v3.25.1
Investments In Associated Companies
 6 Months Ended
Mar. 30, 2025
Equity Method Investments and Joint Ventures [Abstract]  
Investments In Associated Companies INVESTMENTS IN ASSOCIATED COMPANIES
TNI Partners
In Tucson, Arizona, TNI, acting as agent for our subsidiary, Star Publishing Company (“Star Publishing”), and Gannett Co., Inc.'s subsidiary Citizen Publishing Company (“Citizen”), is responsible for printing, delivery, advertising, and subscription activities of the Arizona Daily Star as well as the related digital platforms and specialty publications. TNI collects all receipts and income and pays substantially all operating expenses incident to the partnership's operations and publication of the newspaper and other media.
Income or loss of TNI (before income taxes) is allocated equally to Star Publishing and Citizen.
Summarized results of TNI are as follows:
Three months endedSix months ended
(Thousands of Dollars)March 30,
2025		March 24,
2024		March 30,
2025		March 24,
2024
Operating revenue5,756 7,360 12,289 14,351 
Operating expenses4,080 5,450 9,286 10,131 
Operating income1,676 1,910 3,003 4,220 
Net income1,817 1,910 3,067 4,220 
Equity in earnings of TNI909 955 1,534 2,110 
TNI makes periodic distributions of its earnings and for the three months ended March 30, 2025, and March 24, 2024, we received $1.2 million and $0.9 million in distributions, respectively. In the six months ended March 30, 2025 and March 24, 2024, we received $1.7 million and $2.1 million in distributions, respectively.
Madison Newspapers, Inc.
We have a 50% ownership interest in MNI, which publishes daily and Sunday newspapers, and other publications in Madison, Wisconsin, and other Wisconsin locations, and operates their related digital platforms. Net income or loss of MNI (after income taxes) is allocated equally to us and The Capital Times Company (“TCT”). MNI conducts its business under the trade name Capital Newspapers.
Summarized results of MNI are as follows:
Three months endedSix months ended
(Thousands of Dollars)March 30,
2025		March 24,
2024		March 30,
2025		March 24,
2024
Operating revenue9,079 9,822 18,838 20,424 
Operating expenses, excluding restructuring costs, depreciation and amortization7,013 7,636 14,468 15,446 
Restructuring costs23 48 23 109 
Depreciation and amortization90 120 180 240 
Operating income1,953 2,018 4,167 4,629 
Net income493 502 1,487 1,274 
Equity in earnings of MNI247 251 744 637 
MNI makes periodic distributions of its earnings and in the three months ended March 30, 2025 and March 24, 2024, we received $0.0 million and $0.2 million in distributions, respectively. In the six
months ended March 30, 2025 and March 24, 2024, we received distributions of $0.9 million and $0.6 million, respectively.