Joint Operating Agreements and Partnerships

12 Months Ended

Dec. 31, 2011

Joint Operating Agreements and Partnerships [Abstract]

Joint Operating Agreements and Partnerships

7. Joint Operating Agreements and Partnerships

In connection with the February 2009 closure of the Rocky Mountain News, we transferred our 50% interest in Prairie Mountain Publishing -(“PMP”), a newspaper partnership with a subsidiary of MNG that operated certain of both companies’ other newspapers in Colorado, to MNG. Under the terms of the agreement we received a $5 million secured promissory note from MNG, which we have recorded at $4.4 million, the carrying value of the assets we gave up. We recorded no gain or loss on the transfer of our interest.