended September 25, 2016 Three months ended September 27, 2015 Nine months ended September 25, 2016 Nine months ended September 27, 2015 Pension Postretirement Pension Postretirement Pension Postretirement Pension Postretirement Components of net periodic benefit costs: Service cost $ 75 $ 4 $ 75 $ 5 $ 225 $ 14 $ 225 $ 14 Interest cost 813 56 289 55 2,431 167 867 166 Expected return on plan assets (1,044 ) — (411 ) — (3,133 ) — (1,232 ) — Amortization of unrecognized loss 20 — 24 — 61 — 70 — Total $ (136 ) $ 60 $ (23 ) $ 60 $ (416 ) $ 181 $ (70 ) $ 180

Fair Value Measurement (Tables)

Fair Value Measurement (Tables)	9 Months Ended
	Sep. 25, 2016
Fair Value Disclosures [Abstract]
Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis	The following table provides information for the Company’s major categories of financial assets and liabilities measured or disclosed at fair value on a recurring basis: Fair Value Measurements at Reporting Date Using Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Fair Value Measurements As of September 25, 2016 Assets Cash and cash equivalents $ 54,520 $ — $ — $ 54,520 Restricted cash 3,706 — — 3,706 As of December 27, 2015 Assets Cash and cash equivalents $ 146,638 $ — $ — $ 146,638 Restricted cash 6,967 — — 6,967

Unaudited Financial Statement31

Unaudited Financial Statements - Additional Information (Details) $ in Thousands	8 Months Ended	9 Months Ended
	Feb. 13, 2014	Sep. 25, 2016USD ($)segmentshares	Dec. 27, 2015USD ($)shares	Jun. 18, 2013shares
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Common stock, shares issued | shares		44,913,021	44,710,497	1,000
Percentage of the Company owned by Newcastle	84.60%
Number of reportable segments | segment		1
Deferred financing costs		$ 2,452
Accounting Standards Update 2015-03 [Member] | Long-term Assets [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Deferred financing costs			$ (3,143)
Accounting Standards Update 2015-03 [Member] | Long-term Debt [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Deferred financing costs			$ 3,143

Unaudited Financial Statement32

Unaudited Financial Statements - Changes in Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 25, 2016	Sep. 27, 2015
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Stockholders' equity, beginning balance	$ 647,073
Stockholders' equity, ending balance	621,537
Net actuarial loss and prior service cost [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Stockholders' equity, beginning balance	(3,158)	$ (4,469)
Other comprehensive income before reclassifications	0	0
Amounts reclassified from accumulated other comprehensive loss	61	70
Net current period other comprehensive income, net of taxes	61	70
Stockholders' equity, ending balance	$ (3,097)	$ (4,399)

Unaudited Financial Statement33

Unaudited Financial Statements - Reclassifications out of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 25, 2016	Sep. 27, 2015	Sep. 25, 2016	Sep. 27, 2015
Accumulated Other Comprehensive Income (Loss) [Line Items]
Amounts reclassified from accumulated other comprehensive loss	$ 3,299	$ 6,818	$ 12,450	$ 12,320
Income tax expense	(504)	(710)	4,695	(1,083)
Net income	2,795	6,108	17,145	11,237
Reclassification out of Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss) [Line Items]
Amounts reclassified from accumulated other comprehensive loss	20	24	61	70
Income tax expense	0	0	0	0
Net income	20	24	61	70
Reclassification out of Accumulated Other Comprehensive Income (Loss) | Amortization of unrecognized loss
Accumulated Other Comprehensive Income (Loss) [Line Items]
Amortization of unrecognized loss	$ 20	$ 24	$ 61	$ 70

Acquisitions and Dispositions -

Acquisitions and Dispositions - Additional Information (Details)	Jun. 15, 2015USD ($)	Mar. 18, 2015USD ($)newspapercirculationweekly_publicationShopper	Jan. 09, 2015USD ($)circulationweekly_publicationShopperDaily_publication	Sep. 25, 2016USD ($)	Sep. 23, 2015USD ($)newspaperweekly_publicationShopper	Aug. 01, 2016USD ($)newspaperbusiness_publicationweekly_publicationShopper	Sep. 25, 2016USD ($)	Aug. 31, 2015USD ($)	Jul. 31, 2015USD ($)
Stephens Media [Member]
Business Acquisition [Line Items]
Number of shoppers acquired | Shopper		15
Goodwill expected to be tax deductible		$ 3,082,000
Acquisition purchase price, net working capital		$ 110,767,000
Number of daily publications acquired | newspaper		9
Number of weekly publications acquired | weekly_publication		35
Daily circulation | circulation		221,000
Sunday circulation | circulation		244,000
Working capital adjustment									$ 312,000
Personal property useful life minimum (in years)		1 year
Personal property useful life maximum (in years)		15 years
Real property useful life minimum (in years)		9 years
Real property useful life maximum (in years)		29 years
Royalty rate used to determine fair value of mastheads		2.00%
Long-term growth rate used to determine fair value of mastheads		0.00%
Tax rate used to determine fair value of mastheads		40.00%
Discount rate used to determine fair value of mastheads		22.00%
Attrition rates, definite lived intangibles, low range		5.00%
Attrition rates, definite lived intangibles, high range		10.00%
Long term growth rate, definite lived intangibles		0.00%
Discount rates, definite lived intangibles		23.00%
Licensing agreement annual payment		$ 2,500,000
Discount rate, licensing agreement		10.00%
Tax rate, licensing agreement		40.00%
Definite lived intangible assets useful life minimum (in years)		14 years
Definite lived intangible assets useful life maximum (in years)		16 years
Licensing agreement useful life (in years)		25 years
Acquired trade receivables fair value		$ 13,177,000
Acquired trade receivables contractual amount		14,398,000
Acquired trade receivables estimated uncollectible		$ 1,221,000
Halifax Media Group [Member]
Business Acquisition [Line Items]
Number of shoppers acquired | Shopper			5
Goodwill expected to be tax deductible			$ 31,744,000
Acquisition purchase price, net working capital			$ 285,369,000
Number of daily publications acquired | Daily_publication			24
Number of weekly publications acquired | weekly_publication			13
Daily circulation | circulation			635,000
Sunday circulation | circulation			752,000
Working capital adjustment								$ 750,000
Personal property useful life minimum (in years)			1 year
Personal property useful life maximum (in years)			17 years
Real property useful life minimum (in years)			8 years
Real property useful life maximum (in years)			22 years
Royalty rate used to determine fair value of mastheads			2.00%
Long-term growth rate used to determine fair value of mastheads			0.00%
Tax rate used to determine fair value of mastheads			40.00%
Discount rate used to determine fair value of mastheads			16.00%
Attrition rates, definite lived intangibles, low range			5.00%
Attrition rates, definite lived intangibles, high range			10.00%
Long term growth rate, definite lived intangibles			0.00%
Discount rates, definite lived intangibles			16.50%
Definite lived intangible assets useful life minimum (in years)			14 years
Definite lived intangible assets useful life maximum (in years)			17 years
Acquired trade receivables fair value			$ 34,255,000
Acquired trade receivables contractual amount			36,266,000
Acquired trade receivables estimated uncollectible			2,011,000
Purchase price held in escrow			17,000,000
Debt issued for acquisition, term loans			102,000,000
Debt issued for acquisition, revolving debt			$ 50,000,000
Debt fee percent			1.00%
2015 Other Acquisitions [Member]
Business Acquisition [Line Items]
Number of shoppers acquired | Shopper					2
Goodwill expected to be tax deductible					$ 2,193,000
Acquisition purchase price, net working capital					$ 52,021,000
Number of daily publications acquired | newspaper					2
Number of weekly publications acquired | weekly_publication					28
Debt issued for acquisition, term loans	$ 25,000,000
2016 Other Acquisitions [Member]
Business Acquisition [Line Items]
Number of business publications acquired | business_publication						67
Number of daily newspapers acquired | newspaper						2
Number of weekly publications acquired | weekly_publication						5
Number of shoppers acquired | Shopper						4
Aggregate purchase price						$ 107,223,000
Acquisition related costs recognized in selling, general, and administrative expense				$ 120,000			$ 812,000
Goodwill expected to be tax deductible						$ 24,520,000

Acquisitions and Dispositions35

Acquisitions and Dispositions - Summary of Preliminary Fair Value of Assets and Liabilities (Details) - USD ($) $ in Thousands	Sep. 25, 2016	Aug. 01, 2016	Dec. 27, 2015	Sep. 23, 2015	Mar. 18, 2015	Jan. 09, 2015
Business Acquisition [Line Items]
Goodwill	$ 219,971		$ 171,119
Stephens Media [Member]
Business Acquisition [Line Items]
Current assets					$ 16,187
Property, plant and equipment					55,453
Licensing agreements					18,150
Advertiser relationships					8,090
Subscriber relationships					3,070
Customer relationships					610
Mastheads					8,890
Goodwill					9,525
Total assets					119,975
Current liabilities					9,208
Total liabilities					9,208
Net assets					$ 110,767
Halifax Media Group [Member]
Business Acquisition [Line Items]
Current assets						$ 42,114
Property, plant and equipment						95,369
Advertiser relationships						74,300
Subscriber relationships						36,200
Customer relationships						11,800
Mastheads						32,900
Goodwill						31,744
Total assets						324,427
Current liabilities						39,058
Debt assumed						18,000
Total liabilities						57,058
Net assets						$ 267,369
2015 Other Acquisitions [Member]
Business Acquisition [Line Items]
Current assets				$ 20,863
Property, plant and equipment				40,006
Noncompete agreements				3
Advertiser relationships				554
Subscriber relationships				1,159
Customer relationships				37
Mastheads				3,991
Goodwill				2,193
Total assets				68,806
Current liabilities				16,785
Total liabilities				16,785
Net assets				$ 52,021
2016 Other Acquisitions [Member]
Business Acquisition [Line Items]
Current assets		$ 16,093
Other assets		4,195
Property, plant and equipment		25,214
Goodwill		48,931
Total assets		153,294
Current liabilities		21,275
Pension obligations		16,299
Other long-term liabilities		8,497
Total liabilities		46,071
Net assets		107,223
2016 Other Acquisitions [Member] | Trade names [Member]
Business Acquisition [Line Items]
Finite-lived intangible assets		2,448
2016 Other Acquisitions [Member] | Mastheads [Member]
Business Acquisition [Line Items]
Finite-lived intangible assets		7,410
2016 Other Acquisitions [Member] | Noncompete agreements [Member]
Business Acquisition [Line Items]
Finite-lived intangibles		670
2016 Other Acquisitions [Member] | Advertiser relationships [Member]
Business Acquisition [Line Items]
Finite-lived intangibles		27,840
2016 Other Acquisitions [Member] | Subscriber relationships [Member]
Business Acquisition [Line Items]
Finite-lived intangibles		11,140
2016 Other Acquisitions [Member] | Customer relationships [Member]
Business Acquisition [Line Items]
Finite-lived intangibles		3,570
2016 Other Acquisitions [Member] | Software [Member]
Business Acquisition [Line Items]
Finite-lived intangibles		$ 5,783

Acquisitions and Dispositions36

Acquisitions and Dispositions - Dispositions (Details) - Dispositions [Member] $ in Thousands	Dec. 10, 2015USD ($)
Business Acquisition [Line Items]
Aggregate sale price	$ 140,000
Working capital adjustment	1,000
Pre-tax gain from disposition	57,072
Current assets	13,372
Property, plant and equipment	39,783
Intangible assets	31,180
Goodwill	6,385
Total assets	90,720
Current liabilities	6,846
Total liabilities	6,846
Net assets	$ 83,874

Acquisitions and Dispositions37

Acquisitions and Dispositions - Pro Forma Information (Details) $ / shares in Units, $ in Thousands	9 Months Ended
	Sep. 27, 2015USD ($)$ / shares
Business Combinations [Abstract]
Revenues | $	$ 832,966
Income from continuing operations | $	$ 6,066
Income from continuing operations per common share:
Basic (in dollars per share) | $ / shares	$ 0.14
Diluted (in dollars per share) | $ / shares	$ 0.14

Share-Based Compensation - Addi

Share-Based Compensation - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands	Mar. 14, 2016	Mar. 14, 2015	Mar. 14, 2014	Feb. 03, 2014	Mar. 31, 2016	Mar. 31, 2015	Sep. 25, 2016	Jun. 26, 2016	Mar. 27, 2016	Sep. 27, 2015	Sep. 25, 2016	Sep. 27, 2015	Dec. 27, 2015
Share-based Compensation Costs [Abstract]
Non-cash compensation expense							$ 609			$ 395	$ 1,846	$ 910
Compensation cost not yet recognized related to non-vested awards							$ 4,482				$ 4,482
Compensation cost not yet recognized related to non-vested awards, weighted average recognition period											1 year 11 months 1 day
Restricted Share Grants [Abstract]
Restricted share grants authorized				15,000,000
Granted (in shares)					13,992	9,735					188,532
Restricted share grants vested in the period											83,303
Forfeited (in shares)											19,689
Unvested RSGs (in shares)							330,388			244,848	330,388	244,848	244,848
Weighted average grant date fair value of unvested RSGs (in dollars per share)							$ 18.24			$ 21.67	$ 18.24	$ 21.67	$ 21.67
Aggregate fair value of unvested RSGs							$ 5,362				$ 5,362
Director
Restricted Share Grants [Abstract]
Granted (in shares)			15,870
Restricted share grants vested in the period	5,280	5,289
Employee
Restricted Share Grants [Abstract]
Granted (in shares)							2,018	10,864	175,650				234,267
Restricted share grants vested in the period											78,023
Forfeited (in shares)							12,376	7,313

Share-Based Compensation - Summ

Share-Based Compensation - Summary of RSG Activity (Details) - $ / shares	1 Months Ended		9 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Sep. 25, 2016
Number of RSGs
Unvested RSGs, beginning balance (in shares)			244,848
Granted (in shares)	13,992	9,735	188,532
Vested (in shares)			(83,303)
Forfeited (in shares)			(19,689)
Unvested RSGs, ending balance (in shares)			330,388
Weighted-Average Grant Date Fair Value
Unvested RSGs, beginning balance, weighted average grant date fair value (in dollars per share)			$ 21.67
Granted (in dollars per share)			15.34
Vested (in dollars per share)			21.51
Forfeited (in dollars per share)			19.22
Unvested RSGs, ending balance, weighted average grant date fair value (in dollars per share)			$ 18.24

Restructuring - Summary of Info

Restructuring - Summary of Information Related to Restructuring Program Activity (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 25, 2016	Sep. 27, 2015	Sep. 25, 2016	Sep. 27, 2015
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning balance			$ 2,521
Restructuring provision included in Integration and Reorganization			7,532
Restructuring accrual assumed from acquisition			95
Cash payments	$ (2,374)	$ (1,584)	(6,257)	$ (4,850)
Restructuring reserve, ending balance	3,891		3,891
Severance and Related Costs [Member]
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning balance			2,199
Restructuring provision included in Integration and Reorganization			6,356
Restructuring accrual assumed from acquisition			52
Cash payments			(5,053)
Restructuring reserve, ending balance	3,554		3,554
Other Costs [Member]
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning balance			322
Restructuring provision included in Integration and Reorganization			1,176
Restructuring accrual assumed from acquisition			43
Cash payments			(1,204)
Restructuring reserve, ending balance	$ 337		$ 337

Restructuring - Summary of Cost

Restructuring - Summary of Costs Incurred and Cash Paid in Connection with Restructuring Programs (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 25, 2016	Sep. 27, 2015	Sep. 25, 2016	Sep. 27, 2015
Restructuring and Related Activities [Abstract]
Severance and related costs	$ 4,666	$ 1,605	$ 6,356	$ 5,168
Severance and other costs assumed from acquisition	0	0	95	0
Other costs	531	33	1,176	53
Cash payments	$ (2,374)	$ (1,584)	$ (6,257)	$ (4,850)

Goodwill and Intangible Asset42

Goodwill and Intangible Assets (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 25, 2016	Dec. 27, 2015
Schedule Finite-Lived and Indefinite Lived Intangible Assets [Line Items]
Gross carrying amount	$ 291,602	$ 240,689
Accumulated amortization	38,131	23,122
Net carrying amount	253,471	217,567
Goodwill and nonamortized intangible assets	$ 312,885	257,127
Weighted average amortization period (in years)	14 years 8 months 12 days
Goodwill [Member]
Schedule Finite-Lived and Indefinite Lived Intangible Assets [Line Items]
Gross carrying amount	$ 219,971	171,119
Mastheads [Member]
Schedule Finite-Lived and Indefinite Lived Intangible Assets [Line Items]
Gross carrying amount	92,914	86,008
Advertiser relationships [Member]
Schedule Finite-Lived and Indefinite Lived Intangible Assets [Line Items]
Gross carrying amount	170,446	143,002
Accumulated amortization	21,739	13,453
Net carrying amount	$ 148,707	129,549
Weighted average amortization period (in years)	15 years 2 months 12 days
Customer relationships [Member]
Schedule Finite-Lived and Indefinite Lived Intangible Assets [Line Items]
Gross carrying amount	$ 23,395	19,829
Accumulated amortization	2,723	1,667
Net carrying amount	$ 20,672	18,162
Weighted average amortization period (in years)	15 years 2 months 12 days
Subscriber relationships [Member]
Schedule Finite-Lived and Indefinite Lived Intangible Assets [Line Items]
Gross carrying amount	$ 88,387	77,385
Accumulated amortization	12,352	7,897
Net carrying amount	$ 76,035	69,488
Weighted average amortization period (in years)	14 years 7 months 6 days
Other intangible assets [Member]
Schedule Finite-Lived and Indefinite Lived Intangible Assets [Line Items]
Gross carrying amount	$ 9,374	473
Accumulated amortization	1,317	105
Net carrying amount	$ 8,057	$ 368
Weighted average amortization period (in years)	5 years 1 month 6 days

Goodwill and Intangible Asset43

Goodwill and Intangible Assets - Amortization Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 25, 2016	Sep. 27, 2015	Sep. 25, 2016	Sep. 27, 2015	Dec. 27, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense, intangible assets	$ 5,407	$ 4,161	$ 15,097	$ 12,119
Estimated Future Amortization Expense [Abstract]
2,016	5,384		5,384
2,017	21,626		21,626
2,018	21,621		21,621
2,019	19,981		19,981
2,020	19,407		19,407
Thereafter	165,452		165,452
Net carrying amount	$ 253,471		$ 253,471		$ 217,567

Goodwill and Intangible Asset44

Goodwill and Intangible Assets - Goodwill Rollforward (Details) $ in Thousands	9 Months Ended
	Sep. 25, 2016USD ($)
Goodwill [Roll Forward]
Goodwill, beginning balance	$ 171,119
Goodwill acquired in business combinations	48,931
Goodwill from divestitures	(79)
Goodwill, ending balance	$ 219,971

Indebtedness - Additional Infor

Indebtedness - Additional Information (Details)	Jan. 09, 2015USD ($)	Sep. 25, 2016USD ($)	Dec. 27, 2015USD ($)	May 29, 2015USD ($)	Mar. 29, 2015USD ($)	Mar. 06, 2015USD ($)	Nov. 20, 2014USD ($)	Sep. 03, 2014USD ($)	Jun. 04, 2014USD ($)
Credit Facility [Line Items]
Long-term debt		$ 339,918,000	$ 350,266,000
New Incremental Term Loan [Member]
Credit Facility [Line Items]
Debt, principal amount								$ 25,000,000
Other Incremental Term Loan [Member]
Credit Facility [Line Items]
Debt, principal amount	$ 102,000,000
New Revolver Loan [Member]
Credit Facility [Line Items]
Debt, principal amount	$ 50,000,000
Additional incremental term loan [Member]
Credit Facility [Line Items]
Debt, principal amount				$ 25,000,000
New Media Credit Agreement [Member] | Successor [Member]
Credit Facility [Line Items]
Weighted average interest rate		7.20%
Debt covenant - maximum fixed charge coverage ratio		3.25
Fair value of long-term debt		$ 363,670,000
New Media Credit Agreement [Member] | Term Loan Facility [Member]
Credit Facility [Line Items]
Long-term debt									$ 200,000,000
New Media Credit Agreement [Member] | Term Loan Facility [Member] | Successor [Member]
Credit Facility [Line Items]
Debt, principal amount									200,000,000
Repayment amount as a percent of original principal amount		1.00%
Frequency of periodic payment		quarterly
New Media Credit Agreement [Member] | Term Loan Facility [Member] | Successor [Member] | Eurodollar [Member]
Credit Facility [Line Items]
Fixed interest rate		6.25%
Variable interest rate		1.00%
New Media Credit Agreement [Member] | Term Loan Facility [Member] | Successor [Member] | Alternate Base Rate [Member]
Credit Facility [Line Items]
Fixed interest rate		5.25%
Variable interest rate		2.00%
New Media Credit Agreement [Member] | Revolving Credit Facility [Member] | Successor [Member]
Credit Facility [Line Items]
Maximum borrowing amount									25,000,000
Maturity date		Jun. 4, 2019
Amount outstanding		$ 0
New Media Credit Agreement [Member] | Revolving Credit Facility [Member] | Successor [Member] | Eurodollar [Member]
Credit Facility [Line Items]
Fixed interest rate		5.25%
New Media Credit Agreement [Member] | Revolving Credit Facility [Member] | Successor [Member] | Alternate Base Rate [Member]
Credit Facility [Line Items]
Fixed interest rate		4.25%
New Media Credit Agreement [Member] | Letter of Credit [Member] | Successor [Member]
Credit Facility [Line Items]
Maximum borrowing amount									5,000,000
New Media Credit Agreement [Member] | Swingline Facility [Member] | Successor [Member]
Credit Facility [Line Items]
Maximum borrowing amount									5,000,000
New Media Credit Agreement [Member] | Incremental Facility [Member]
Credit Facility [Line Items]
Additional revolving commitments						$ 15,000,000
Deferred financing costs capitalized						$ 237,000
New Media Credit Agreement [Member] | Incremental Facility [Member] | Successor [Member]
Credit Facility [Line Items]
Maximum borrowing amount									$ 75,000,000
Maturity date		Jun. 4, 2020
New Media Credit Agreement [Member] | New Incremental Term Loan [Member]
Credit Facility [Line Items]
Maximum borrowing amount							$ 225,000,000
New Media Credit Agreement [Member] | Replacement Term Loans [Member]
Credit Facility [Line Items]
Debt fees expensed					$ 104,000
Advantage Credit Agreements [Member]
Credit Facility [Line Items]
Debt covenant - maximum fixed charge coverage ratio	3.75
Maximum secured debt	$ 15,000,000
Advantage Credit Agreements [Member] | Advantage Florida Debt [Member]
Credit Facility [Line Items]
Debt, principal amount	$ 10,000,000
Interest rate	5.25%
Advantage Credit Agreements [Member] | Advantage Alabama Debt [Member]
Credit Facility [Line Items]
Debt, principal amount	$ 8,000,000
Interest rate	6.25%
Margin rate for LIBOR	1.00%

Indebtedness - Outstanding Debt

Indebtedness - Outstanding Debt Payment Schedule (Details) - USD ($) $ in Thousands	Sep. 25, 2016	Dec. 27, 2015
Debt Disclosure [Abstract]
2,016	$ 877
2,017	13,509
2,018	3,509
2,019	11,509
2,020	334,266
Total outstanding debt	363,670
Short-term debt	13,509	$ 3,509
Remaining original issue discount	7,791
Deferred financing costs	2,452
Long-term debt	$ 339,918	$ 350,266

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($) $ in Thousands	Dec. 29, 2013	Sep. 25, 2016	Sep. 27, 2015	Feb. 13, 2014	Sep. 25, 2016	Sep. 27, 2015	Dec. 27, 2015
Related Party Transaction [Line Items]
Percentage of the Company owned by Newcastle				84.60%
Commercial printing revenue for a related party		$ 156	$ 124		$ 444	$ 356
Management fees		2,390	2,390		7,169	7,049
Incentive compensation fees		1,295	3,486		5,001	8,750
Management fees paid		3,187	1,592		6,372	5,122
Incentive compensation fees paid		817	0		21,755	379
Management agreement related fees liability		7,315			7,315		$ 23,393
Reimbursement for expenses		300	0		$ 1,323	0
Minimum percentage of common stock outstanding required to exercise					3.00%
New Castle Investment Group, Inc. [Member]
Related Party Transaction [Line Items]
Percentage of the Company owned by Newcastle	84.60%
Fortress and its affiliates [Member]
Related Party Transaction [Line Items]
Percentage of the Company owned by Newcastle					1.50%
Percentage of the Company's outstanding warrants owned by Fortress and its affiliates					39.50%
Number of stock options held					1,445,062
Dividends paid		$ 225	$ 675		$ 225	$ 654

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 26, 2016	Mar. 27, 2016	Sep. 25, 2016
Income Tax Disclosure [Abstract]
Net decrease to the valuation allowance			$ 9,509
Valuation allowance decrease recognized in income			$ 9,509
Federal tax rate			34.00%
Expected federal tax expense			$ 4,233
Effective tax benefit			4,695
Federal valuation release, tax effect			9,509
Non-deductible expenses, tax effect			259
State tax provision			403
Release of unrecognized tax benefits			$ 81
Income tax benefit related to acquisitions	$ 991	$ 5,119

Earnings Per Share - Computatio

Earnings Per Share - Computation of Basic and Diluted Earnings (Loss) Per Share (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 25, 2016	Sep. 27, 2015	Sep. 25, 2016	Sep. 27, 2015
Numerator for earnings per share calculation:
Net income	$ 2,795	$ 6,108	$ 17,145	$ 11,237
Denominator for earnings per share calculation:
Basic weighted average shares outstanding (shares)	44,533,517	44,465,646	44,515,167	43,896,989
Effect of dilutive securities:
Stock Options and Restricted Stock (shares)	141,376	19,729	84,891	189,752
Diluted weighted average shares outstanding (shares)	44,674,893	44,485,375	44,600,058	44,086,741

Earnings Per Share - Additiona

Earnings Per Share - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended			3 Months Ended		9 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Jan. 31, 2015	Sep. 25, 2016	Sep. 27, 2015	Sep. 25, 2016	Sep. 27, 2015	Jul. 28, 2016	Apr. 28, 2016	Feb. 25, 2016	Dec. 27, 2015	Oct. 29, 2015	Jul. 30, 2015	Apr. 30, 2015
Class of Stock [Line Items]
Common stock warrants outstanding (in shares)				1,362,479	1,362,479	1,362,479	1,362,479
Stock options excluded from computation diluted shares				700,000	700,000	700,000	0
Shares of common stock issued in public offering			7,000,000
Issuance of common stock, price per share (in dollars per share)			$ 21.70
Proceeds from public offering			$ 150,129			$ 0	$ 150,866
Options granted to Manager to purchase shares of common stock			700,000
Option to purchase shares of common stock, price per share (in dollars per share)			$ 21.70
Granted	13,992	9,735				188,532
Liability settlement	$ 225	$ 225
Dividends declared, per share (in dollars per share)								$ 0.33	$ 0.33	$ 0.33		$ 0.33	$ 0.33	$ 0.33
Common stock, par value (in dollars per share)				$ 0.01		$ 0.01		$ 0.01	$ 0.01	$ 0.01	$ 0.01	$ 0.01	$ 0.01	$ 0.01
Fortress and certain of Company's officers and directors [Member]
Class of Stock [Line Items]
Shares of common stock issued in public offering			104,400
Issuance of common stock, price per share (in dollars per share)			$ 21.70
Manager [Member]
Class of Stock [Line Items]
Fair value of options granted			$ 4,144
Risk-free rate			2.00%
Dividend yield			3.40%
Volatility rate			36.80%
Expected term			10 years
Restricted share grants [Member]
Class of Stock [Line Items]
Restricted share grants excluded from computation of diluted income per share				244,848		0

Pension and Postretirement Be51

Pension and Postretirement Benefits (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 25, 2016USD ($)	Sep. 27, 2015USD ($)	Sep. 25, 2016USD ($)plan	Sep. 27, 2015USD ($)
Pension and Other Postretirement Benefit Expense [Abstract]
Pension and other postretirement benefit expense	$ (76)	$ 37	$ (235)	$ 110
Pension [Member]
Defined Benefit Plan Disclosure [Line Items]
Number of pension plans | plan			2
Components of net periodic benefit costs:
Service cost	75	75	$ 225	225
Interest cost	813	289	2,431	867
Expected return on plan assets	(1,044)	(411)	(3,133)	(1,232)
Amortization of unrecognized loss	20	24	61	70
Total	(136)	(23)	(416)	(70)
Pension and Other Postretirement Benefit Expense [Abstract]
Pension contributions	640		1,283
Expected employer contributions during the current fiscal year			339
Postretirement [Member]
Components of net periodic benefit costs:
Service cost	4	5	14	14
Interest cost	56	55	167	166
Expected return on plan assets	0	0	0	0
Amortization of unrecognized loss	0	0	0	0
Total	$ 60	$ 60	$ 181	$ 180

Fair Value Measurement (Details

Fair Value Measurement (Details) - USD ($) $ in Thousands	Sep. 25, 2016	Dec. 27, 2015	Sep. 27, 2015	Dec. 28, 2014
Assets, Fair Value Disclosure [Abstract]
Cash and cash equivalents	$ 54,520	$ 146,638	$ 30,330	$ 123,709
Restricted cash	3,706	6,967
Recurring [Member]
Assets, Fair Value Disclosure [Abstract]
Cash and cash equivalents	54,520	146,638
Restricted cash	3,706	6,967
Recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]
Assets, Fair Value Disclosure [Abstract]
Cash and cash equivalents	54,520	146,638
Restricted cash	$ 3,706	$ 6,967

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($) $ in Thousands	Sep. 25, 2016	Dec. 27, 2015
Restricted Cash and Investments, Current [Abstract]
Restricted cash - Collateral standby letters of credit in the name of the Company's insurers	$ 3,706	$ 6,967

Subsequent Events (Details)

Subsequent Events (Details) $ / shares in Units, $ in Thousands	Sep. 30, 2016USD ($)company	Sep. 25, 2016$ / shares	Oct. 27, 2016$ / shares	Jul. 28, 2016$ / shares	Apr. 28, 2016$ / shares	Feb. 25, 2016$ / shares	Dec. 27, 2015$ / shares	Oct. 29, 2015$ / shares	Jul. 30, 2015$ / shares	Apr. 30, 2015$ / shares
Subsequent Event [Line Items]
Dividends declared, per share (in dollars per share)				$ 0.33	$ 0.33	$ 0.33		$ 0.33	$ 0.33	$ 0.33
Common stock, par value (in dollars per share)		$ 0.01		$ 0.01	$ 0.01	$ 0.01	$ 0.01	$ 0.01	$ 0.01	$ 0.01
Dividend payable date		Nov. 17, 2016
Dividend record date		Nov. 9, 2016
Subsequent Event [Member]
Subsequent Event [Line Items]
Dividends declared, per share (in dollars per share)			$ 0.35
Common stock, par value (in dollars per share)			$ 0.01
Series of Individually Immaterial Business Acquisitions [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Number of companies acquired | company	2
Aggregate purchase price | $	$ 8,500