Tribune Publishing (TPCO) 10-Q 10 Aug 18 2018 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jul. 01, 2018	Aug. 08, 2018
Document and Entity Information [Abstract]
Entity Registrant Name	tronc, Inc.
Entity Central Index Key	1,593,195
Current Fiscal Year End Date	--12-30
Entity Filer Category	Accelerated Filer
Document Type	10-Q
Document Period End Date	Jul. 1, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity Common Stock, Shares Outstanding		35,460,739

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 01, 2018	Jun. 25, 2017	Jul. 01, 2018	Jun. 25, 2017
Income Statement [Abstract]
Operating revenues	$ 253,037	$ 243,435	$ 491,576	$ 483,410
Operating expenses:
Compensation	106,455	92,609	217,293	189,003
Newsprint and ink	16,770	14,091	31,368	28,425
Outside services	81,818	80,526	180,803	161,021
Other operating expenses	36,297	38,760	69,159	76,526
Depreciation and amortization	12,942	12,987	25,959	23,682
Total operating expenses	254,282	238,973	524,582	478,657
Income (loss) from operations	(1,245)	4,462	(33,006)	4,753
Interest expense, net	(5,412)	(6,365)	(11,976)	(12,800)
Loss on early extinguishment of debt	(7,666)	0	(7,666)	0
Premium on stock buyback	0	0	0	(6,031)
Loss on equity investments, net	(665)	(723)	(1,394)	(1,621)
Other income, net	3,640	284	7,303	567
Loss from continuing operations before income taxes	(11,348)	(2,342)	(46,739)	(15,132)
Income tax expense (benefit)	3,753	(402)	(2,926)	(2,280)
Loss from continuing operations	(15,101)	(1,940)	(43,813)	(12,852)
Plus: Earnings from discontinued operations, net of taxes	280,545	8,781	294,745	16,704
Loss from continuing operations	265,444	6,841	250,932	3,852
Less: Net income from continuing operations attributable to noncontrolling interest	448	0	710	0
Net income available to tronc stockholders	$ 264,996	$ 6,841	$ 250,222	$ 3,852
Loss from continuing operations per common share:
Basic (in dollars per share)	$ (0.44)	$ (0.06)	$ (1.27)	$ (0.37)
Diluted (in dollars per share)	(0.44)	(0.06)	(1.27)	(0.37)
Net income attributable to tronc per common share:
Basic (in dollars per share)	7.51	0.21	7.14	0.11
Diluted (in dollars per share)	$ 7.51	$ 0.21	$ 7.14	$ 0.11
Weighted average shares outstanding:
Basic (in shares)	35,288	32,825	35,045	34,566
Diluted (in shares)	35,288	32,825	35,045	34,566

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 01, 2018	Jun. 25, 2017	Jul. 01, 2018	Jun. 25, 2017
Statement of Comprehensive Income [Abstract]
Net income	$ 265,444	$ 6,841	$ 250,932	$ 3,852
Other comprehensive income, net of taxes:
Amortization of items to periodic pension cost during the period, net of taxes of ($915), ($133), ($1,830) and ($267), respectively	(2,376)	(206)	(4,752)	(410)
Foreign currency translation	(5)	1	(5)	1
Other comprehensive loss, net of taxes	(2,381)	(205)	(4,757)	(409)
Accumulated other comprehensive income recognized in discontinued operations, net of taxes of $9,702	25,397	0	25,397	0
Comprehensive income	288,460	6,636	271,572	3,443
Comprehensive income attributable to noncontrolling interest	448	0	710	0
Comprehensive income attributable to tronc common stockholders	$ 288,012	$ 6,636	$ 270,862	$ 3,443

CONSOLIDATED STATEMENTS OF COM4

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 01, 2018	Jun. 25, 2017	Jul. 01, 2018	Jun. 25, 2017
Statement of Comprehensive Income [Abstract]
Tax effect	$ (915)	$ (133)	$ (1,830)	$ (267)
Accumulated OCI recognized in discontinued operations - tax	$ 9,702		$ 9,702

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jul. 01, 2018	Dec. 31, 2017
Current assets
Cash	$ 214,544	$ 185,351
Accounts receivable, (net of allowances of $10,613 and $7,388)	133,103	129,480
Inventories	11,017	7,412
Prepaid expenses and other	22,859	22,685
Assets related to discontinued operations	0	61,777
Total current assets	381,523	406,705
Property, plant and equipment
Machinery, equipment and furniture	145,905	110,598
Buildings and leasehold improvements	55,473	36,987
Property, plant and equipment, gross	201,378	147,585
Accumulated depreciation	(68,314)	(61,481)
Property, plant and equipment, net, excluding advance payments	133,064	86,104
Advance payments on property, plant and equipment	11,616	8,386
Property, plant and equipment, net	144,680	94,490
Other assets
Goodwill	138,201	48,700
Intangible assets, net	80,525	64,996
Software, net	33,238	39,577
Restricted cash	42,600	0
Deferred income taxes	0	1,124
Other long-term assets	29,502	31,163
Assets related to discontinued operations	0	178,378
Total other assets	324,066	363,938
Total assets	850,269	865,133
Current liabilities
Accounts payable	85,625	65,724
Employee compensation and benefits	48,989	49,109
Deferred revenue	62,675	50,314
Current portion of long-term debt	702	21,487
Other current liabilities	22,701	13,876
Liabilities associated with discontinued operations	107,624	60,394
Total current liabilities	328,316	260,904
Non-current liabilities
Pension and postretirement benefits payable	21,069	23,438
Deferred income taxes payable	5,970	0
Deferred revenue	3,207	4,818
Long-term debt	6,797	331,065
Workers’ compensation, general liability and auto insurance payable	31,604	37,869
Other obligations	32,810	21,522
Liabilities associated with discontinued operations	0	116,355
Total non-current liabilities	101,457	535,067
Noncontrolling interest	41,610	0
Stockholders’ equity
Preferred stock, $.01 par value. Authorized 30,000 shares; no shares issued or outstanding at July 1, 2018 and December 31, 2017	0	0
Common stock, $.01 par value. Authorized 300,000 shares, 37,243 shares issued and 35,289 shares outstanding at July 1, 2018; 37,551 shares issued and 33,684 shares outstanding at December 31, 2017	372	376
Additional paid-in capital	163,729	150,229
Retained earnings (accumulated deficit)	233,832	(16,390)
Accumulated other comprehensive income (loss)	7,113	(13,527)
Treasury stock, at cost - 1,954 shares at July 1, 2018 and 3,867 shares at December 31, 2017	(26,160)	(51,526)
Total stockholders’ equity	378,886	69,162
Total liabilities and stockholders’ equity	$ 850,269	$ 865,133

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Jul. 01, 2018	Dec. 31, 2017
Statement of Financial Position [Abstract]
Allowances for doubtful accounts	$ 10,613	$ 7,388
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	30,000,000	30,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	300,000,000	300,000,000
Common stock, shares issued (in shares)	37,243,000	37,551,000
Common stock, shares outstanding (in shares)	35,289,000	33,684,000
Treasury stock, shares (in shares)	1,954,000	3,867,000

CONSOLIDATED STATEMENT OF EQUIT

CONSOLIDATED STATEMENT OF EQUITY - 6 months ended Jul. 01, 2018 - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Additional Paid in Capital	Retained earnings	AOCI	Treasury Stock
Balance at beginning of period (in shares) at Dec. 31, 2017		37,551
Balance at beginning of period at Dec. 31, 2017	$ 69,162	$ 376	$ 150,229	$ (16,390)	$ (13,527)	$ (51,526)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Comprehensive income (loss) recognized in continuing operations, attributable to controlling interests	245,465			250,222	(4,757)
Accumulated other comprehensive income recognized in discontinued operations, net of taxes of $9,702	25,397
Issuance of stock from treasury for acquisition	34,595		9,229			25,366
Issuance of stock from restricted stock and restricted stock unit conversions (in shares)		134
Issuance of stock from restricted stock and restricted stock unit conversions	0	$ 1	(1)
Exercise of stock options (in shares)		7
Exercise of stock options	134		134
Stock-based compensation	5,195		5,195
Withholding for taxes on restricted stock unit conversions	(1,062)		(1,062)
Forfeited restricted stock (in shares)		(450)
Forfeited restricted stock	0	$ (5)	5
Balance at end of the period (in shares) at Jul. 01, 2018		37,242
Balance at end of period at Jul. 01, 2018	$ 378,886	$ 372	$ 163,729	$ 233,832	$ 7,113	$ (26,160)

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jul. 01, 2018	Jun. 25, 2017
Operating Activities From Continuing Operations
Net income (loss)	$ (43,813)	$ (12,852)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization	25,959	23,682
Stock compensation expense	5,195	4,069
Loss on equity investments, net	1,394	1,261
Loss on early extinguishment of debt	7,666	0
Deferred income taxes	7,094	3,228
Non-current deferred revenue	(3,722)	(711)
Premium on stock buyback	0	6,031
Pension contribution	(534)	0
Postretirement medical, life and other benefits	(2,369)	(934)
Changes in working capital items, excluding acquisitions:
Accounts receivable, net	15,801	22,715
Prepaid expenses, inventories and other current assets	16,934	(1,190)
Accounts payable, employee compensation and benefits, deferred revenue and other current liabilities	9,898	(41,258)
Other, net	1,676	2,675
Net cash provided by operating activities	41,179	6,716
Investing Activities From Continuing Operations
Capital expenditures	(30,435)	(9,240)
Acquisition of business, net of cash acquired	(67,952)	0
Other, net	(2,371)	(1,481)
Net cash used for investing activities	(100,758)	(10,721)
Financing Activities From Continuing Operations
Repayment of long-term debt	(353,253)	(10,545)
Purchase of treasury stock	0	(56,189)
Withholding for taxes on RSU vesting	(1,062)	(896)
Dividends paid to common stockholders	0	(145)
Proceeds from exercise of stock options	134	95
Other	36	0
Net cash used for financing activities	(354,145)	(67,680)
Decrease in cash attributable to continuing operations	(413,724)	(71,685)
Cash Flows From Discontinued Operations
Cash flows provided by operating activities of discontinued operations, net	2,387	48,183
Cash flows provided by (used for) investing activities of discontinued operations, net	483,320	(388)
Cash flows used for financing activities of discontinued operations, net	(190)	(259)
Increase in cash attributable to discontinued operations	485,517	47,536
Net increase (decrease) in cash	71,793	(24,149)
Cash, cash equivalents and restricted cash beginning of period	185,351	198,349
Cash, cash equivalents and restricted cash, end of period	$ 257,144	$ 174,200

DESCRIPTION OF BUSINESS AND BAS

DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION	6 Months Ended
	Jul. 01, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION	DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION Description of Business —tronc, Inc., formerly Tribune Publishing Company, was formed as a Delaware corporation on November 21, 2013. tronc, Inc. together with its subsidiaries (collectively, the “Company” or “tronc”) is a media company rooted in award-winning journalism. Headquartered in Chicago, tronc operates local media businesses in eight markets with titles including the Chicago Tribune, New York Daily News, The Baltimore Sun, Orlando Sentinel, South Florida’s Sun Sentinel , Virginia’s Daily Press and The Virginian-Pilot , The Morning Call of Lehigh Valley, Pennsylvania and the Hartford Courant. tronc also operates Tribune Content Agency and the Daily Meal and on February 6, 2018, the Company became a majority owner in BestReviews LLC (“BestReviews”). On May 18, 2018, the Company acquired Virginian-Pilot Media Companies LLC, owner of the The Virginian-Pilot a daily newspaper based in Norfolk, Virginia and associated businesses (“Virginian-Pilot”). See Note 5 for further information on acquisitions. On May 23, 2018, the Company completed the sale of substantially all of the assets of forsalebyowner.com and on June 18, 2018, the Company completed the sale of the Los Angeles Times , The San Diego Union-Tribune and various other titles of the Company’s California properties (“California Properties”) . See Note 6 for more information on the dispositions and related discontinued operations. tronc’s continuing legacy of brands, including the New York Daily News and The Virginian-Pilot, have earned a combined 60 Pulitzer Prizes and are committed to informing, inspiring and engaging local communities. tronc’s brands create and distribute content across its media portfolio, offering integrated marketing, media, and business services to consumers and advertisers, including digital solutions and advertising opportunities. Fiscal Periods —The Company’s fiscal year ends on the last Sunday in December. Fiscal year 2018 ends on December 30, 2018 and fiscal year 2017 ended on December 31, 2017. Fiscal year 2018 is a 52-week year with 13 weeks in each quarter. Fiscal year 2017 was a 53-week year with 13 weeks in the first through third quarters and 14 weeks in the fourth quarter. Basis of Presentation —T he accompanying unaudited Consolidated Financial Statements and notes of the Company have been prepared in accordance with United States generally accepted accounting principles ( “U.S. GAAP ”). The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the unaudited Consolidated Financial Statements and accompanying notes. Actual results could differ from these estimates. In the opinion of management, the financial statements contain all adjustments necessary to present fairly the financial position of tronc as of July 1, 2018 and December 31, 2017 and the results of operations for the three and six months ended July 1, 2018 and June 25, 2017 , respectively, and the cash flows for the six months ended July 1, 2018 and June 25, 2017 , respectively. This includes all normal and recurring adjustments and elimination of intercompany transactions. Results of operations for interim periods are not necessarily indicative of the results to be expected for the full year. The year-end Consolidated Balance Sheet was derived from audited financial statements but does not include all disclosures required by U.S. GAAP. Effective as of the sale dates, the operations of the California Properties and forsalebyowner.com qualify as discontinued operations. Accordingly, operations for all periods presented have been reflected as discontinued operations in the accompanying Consolidated Statements of Income and Consolidated Statements of Cash Flows. Additionally, assets and liabilities related to the divested properties are classified as such in all prior periods in the Consolidated Condensed Balance Sheets. Unless otherwise noted, amounts and disclosures throughout these Notes to Consolidated Financial Statements relate to continuing operations and exclude all discontinued operations including the California Properties and forsalebyowner.com. The Company assesses its operating segments in accordance with ASC Topic 280, “Segment Reporting.” The Company is managed by its chief operating decision maker, as defined by ASC Topic 280, in two reportable segments, troncM and troncX. troncM is comprised of the Company’s media groups excluding their digital revenues and related digital expenses, except digital subscription revenues when bundled with a print subscription. troncX includes the Company’s digital revenues and related digital expenses from local tronc websites, third party websites, mobile applications, digital-only subscriptions, BestReviews and Tribune Content Agency (“TCA”). See Note 17 for additional segment information. New Accounting Standards —In February 2018, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2018-02, Topic 220, Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income. The ASU amends ASC 220, Income Statement — Reporting Comprehensive Income, to “allow a reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the Tax Cuts and Jobs Act.” In addition, under the ASU, an entity will be required to provide certain disclosures regarding stranded tax effects. The ASU is effective for all entities for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. The Company is currently evaluating how the adoption of this standard will impact the Company’s consolidated financial statements. In March 2017, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2017-07, Topic 715, Compensation - Retirement Benefits; Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost . ASU 2017-07 requires the disaggregation of the service cost component from other components of net periodic benefit cost, clarifies how to present the service cost component and other components of net benefit costs in the financial statements and allows only the service cost component of net benefit costs to be eligible for capitalization. The Company adopted the standard on January 1, 2018 and has applied the standard on a retrospective basis. Accordingly, prior period amounts have been adjusted. Adoption of the standard had no effect on the Company’s overall results of operations. The disclosures required by the standard can be found in Note 11 . In January 2017, the FASB issued ASU 2017-04, Topic 350, Intangibles-Goodwill and Other; Simplifying the Test for Goodwill Impairment , which eliminates Step 2 from the goodwill impairment test thereby standardizing the impairment assessment to measure a reporting unit’s carrying value against its fair value and eliminate the calculation of an implied fair value of goodwill. ASU 2017-04 is effective for interim and annual reporting periods beginning after December 15, 2019 and should be applied prospectively. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. The Company is currently evaluating how the adoption of this standard will impact the Company’s consolidated financial statements. In January 2017, the FASB issued ASU 2017-01, Topic 805, Clarifying the Definition of a Business , which establishes criteria to determine when an integrated set of assets and activities is not a business. ASU 2017-01 is effective for interim and annual reporting periods beginning after December 15, 2017 and should be applied prospectively. The Company adopted the standard effective January 1, 2018 and will apply the standard to acquisitions or dispositions after that date. In November 2016, the FASB issued ASU 2016-18, Topic 230, Statement of Cash Flows , which clarifies how companies present and classify restricted cash in the statement of cash flows. ASU 2016-18 is effective for interim and annual reporting periods beginning after December 15, 2017. The guidance is required to be applied on a retrospective basis. The Company adopted the standard effective January 1, 2018. The adoption had no retrospective effect on the Company’s consolidated financial statements as the Company had no restricted cash during 2017 or the first quarter of 2018. However, beginning the in the second quarter of 2018, the Company has restricted cash and the restricted cash balances are included in the beginning and ending cash balances in the statements of cash flows and Note 18 provides a reconciliation between cash balances presented on the balance sheets with the amounts presented in the statements of cash flows. In August 2016, the FASB issued ASU 2016-15, Topic 230, Statement of Cash Flows , which clarifies how companies present and classify certain cash receipts and cash payments in the statement of cash flows. ASU 2016-15 is effective for interim and annual reporting periods beginning after December 15, 2017. The guidance is required to be applied on a retrospective basis. The Company adopted the standard effective January 1, 2018. The adoption had no effect on the Company’s consolidated financial statements. In February 2016, the FASB issued ASU 2016-02, Topic 842, Leases , which requires lessees to recognize lease assets and lease liabilities for operating leases. The Company expects to adopt this standard in the first quarter of 2019 using the transition option whereby companies may initially apply the new standard at the adoption date and recognize a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption. The Company has initiated efforts to assess the impact of this new standard on the Company’s future reported results and operating and accounting processes and systems. The Company expects to elect the practical expedients which allow the Company to forgo reassessing whether existing contracts are or contain leases, forgo reassessing the classification of existing leases and forgo reassessing initial direct costs of existing leases at the initial application date. In May 2014, the FASB issued ASU 2014-09, Topic 606, Revenue from Contracts with Customers and issued subsequent amendments to the initial guidance in August 2015, March 2016, April 2016, May 2016, and December 2016 within ASU 2015-14, ASU 2016-08, ASU 2016-10, ASU 2016-12 and ASU 2016-20, respectively. The new standard supersedes a majority of existing revenue recognition guidance under U.S. GAAP and requires a company to recognize revenue when it transfers goods or services to a customer in an amount that reflects the consideration to which a company expects to be entitled. Companies may need to use more judgment and make more estimates while recognizing revenue, which could result in additional disclosures to the financial statements. On January 1, 2018, the Company adopted ASU 2014-09 using the modified retrospective method applied to those contracts which were not completed as of January 1, 2018. Results of operations for periods after January 1, 2018 reflect the changes under ASU 2014-09. Results of operations for periods before January 1, 2018, continue to be reported under guidance in effect at that time. The adoption did not have a material effect on the Company’s consolidated financial statements. See Note 2 for disclosures as a result of the adoption.

REVENUE RECOGNITION (Notes)

REVENUE RECOGNITION (Notes)	6 Months Ended
	Jul. 01, 2018
Revenue from Contract with Customer [Abstract]
Revenue Recognition	REVENUE RECOGNITION Revenues are recognized when control of the promised goods or services is transferred to customers, in an amount that reflects the consideration the Company expects to be entitled to in exchange for goods or services. Revenues are recognized as performance obligations that are satisfied at either a point in time, such as when an advertisement is published, or over time, such as content licensing. Advertising revenue Print advertising revenue is typically in the form of print display appearing in tronc newspapers and preprinted advertising inserted into tronc newspapers. Digital advertising consists of website display, banner ads, advertising widgets, coupon ads, video, search advertising and linear ads placed by tronc on websites. Customers submit ads to appear either in the print newspapers or on websites. Advertising revenue is recognized when the Company satisfies the performance obligation by transferring the promised goods or services to the customer in an amount that reflects the consideration the Company is entitled to receive. For print advertising, classified and preprint advertising, this transfer, which occurs at a point in time, occurs when the advertising appears in the newspaper. Digital advertising is typically sold on a cost-per-impression basis. An advertiser pays an amount based on the number of times their ad is displayed on the Company’s websites. Revenue is recognized at a point in time when the ad is displayed on the websites. Advertising revenue also includes digital marketing services which include development of mobile websites, search engine marketing and optimization, social media account management and content marketing for customers’ web presence for small to medium size businesses. For mobile website development, revenue is recognized when the website is live. For search engine marketing and optimization, social account management and content marketing, revenue is recognized over the period of time the service is performed for the customer. Certain customers receive cash-based incentives or credits, which are accounted for as variable consideration. The Company estimates these amounts based on the expected amount to be provided to customers and reduces revenues recognized. The Company expects there will be no significant changes to our estimates of variable consideration. Circulation revenue Circulation revenue results from the sale of print editions of newspapers to individual subscribers and to sales outlets that re-sell the newspapers. For individual subscribers, revenue is recognized at a point in time when the newspapers are delivered to the subscribers. For sales outlets, revenue is recognized at a point in time when the newspapers are delivered to the sales outlets or to an intermediary which has purchased the newspapers to resell to the sales outlets. Other revenue Other revenues are derived from commercial printing and delivery services provided to other newspapers, direct mail advertising and services, syndication and licensing revenue, ecommerce lead generation revenue and digital-only subscriptions. Digital circulation revenue results from the provision of online content to subscribers. tronc recognizes revenue daily, per the contract term as the customer receives access to digital content. For commercial printing and delivery services, t he Company contracts with a number of national and local newspapers to both print and/or distribute their respective publications in local markets where it is a newspaper publisher. For commercial printing, revenue is recognized as the papers are printed and available for delivery. For commercial delivery, the Company operates under two models, the buy/sell model and the fee-for-delivery model. Under the buy/sell model, the Company buys the customers newspapers and resells them to subscribers and sales outlets. Revenue the Company receives for the sale of the newspapers is recognized when the newspapers are delivered to subscribers or sales outlets. Under the fee-for-delivery model, the Company receives a fee for each newspaper delivered. Revenue is recognized at the time the newspaper is delivered either to the subscriber or to the sales outlet. For direct mail advertising and services, the Company enters into an arrangement with customers to design, print and distribute advertising materials. Revenue is recognized when the items are delivered to the postage courier. For licensing and syndication revenue, the Company enters into a sales-based royalty arrangement with the customer to provide a license to tronc content. The Company receives a periodic royalty payment based on usage of the content or derived sales of the content. Revenue is recognized based on royalties received. For ecommerce lead generation revenue, the Company provides leads to ecommerce sites such as Amazon.com and Walmart.com. Once the leads convert to sales on these sites, the Company receives a percentage of the sales. Revenue is recognized when the leads have been converted to sales, net of a reserve for returned items. The Company’s revenues disaggregated by type of revenue and segment are presented in Note 17 . The Company receives a significant portion of the payments from its subscribers in advance of the delivery of the content both either in print or digitally. These up-front payments and fees are recorded as deferred revenue upon receipt and generally require deferral of revenue recognition to a future period until the Company performs its obligations under the subscription agreement. The deferred revenue is recognized as revenue as the content is delivered. The deferred revenue is considered a contract liability under ASC 606. Amounts are recorded as accounts receivable when the Company’s right to consideration is unconditional. Therefore, the Company has no contract assets as defined under ASC 606. As of December 31, 2017, the Company had a contract liabilities balance from continuing operations of $55.1 million , of which $41.5 million has been recognized as revenue in the six months ended July 1, 2018 . The balance as of December 31, 2017 and the revenue recognized during the six months ended July 1, 2018 exclude amounts related to discontinued operations. The Company generally expenses sales commissions when incurred because the amortization period would have been one year or less. These costs are recorded within cost of sales. Additionally, the Company does not disclose the value of unsatisfied performance obligations because the vast majority of contracts have original expected lengths of one year or less and payment terms are generally short-term in nature unless a customer is in bankruptcy.

CHANGES IN OPERATIONS

CHANGES IN OPERATIONS	6 Months Ended
	Jul. 01, 2018
Restructuring and Related Activities [Abstract]
CHANGES IN OPERATIONS	CHANGES IN OPERATIONS Employee Reductions The Company continually assesses its operations in an effort to identify opportunities to enhance operational efficiencies and reduce expenses. In the past these activities have included, and could include in the future, outsourcing of various functions or operations, abandonment of leased space and other activities which may result in changes to employee headcount. The discussion and amounts below represent activity in the Company’s continuing operations and exclude any amounts in the Company’s assets, liabilities or operations from discontinued operations. During the second quarter of 2017, the Company contracted with a third party to outsource the printing, packaging and delivery of the Orlando Sentinel . The services were fully transitioned to the third party by the end of the third quarter of 2017. The change in operations resulted in staff reductions of 112 positions and a pretax charge related to those reductions of $2.3 million for the three and six months ended June 25, 2017 . The related salary continuation payments began in the third quarter of 2017 and are expected to continue through the fourth quarter of 2018. The Company implemented reductions of 106 and 287 positions during the three and six months ended July 1, 2018 , respectively, a nd recorded pretax charges related to these reductions of $5.0 million and $10.7 million , respectively. In addition to the action described above, the Company implemented reductions of 41 and 92 positions during the three and six months ended June 25, 2017 , respectively, and recorded pretax charges related to these reductions of $0.9 million and $3.0 million during the three and six months ended June 25, 2017 , respectively. A summary of the activity with respect to the Company’s severance accrual for the six months ended July 1, 2018 is as follows (in thousands): Balance at December 31, 2017 $ 11,532 Provision 10,691 Payments (12,681 ) Balance at July 1, 2018 $ 9,542 Charges for severance and related expenses are included in compensation expense in the accompanying Consolidated Statements of Income . Subsequent to July 1, 2018 , the Company implemented reductions of 178 positions of which approximately 50% were at the New York Daily News. The Company is expected to take a total pre-tax charge of between $5.2 million and $5.4 million in the third quarter of 2018 related to such reductions. The related salary continuation payments will start in the third quarter of 2018 and continue until the third quarter of 2019. Lease Abandonment A summary of the activity with respect to the Company’s lease abandonment accrual for the six months ended July 1, 2018 is as follows (in thousands): Balance at December 31, 2017 $ 3,127 Provision 33 Payments and other (1,977 ) Balance at July 1, 2018 $ 1,183 These charges are included in other operating expenses in the accompanying Consolidated Statements of Income .

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	6 Months Ended
	Jul. 01, 2018
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	RELATED PARTY TRANSACTIONS See Note 6 for related party income and expenses included in discontinued operations, including the Nant transaction. Merrick Consulting Agreement On December 20, 2017, the Company entered into a Consulting Agreement with Merrick Ventures LLC (“Merrick Ventures”) and solely for certain sections thereof, Michael W. Ferro, Jr. and Merrick Media, LLC (“Merrick Media”). Mr. Ferro is: (1) Chairman and Chief Executive Officer of Merrick Ventures and (2) the manager of Merrick Venture Management, LLC which is the sole manager of Merrick Media. At the time the agreement was signed, Mr. Ferro was also Chairman of tronc’s Board of Directors and, together with Merrick Ventures and Merrick Media, a significant stockholder. The Consulting Agreement provided for the engagement of Merrick Ventures on a non-exclusive basis to provide certain management expertise and technical services for an annual fee of $5 million in cash, payable in advance on the first business day of each calendar year. The Consulting Agreement provided for a rolling three -year term, with the initial term continuing through December 31, 2020. The Company made the initial $5.0 million payment in early January 2018. During the term of the Consulting Agreement, Merrick Ventures and Mr. Ferro agreed to certain non-competition covenants relating to engaging in certain other daily printed newspaper businesses, subject to certain exceptions, and amended certain terms of the Securities Purchase Agreement by and among the Company, Merrick Media and Mr. Ferro. The Consulting Agreement also provided for termination of the Aircraft Dry Sublease Agreement described below, as of December 31, 2017 and after such time, Merrick Ventures and Mr. Ferro are responsible for all travel expenses (including private plane expenses) incurred by them in performance of their services for the Company, rather than the Company reimbursing them for such expenses. Such Aircraft Dry Sublease expenses totaled $3.0 million in fiscal 2017 and $2.7 million in fiscal 2016. On March 18, 2018, Mr. Ferro retired from the Company’s Board. As Mr. Ferro is no longer actively engaged in the business and the Company remained contractually committed for the future payments due under the Consulting Agreement, the Company recognized expense for the full $15.0 million due under the Consulting Agreement in outside services in the first quarter of 2018. In the second quarter of fiscal 2018, the Company amended the Consulting Agreement. The amendment reduced the total fees due under the Consulting Agreement by $2.5 million (from $15 million to $12.5 million ) and allows the Company to engage Merrick Ventures as its advisor, if it so chooses, but at no additional cost to the Company. If so engaged, the Company would indemnify Merrick Ventures if the Company requests it to meet with third parties. In June 2018, the Company paid the remaining $7.5 million in fees due under the amended Consulting Agreement in connection with the execution of the amendment. The Company recognized a credit of $2.5 million for the reduction in fees due under the Consulting Agreement in outside services in the second quarter of 2018. The non-compete covenants and amended Securities Purchase Agreement terms contained in the Consulting Agreement were not altered by the amendment and remain in place through December 31, 2020. In the second quarter, the Company agreed to pay $0.3 million in legal fees incurred by Mr. Ferro while conducting the Company’s business. Such legal fees will be paid directly to the legal firms. Aircraft Dry Sublease During 2017, the Company was party to an Aircraft Dry Sublease Agreement with Merrick Ventures. Under the agreement, the Company subleased on a non-exclusive basis, a Bombardier aircraft leased by Merrick Ventures, which included the Company’s proportionate share of the insurance premiums and maintenance expenses and for charges attributable to the Company for the operation of the aircraft by the Company during the lease term. This lease was terminated effective December 31, 2017. During the three and six months ended June 25, 2017 , the Company incurred $0.6 million and $1.3 million related to the aircraft sublease. For the three and six months ended June 25, 2017 , the Company paid $0.4 million and $1.0 million to Merrick Ventures and $0.1 million and $0.2 million to an outside party for pilot services. Event tickets In April 2017, the Company acquired Merrick Ventures’ interest and obligations in connection with the license of a suite and tickets to certain sporting events. The suite and tickets were utilized in the Company’s sales and marketing efforts and for other corporate purposes. The aggregate cost of the suite and regular season tickets approximated $0.3 million annually. During the first quarter of 2017, the Company paid Merrick Ventures $0.2 million for the face value of the suite and tickets for events. There are no further obligations to Merrick Ventures for these tickets. Nucleus Marketing Solutions, LLC In April 2016, tronc, along with other leading media companies McClatchy, Gannett and Hearst, formed Nucleus Marketing Solutions, LLC (“Nucleus”). This network connects national advertisers to audiences across existing and emerging print and digital platforms. Nucleus works with its marketing partners to address their goals by offering integrated services across all platforms. The Company owned 25% of Nucleus as of July 1, 2018 , which is accounted for as an equity method investment. During the three and six months ended June 25, 2017 , the Company recorded $1.6 million and $3.6 million , respectively, on a net basis for revenue related to the Nucleus agreement. The revenue recorded during the three and six months ended July 1, 2018 was immaterial.

ACQUISITIONS ACQUISITIONS

ACQUISITIONS ACQUISITIONS	6 Months Ended
	Jul. 01, 2018
Business Combinations [Abstract]
ACQUISITIONS	ACQUISITIONS Virginian-Pilot On May 28, 2018, Tribune Publishing Company, LLC, a wholly-owned subsidiary of the Company, acquired Virginian-Pilot Media Companies, LLC (“Virginian-Pilot”), the owner of The Virginian-Pilot daily newspaper based in Norfolk, Virginia, pursuant to a Securities Purchase Agreement, entered into on the same date (the “ VP Purchase Agreement ”), by and among the Company, Virginian-Pilot and Landmark Media Enterprises, LLC (“Seller”). Upon the terms and subject to the conditions set forth in the VP Purchase Agreement , the Company acquired all of the issued and outstanding membership interests in Virginian-Pilot from Seller for a cash purchase price of $34.0 million , subject to a post-closing working capital adjustment (the “ VP Acquisition ”). As part of the VP Acquisition , the Company also acquired Virginian-Pilot’s real estate portfolio (comprised of approximately 460,000 square feet), including its headquarters building in downtown Norfolk, its printing and distribution facilities in Virginia Beach and a number of satellite offices in Norfolk and North Carolina. The VP Purchase Agreement also contains representations, warranties, covenants, and indemnities of the parties thereto. The allocation of the purchase price presented below is based upon management’s preliminary estimates. The Company has engaged a valuation firm to assist with the valuation of the assets acquired and liabilities assumed, including property, plant and equipment and intangible assets. However, such valuation is not complete as of the filing date of this report. The preliminary allocation of the purchase price is as follows (in thousands): Consideration Cash consideration for acquisition $ 34,004 Total consideration $ 34,004 Allocated Fair Value of Acquired Assets and Assumed Liabilities Accounts receivable and other current assets $ 7,028 Property, plant and equipment 30,485 Mastheads 4,700 Accounts payable and other current liabilities (9,918 ) Other long term obligations (68 ) Total identifiable assets (liabilities), net 32,227 Goodwill 1,777 Total net assets acquired $ 34,004 The allocation of the purchase price is preliminary. The valuation of the property plant and equipment and intangible assets are not complete. The intangible assets currently being evaluated are mastheads, subscriber and advertiser relationships; however, the Company may identify additional intangible assets prior to finalizing the purchase price allocation. Goodwill is calculated as the excess of the consideration transferred over the fair value of the identifiable net assets acquired and represents the future economic benefits expected to arise from other intangible assets acquired that do not qualify for separate recognition, including expected future cost and revenue synergies. A portion of goodwill is expected to be deductible for tax purposes pursuant to Internal Revenue Code Section 197. The results of operations of Virginian-Pilot and related goodwill have been included in the Consolidated Financial Statements beginning on the closing date of the acquisition and are primarily included in the results of the Company’s troncM segment. For the three and six months ended July 1, 2018 , reported revenues from Virginian-Pilot were $5.5 million , and reported operating expenses were $5.1 million . The pro forma effect of the acquisition is not material to the Company’s Consolidated and Combined Financial Statements. BestReviews Acquisition Agreement On February 6, 2018, the Company acquired a 60% membership interest in BestReviews LLC (“BestReviews”), a company engaged in the business of testing, researching and reviewing consumer products, pursuant to an Acquisition Agreement, entered into on the same date (the “BestReviews Acquisition Agreement”), among the Company, BestReviews Inc., a Delaware corporation (“BR Parent”), BestReviews and the stockholders of Best Reviews Inc. Upon the terms and subject to the conditions set forth in the BestReviews Acquisition Agreement, the Company acquired 60% of BR Parent’s membership interest in BestReviews for a total purchase price of $68.3 million , consisting of $33.7 million in cash, subject to a post-closing working capital adjustment due from the seller of approximately $0.6 million , and $34.6 million in common stock of the Company (the “BR Acquisition”). The Company issued 1,913,438 shares of common stock in connection with the closing (the “Stock Consideration”). The Stock Consideration is subject to lock-up provisions that prohibit certain transfers of the shares and standstill provisions based upon the following schedule: 25% of the Stock Consideration will cease to be subject to the lockup provisions on the 6-month anniversary of the closing date of the BR Acquisition, an additional 50% of the Stock Consideration will cease to be subject to the lock-up provisions on the 9-month anniversary of the closing date of the BR Acquisition and an additional 25% of the Stock Consideration will cease to be subject to the lock-up provisions on the 12-month anniversary of the closing date of the BR Acquisition. The BestReviews Acquisition Agreement also contains representations, warranties, covenants, and indemnities of the parties thereto. Limited Liability Company Agreement In connection with the BR Acquisition, the Company and BR Parent also entered into an amended and restated limited liability company agreement of BestReviews (the “LLC Agreement”). Subject to the terms of the LLC Agreement, the Company has the right, beginning six months after the closing of the BR Acquisition, to purchase all (but not less than all) of the remaining 40% of the membership interests of BestReviews (the “Call Option”) using, at the Company’s election, cash, shares of common stock of the Company, or a combination thereof, at a purchase price to be based on a pre-determined multiple of BestReviews’ trailing 12-month EBITDA, with such purchase price capped per the LLC Agreement if the Call Option is exercised prior to the third anniversary of the closing of the BR Acquisition. In addition, beginning six months after closing the BR Acquisition, the Company is entitled to exercise a one-time right to purchase 25% of the units of membership interest of BestReviews retained by BR Parent ( 10% of the issued and outstanding equity) with terms identical to those applicable to the Call Option. BR Parent also has the right, beginning three years after closing of the BR Acquisition, to cause the Company to purchase all (but not less than all) of the remaining 40% of the membership interests of BestReviews (the “Put Option”) using, at the Company’s election, cash, shares of common stock of the Company, or a combination thereof, at a purchase price to be determined in the same manner as if the Call Option was exercised. If the exercise of the Call Option or the Put Option requires that the Company seek stockholder approval prior to issuing common stock of the Company as consideration in connection with such exercise, and the Company does not obtain requisite stockholder approval, then BestReviews will initiate a sale process for disposition of a majority of the voting power interests of BestReviews or other disposition of all or substantially all of BestReviews’ assets. The LLC Agreement provides that BR Parent is entitled to certain registration rights under the Securities Act of 1933, as amended (the “Securities Act”), with respect to the Company’s common stock issued to BR Parent. The Company is required to file (1) a registration statement on Form S-3 (“Form S-3”) with the Securities and Exchange Commission (“SEC”) to register the resale of the Stock Consideration within 90 days following the closing date of the BR Acquisition and (2) a Form S-3 with the SEC to register the resale of any shares of common stock of the Company issued in connection with an exercise of the Call Option or the Put Option within 60 days after the issuance of such shares. The LLC Agreement contains other terms and conditions, including transfer restrictions, tag-along and drag-along rights, and indemnification obligations. The allocation of the purchase price presented below is based upon management’s preliminary estimates. The Company has engaged a valuation firm to assist with the valuation of intangible assets and noncontrolling interest; however, such valuation is not complete as of the filing date of this report. The preliminary allocation of the purchase price is as follows (in thousands): Consideration Cash consideration for acquisition $ 33,693 Fair value of noncontrolling interest 40,900 Value of shares issued for acquisition 34,595 Total consideration $ 109,188 Allocated Fair Value of Acquired Assets and Assumed Liabilities Accounts receivable and other current assets $ 9,966 Property, plant and equipment 36 Intangible assets 12,540 Accounts payable and other current liabilities (993 ) Total identifiable assets (liabilities), net 21,549 Goodwill 87,639 Total net assets acquired $ 109,188 The allocation of the purchase price is preliminary. The valuation of the noncontrolling interest and intangible assets are not complete. The intangible assets currently being evaluated are trade names, proprietary technology and processes and certain relationships; however, the Company may identify additional intangible assets prior to finalizing the purchase price allocation. Goodwill is calculated as the excess of the consideration transferred over the fair value of the identifiable net assets acquired and represents the future economic benefits expected to arise from other intangible assets acquired that do not qualify for separate recognition, including access to the Company’s subscriber base and non-contractual relationships, as well as expected future cost and revenue synergies. The entire amount of purchase price allocated to intangible assets and a portion of goodwill is expected to be deductible for tax purposes pursuant to Internal Revenue Code Section 197. The results of operations and related goodwill of BestReviews have been included in the Consolidated Financial Statements beginning on the closing date of the acquisition and are included in the results of the Company’s troncX segment. For the three and six months ended July 1, 2018 , reported revenues from BestReviews were $5.9 million and $9.1 million , respectively, and reported operating expenses were $4.7 million and $7.3 million , respectively. The pro forma effect of the acquisitions is not material to the Company’s Consolidated and Combined Financial Statements. New York Daily News On September 3, 2017, the Company completed the acquisition of 100% of the partnership interests in Daily News, L. P. (“DNLP”), the owner of the New York Daily News in New York City, pursuant to the Partnership Interest Purchase Agreement dated September 3, 2017, for a cash purchase price of $1 and the assumption of certain liabilities, subject to a post-closing working capital adjustment. During the second quarter of 2018, the Company finalized the working capital calculation which resulted in an immaterial adjustment. As of the filing date of this report, the final determination of the fair value of assets acquired and liabilities assumed has not been completed. The estimated values are presented in the table below (in thousands): Allocated Fair Value of Acquired Assets and Assumed Liabilities Cash acquired as part of the purchase $ 2,555 Accounts receivable and other current assets 18,532 Property, plant and equipment, including assets under capital leases 47,972 Mastheads 3,400 Other long-term assets 10,448 Accounts payable and other current liabilities (20,973 ) Pension and postemployment benefits liability (25,446 ) Workers compensation and auto insurance liability (25,999 ) Other long-term liabilities (10,489 ) Total net assets acquired $ —

DISPOSITIONS AND DISCONTINUED O

DISPOSITIONS AND DISCONTINUED OPERATIONS (Notes)	6 Months Ended
	Jul. 01, 2018
Discontinued Operations and Disposal Groups [Abstract]
DISPOSITIONS AND DISCONTINUED OPERATIONS	DISCONTINUED OPERATIONS California Properties On February 7, 2018, the Company entered into a Membership Interest Purchase Agreement (“MIPA”) by and between the Company and Nant Capital, LLC (“Nant Capital”) pursuant to which the Company agreed to sell the California Properties to Nant Capital for an aggregate purchase price of $500 million in cash, plus the assumption of unfunded pension liabilities related to the San Diego Pension Plan, subject to a customary post-closing working capital adjustment (the "Nant Transaction"). The Nant Transaction closed on June 18, 2018 and resulted in a pre-tax gain of $407.6 million . The operations of the California Properties were included in both the troncM and troncX segments. The sale of the California Properties represents a strategic shift that will have a major effect on our operations and financial results. As a result, and as discussed in Note 1, effective as of the date of the sale, the California Properties are reflected as discontinued operations on the consolidated balance sheets in accordance with ASC 360 and the results of operations of the California Properties are presented as discontinued operations in the statements of income in accordance with ASC 205-20 for all periods presented. Dr. Patrick Soon-Shiong, a former director of the Company, together with Nant Capital, beneficially own 8,743,619 shares of tronc common stock, which represented 24.8% of the outstanding shares of tronc common stock as of July 1, 2018. The sale price also resulted in full realization of recorded asset values reflecting no impairment incurred prior to the sale. In connection with the closing of the sale of the California Properties, the Company entered into a transition services agreement (“TSA”) with Nant whereby the Company will provide back-office and operational services for up to 12 months . Either party may discontinue all or a portion of the services being provided by providing 60 days advance notice. The parties can also extend the agreement. During the six months ended July 1, 2018, the Company recorded $1.2 million in revenue related to the TSA. Nant Works, LLC In connection with the private placement with Nant Capital in the second quarter of 2016, the Company entered into a term sheet with NantWorks, LLC pursuant to which the Company would receive access to certain patents as well as studio space, subject to definitive documentation and approval from Tribune Media Company. If the transactions contemplated by the term sheet were consummated, the Company would issue to NantStudio, LLC 333,333 shares of common stock and in exchange, would be entitled to retain the first $80 million in revenues derived from the licensed patents royalty free, after which the Company would pay to NantWorks a 6% royalty on subsequent revenues. With the completion of the Nant Transaction, the term sheet was terminated. CIPS Marketing Group Inc. The California Properties utilize the services of CIPS Marketing Group, Inc. (“CIPS”) for local marketing efforts such as distribution, door-to-door marketing and total market coverage. Prior to the Company’s sale of its 50% interest in CIPS in July 2017, the investment was recorded as an equity investment, therefore income and expense recognized related to the marketing efforts are related party transactions. During the three and six months ended June 25, 2017 , the Company recorded $0.2 million and $0.5 million in revenue, respectively, from CIPS and $2.2 million and $3.8 million , respectively, in other operating expenses related to such marketing services. The CIPS revenue and marketing services expenses are included in discontinued operations. forsalebyowner.com On May 23, 2018, the Company sold substantially all of the assets of forsalebyowner.com in an asset sale for $2.5 million , plus an advertising sales commitment of $4.5 million over a term of two years. The forsalebyowner.com balances are reflected as related to discontinued operations on the consolidated balance sheets for all periods presented and the results of operations are included in discontinued operations for all periods presented. In prior filings, forsalebyowner.com was part of the troncX segment. Discontinued Operations Earnings from discontinued operations through the respective transaction dates, included in the Consolidated Statements of Income are comprised of the following (in thousands): Three months ended Six months ended July 1, 2018 June 25, 2017 July 1, June 25, Operating revenues $ 94,251 $ 126,355 $ 211,327 $ 252,497 Operating expenses: Compensation 25,065 34,722 58,763 71,479 Newsprint and ink 6,938 8,756 14,373 17,947 Outside services 30,075 34,353 61,650 68,168 Other operating expenses 26,804 33,280 56,541 65,401 Depreciation and amortization 1,328 1,674 2,960 4,156 Total operating expenses 90,210 112,785 194,287 227,151 Income from operations 4,041 13,570 17,040 25,346 Gain on sale 409,334 — 409,334 — Interest expense, net (23 ) (39 ) (53 ) (81 ) Loss on equity investments, net — 139 — 349 Other income, net 613 150 1,338 300 Income tax expense (133,420 ) (5,039 ) (132,914 ) (9,210 ) Income from discontinued operations, net of tax $ 280,545 $ 8,781 $ 294,745 $ 16,704 Discontinued operations by segment are presented below (in thousands): Three months ended Six months ended July 1, 2018 June 25, 2017 July 1, June 25, Operating revenues troncM $ 81,631 $ 107,559 $ 185,836 $ 215,149 troncX 12,570 18,762 25,429 37,274 Corporate and eliminations 50 34 62 74 $ 94,251 $ 126,355 $ 211,327 $ 252,497 Income from Operations troncM $ (75 ) $ 8,249 $ 10,918 $ 15,460 troncX 4,065 5,328 6,079 9,902 Corporate and eliminations 51 (7 ) 43 (16 ) $ 4,041 $ 13,570 $ 17,040 $ 25,346 Depreciation and amortization troncM $ 1,289 $ 1,607 $ 2,856 $ 4,029 troncX 39 67 104 127 $ 1,328 $ 1,674 $ 2,960 $ 4,156 The following table presents the aggregate carrying amounts of assets and liabilities classified as held for sale in the Consolidated Balance Sheets (in thousands): July 1, December 31, Carrying amount of assets related to discontinued operations: Accounts receivable, (net of allowances of $0 and $7,388) $ — $ 51,200 All other current assets — 10,576 Goodwill — 73,207 Intangibles — 63,397 Property, plant and equipment, net — 12,550 Deferred income taxes — 28,787 All other long term assets — 438 Total assets related to discontinued operations $ — $ 240,155 Carrying amount of liabilities associated with discontinued operations: Accounts payable and employee compensation and benefits $ — $ 27,293 Deferred revenue — 26,039 Other current liabilities — 7,062 Pensions and postretirement benefits payable — 90,155 Insurance — 26,200 Income taxes payable 107,624 — Total liabilities associated with discontinued operations $ 107,624 $ 176,749

INVENTORIES

INVENTORIES	6 Months Ended
	Jul. 01, 2018
Inventory Disclosure [Abstract]
INVENTORIES	INVENTORIES Inventories consisted of the following (in thousands): As of July 1, 2018 December 31, 2017 Newsprint $ 10,692 $ 7,072 Supplies and other 325 340 Total inventories $ 11,017 $ 7,412 Inventories are stated at the lower of cost or net realizable value determined using the first-in, first-out (“FIFO”) basis for all inventories.

GOODWILL AND OTHER INTANGIBLE A

GOODWILL AND OTHER INTANGIBLE ASSETS	6 Months Ended
	Jul. 01, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND OTHER INTANGIBLE ASSETS	GOODWILL AND OTHER INTANGIBLE ASSETS Goodwill and other intangible assets at July 1, 2018 and December 31, 2017 , excluding assets related to discontinued operations, consisted of the following (in thousands): July 1, 2018 December 31, 2017 Gross Amount Accumulated Amortization Net Amount Gross Amount Accumulated Amortization Net Amount Intangible assets subject to amortization Subscribers (useful life of 2 to 10 years) $ 7,312 $ (4,231 ) $ 3,081 $ 7,312 $ (3,762 ) $ 3,550 Advertiser relationships (useful life of 2 to 13 years) 26,348 (11,204 ) 15,144 26,348 (10,013 ) 16,335 Tradenames (useful life of 20 years) 15,100 (2,962 ) 12,138 15,100 (2,583 ) 12,517 Other (useful life of 1 to 20 years) 15,862 (2,406 ) 13,456 5,379 (2,243 ) 3,136 Total intangible assets subject to amortization $ 64,622 $ (20,803 ) 43,819 $ 54,139 $ (18,601 ) 35,538 Software (useful life of 2 to 10 years) $ 133,670 $ (100,432 ) 33,238 $ 129,795 $ (90,218 ) 39,577 Goodwill and other intangible assets not subject to amortization Goodwill 138,201 48,700 Newspaper mastheads 36,706 29,458 Total goodwill and other intangible assets $ 251,964 $ 153,273

DEBT

DEBT	6 Months Ended
	Jul. 01, 2018
Debt Disclosure [Abstract]
DEBT	DEBT During the quarter ended July 1, 2018, the Company used a portion of the proceeds received from the Nant Transaction to repay all the amounts outstanding under the Senior Term Facility and terminated the Senior ABL Facility. Senior Term Facility On August 4, 2014, the Company entered into a credit agreement (as amended, amended and restated or supplemented, the “Term Loan Credit Agreement”) with JPMorgan Chase Bank, N.A., as administrative agent and collateral agent (in such capacity, the “Term Collateral Agent”), and the lenders party thereto (the “Senior Term Facility”). The Senior Term Facility originally provided for secured loans (the “Term Loans”) in the aggregate principal amount of $350.0 million . The Senior Term Facility initially provided that it could be expanded by an amount up to (i) the greater of $100.0 million and an amount as will not cause the net senior secured leverage ratio after giving effect to such incurrence to exceed 2 :1 plus (ii) an amount equal to all voluntary prepayments of the term loans borrowed under the Senior Term Facility, subject to certain conditions. In 2015, $70 million of the expansion was drawn for the acquisition of The San Diego Union-Tribune. The Term Loans bore interest at a variable interest rate based on either LIBOR or a base rate, in either case plus an applicable margin. The Term Loans amortized in equal quarterly installments equal to 1.25% of principal amounts borrowed against the Senior Term Facility with the balance payable on the maturity date, August 4, 2021. The Company was the borrower under the Senior Term Facility and each of the Company’s wholly-owned domestic subsidiaries, subject to certain exceptions (the “Subsidiary Guarantors”), guaranteed the payment obligations under the Senior Term Facility. The Senior Term Facility contained a number of covenants that, among other things, limited the ability of the Company and its restricted subsidiaries to: incur more indebtedness; pay dividends; redeem stock or make other distributions in respect of equity; make investments; and certain other usual and customary covenants. On June 21, 2018, the Company repaid the outstanding principal balance of $348.0 million under the Senior Term Facility and terminated the agreement. As a result of the early extinguishment of debt, the Company incurred a $7.7 million loss related to expensing the remaining balance of original issue discount and debt origination fees. Senior ABL Facility On August 4, 2014, the Company and the Subsidiary Guarantors entered into a credit agreement (the “ABL Credit Agreement”) with Bank of America, N.A., as administrative agent, collateral agent (in such capacity, the “ABL Collateral Agent”), swing line lender and letter of credit issuer and the lenders party thereto (the “Senior ABL Facility”). The Senior ABL Facility was scheduled to mature on August 4, 2019. The Senior ABL Facility provided for senior secured revolving loans and letters of credit of up to a maximum aggregate principal amount of $140.0 million . Up to $75.0 million of availability under the Senior ABL Facility was available for letters of credit and up to $15.0 million of availability under the Senior ABL Facility was available for swing line loans. The Senior ABL Facility also permitted the Company to increase the commitments under the Senior ABL Facility by up to $75.0 million . The Senior ABL Facility bore interest at a variable interest rate based on either LIBOR or a base rate, in either case plus an applicable margin. tronc, Inc. and the Subsidiary Guarantors were the borrowers under the Senior ABL Facility. tronc, Inc. and the Subsidiary Guarantors guaranteed the payment obligations under the Senior ABL Facility. The Senior ABL Facility contained a number of covenants that, among other things, limited the ability of tronc and its restricted subsidiaries to: incur more indebtedness; pay dividends; redeem stock or make other distributions in respect of equity; make investments; and certain other usual and customary covenants. Customary fees were payable in respect of the Senior ABL Facility, including commitment fees of 0.25% and letter of credit fees. On June 21, 2018, the Company terminated the Senior ABL Facility. As a result of the Senior ABL Facility termination, the Company established $42.6 million of restricted cash to collateralize outstanding letters of credit previously secured by the Senior ABL Facility. Capital Leases The Company has capital leases on land and technology licenses. The total balance outstanding as of July 1, 2018 for capital leases was $7.5 million , of which $0.7 million is in short-term debt. The total balance as of December 31, 2017 for capital leases was $8.7 million , of which $0.8 million is in short-term debt.

INCOME TAXES

INCOME TAXES	6 Months Ended
	Jul. 01, 2018
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES For the three and six months ended July 1, 2018 , the Company recorded income tax expense of $3.8 million and an income tax benefit of $2.9 million , respectively. The effective tax rate on pretax income from continuing operations was (33.1%) and 6.3% in the three and six months ended July 1, 2018 , respectively. The negative rate for three months ending July 1, 2018 resulted from the year-to-date true-up arising from the annual effective tax rate dropping from approximately 19% to 6% . The annual effective tax rate decreased due to the increase in estimated taxable income due to the reduction of interest expense stemming from the debt extinguishment. For the three and six months ended July 1, 2018 , the rate differs from the U.S. federal statutory rate of 21% primarily due to state income taxes, net of federal benefit, and nondeductible expenses. In the case of a pretax loss, the unfavorable permanent differences, such as non-deductible meals and entertainment expense, have the effect of decreasing the tax benefit which, in turn, decreases the effective tax rate. For the three and six months ended June 25, 2017 , the Company recorded income tax benefit of $0.4 million and $2.3 million , respectively. The effective tax rate on pretax income from continuing operations was 17.2% and 15.1% in the three and six months ended June 25, 2017 , respectively. For the three and six months ended June 25, 2017 , the rate differs from the U.S. federal statutory rate of 35% primarily because the $6.0 million premium on stock buyback is a non-deductible permanent difference for the calculation of income taxes. The rate also differs due to state income taxes, net of federal benefit and nondeductible expenses and the domestic production activities deduction. In the case of a pretax loss, the unfavorable permanent differences, such as non-deductible meals and entertainment expense, have the effect of decreasing the tax benefit which, in turn, decreases the effective tax rate. In the fourth quarter of 2017, the Company recorded an additional tax expense of $10.8 million that represents what it estimates is the impact of the enactment of the Tax Cuts and Jobs Act of 2017 (the “Tax Act”). The expense was based on currently available information and interpretations, which are continuing to evolve. As a result, the expense is considered provisional. The Company continues to analyze additional information and guidance related to the Tax Act as supplemental legislation, regulatory guidance, or evolving technical interpretations become available, which could result in additional adjustments in future periods. Final calculations will be completed within the one-year measurement period ending December 22, 2018, as required under the rules issued by the SEC.

PENSION AND OTHER POSTRETIREMEN

PENSION AND OTHER POSTRETIREMENT BENEFITS	6 Months Ended
	Jul. 01, 2018
Retirement Benefits [Abstract]
PENSION AND OTHER POSTRETIREMENT BENEFITS	PENSION AND OTHER POSTRETIREMENT BENEFITS Multiemployer Pension Plans The Company contributes to a number of multiemployer defined benefit pension plans under the terms of collective-bargaining agreements that cover its union-represented employees. Defined Benefit Plans The Company was formerly the sponsor of the San Diego Union-Tribune, LLC Retirement Plan (the “San Diego Pension Plan”), which was divested in June 2018 as part of the Nant Transaction. The Company contributed $5.7 million to the San Diego Pension Plan during fiscal 2018 prior to the divestiture. Expenses related to the San Diego Pension Plan are included in discontinued operations. The Company is the sponsor of a single-employer defined benefit plan, the Daily News Retirement Plan (the “NYDN Pension Plan”). The NYDN Pension Plan provides benefits to certain current and former employees of the New York Daily News . As of March 31, 2018, future benefits under the NYDN Pension Plan were frozen and no new participants are permitted after that time. The Company contributed $0.5 million to the NYDN Pension Plan in the six months ended July 1, 2018. The Company expects to contribute $3.4 million to the NYDN Pension Plan during the remainder of 2018. The components of net periodic benefit for the NYDN Pension Plan are as follows (in thousands): Three Months Ended Six Months Ended Affected Line Items in the Consolidated Statements of Income (Loss) July 1, 2018 June 25, 2017 July 1, 2018 June 25, 2017 Service cost $ (8 ) $ — $ 72 $ — Compensation Interest cost 825 — 1,636 — Other income, net Expected return on assets (1,165 ) — (2,333 ) — Other income, net Net periodic benefit $ (348 ) $ — $ (625 ) $ — Postretirement Benefits Other Than Pensions The Company provides postretirement health care to retirees pursuant to a number of benefit plans. The plans are frozen for new non-union employees. There is some variation in the provisions of these plans, including different provisions for lifetime maximums, prescription drug coverage and certain other benefits. The components of net periodic benefit credit for the Company’s postretirement health care and life insurance plans were as follows (in thousands): Three Months Ended Six Months Ended Affected Line Items in the Consolidated Statements of Income (Loss) July 1, 2018 June 25, 2017 July 1, 2018 June 25, 2017 Service cost $ 4 $ 3 $ 7 $ 6 Compensation Interest cost 8 55 17 110 Other income, net Amortization of prior service credits (2,634 ) (292 ) (5,267 ) (584 ) Other income, net Amortization of actuarial gains (657 ) (47 ) (1,315 ) (93 ) Other income, net Net periodic benefit $ (3,279 ) $ (281 ) $ (6,558 ) $ (561 )

NONCONTROLLING INTERESTS

NONCONTROLLING INTERESTS	6 Months Ended
	Jul. 01, 2018
Noncontrolling Interest [Abstract]
NONCONTROLLING INTERESTS	NONCONTROLLING INTEREST Noncontrolling interest represents the 40% membership interest in BestReviews not owned by the Company and is presented between liabilities and stockholders’ equity within the Company’s consolidated balance sheet because the Put Option described in Note 5 could, upon exercise, require the Company, under certain circumstances, to pay cash to purchase the noncontrolling interest. Each quarter, the carrying value of noncontrolling interest is adjusted to the amount the Company would be required to pay the noncontrolling interest holders as if the Put Option had been exercised as of the balance sheet date, with an offsetting adjustment to stockholders’ equity. Adjustments to increase (decrease) the carrying value of noncontrolling interest also reduce (increase) the amount of net income or loss attributable to tronc common stockholders for purposes of determining both basic and diluted earnings per share. A summary of the activity with respect to non-controlling interest for the six months ended July 1, 2018 is as follows (in thousands): Balance at December 31, 2017 $ — Acquisition of BestReviews 40,900 Income attributable to noncontrolling interest 710 Balance at July 1, 2018 $ 41,610

EARNINGS PER SHARE

EARNINGS PER SHARE	6 Months Ended
	Jul. 01, 2018
Earnings Per Share [Abstract]
EARNINGS PER SHARE	EARNINGS PER SHARE Basic earnings per common share is calculated by dividing net income attributable to tronc common stockholders by the weighted average number of shares of common stock outstanding. Diluted earnings per common share is similarly calculated, except that the calculation includes the dilutive effect of the assumed issuance of common shares under equity-based compensation plans, except where the inclusion of such common shares would have an anti-dilutive impact. In accordance with ASC 260-10-55, net loss from continuing operations is the control number in determining whether potential common shares are dilutive. Since there is loss from continuing operations, all potential common shares are considered anti-dilutive. For the three and six months ended July 1, 2018 and June 25, 2017 , basic and diluted earnings per common share were as follows (in thousands, except per share amounts): Three Months Ended Six Months Ended July 1, 2018 June 25, 2017 July 1, 2018 June 25, 2017 Income (Loss) - Numerator: Loss from continuing operations $ (15,101 ) $ (1,940 ) $ (43,813 ) $ (12,852 ) Less: Net income from continuing operations attributable to noncontrolling interest 448 — 710 — Income available to common shareholders, before discontinued operations (15,549 ) (1,940 ) (44,523 ) (12,852 ) Income from discontinued operations 280,545 8,781 294,745 16,704 Net income available to tronc stockholders $ 264,996 $ 6,841 $ 250,222 $ 3,852 Shares - Denominator: Weighted average number of common shares outstanding (basic) 35,288 32,825 35,045 34,566 Dilutive effect of employee stock options and RSUs — — — — Adjusted weighted average shares outstanding (diluted) 35,288 32,825 35,045 34,566 Net income (loss) attributable to tronc per common share: Continuing operations $ (0.44 ) $ (0.06 ) $ (1.27 ) $ (0.37 ) Discontinued operations 7.95 0.27 8.41 0.48 Net income per common share $ 7.51 $ 0.21 $ 7.14 $ 0.11 Diluted income (loss) per common share: Continuing operations $ (0.44 ) $ (0.06 ) $ (1.27 ) $ (0.37 ) Discontinued operations 7.95 0.27 8.41 0.48 Net income per common share-diluted $ 7.51 $ 0.21 $ 7.14 $ 0.11 The number of stock options that were excluded from the computation of diluted earnings per share because their inclusion would result in an anti-dilutive effect on per share amounts was 924,887 and 973,637 for the three and six months ended July 1, 2018 , respectively. The number of stock options that were excluded from the computation of diluted earnings per share because their inclusion would result in an anti-dilutive effect on per share amounts was 836,843 and 883,359 for the three and six months ended June 25, 2017 , respectively. The number of RSUs that were excluded from the computation of diluted earnings per share because their inclusion would result in an anti-dilutive effect on per share amounts was 1,821,836 and 1,874,250 for the three and six months ended July 1, 2018 , respectively. The number of RSUs that were excluded from the computation of diluted earnings per share because their inclusion would result in an anti-dilutive effect on per share amounts was 558,761 and 297,592 for the three and six months ended June 25, 2017 , respectively.

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	6 Months Ended
	Jul. 01, 2018
Equity [Abstract]
STOCKHOLDERS' EQUITY	STOCKHOLDERS’ EQUITY Stock Repurchases On March 23, 2017, the Company entered into a purchase agreement with investment funds associated with Oaktree Capital Management, L.P. (“Oaktree”), pursuant to which the Company acquired 3,745,947 shares of the Company’s common stock for $15.00 per share or a total purchase price of $56.2 million . The purchase agreement contained a “standstill” covenant prohibiting Oaktree from acquiring, directly or indirectly, any of the Company’s common stock, soliciting proxies to vote shares of the Company’s common stock or taking certain actions with respect to any business combination, asset acquisition or disposition or similar transaction involving the Company through March 22, 2019 (the “Standstill Period”). The parties also agreed to a mutual non-disparagement covenant applicable during the Standstill Period and to a mutual release of claims. On March 22, 2017, the Company’s stock price closed at $13.39 . The $6.0 million difference between the aggregate purchase price and the fair value of the acquired stock at the transaction date was expensed as a premium on stock buyback in the Consolidated Statements of Income (Loss). Significant Shareholders Merrick Media, LLC On March 23, 2017, the Company entered into Amendment No. 1 (the “Amendment”) to the Securities Purchase Agreement dated February 3, 2016 among the Company, Merrick Media, LLC (“Merrick Media”) and Michael W. Ferro, Jr., the Company’s non-executive Chairman of the Board at the time the agreement was signed. The Amendment increased from 25% to 30% the maximum percentage of the Company’s outstanding shares of common stock that Merrick Media and its affiliates may acquire. Mr. Ferro is the manager of Merrick Venture Management, LLC, which is the sole manager of Merrick Media. Because Merrick Venture Management, LLC serves as the sole manager of Merrick Media, Mr. Ferro may be deemed to indirectly control all of the shares of the Company’s common stock owned by Merrick Media. Mr. Ferro, together with his affiliated entities, beneficially owned 9,071,529 shares of tronc common stock, which represented 25.7% of tronc common stock as of July 1, 2018 . On April 13, 2018, Mr. Ferro, Merrick Media, LLC and Merrick Ventures Management, LLC entered into an agreement to sell all of their shares in the Company to an unrelated third party. This agreement was subsequently canceled during the second fiscal quarter of 2018. Nant Capital, LLC Dr. Patrick Soon-Shiong, a former director of the Company, together with Nant Capital, LLC (“Nant Capital”), beneficially own 8,743,619 shares of tronc common stock, which represented 24.8% of the outstanding shares of tronc common stock as of July 1, 2018 . California Capital Equity, LLC (“CalCap”) directly owns all of the equity interests of Nant Capital, and CalCap may be deemed to have beneficial ownership of the shares held by Nant Capital. Dr. Soon-Shiong directly owns all of the equity interests of CalCap and may be deemed to beneficially own, and share voting power and investment power with Nant Capital over all shares of tronc common stock beneficially owned by Nant Capital. Under the Securities Purchase Agreement dated May 22, 2016, among the Company, Nant Capital and Dr. Patrick Soon-Shiong (“Nant Purchase Agreement”), Nant Capital and Dr. Soon-Shiong and their respective affiliates are prohibited, without the prior written approval of the Board of Directors, from acquiring additional equity of the Company if the acquisition could result in their beneficial ownership of more than 25% of the Company’s then-outstanding shares of common stock. The Nant Purchase Agreement also includes covenants prohibiting the transfer of shares of the Company’s common stock if the transfer would result in a person beneficially owning more than 4.9% of the Company’s then-outstanding shares of common stock following the transfer, as well as transfers to a material competitor of the Company in any of the Company’s then-existing primary geographical markets.

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	6 Months Ended
	Jul. 01, 2018
Equity [Abstract]
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) The following table sets forth the components of accumulated other comprehensive income (loss), net of tax, where applicable (in thousands): Foreign Currency OPEB Pension Total Balance at December 31, 2017 $ (31 ) $ 9,932 $ (23,428 ) $ (13,527 ) Amounts reclassified from AOCI — (4,752 ) — (4,752 ) Foreign currency translation adjustments (5 ) — — (5 ) AOCI recognized in discontinued operations — — 25,397 25,397 Balance at July 1, 2018 $ (36 ) $ 5,180 $ 1,969 $ 7,113 The following table presents the amounts and line items in the Consolidated Statements of Income where adjustments reclassified from accumulated other comprehensive income (loss) were recorded during the three and six months ended July 1, 2018 and June 25, 2017 (in thousands): Three Months Ended Six months ended July 1, 2018 June 25, 2017 July 1, 2018 June 25, 2017 Affected Line Items in the Consolidated Statements of Income (Loss) Accumulated Other Comprehensive Income (Loss) Components Pension and postretirement benefit adjustments: Amortization of prior service credits $ (2,634 ) $ (292 ) $ (5,267 ) $ (584 ) Other income, net Amortization of actuarial gains (657 ) (47 ) (1,315 ) (93 ) Other income, net Total before taxes (3,291 ) (339 ) (6,582 ) (677 ) Tax effect (915 ) (133 ) (1,830 ) (267 ) Income tax expense (benefit) Total reclassifications for the period $ (2,376 ) $ (206 ) $ (4,752 ) $ (410 )

CONTINGENCIES

CONTINGENCIES	6 Months Ended
	Jul. 01, 2018
Commitments and Contingencies Disclosure [Abstract]
CONTINGENCIES	CONTINGENCIES Legal Proceedings The Company is subject to various legal proceedings and claims that have arisen in the ordinary course of business. The legal entities comprising our operations are defendants from time to time in actions for matters arising out of their business operations. In addition, the legal entities comprising our operations are involved from time to time as parties in various regulatory, environmental and other proceedings with governmental authorities and administrative agencies. Tribune Company Bankruptcy On December 31, 2012, Tribune Media Company, formerly Tribune Company (“TCO”) and 110 of its direct and indirect wholly-owned subsidiaries that had filed voluntary petitions for relief under Chapter 11 of title 11 of the United States Code in the United States Bankruptcy Court for the District of Delaware on December 8, 2008 (or on October 12, 2009, in the case of Tribune CNLBC, LLC) emerged from Chapter 11. Certain of the legal entities included in the Consolidated Financial Statements of tronc were Debtors or, as a result of the restructuring transactions undertaken at the time of the Debtors’ emergence, are successor legal entities to legal entities that were Debtors (“tronc Debtors”). Notices of appeal of the Bankruptcy Court’s order confirming the Plan (the “Confirmation Order”) were filed by (i) Aurelius Capital Management L.P. on behalf of its managed entities that were holders of TCO’s senior notes and Exchangeable Subordinated Debentures due 2029 (“PHONES”), (ii) Law Debenture Trust Company of New York (“Law Debenture”) and Deutsche Bank Trust Company Americas (“Deutsche Bank”), each successor trustees under the respective indentures for TCO’s senior notes; (iii) Wilmington Trust Company, as successor indenture trustee for the PHONES, and (iv) EGI-TRB, L.L.C., a Delaware limited liability company wholly-owned by Sam Investment Trust (a trust established for the benefit of Samuel Zell and his family) (the “Zell Entity”). The appellants sought, among other relief, to overturn the Confirmation Order and certain prior orders of the Bankruptcy Court embodied in the Plan, including the settlement of certain claims and causes of action related to a series of transactions consummated by TCO, the TCO employee stock ownership plan, the Zell Entity and Samuel Zell in 2007. Each of the Confirmation Order appeals have been dismissed or otherwise resolved by a final order, with the exception of the appeals of Law Debenture and Deutsche Bank, which remain pending before the U. S. District Court for the District of Delaware. There is no stay of the Confirmation Order in place pending resolution of the confirmation related appeals. The Bankruptcy Court has entered final decrees collectively closing 106 of the Debtors’ Chapter 11 cases, including the last one of the tronc Debtors’ cases. The remaining Chapter 11 cases relate to Debtors and successor legal entities that are subsidiaries of TCO. These cases have not yet been closed by the Bankruptcy Court, and certain claims asserted against various of the Debtors (including certain of the tronc Debtors) in the Chapter 11 cases remain unresolved. The remaining Chapter 11 cases continue to be administered under the caption “In re: Tribune Media Company, et al.,” Case No 08-13141.

SEGMENT INFORMATION

SEGMENT INFORMATION	6 Months Ended
	Jul. 01, 2018
Segment Reporting [Abstract]
SEGMENT INFORMATION	SEGMENT INFORMATION The Company’s business segments are based on the organization structure used by management for making operating and investment decisions and for assessing performance. Beginning in the second quarter of fiscal 2016, the operating segments consist of troncM and troncX. troncM is comprised of the Company’s media groups excluding their digital revenues and related digital expenses, except digital subscription revenues when bundled with a print subscription. troncX includes the Company’s digital revenues and related digital expenses from local tronc websites, third party websites, mobile applications, digital only subscriptions, TCA, and BestReviews. The Company determined that the disposition of the California Properties and forsalebyowner.com did not result in changes to the Company’s segments. Assets are not presented to or used by management at a segment level for making operating and investment decisions and therefore are not reported. The Company measures segment profit using income from operations, which is defined as income from operations before net interest expense, gain on investment transactions, reorganization items and income taxes. As discussed in Note 2 , the Company adopted ASU 2014-09, Topic 606, Revenue from Contracts with Customers effective January 1, 2018, using the modified retrospective method applied to those contracts which were not completed as of January 1, 2018. Results of operations for periods after January 1, 2018 reflect the changes under ASU 2014-09. Results of operations for periods before January 1, 2018, continue to be reported under guidance in effect at that time. Disaggregated operating revenues and income (loss) from continuing operations by operating segment for the three months ended July 1, 2018 and June 25, 2017, respectively, were as follows for the periods indicated (in thousands): Three Months Ended tronc M troncX Corporate and Eliminations Consolidated (Print) (Digital) July 1, 2018 June 25, 2017 July 1, 2018 June 25, 2017 July 1, 2018 June 25, 2017 July 1, 2018 June 25, 2017 Advertising $ 87,800 $ 93,285 $ 23,987 $ 31,577 $ — $ (37 ) $ 111,787 $ 124,825 Circulation 88,616 73,978 4,172 2,230 — — 92,788 76,208 Commercial print and delivery 25,784 24,600 — — — — 25,784 24,600 Direct mail 8,025 9,214 — — — — 8,025 9,214 Content syndication and other 2,072 3,801 11,982 5,673 599 (886 ) 14,653 8,588 Other 35,881 37,615 11,982 5,673 599 (886 ) 48,462 42,402 Operating revenues 212,297 204,878 40,141 39,480 599 (923 ) 253,037 243,435 Operating expenses 204,410 191,803 36,691 36,403 13,181 10,767 254,282 238,973 Income (loss) from operations $ 7,887 $ 13,075 $ 3,450 $ 3,077 $ (12,582 ) $ (11,690 ) (1,245 ) 4,462 Interest expense (5,412 ) (6,365 ) Loss on early extinguishment of debt (7,666 ) — Loss on investments, net (665 ) (723 ) Other income, net 3,640 284 Loss from continuing operations before income taxes $ (11,348 ) $ (2,342 ) Depreciation and amortization $ 3,990 $ 5,281 $ 4,505 $ 3,512 $ 4,447 $ 4,194 $ 12,942 $ 12,987 Disaggregated operating revenues and income (loss) from continuing operations by operating segment for the six months ended July 1, 2018 and June 25, 2017, respectively, were as follows for the periods indicated (in thousands): Six Months Ended tronc M troncX Corporate and Eliminations Consolidated (Print) (Digital) July 1, 2018 June 25, 2017 July 1, 2018 June 25, 2017 July 1, 2018 June 25, 2017 July 1, 2018 June 25, 2017 Advertising $ 170,542 $ 184,084 $ 46,037 $ 60,493 $ — $ (131 ) $ 216,579 $ 244,446 Circulation 173,242 149,011 7,681 4,283 — — 180,923 153,294 Commercial print and delivery 52,789 51,173 — — — — 52,789 51,173 Direct mail 15,628 17,800 — — — — 15,628 17,800 Content syndication and other 4,307 6,733 21,567 11,631 (217 ) (1,667 ) 25,657 16,697 Other 72,724 75,706 21,567 11,631 (217 ) (1,667 ) 94,074 85,670 Operating revenues 416,508 408,801 75,285 76,407 (217 ) (1,798 ) 491,576 483,410 Operating expenses 408,821 383,618 72,453 73,755 43,308 21,284 524,582 478,657 Income (loss) from operations $ 7,687 $ 25,183 $ 2,832 $ 2,652 $ (43,525 ) $ (23,082 ) (33,006 ) 4,753 Interest expense (11,976 ) (12,800 ) Loss on early extinguishment of debt (7,666 ) — Premium on stock buyback — (6,031 ) Loss on investments, net (1,394 ) (1,621 ) Other income, net 7,303 567 Loss from continuing operations before income taxes $ (46,739 ) $ (15,132 ) Depreciation and amortization $ 7,962 $ 8,565 $ 9,120 $ 6,689 $ 8,943 $ 8,428 $ 25,959 $ 23,682 The operating revenues and operating results from continuing operations presented above are not necessarily indicative of the results that may be expected for the full fiscal year.

SUPPLEMENTAL CASH FLOW INFORMAT

SUPPLEMENTAL CASH FLOW INFORMATION	6 Months Ended
	Jul. 01, 2018
Supplemental Cash Flow Elements [Abstract]
SUPPLEMENTAL CASH FLOW INFORMATION	SUPPLEMENTAL CASH FLOW INFORMATION Supplemental cash flow information for each of the periods presented is as follows (in thousands): Six months ended July 1, 2018 June 25, 2017 Cash paid during the period for: Interest $ 10,489 $ 11,325 Income taxes, net of refunds 3,967 113 Non-cash items in financing activities: Issuance of stock from treasury for acquisition 34,595 — The following table provides a reconciliation of cash, cash equivalents, and restricted cash as reported within the Consolidated Condensed Balance Sheet that sum to the cash, cash equivalents and restricted cash as reported in the Consolidated Statement of Cash Flows: As of As of July 1, December 31, Cash and cash equivalents $ 214,544 $ 185,351 Restricted cash included in other assets 42,600 — Total cash, cash equivalents, and restricted cash shown in the statement of cash flows $ 257,144 $ 185,351

DESCRIPTION OF BUSINESS AND B27

DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION (Policies)	6 Months Ended
	Jul. 01, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Fiscal Periods	Fiscal Periods —The Company’s fiscal year ends on the last Sunday in December. Fiscal year 2018 ends on December 30, 2018 and fiscal year 2017 ended on December 31, 2017. Fiscal year 2018 is a 52-week year with 13 weeks in each quarter. Fiscal year 2017 was a 53-week year with 13 weeks in the first through third quarters and 14 weeks in the fourth quarter.
Basis of Presentation	Basis of Presentation —T he accompanying unaudited Consolidated Financial Statements and notes of the Company have been prepared in accordance with United States generally accepted accounting principles ( “U.S. GAAP ”). The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the unaudited Consolidated Financial Statements and accompanying notes. Actual results could differ from these estimates. In the opinion of management, the financial statements contain all adjustments necessary to present fairly the financial position of tronc as of July 1, 2018 and December 31, 2017 and the results of operations for the three and six months ended July 1, 2018 and June 25, 2017 , respectively, and the cash flows for the six months ended July 1, 2018 and June 25, 2017 , respectively. This includes all normal and recurring adjustments and elimination of intercompany transactions. Results of operations for interim periods are not necessarily indicative of the results to be expected for the full year. The year-end Consolidated Balance Sheet was derived from audited financial statements but does not include all disclosures required by U.S. GAAP. Effective as of the sale dates, the operations of the California Properties and forsalebyowner.com qualify as discontinued operations. Accordingly, operations for all periods presented have been reflected as discontinued operations in the accompanying Consolidated Statements of Income and Consolidated Statements of Cash Flows. Additionally, assets and liabilities related to the divested properties are classified as such in all prior periods in the Consolidated Condensed Balance Sheets. Unless otherwise noted, amounts and disclosures throughout these Notes to Consolidated Financial Statements relate to continuing operations and exclude all discontinued operations including the California Properties and forsalebyowner.com. The Company assesses its operating segments in accordance with ASC Topic 280, “Segment Reporting.” The Company is managed by its chief operating decision maker, as defined by ASC Topic 280, in two reportable segments, troncM and troncX. troncM is comprised of the Company’s media groups excluding their digital revenues and related digital expenses, except digital subscription revenues when bundled with a print subscription. troncX includes the Company’s digital revenues and related digital expenses from local tronc websites, third party websites, mobile applications, digital-only subscriptions, BestReviews and Tribune Content Agency (“TCA”). See Note 17 for additional segment information.
New Accounting Standards	New Accounting Standards —In February 2018, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2018-02, Topic 220, Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income. The ASU amends ASC 220, Income Statement — Reporting Comprehensive Income, to “allow a reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the Tax Cuts and Jobs Act.” In addition, under the ASU, an entity will be required to provide certain disclosures regarding stranded tax effects. The ASU is effective for all entities for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. The Company is currently evaluating how the adoption of this standard will impact the Company’s consolidated financial statements. In March 2017, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2017-07, Topic 715, Compensation - Retirement Benefits; Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost . ASU 2017-07 requires the disaggregation of the service cost component from other components of net periodic benefit cost, clarifies how to present the service cost component and other components of net benefit costs in the financial statements and allows only the service cost component of net benefit costs to be eligible for capitalization. The Company adopted the standard on January 1, 2018 and has applied the standard on a retrospective basis. Accordingly, prior period amounts have been adjusted. Adoption of the standard had no effect on the Company’s overall results of operations. The disclosures required by the standard can be found in Note 11 . In January 2017, the FASB issued ASU 2017-04, Topic 350, Intangibles-Goodwill and Other; Simplifying the Test for Goodwill Impairment , which eliminates Step 2 from the goodwill impairment test thereby standardizing the impairment assessment to measure a reporting unit’s carrying value against its fair value and eliminate the calculation of an implied fair value of goodwill. ASU 2017-04 is effective for interim and annual reporting periods beginning after December 15, 2019 and should be applied prospectively. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. The Company is currently evaluating how the adoption of this standard will impact the Company’s consolidated financial statements. In January 2017, the FASB issued ASU 2017-01, Topic 805, Clarifying the Definition of a Business , which establishes criteria to determine when an integrated set of assets and activities is not a business. ASU 2017-01 is effective for interim and annual reporting periods beginning after December 15, 2017 and should be applied prospectively. The Company adopted the standard effective January 1, 2018 and will apply the standard to acquisitions or dispositions after that date. In November 2016, the FASB issued ASU 2016-18, Topic 230, Statement of Cash Flows , which clarifies how companies present and classify restricted cash in the statement of cash flows. ASU 2016-18 is effective for interim and annual reporting periods beginning after December 15, 2017. The guidance is required to be applied on a retrospective basis. The Company adopted the standard effective January 1, 2018. The adoption had no retrospective effect on the Company’s consolidated financial statements as the Company had no restricted cash during 2017 or the first quarter of 2018. However, beginning the in the second quarter of 2018, the Company has restricted cash and the restricted cash balances are included in the beginning and ending cash balances in the statements of cash flows and Note 18 provides a reconciliation between cash balances presented on the balance sheets with the amounts presented in the statements of cash flows. In August 2016, the FASB issued ASU 2016-15, Topic 230, Statement of Cash Flows , which clarifies how companies present and classify certain cash receipts and cash payments in the statement of cash flows. ASU 2016-15 is effective for interim and annual reporting periods beginning after December 15, 2017. The guidance is required to be applied on a retrospective basis. The Company adopted the standard effective January 1, 2018. The adoption had no effect on the Company’s consolidated financial statements. In February 2016, the FASB issued ASU 2016-02, Topic 842, Leases , which requires lessees to recognize lease assets and lease liabilities for operating leases. The Company expects to adopt this standard in the first quarter of 2019 using the transition option whereby companies may initially apply the new standard at the adoption date and recognize a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption. The Company has initiated efforts to assess the impact of this new standard on the Company’s future reported results and operating and accounting processes and systems. The Company expects to elect the practical expedients which allow the Company to forgo reassessing whether existing contracts are or contain leases, forgo reassessing the classification of existing leases and forgo reassessing initial direct costs of existing leases at the initial application date. In May 2014, the FASB issued ASU 2014-09, Topic 606, Revenue from Contracts with Customers and issued subsequent amendments to the initial guidance in August 2015, March 2016, April 2016, May 2016, and December 2016 within ASU 2015-14, ASU 2016-08, ASU 2016-10, ASU 2016-12 and ASU 2016-20, respectively. The new standard supersedes a majority of existing revenue recognition guidance under U.S. GAAP and requires a company to recognize revenue when it transfers goods or services to a customer in an amount that reflects the consideration to which a company expects to be entitled. Companies may need to use more judgment and make more estimates while recognizing revenue, which could result in additional disclosures to the financial statements. On January 1, 2018, the Company adopted ASU 2014-09 using the modified retrospective method applied to those contracts which were not completed as of January 1, 2018. Results of operations for periods after January 1, 2018 reflect the changes under ASU 2014-09. Results of operations for periods before January 1, 2018, continue to be reported under guidance in effect at that time. The adoption did not have a material effect on the Company’s consolidated financial statements. See Note 2 for disclosures as a result of the adoption.
Revenue Recognition	Revenues are recognized when control of the promised goods or services is transferred to customers, in an amount that reflects the consideration the Company expects to be entitled to in exchange for goods or services. Revenues are recognized as performance obligations that are satisfied at either a point in time, such as when an advertisement is published, or over time, such as content licensing.

CHANGES IN OPERATIONS (Tables)

CHANGES IN OPERATIONS (Tables)	6 Months Ended
	Jul. 01, 2018
Restructuring and Related Activities [Abstract]
Summary of lease abandonment accrual activity	A summary of the activity with respect to the Company’s severance accrual for the six months ended July 1, 2018 is as follows (in thousands): Balance at December 31, 2017 $ 11,532 Provision 10,691 Payments (12,681 ) Balance at July 1, 2018 $ 9,542 A summary of the activity with respect to the Company’s lease abandonment accrual for the six months ended July 1, 2018 is as follows (in thousands): Balance at December 31, 2017 $ 3,127 Provision 33 Payments and other (1,977 ) Balance at July 1, 2018 $ 1,183

ACQUISITIONS (Tables)

ACQUISITIONS (Tables)	6 Months Ended
	Jul. 01, 2018
Business Combinations [Abstract]
Schedule of Business Acquisitions by Acquisition	The allocation of the purchase price presented below is based upon management’s preliminary estimates. The Company has engaged a valuation firm to assist with the valuation of intangible assets and noncontrolling interest; however, such valuation is not complete as of the filing date of this report. The preliminary allocation of the purchase price is as follows (in thousands): Consideration Cash consideration for acquisition $ 33,693 Fair value of noncontrolling interest 40,900 Value of shares issued for acquisition 34,595 Total consideration $ 109,188 Allocated Fair Value of Acquired Assets and Assumed Liabilities Accounts receivable and other current assets $ 9,966 Property, plant and equipment 36 Intangible assets 12,540 Accounts payable and other current liabilities (993 ) Total identifiable assets (liabilities), net 21,549 Goodwill 87,639 Total net assets acquired $ 109,188 Allocated Fair Value of Acquired Assets and Assumed Liabilities Cash acquired as part of the purchase $ 2,555 Accounts receivable and other current assets 18,532 Property, plant and equipment, including assets under capital leases 47,972 Mastheads 3,400 Other long-term assets 10,448 Accounts payable and other current liabilities (20,973 ) Pension and postemployment benefits liability (25,446 ) Workers compensation and auto insurance liability (25,999 ) Other long-term liabilities (10,489 ) Total net assets acquired $ — The preliminary allocation of the purchase price is as follows (in thousands): Consideration Cash consideration for acquisition $ 34,004 Total consideration $ 34,004 Allocated Fair Value of Acquired Assets and Assumed Liabilities Accounts receivable and other current assets $ 7,028 Property, plant and equipment 30,485 Mastheads 4,700 Accounts payable and other current liabilities (9,918 ) Other long term obligations (68 ) Total identifiable assets (liabilities), net 32,227 Goodwill 1,777 Total net assets acquired $ 34,004

DISPOSITIONS AND DISCONTINUED30

DISPOSITIONS AND DISCONTINUED OPERATIONS (Tables)	6 Months Ended
	Jul. 01, 2018
Discontinued Operations and Disposal Groups [Abstract]
Disposal Groups, Including Discontinued Operations [Table Text Block]	Earnings from discontinued operations through the respective transaction dates, included in the Consolidated Statements of Income are comprised of the following (in thousands): Three months ended Six months ended July 1, 2018 June 25, 2017 July 1, June 25, Operating revenues $ 94,251 $ 126,355 $ 211,327 $ 252,497 Operating expenses: Compensation 25,065 34,722 58,763 71,479 Newsprint and ink 6,938 8,756 14,373 17,947 Outside services 30,075 34,353 61,650 68,168 Other operating expenses 26,804 33,280 56,541 65,401 Depreciation and amortization 1,328 1,674 2,960 4,156 Total operating expenses 90,210 112,785 194,287 227,151 Income from operations 4,041 13,570 17,040 25,346 Gain on sale 409,334 — 409,334 — Interest expense, net (23 ) (39 ) (53 ) (81 ) Loss on equity investments, net — 139 — 349 Other income, net 613 150 1,338 300 Income tax expense (133,420 ) (5,039 ) (132,914 ) (9,210 ) Income from discontinued operations, net of tax $ 280,545 $ 8,781 $ 294,745 $ 16,704 Discontinued operations by segment are presented below (in thousands): Three months ended Six months ended July 1, 2018 June 25, 2017 July 1, June 25, Operating revenues troncM $ 81,631 $ 107,559 $ 185,836 $ 215,149 troncX 12,570 18,762 25,429 37,274 Corporate and eliminations 50 34 62 74 $ 94,251 $ 126,355 $ 211,327 $ 252,497 Income from Operations troncM $ (75 ) $ 8,249 $ 10,918 $ 15,460 troncX 4,065 5,328 6,079 9,902 Corporate and eliminations 51 (7 ) 43 (16 ) $ 4,041 $ 13,570 $ 17,040 $ 25,346 Depreciation and amortization troncM $ 1,289 $ 1,607 $ 2,856 $ 4,029 troncX 39 67 104 127 $ 1,328 $ 1,674 $ 2,960 $ 4,156
Aggregate Carrying Amounts of Assets and Liabilities Held for Sale	The following table presents the aggregate carrying amounts of assets and liabilities classified as held for sale in the Consolidated Balance Sheets (in thousands): July 1, December 31, Carrying amount of assets related to discontinued operations: Accounts receivable, (net of allowances of $0 and $7,388) $ — $ 51,200 All other current assets — 10,576 Goodwill — 73,207 Intangibles — 63,397 Property, plant and equipment, net — 12,550 Deferred income taxes — 28,787 All other long term assets — 438 Total assets related to discontinued operations $ — $ 240,155 Carrying amount of liabilities associated with discontinued operations: Accounts payable and employee compensation and benefits $ — $ 27,293 Deferred revenue — 26,039 Other current liabilities — 7,062 Pensions and postretirement benefits payable — 90,155 Insurance — 26,200 Income taxes payable 107,624 — Total liabilities associated with discontinued operations $ 107,624 $ 176,749

INVENTORIES (Tables)

INVENTORIES (Tables)	6 Months Ended
	Jul. 01, 2018
Inventory Disclosure [Abstract]
Schedule of inventory	Inventories consisted of the following (in thousands): As of July 1, 2018 December 31, 2017 Newsprint $ 10,692 $ 7,072 Supplies and other 325 340 Total inventories $ 11,017 $ 7,412

GOODWILL AND OTHER INTANGIBLE32

GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)	6 Months Ended
	Jul. 01, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Summary of goodwill, other intangible assets	Goodwill and other intangible assets at July 1, 2018 and December 31, 2017 , excluding assets related to discontinued operations, consisted of the following (in thousands): July 1, 2018 December 31, 2017 Gross Amount Accumulated Amortization Net Amount Gross Amount Accumulated Amortization Net Amount Intangible assets subject to amortization Subscribers (useful life of 2 to 10 years) $ 7,312 $ (4,231 ) $ 3,081 $ 7,312 $ (3,762 ) $ 3,550 Advertiser relationships (useful life of 2 to 13 years) 26,348 (11,204 ) 15,144 26,348 (10,013 ) 16,335 Tradenames (useful life of 20 years) 15,100 (2,962 ) 12,138 15,100 (2,583 ) 12,517 Other (useful life of 1 to 20 years) 15,862 (2,406 ) 13,456 5,379 (2,243 ) 3,136 Total intangible assets subject to amortization $ 64,622 $ (20,803 ) 43,819 $ 54,139 $ (18,601 ) 35,538 Software (useful life of 2 to 10 years) $ 133,670 $ (100,432 ) 33,238 $ 129,795 $ (90,218 ) 39,577 Goodwill and other intangible assets not subject to amortization Goodwill 138,201 48,700 Newspaper mastheads 36,706 29,458 Total goodwill and other intangible assets $ 251,964 $ 153,273

PENSION AND OTHER POSTRETIREM33

PENSION AND OTHER POSTRETIREMENT BENEFITS (Tables)	6 Months Ended
	Jul. 01, 2018
Retirement Benefits [Abstract]
Schedule of defined benefit plans net periodic benefit credit	The components of net periodic benefit for the NYDN Pension Plan are as follows (in thousands): Three Months Ended Six Months Ended Affected Line Items in the Consolidated Statements of Income (Loss) July 1, 2018 June 25, 2017 July 1, 2018 June 25, 2017 Service cost $ (8 ) $ — $ 72 $ — Compensation Interest cost 825 — 1,636 — Other income, net Expected return on assets (1,165 ) — (2,333 ) — Other income, net Net periodic benefit $ (348 ) $ — $ (625 ) $ —
Schedule of components of net periodic benefit cost	The components of net periodic benefit credit for the Company’s postretirement health care and life insurance plans were as follows (in thousands): Three Months Ended Six Months Ended Affected Line Items in the Consolidated Statements of Income (Loss) July 1, 2018 June 25, 2017 July 1, 2018 June 25, 2017 Service cost $ 4 $ 3 $ 7 $ 6 Compensation Interest cost 8 55 17 110 Other income, net Amortization of prior service credits (2,634 ) (292 ) (5,267 ) (584 ) Other income, net Amortization of actuarial gains (657 ) (47 ) (1,315 ) (93 ) Other income, net Net periodic benefit $ (3,279 ) $ (281 ) $ (6,558 ) $ (561 )

NONCONTROLLING INTERESTS (Table

NONCONTROLLING INTERESTS (Tables)	6 Months Ended
	Jul. 01, 2018
Noncontrolling Interest [Abstract]
Noncontrolling Interest Activity	A summary of the activity with respect to non-controlling interest for the six months ended July 1, 2018 is as follows (in thousands): Balance at December 31, 2017 $ — Acquisition of BestReviews 40,900 Income attributable to noncontrolling interest 710 Balance at July 1, 2018 $ 41,610

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	6 Months Ended
	Jul. 01, 2018
Earnings Per Share [Abstract]
Schedule of basic and diluted earnings per common share	For the three and six months ended July 1, 2018 and June 25, 2017 , basic and diluted earnings per common share were as follows (in thousands, except per share amounts): Three Months Ended Six Months Ended July 1, 2018 June 25, 2017 July 1, 2018 June 25, 2017 Income (Loss) - Numerator: Loss from continuing operations $ (15,101 ) $ (1,940 ) $ (43,813 ) $ (12,852 ) Less: Net income from continuing operations attributable to noncontrolling interest 448 — 710 — Income available to common shareholders, before discontinued operations (15,549 ) (1,940 ) (44,523 ) (12,852 ) Income from discontinued operations 280,545 8,781 294,745 16,704 Net income available to tronc stockholders $ 264,996 $ 6,841 $ 250,222 $ 3,852 Shares - Denominator: Weighted average number of common shares outstanding (basic) 35,288 32,825 35,045 34,566 Dilutive effect of employee stock options and RSUs — — — — Adjusted weighted average shares outstanding (diluted) 35,288 32,825 35,045 34,566 Net income (loss) attributable to tronc per common share: Continuing operations $ (0.44 ) $ (0.06 ) $ (1.27 ) $ (0.37 ) Discontinued operations 7.95 0.27 8.41 0.48 Net income per common share $ 7.51 $ 0.21 $ 7.14 $ 0.11 Diluted income (loss) per common share: Continuing operations $ (0.44 ) $ (0.06 ) $ (1.27 ) $ (0.37 ) Discontinued operations 7.95 0.27 8.41 0.48 Net income per common share-diluted $ 7.51 $ 0.21 $ 7.14 $ 0.11

ACCUMULATED OTHER COMPREHENSI36

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)	6 Months Ended
	Jul. 01, 2018
Equity [Abstract]
Schedule of components of accumulated other comprehensive income (loss), net of tax	The following table sets forth the components of accumulated other comprehensive income (loss), net of tax, where applicable (in thousands): Foreign Currency OPEB Pension Total Balance at December 31, 2017 $ (31 ) $ 9,932 $ (23,428 ) $ (13,527 ) Amounts reclassified from AOCI — (4,752 ) — (4,752 ) Foreign currency translation adjustments (5 ) — — (5 ) AOCI recognized in discontinued operations — — 25,397 25,397 Balance at July 1, 2018 $ (36 ) $ 5,180 $ 1,969 $ 7,113
Schedule of reclassification out of accumulated other comprehensive income (loss)	The following table presents the amounts and line items in the Consolidated Statements of Income where adjustments reclassified from accumulated other comprehensive income (loss) were recorded during the three and six months ended July 1, 2018 and June 25, 2017 (in thousands): Three Months Ended Six months ended July 1, 2018 June 25, 2017 July 1, 2018 June 25, 2017 Affected Line Items in the Consolidated Statements of Income (Loss) Accumulated Other Comprehensive Income (Loss) Components Pension and postretirement benefit adjustments: Amortization of prior service credits $ (2,634 ) $ (292 ) $ (5,267 ) $ (584 ) Other income, net Amortization of actuarial gains (657 ) (47 ) (1,315 ) (93 ) Other income, net Total before taxes (3,291 ) (339 ) (6,582 ) (677 ) Tax effect (915 ) (133 ) (1,830 ) (267 ) Income tax expense (benefit) Total reclassifications for the period $ (2,376 ) $ (206 ) $ (4,752 ) $ (410 )

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	6 Months Ended
	Jul. 01, 2018
Segment Reporting [Abstract]
Operating revenue and income (loss) from operations by operating segment	perating revenues and income (loss) from continuing operations by operating segment for the three months ended July 1, 2018 and June 25, 2017, respectively, were as follows for the periods indicated (in thousands): Three Months Ended tronc M troncX Corporate and Eliminations Consolidated (Print) (Digital) July 1, 2018 June 25, 2017 July 1, 2018 June 25, 2017 July 1, 2018 June 25, 2017 July 1, 2018 June 25, 2017 Advertising $ 87,800 $ 93,285 $ 23,987 $ 31,577 $ — $ (37 ) $ 111,787 $ 124,825 Circulation 88,616 73,978 4,172 2,230 — — 92,788 76,208 Commercial print and delivery 25,784 24,600 — — — — 25,784 24,600 Direct mail 8,025 9,214 — — — — 8,025 9,214 Content syndication and other 2,072 3,801 11,982 5,673 599 (886 ) 14,653 8,588 Other 35,881 37,615 11,982 5,673 599 (886 ) 48,462 42,402 Operating revenues 212,297 204,878 40,141 39,480 599 (923 ) 253,037 243,435 Operating expenses 204,410 191,803 36,691 36,403 13,181 10,767 254,282 238,973 Income (loss) from operations $ 7,887 $ 13,075 $ 3,450 $ 3,077 $ (12,582 ) $ (11,690 ) (1,245 ) 4,462 Interest expense (5,412 ) (6,365 ) Loss on early extinguishment of debt (7,666 ) — Loss on investments, net (665 ) (723 ) Other income, net 3,640 284 Loss from continuing operations before income taxes $ (11,348 ) $ (2,342 ) Depreciation and amortization $ 3,990 $ 5,281 $ 4,505 $ 3,512 $ 4,447 $ 4,194 $ 12,942 $ 12,987

SUPPLEMENTAL CASH FLOW INFORM38

SUPPLEMENTAL CASH FLOW INFORMATION (Tables)	6 Months Ended
	Jul. 01, 2018
Supplemental Cash Flow Elements [Abstract]
Schedule of supplemental cash flow information	Supplemental cash flow information for each of the periods presented is as follows (in thousands): Six months ended July 1, 2018 June 25, 2017 Cash paid during the period for: Interest $ 10,489 $ 11,325 Income taxes, net of refunds 3,967 113 Non-cash items in financing activities: Issuance of stock from treasury for acquisition 34,595 —
Restrictions on cash and cash equivalents	The following table provides a reconciliation of cash, cash equivalents, and restricted cash as reported within the Consolidated Condensed Balance Sheet that sum to the cash, cash equivalents and restricted cash as reported in the Consolidated Statement of Cash Flows: As of As of July 1, December 31, Cash and cash equivalents $ 214,544 $ 185,351 Restricted cash included in other assets 42,600 — Total cash, cash equivalents, and restricted cash shown in the statement of cash flows $ 257,144 $ 185,351
Schedule of cash and cash equivalents	The following table provides a reconciliation of cash, cash equivalents, and restricted cash as reported within the Consolidated Condensed Balance Sheet that sum to the cash, cash equivalents and restricted cash as reported in the Consolidated Statement of Cash Flows: As of As of July 1, December 31, Cash and cash equivalents $ 214,544 $ 185,351 Restricted cash included in other assets 42,600 — Total cash, cash equivalents, and restricted cash shown in the statement of cash flows $ 257,144 $ 185,351

DESCRIPTION OF BUSINESS AND B39

DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION - Textual (Details)	6 Months Ended
	Jul. 01, 2018pulitzer_prizemarket
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of markets | market	8
Number of Pulitzer Prizes | pulitzer_prize	60

REVENUE RECOGNITION - (Details)

REVENUE RECOGNITION - (Details) - USD ($) $ in Millions	6 Months Ended
	Jul. 01, 2018	Dec. 31, 2017
Revenue from Contract with Customer [Abstract]
Contract liabilities		$ 55.1
Contract liabilities recognized as revenue	$ 41.5

CHANGES IN OPERATIONS - Textual

CHANGES IN OPERATIONS - Textual (Details) $ in Thousands	1 Months Ended	3 Months Ended			6 Months Ended
	Aug. 08, 2018position	Sep. 30, 2018USD ($)	Jul. 01, 2018USD ($)position	Jun. 25, 2017USD ($)position	Jul. 01, 2018USD ($)position	Jun. 25, 2017USD ($)position
Restructuring Cost and Reserve [Line Items]
Restructuring charges					$ 10,691
Contract termination | Property subject to operating lease
Restructuring Cost and Reserve [Line Items]
Restructuring charges					33
Printing, Packaging, and Delivery Outsource
Restructuring Cost and Reserve [Line Items]
Restructuring charges				$ 2,300		$ 2,300
Reductions in staffing levels in operations | position				112		112
Additional restructuring
Restructuring Cost and Reserve [Line Items]
Restructuring charges			$ 5,000	$ 900	$ 10,700	$ 3,000
Reductions in staffing levels in operations | position			106	41	287	92
Subsequent Event
Restructuring Cost and Reserve [Line Items]
Reductions in staffing levels in operations | position	178
Minimum | Scenario, Forecast | Subsequent Event
Restructuring Cost and Reserve [Line Items]
Restructuring charges		$ 5,200
Maximum | Scenario, Forecast | Subsequent Event
Restructuring Cost and Reserve [Line Items]
Restructuring charges		$ 5,400

CHANGES IN OPERATIONS - Summary

CHANGES IN OPERATIONS - Summary of Severance Accrual (Details) $ in Thousands	6 Months Ended
	Jul. 01, 2018USD ($)
Restructuring Reserve [Roll Forward]
Balance at beginning of period	$ 11,532
Provision	10,691
Payments	(12,681)
Balance at end of period	$ 9,542

CHANGES IN OPERATIONS - Summa43

CHANGES IN OPERATIONS - Summary of Lease Abandonment Accrual Activity (Details) $ in Thousands	6 Months Ended
	Jul. 01, 2018USD ($)
Restructuring Reserve [Roll Forward]
Balance at beginning of period	$ 11,532
Provision	10,691
Payments and other	(12,681)
Balance at end of period	9,542
Property subject to operating lease | Contract termination
Restructuring Reserve [Roll Forward]
Balance at beginning of period	3,127
Provision	33
Payments and other	(1,977)
Balance at end of period	$ 1,183

RELATED PARTY TRANSACTIONS - Me

RELATED PARTY TRANSACTIONS - Merrick Consulting Agreement (Details) - Merrick Ventures, LLC - USD ($) $ in Millions	Dec. 20, 2017	Jun. 30, 2018	Jan. 31, 2018	Apr. 30, 2017	Jul. 01, 2018	Apr. 01, 2018	Jun. 25, 2017	Mar. 26, 2017	Jun. 25, 2017	Dec. 31, 2017	Dec. 25, 2016
Tribune Publishing Company, LLC
Related Party Transaction [Line Items]
Amount of related party transaction	$ 5			$ 0.3						$ 3	$ 2.7
Initial payment to related party			$ 5					$ 0.2
Related party expense		$ 7.5			$ 12.5	$ 15
Reduction in total fees					2.5
Tribune Publishing Company, LLC | Payment of legal fees
Related Party Transaction [Line Items]
Amount of related party transaction					$ 0.3
Tribune Publishing Company, LLC | Aircraft Dry sublease agreement
Related Party Transaction [Line Items]
Amount of related party transaction							$ 0.6		$ 1.3
Related party expense							$ 0.4		$ 1
Private placement | Affiliated entity | Merrick Shares purchase agreement
Related Party Transaction [Line Items]
Sale of stock, lock-up period	3 years

RELATED PARTY TRANSACTIONS - A

RELATED PARTY TRANSACTIONS - Aircraft Dry Sublease Textual (Details) - Tribune Publishing Company, LLC - USD ($) $ in Millions	Dec. 20, 2017	Jun. 30, 2018	Apr. 30, 2017	Jul. 01, 2018	Apr. 01, 2018	Jun. 25, 2017	Jun. 25, 2017	Dec. 31, 2017	Dec. 25, 2016
Merrick Ventures, LLC
Related Party Transaction [Line Items]
Amount of related party transaction	$ 5		$ 0.3					$ 3	$ 2.7
Reimbursement of lease expense		$ 7.5		$ 12.5	$ 15
Aircraft Dry sublease agreement | Merrick Ventures, LLC
Related Party Transaction [Line Items]
Amount of related party transaction						$ 0.6	$ 1.3
Reimbursement of lease expense						0.4	1
Aircraft Dry sublease agreement | Third-Party Pilot Service
Related Party Transaction [Line Items]
Reimbursement of lease expense						$ 0.1	$ 0.2

RELATED PARTY TRANSACTIONS - Ev

RELATED PARTY TRANSACTIONS - Event Tickets (Details) - Merrick Ventures, LLC - Tribune Publishing Company, LLC - USD ($) $ in Millions	Dec. 20, 2017	Jan. 31, 2018	Apr. 30, 2017	Mar. 26, 2017	Dec. 31, 2017	Dec. 25, 2016
Related Party Transaction [Line Items]
Amount of related party transaction	$ 5		$ 0.3		$ 3	$ 2.7
Payments for tickets at face value		$ 5		$ 0.2

RELATED PARTY TRANSACTIONS - Nu

RELATED PARTY TRANSACTIONS - Nucleus Marketing Solutions, LLC (Details) - Equity method investments - Nucleus Marketing Solutions, LLC - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 25, 2017	Jun. 25, 2017	Jul. 01, 2018
Related Party Transaction [Line Items]
Equity method investment, ownership percentage			25.00%
Other revenue	$ 1.6	$ 3.6

ACQUISITIONS (Details)

ACQUISITIONS (Details)	May 28, 2018USD ($)ft²	Feb. 06, 2018USD ($)shares	Sep. 03, 2017USD ($)	Jul. 01, 2018USD ($)	Jul. 01, 2018USD ($)
Virginian-Pilot
Business Acquisition [Line Items]
Cash purchase price	$ 34,004,000
Area of real estate portfolio acquired | ft²	460,000
Reported revenues				$ 5,500,000	$ 5,500,000
Reported operating expenses				5,100,000	5,100,000
BestReviews LLC
Business Acquisition [Line Items]
Cash purchase price		$ 109,188,000
Reported revenues				5,900,000	9,100,000
Reported operating expenses				$ 4,700,000	$ 7,300,000
Percentage of partnership interests acquired		60.00%
Total purchase price		$ 68,300,000
Cash consideration for acquisition		33,693,000
Post-closing working capital adjustment		600,000
Common stock issued in acquisition		$ 34,600,000
Daily News, L.P. and NYDailyNews.com
Business Acquisition [Line Items]
Percentage of partnership interests acquired			100.00%
Cash consideration for acquisition			$ 1
Tribune Media Company | BestReviews LLC
Business Acquisition [Line Items]
Percent of membership interests remaining to purchase		40.00%
Right to purchase membership units, percentage		25.00%
Requirement to purchase membership interests, percentage		10.00%
Common Stock | BestReviews LLC
Business Acquisition [Line Items]
Common stock issued in acquisition (in shares) | shares		1,913,438
Lock-Up Provision Period One | BestReviews LLC
Business Acquisition [Line Items]
Percent of shares subject to lock-up provisions		25.00%
Lock-Up Provision Period Two | BestReviews LLC
Business Acquisition [Line Items]
Percent of shares subject to lock-up provisions		50.00%
Lock-Up Provision Period Three | BestReviews LLC
Business Acquisition [Line Items]
Percent of shares subject to lock-up provisions		25.00%

ACQUISITIONS - Schedule of Virg

ACQUISITIONS - Schedule of Virginian-Pilot Acquisition (Details) - USD ($) $ in Thousands	May 28, 2018	Feb. 06, 2018	Jul. 01, 2018	Dec. 31, 2017
Business Acquisition [Line Items]
Goodwill			$ 138,201	$ 48,700
Virginian-Pilot
Business Acquisition [Line Items]
Total purchase price	$ 34,004
Accounts receivable and other current assets	7,028
Property, plant and equipment, including assets under capital leases	30,485
Mastheads	4,700
Accounts payable and other current liabilities	(9,918)
Other long term obligations	(68)
Total identifiable net assets (liabilities)	32,227
Goodwill	1,777
Total net assets acquired	$ 34,004
BestReviews LLC
Business Acquisition [Line Items]
Total purchase price		$ 109,188
Accounts receivable and other current assets		9,966
Property, plant and equipment, including assets under capital leases		36
Mastheads		12,540
Accounts payable and other current liabilities		(993)
Total identifiable net assets (liabilities)		21,549
Goodwill		87,639
Total net assets acquired		$ 109,188

ACQUISITIONS - Schedule of Best

ACQUISITIONS - Schedule of BestReviews Business Acquisition (Details) - USD ($)	Feb. 06, 2018	Sep. 03, 2017	Jul. 01, 2018	Dec. 31, 2017
Business Acquisition [Line Items]
Goodwill			$ 138,201,000	$ 48,700,000
BestReviews LLC
Business Acquisition [Line Items]
Cash consideration for acquisition	$ 33,693,000
Fair value of noncontrolling interest	40,900,000
Value of shares issued for acquisition	34,595,000
Accounts receivable and other current assets	9,966,000
Property, plant and equipment, including assets under capital leases	36,000
Intangible assets	12,540,000
Accounts payable and other current liabilities	(993,000)
Total purchase price	109,188,000
Total identifiable net assets (liabilities)	21,549,000
Goodwill	87,639,000
Total net assets acquired	$ 109,188,000
Daily News, L.P. and NYDailyNews.com
Business Acquisition [Line Items]
Cash consideration for acquisition		$ 1
Cash acquired as part of the purchase		2,555,000
Accounts receivable and other current assets		18,532,000
Property, plant and equipment, including assets under capital leases		47,972,000
Mastheads		3,400,000
Other long-term assets		10,448,000
Accounts payable and other current liabilities		(20,973,000)
Pension and postemployment benefits liability		(25,446,000)
Workers compensation and auto insurance liability		(25,999,000)
Other long-term liabilities		10,489,000
Total net assets acquired		$ 0

DISPOSITIONS AND DISCONTINUED51

DISPOSITIONS AND DISCONTINUED OPERATIONS (Details) - USD ($) $ in Millions	Jun. 18, 2018	Feb. 07, 2018	Jun. 25, 2017	Jun. 26, 2016	Jul. 01, 2018	Jun. 25, 2017	May 23, 2018	Jul. 31, 2017
California Properties | Discontinued Operations, Disposed of by Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Aggregate purchase price	$ 500
Gain on sale	$ 407.6
Forsalebyowner.com | Discontinued Operations, Disposed of by Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Aggregate purchase price							$ 2.5
Advertising sales commitment received					$ 4.5
Term of advertising sales commitment					2 years
Beneficial owner | Transaction Services Agreement
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Transition services agreement term		12 months
Days' notice to discontinue transition services agreement		60 days
Other revenue					$ 1.2
Private placement | Beneficial owner | Nant Rights purchase agreement | Dr. Soon-Shiong
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Beneficial ownership by related party, common shares owned (in shares)					8,743,619
Beneficial ownership by related party, percentage of common stock owned					24.80%
Private placement | Beneficial owner | Nant Term sheet agreement | Nant Capital
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Shares to be issued (in shares)				333,333
Amount retained from patent agreement				$ 80
Percent of royal revenue to be paid				6.00%
CIPS Marketing Group, Inc. | Equity method investments
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Other revenue			$ 0.2			$ 0.5
CIPS Marketing Group, Inc. | Other operating expense | Equity method investments
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Equity method investment, ownership percentage								50.00%
Marketing expense			$ 2.2			$ 3.8

DISPOSITIONS AND DISCONTINUED52

DISPOSITIONS AND DISCONTINUED OPERATIONS - Earnings from Discontinued Operations (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 01, 2018	Jun. 25, 2017	Jul. 01, 2018	Jun. 25, 2017
Operating expenses:
Income from discontinued operations, net of tax	$ 280,545	$ 8,781	$ 294,745	$ 16,704
Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Operating revenues	94,251	126,355	211,327	252,497
Operating expenses:
Compensation	25,065	34,722	58,763	71,479
Newsprint and ink	6,938	8,756	14,373	17,947
Outside services	30,075	34,353	61,650	68,168
Other operating expenses	26,804	33,280	56,541	65,401
Depreciation and amortization	1,328	1,674	2,960	4,156
Total operating expenses	90,210	112,785	194,287	227,151
Income from operations	4,041	13,570	17,040	25,346
Gain on sale	409,334	0	409,334	0
Interest expense, net	(23)	(39)	(53)	(81)
Loss on equity investments, net	0	139	0	349
Other income, net	613	150	1,338	300
Income tax expense	(133,420)	(5,039)	(132,914)	(9,210)
Income from discontinued operations, net of tax	$ 280,545	$ 8,781	$ 294,745	$ 16,704

DISPOSITIONS AND DISCONTINUED53

DISPOSITIONS AND DISCONTINUED OPERATIONS - Discontinued Operations by Segment (Details) - Discontinued Operations - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 01, 2018	Jun. 25, 2017	Jul. 01, 2018	Jun. 25, 2017
Segment Reporting Information [Line Items]
Operating revenues	$ 94,251	$ 126,355	$ 211,327	$ 252,497
Income from Operations	4,041	13,570	17,040	25,346
Depreciation and amortization	1,328	1,674	2,960	4,156
Operating segments | troncM
Segment Reporting Information [Line Items]
Operating revenues	81,631	107,559	185,836	215,149
Income from Operations	(75)	8,249	10,918	15,460
Depreciation and amortization	1,289	1,607	2,856	4,029
Operating segments | troncX
Segment Reporting Information [Line Items]
Operating revenues	12,570	18,762	25,429	37,274
Income from Operations	4,065	5,328	6,079	9,902
Depreciation and amortization	39	67	104	127
Corporate and eliminations
Segment Reporting Information [Line Items]
Operating revenues	50	34	62	74
Income from Operations	$ 51	$ (7)	$ 43	$ (16)

DISPOSITIONS AND DISCONTINUED54

DISPOSITIONS AND DISCONTINUED OPERATIONS - Assets and Liabilities Associated with Discontinued Operations (Details) - USD ($) $ in Thousands	Jul. 01, 2018	Dec. 31, 2017
Carrying amount of liabilities associated with assets held for sale
Allowances for doubtful accounts	$ 10,613	$ 7,388
Discontinued Operations, Held-for-sale
Carrying amount of assets related to discontinued operations:
Accounts receivable, (net of allowances of $0 and $7,388)	0	51,200
All other current assets	0	10,576
Goodwill	0	73,207
Intangibles	0	63,397
Property, plant and equipment, net	0	12,550
Deferred income taxes	0	28,787
All other long term assets	0	438
Total assets related to discontinued operations	0	240,155
Carrying amount of liabilities associated with assets held for sale
Accounts payable and employee compensation and benefits	0	27,293
Deferred revenue	0	26,039
Other current liabilities	0	7,062
Pensions and postretirement benefits payable	0	90,155
Insurance	0	26,200
Income taxes payable	107,624	0
Total liabilities associated with discontinued operations	107,624	176,749
Allowances for doubtful accounts	$ 0	$ 7,388

INVENTORIES - Summary of Invent

INVENTORIES - Summary of Inventory (Details) - USD ($) $ in Thousands	Jul. 01, 2018	Dec. 31, 2017
Inventory Disclosure [Abstract]
Newsprint	$ 10,692	$ 7,072
Supplies and other	325	340
Total inventories	$ 11,017	$ 7,412

GOODWILL AND OTHER INTANGIBLE56

GOODWILL AND OTHER INTANGIBLE ASSETS - Summary of Goodwill and Other Intangible Assets (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jul. 01, 2018	Dec. 31, 2017
Intangible assets subject to amortization
Gross Amount	$ 64,622	$ 54,139
Accumulated Amortization	(20,803)	(18,601)
Net Amount	43,819	35,538
Software
Net Amount	33,238	39,577
Goodwill and other intangible assets not subject to amortization
Goodwill	138,201	48,700
Newspaper mastheads	36,706	29,458
Total goodwill and other intangible assets	251,964	153,273
Subscribers
Intangible assets subject to amortization
Gross Amount	7,312	7,312
Accumulated Amortization	(4,231)	(3,762)
Net Amount	$ 3,081	$ 3,550
Subscribers | Minimum
Goodwill and other intangible assets not subject to amortization
Useful life	2 years	2 years
Subscribers | Maximum
Goodwill and other intangible assets not subject to amortization
Useful life	10 years	10 years
Advertiser relationships
Intangible assets subject to amortization
Gross Amount	$ 26,348	$ 26,348
Accumulated Amortization	(11,204)	(10,013)
Net Amount	$ 15,144	$ 16,335
Advertiser relationships | Minimum
Goodwill and other intangible assets not subject to amortization
Useful life	2 years	2 years
Advertiser relationships | Maximum
Goodwill and other intangible assets not subject to amortization
Useful life	13 years	13 years
Tradenames
Intangible assets subject to amortization
Gross Amount	$ 15,100	$ 15,100
Accumulated Amortization	(2,962)	(2,583)
Net Amount	$ 12,138	$ 12,517
Goodwill and other intangible assets not subject to amortization
Useful life	20 years	20 years
Other
Intangible assets subject to amortization
Gross Amount	$ 15,862	$ 5,379
Accumulated Amortization	(2,406)	(2,243)
Net Amount	$ 13,456	$ 3,136
Other | Minimum
Goodwill and other intangible assets not subject to amortization
Useful life	1 year	1 year
Other | Maximum
Goodwill and other intangible assets not subject to amortization
Useful life	20 years	20 years
Software
Software
Gross Amount	$ 133,670	$ 129,795
Accumulated Amortization	(100,432)	(90,218)
Net Amount	$ 33,238	$ 39,577
Software | Minimum
Goodwill and other intangible assets not subject to amortization
Useful life	2 years	2 years
Software | Maximum
Goodwill and other intangible assets not subject to amortization
Useful life	10 years	10 years

DEBT - Textual (Details)

DEBT - Textual (Details)	Jun. 21, 2018USD ($)	Aug. 04, 2014USD ($)	Jul. 01, 2018USD ($)	Jun. 25, 2017USD ($)	Jul. 01, 2018USD ($)	Jun. 25, 2017USD ($)	Dec. 27, 2015USD ($)	Dec. 31, 2017USD ($)
Line of Credit Facility [Line Items]
Loss on early extinguishment of debt			$ (7,666,000)	$ 0	$ (7,666,000)	$ 0
Restricted cash established	$ 42,600,000
Capital leases balance			7,500,000		7,500,000			$ 8,700,000
Current portion of capital leases			700,000		$ 700,000			$ 800,000
Senior term facility
Line of Credit Facility [Line Items]
Maximum borrowing capacity		$ 350,000,000
Potential increase in borrowing capacity		$ 100,000,000
Senior secured leverage ratio		2
Proceeds from issuance of debt							$ 70,000,000
Percentage of principal balance		1.25%
Repayments of outstanding principal balance	$ 348,000,000
Loss on early extinguishment of debt			$ (7,700,000)
Senior ABL facility
Line of Credit Facility [Line Items]
Principal amount		$ 140,000,000
Potential increase in borrowing capacity		15,000,000
Senior ABL facility | Letter of credit
Line of Credit Facility [Line Items]
Potential increase in borrowing capacity		$ 75,000,000
Commitment fee (as a percent)		0.25%

INCOME TAXES - Textual (Details

INCOME TAXES - Textual (Details) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended		12 Months Ended
	Jul. 01, 2018	Dec. 31, 2017	Jun. 25, 2017	Jul. 01, 2018	Jun. 25, 2017	Dec. 30, 2018	Dec. 31, 2017
Income Tax Contingency [Line Items]
Income tax expense (benefit)	$ 3,753		$ (402)	$ (2,926)	$ (2,280)
Effective tax rate on pretax income, percent	(33.10%)		17.20%	6.30%	15.10%		19.00%
U.S. federal statutory rate, percent	21.00%				35.00%
Nondeductible permanent difference for calculation of income taxes			$ 6,000
Tax expense recognized related to Tax Cuts and Jobs Act of 2017		$ 10,800
Scenario, Forecast
Income Tax Contingency [Line Items]
Effective tax rate on pretax income, percent						6.00%

PENSION AND OTHER POSTRETIREM59

PENSION AND OTHER POSTRETIREMENT BENEFITS - Textual (Details) - USD ($) $ in Thousands	6 Months Ended
	Jul. 01, 2018	Jun. 25, 2017
Defined Benefit Plan Disclosure [Line Items]
Pension contribution	$ 534	$ 0
Pension plan | San Diego Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Pension contribution	5,700
Pension plan | NYDN Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Pension contribution	500
Expected future contributions for rest of current year	$ 3,400

PENSION AND OTHER POSTRETIREM60

PENSION AND OTHER POSTRETIREMENT BENEFITS - Components of Defined Benefit Plan (Details) - Pension plan - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 01, 2018	Jun. 25, 2017	Jul. 01, 2018	Jun. 25, 2017
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service cost	$ (8)	$ 0	$ 72	$ 0
Interest cost	825	0	1,636	0
Expected return on assets	(1,165)	0	(2,333)	0
Net periodic benefit	$ (348)	$ 0	$ (625)	$ 0

PENSION AND OTHER POSTRETIREM61

PENSION AND OTHER POSTRETIREMENT BENEFITS - Components of Postretirement Health Care and Life Insurance Plans (Details) - Other postretirement plans - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 01, 2018	Jun. 25, 2017	Jul. 01, 2018	Jun. 25, 2017
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service cost	$ 4	$ 3	$ 7	$ 6
Interest cost	8	55	17	110
Amortization of prior service credits	(2,634)	(292)	(5,267)	(584)
Amortization of actuarial gains	(657)	(47)	(1,315)	(93)
Net periodic benefit	$ (3,279)	$ (281)	$ (6,558)	$ (561)

NONCONTROLLING INTERESTS (Detai

NONCONTROLLING INTERESTS (Details) $ in Thousands	6 Months Ended
	Jul. 01, 2018USD ($)
Noncontrolling Interest [Abstract]
Ownership percentage	40.00%
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Noncontrolling interests, beginning balance	$ 0
Acquisition of BestReviews	40,900
Income attributable to noncontrolling interest	710
Noncontrolling interests, ending balance	$ 41,610

EARNINGS PER SHARE - Textual (

EARNINGS PER SHARE - Textual (Details) - shares	3 Months Ended		6 Months Ended
	Jul. 01, 2018	Jun. 25, 2017	Jul. 01, 2018	Jun. 25, 2017
Option
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Antidilutive securities excluded from computation of EPS (in shares)	924,887	836,843	973,637	883,359
RSU
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Antidilutive securities excluded from computation of EPS (in shares)	1,821,836	558,761	1,874,250	297,592

EARNINGS PER SHARE - Basic and

EARNINGS PER SHARE - Basic and Diluted Earnings Per Common Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 01, 2018	Jun. 25, 2017	Jul. 01, 2018	Jun. 25, 2017
Income (Loss) - Numerator:
Loss from continuing operations	$ (15,101)	$ (1,940)	$ (43,813)	$ (12,852)
Less: Net income from continuing operations attributable to noncontrolling interest	448	0	710	0
Income available to common shareholders, before discontinued operations	(15,549)	(1,940)	(44,523)	(12,852)
Income from discontinued operations	280,545	8,781	294,745	16,704
Net income available to tronc stockholders	$ 264,996	$ 6,841	$ 250,222	$ 3,852
Shares - Denominator:
Weighted average number of common shares outstanding (basic) (in shares)	35,288	32,825	35,045	34,566
Dilutive effect of employee stock options and RSUs (in shares)	0	0	0	0
Adjusted weighted average shares outstanding (diluted) (in shares)	35,288	32,825	35,045	34,566
Net income (loss) attributable to tronc per common share:
Net income (loss) per common share, continuing operations (in dollars per share)	$ (0.44)	$ (0.06)	$ (1.27)	$ (0.37)
Net income (loss) per common share, discontinued operations (in dollars per share)	7.95	0.27	8.41	0.48
Net income per common share (in dollars per share)	7.51	0.21	7.14	0.11
Diluted income (loss) per common share:
Diluted income (loss) per common share, continuing operations (in dollars per share)	(0.44)	(0.06)	(1.27)	(0.37)
Diluted income (loss) per common share, discontinued operations (in dollars per share)	7.95	0.27	8.41	0.48
Net income per common share-diluted (in dollars per share)	$ 7.51	$ 0.21	$ 7.14	$ 0.11

STOCKHOLDERS' EQUITY - Textual

STOCKHOLDERS' EQUITY - Textual (Details) - USD ($) $ / shares in Units, $ in Thousands	Mar. 23, 2017	Mar. 22, 2017	May 22, 2016	Jul. 01, 2018	Jun. 25, 2017	Jul. 01, 2018	Jun. 25, 2017
Class of Stock [Line Items]
Company's closing price of stock (in dollars per share)		$ 13.39
Premium on stock buyback				$ 0	$ 0	$ 0	$ 6,031
Oaktree Capital
Class of Stock [Line Items]
Stock repurchase program, number of shares authorized to be repurchased (in shares)	3,745,947
Common stock, par value (in dollars per share)	$ 15
Stock repurchase program, authorized amount	$ 56,200
Private placement | Merrick Shares purchase agreement | Merrick Media, LLC | Affiliated entity
Class of Stock [Line Items]
Percentage of ownership of outstanding shares	30.00%	25.00%
Private placement | Merrick Shares purchase agreement | Mr. Ferro | Beneficial owner
Class of Stock [Line Items]
Beneficial ownership by related party, common shares owned (in shares)				9,071,529		9,071,529
Beneficial ownership by related party, percentage of common stock owned				25.70%		25.70%
Private placement | Nant Rights purchase agreement | Beneficial owner
Class of Stock [Line Items]
Percentage of ownership of outstanding shares			25.00%
Maximum percentage of shares allowed to be held after transfer (in shares)			4.90%
Private placement | Nant Rights purchase agreement | Dr. Soon-Shiong | Beneficial owner
Class of Stock [Line Items]
Beneficial ownership by related party, common shares owned (in shares)				8,743,619		8,743,619
Beneficial ownership by related party, percentage of common stock owned				24.80%		24.80%

ACCUMULATED OTHER COMPREHENSI66

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) - Components of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 01, 2018	Jun. 25, 2017	Jul. 01, 2018	Jun. 25, 2017
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period			$ 69,162
Amounts reclassified from AOCI			(4,752)
Foreign currency translation	$ (5)	$ 1	(5)	$ 1
Accumulated other comprehensive income recognized in discontinued operations, net of taxes of $9,702	25,397	$ 0	25,397	$ 0
Balance at end of period	378,886		378,886
Foreign Currency
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period			(31)
Amounts reclassified from AOCI			0
Foreign currency translation			(5)
Accumulated other comprehensive income recognized in discontinued operations, net of taxes of $9,702			0
Balance at end of period	(36)		(36)
AOCI
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period			(13,527)
Balance at end of period	7,113		7,113
Other postretirement plans | OPEB/Pension
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period			9,932
Amounts reclassified from AOCI			(4,752)
Foreign currency translation			0
Accumulated other comprehensive income recognized in discontinued operations, net of taxes of $9,702			0
Balance at end of period	5,180		5,180
Pension plan | OPEB/Pension
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period			(23,428)
Amounts reclassified from AOCI			0
Foreign currency translation			0
Accumulated other comprehensive income recognized in discontinued operations, net of taxes of $9,702			25,397
Balance at end of period	$ 1,969		$ 1,969

ACCUMULATED OTHER COMPREHENSI67

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) - Reclassifications (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 01, 2018	Jun. 25, 2017	Jul. 01, 2018	Jun. 25, 2017
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Pension and postretirement benefit adjustments	$ (106,455)	$ (92,609)	$ (217,293)	$ (189,003)
Income Tax Expense (Benefit)	3,753	(402)	(2,926)	(2,280)
Total reclassifications for the period	2,376	206	(4,752)	410
Amortization of prior service credits
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Pension and postretirement benefit adjustments	(2,634)	(292)	(5,267)	(584)
Amortization of actuarial gains
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Pension and postretirement benefit adjustments	(657)	(47)	(1,315)	(93)
Accumulated defined benefit plans adjustment attributable to parent
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Total before taxes	3,291	339	6,582	677
Income Tax Expense (Benefit)	$ (915)	$ (133)	$ 1,830	$ 267

CONTINGENCIES - Textual (Detai

CONTINGENCIES - Textual (Details)	Aug. 12, 2016Chapter_11_case	Dec. 31, 2012subsidiary
Commitments and Contingencies Disclosure [Abstract]
Number of wholly-owned subsidiaries | subsidiary		110
Number of Chapter 11 cases | Chapter_11_case	106

SEGMENT INFORMATION - Operating

SEGMENT INFORMATION - Operating Revenue and Income (Loss) from Operations by Operating Segment (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 01, 2018	Jun. 25, 2017	Jul. 01, 2018	Jun. 25, 2017
Segment Reporting Information [Line Items]
Operating revenues	$ 253,037	$ 243,435	$ 491,576	$ 483,410
Operating expenses	254,282	238,973	524,582	478,657
Income (loss) from operations	(1,245)	4,462	(33,006)	4,753
Interest expense, net	(5,412)	(6,365)	(11,976)	(12,800)
Loss on early extinguishment of debt	(7,666)	0	(7,666)	0
Premium on stock buyback	0	0	0	(6,031)
Loss on equity investments, net	(665)	(723)	(1,394)	(1,621)
Other income, net	3,640	284	7,303	567
Loss from continuing operations before income taxes	(11,348)	(2,342)	(46,739)	(15,132)
Depreciation and amortization	12,942	12,987	25,959	23,682
Operating segments | troncM
Segment Reporting Information [Line Items]
Operating revenues	212,297	204,878	416,508	408,801
Operating expenses	204,410	191,803	408,821	383,618
Income (loss) from operations	7,887	13,075	7,687	25,183
Depreciation and amortization	3,990	5,281	7,962	8,565
Operating segments | troncX
Segment Reporting Information [Line Items]
Operating revenues	40,141	39,480	75,285	76,407
Operating expenses	36,691	36,403	72,453	73,755
Income (loss) from operations	3,450	3,077	2,832	2,652
Depreciation and amortization	4,505	3,512	9,120	6,689
Corporate and eliminations
Segment Reporting Information [Line Items]
Operating revenues	599	(923)	(217)	(1,798)
Operating expenses	13,181	10,767	43,308	21,284
Income (loss) from operations	(12,582)	(11,690)	(43,525)	(23,082)
Depreciation and amortization	4,447	4,194	8,943	8,428
Advertising
Segment Reporting Information [Line Items]
Operating revenues	111,787	124,825	216,579	244,446
Advertising | Operating segments | troncM
Segment Reporting Information [Line Items]
Operating revenues	87,800	93,285	170,542	184,084
Advertising | Operating segments | troncX
Segment Reporting Information [Line Items]
Operating revenues	23,987	31,577	46,037	60,493
Advertising | Corporate and eliminations
Segment Reporting Information [Line Items]
Operating revenues	0	(37)	0	(131)
Circulation
Segment Reporting Information [Line Items]
Operating revenues	92,788	76,208	180,923	153,294
Circulation | Operating segments | troncM
Segment Reporting Information [Line Items]
Operating revenues	88,616	73,978	173,242	149,011
Circulation | Operating segments | troncX
Segment Reporting Information [Line Items]
Operating revenues	4,172	2,230	7,681	4,283
Circulation | Corporate and eliminations
Segment Reporting Information [Line Items]
Operating revenues	0	0	0	0
Commercial print and delivery
Segment Reporting Information [Line Items]
Operating revenues	25,784	24,600	52,789	51,173
Commercial print and delivery | Operating segments | troncM
Segment Reporting Information [Line Items]
Operating revenues	25,784	24,600	52,789	51,173
Commercial print and delivery | Operating segments | troncX
Segment Reporting Information [Line Items]
Operating revenues	0	0	0	0
Commercial print and delivery | Corporate and eliminations
Segment Reporting Information [Line Items]
Operating revenues	0	0	0	0
Direct mail
Segment Reporting Information [Line Items]
Operating revenues	8,025	9,214	15,628	17,800
Direct mail | Operating segments | troncM
Segment Reporting Information [Line Items]
Operating revenues	8,025	9,214	15,628	17,800
Direct mail | Operating segments | troncX
Segment Reporting Information [Line Items]
Operating revenues	0	0	0	0
Direct mail | Corporate and eliminations
Segment Reporting Information [Line Items]
Operating revenues	0	0	0	0
Content syndication and other
Segment Reporting Information [Line Items]
Operating revenues	14,653	8,588	25,657	16,697
Content syndication and other | Operating segments | troncM
Segment Reporting Information [Line Items]
Operating revenues	2,072	3,801	4,307	6,733
Content syndication and other | Operating segments | troncX
Segment Reporting Information [Line Items]
Operating revenues	11,982	5,673	21,567	11,631
Content syndication and other | Corporate and eliminations
Segment Reporting Information [Line Items]
Operating revenues	599	(886)	(217)	(1,667)
Other
Segment Reporting Information [Line Items]
Operating revenues	48,462	42,402	94,074	85,670
Other | Operating segments | troncM
Segment Reporting Information [Line Items]
Operating revenues	35,881	37,615	72,724	75,706
Other | Operating segments | troncX
Segment Reporting Information [Line Items]
Operating revenues	11,982	5,673	21,567	11,631
Other | Corporate and eliminations
Segment Reporting Information [Line Items]
Operating revenues	$ 599	$ (886)	$ (217)	$ (1,667)

SUPPLEMENTAL CASH FLOW INFORM70

SUPPLEMENTAL CASH FLOW INFORMATION - Summary of Supplemental Cash Flow (Details) - USD ($) $ in Thousands	6 Months Ended
	Jul. 01, 2018	Jun. 25, 2017
Cash paid during the period for:
Interest	$ 10,489	$ 11,325
Income taxes, net of refunds	3,967	113
Non-cash items in financing activities:
Issuance of stock from treasury for acquisition	$ 34,595	$ 0

SUPPLEMENTAL CASH FLOW INFORM71

SUPPLEMENTAL CASH FLOW INFORMATION - Reconciliation of Cash, Cash Equivalents, and Restricted Cash (Details) - USD ($) $ in Thousands	Jul. 01, 2018	Dec. 31, 2017	Jun. 25, 2017	Dec. 25, 2016
Supplemental Cash Flow Elements [Abstract]
Cash and cash equivalents	$ 214,544	$ 185,351
Restricted cash included in other assets	42,600	0
Total cash, cash equivalents, and restricted cash shown in the statement of cash flows	$ 257,144	$ 185,351	$ 174,200	$ 198,349