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Discontinued Operations
 12 Months Ended
Dec. 25, 2016
Discontinued Operations and Disposal Groups [Abstract]  
Discontinued Operations
Discontinued Operations
New England Media Group
In the fourth quarter of 2013, we completed the sale of substantially all of the assets and operating liabilities of the New England Media Group — consisting of The Boston Globe, BostonGlobe.com, Boston.com, the T&G, Telegram.com and related properties — and our 49% equity interest in Metro Boston, for approximately $70.0 million in cash, subject to customary adjustments. The net after-tax proceeds from the sale, including a tax benefit, were approximately $74.0 million. In 2013, we recognized a pre-tax gain of $47.6 million on the sale ($28.1 million after tax), which was almost entirely comprised of a curtailment gain. This curtailment gain was primarily related to an acceleration of prior service credits from retiree medical plan amendments announced in prior years, and was due to a cessation of service for employees at the New England Media Group. Post-closing adjustments in 2014 resulted in a loss of $0.3 million. In the fourth quarter of 2016, we recorded a charge of $3.7 million ($2.3 million after tax) in connection with the settlement of litigation involving NEMG T&G, Inc., a subsidiary of the Company that was part of the New England Media Group. The results of operations of the New England Media Group have been classified as discontinued operations for all periods presented.
About Group
In the fourth quarter of 2012, we completed the sale of the About Group, consisting of About.com, ConsumerSearch.com, CalorieCount.com and related businesses, to IAC/InterActiveCorp. for $300.0 million in cash, plus a net working capital adjustment of approximately $17.0 million. The sale resulted in a pre-tax gain of $96.7 million ($61.9 million after tax) in 2012. The net after-tax proceeds from the sale were approximately $291.0 million. In the fourth quarter of 2014, there was a legal settlement that resulted in a loss of $0.2 million. The results of operations of the About Group, which had previously been presented as a reportable segment, have been classified as discontinued operations for 2014.
Regional Media Group
In the first quarter of 2012, we completed the sale of the Regional Media Group, consisting of 16 regional newspapers, other print publications and related businesses, to Halifax Media Holdings LLC for approximately $140.0 million in cash. The net after-tax proceeds from the sale, including a tax benefit, were approximately $150.0 million. The sale resulted in an after-tax gain of $23.6 million (including post-closing adjustments recorded in the second and fourth quarters of 2012 totaling $6.6 million). In the fourth quarter of 2014, there was an environmental contingency that resulted in a loss of $0.4 million. The results of operations for the Regional Media Group have been classified as discontinued operations for 2014.
The results of operations for the New England Media Group, About Group and the Regional Media Group presented as discontinued operations are summarized below for 2016 and 2014. There were no discontinued operations in 2015.
 
Year ended December 25, 2016

 
Year ended December 28, 2014
(In thousands)
New England Media Group
 
New England Media Group
About Group
Regional Media Group
Total
Income/(loss) from discontinued operations, net of income taxes
 
 
 
 
 
 
Loss on sale, net of income taxes:
 
 
 
 
 
 
Loss on sale
$
(3,651
)
 
$
(349
)
$
(229
)
$
(397
)
$
(975
)
Income tax (benefit)/expense
(1,378
)
 
(127
)
(93
)
331

111

Loss on sale, net of income taxes
(2,273
)
 
(222
)
(136
)
(728
)
(1,086
)
Loss from discontinued operations, net of income taxes
$
(2,273
)
 
$
(222
)
$
(136
)
$
(728
)
$
(1,086
)