Selected Quarterly Financial Data (unaudited)



Year ended June 30, 2017	First Quarter			Second Quarter			Third Quarter			Fourth Quarter			Total
(In thousands except per share data)
Revenues
National media	$	247,293		$	259,345		$	283,351		$	293,211		$	1,083,200
Local media	152,586			183,297			142,069			152,209			630,161
Total revenues	$	399,879		$	442,642		$	425,420		$	445,420		$	1,713,361
Operating profit
National media	$	24,111		$	46,757		$	41,314		$	34,359		$	146,541
Local media	50,622			76,815			41,164			46,319			214,920
Unallocated corporate	(13,971		)	(13,747		)	(12,450		)	(12,170		)	(52,338		)
Income from operations	$	60,762		$	109,825		$	70,028		$	68,508		$	309,123

Net earnings	$	33,973		$	71,805		$	39,781		$	43,369		$	188,928

Basic earnings per share	0.76			1.61			0.89			0.97			4.23

Diluted earnings per share	0.75			1.58			0.87			0.95			4.16

Dividends per share	0.495			0.495			0.520			0.520			2.030

In the second quarter of fiscal 2017, the Company recorded a reduction in contingent consideration payable of $19.6 million, a pre-tax restructuring charge of $8.1 million, and $1.7 million for the write-down of an investment.

In the third quarter of fiscal 2017, the Company recorded a reduction in contingent consideration payable of $1.1 million.

In the fourth quarter of fiscal 2017, the Company recorded a non-cash impairment charge of $5.3 million to fully impair the Mywedding trademark, a pre-tax restructuring charge of $4.3 million, the write-down of an investment of $1.9 million, the write-down to fair value of the Company's two airplanes of $0.9 million, and the reversal of excess restructuring reserves accrued in prior fiscal years of $1.8 million.

As a result of changes in shares outstanding during the year, the sum of the four quarters' earnings per share may not necessarily equal the earnings per share for the year.



Year ended June 30, 2016	First Quarter			Second Quarter			Third Quarter		Fourth Quarter			Total
(In thousands except per share data)
Revenues
National media	$	258,199		$	266,527		$	281,843	$	294,614		$	1,101,183
Local media	126,467			139,886			140,928		141,164			548,445
Total revenues	$	384,666		$	406,413		$	422,771	$	435,778		$	1,649,628
Operating profit (loss)
National media	$	22,803		$	33,583		$	34,781	$	(108,860	)	$	(17,693	)
Local media	29,327			40,441			46,150		42,563			158,481
Unallocated corporate	(23,118		)	(13,911		)	47,107		(20,257		)	(10,179		)
Income (loss) from operations	$	29,012		$	60,113		$	128,038	$	(86,554	)	$	130,609

Net earnings (loss)	$	11,029		$	32,519		$	80,904	$	(90,515	)	$	33,937

Basic earnings (loss) per share	0.25			0.73			1.81		(2.03		)	0.76

Diluted earnings (loss) per share	0.24			0.72			1.79		(2.03		)	0.75

Dividends per share	0.4575			0.4575			0.4950		0.4950			1.9050

In the first quarter of fiscal 2016, the Company recorded $12.7 million of merger-related expenses and a pre-tax restructuring charge of $3.4 million. Also in the first quarter, the Company recorded a reduction in contingent consideration payable of $1.4 million and $1.1 million in reversals of excess restructuring reserves accrued in prior fiscal years.

In the second quarter of fiscal 2016, the Company recorded $3.5 million of merger-related expenses and a pre-tax restructuring charge of $1.0 million.

In the third quarter of fiscal 2016, the Company received $60.0 million of cash in conjunction with the termination of the Media General merger. Also in the third quarter, the Company recorded a pre-tax restructuring charge of $3.5 million and recorded a reduction in contingent consideration payable of $1.8 million.

In the fourth quarter of fiscal 2016, the Company recorded an impairment of the goodwill of the national media segment of $116.9 million, the impairment of the American Baby trademark of $38.9 million, the write-down to fair value of the Company's two airplanes of $5.7 million, a pension settlement charge of $5.6 million, and a pre-tax restructuring charge of $2.4 million. Also in the fourth quarter, the Company recorded a reduction in contingent consideration payable of $3.2 million and $1.7 million in reversals of excess restructuring reserves accrued in prior fiscal years.

As a result of changes in shares outstanding during the year, the sum of the four quarters' earnings (loss) per share may not necessarily equal the earnings per share for the year.