N. Summary of Quarterly Operating Results (Unaudited)

Quarterly results of operations for the years ended December 28, 1997, and December 29, 1996, are as follows (in thousands, except per share amounts):


FirstSecondThirdFourth
QuarterQuarterQuarterQuarter

1997
Operating revenues
Advertising$278,528$327,949$286,074$344,326
Circulation and subscriber123,674128,901134,238132,807
Other51,899
44,525
58,063
45,269
454,101
501,375
478,375
522,402
Operating costs and expenses
Operating243,504246,478253,565276,322
Selling, general, and administrative106,886118,875107,186117,049
Depreciation and amortization of property, plant, and equipment17,79017,87118,00717,810
Amortization of goodwill and other intangibles7,953
8,214
8,382
9,010
376,133
391,438
387,140
420,191
Income from operations77,968109,93791,235102,211
Other income (expense)
Equity in earnings of affiliates1253,3314,7121,787
Interest income1,1121,079725554
Interest expense(165)(158)(182)(747)
Other income (expense), net(846)
1,668
23,471
45,257
Income before income taxes 78,194115,857119,961149,062
Provision for income taxes30,500
44,500
48,410
58,090
Net income47,69471,35771,55190,972
Redeemable preferred stock dividends(478)
(239)
(239)
0
Net income available for common stock$ 47,216
$ 71,118
$ 71,312
$ 90,972
Basic earnings per common share$ 4.35
$ 6.62
$ 6.66
$ 8.66
Diluted earnings per common share$ 4.35
$ 6.60
$ 6.64
$ 8.63
Basic average number of common shares outstanding10,84410,74410,70810,502
Diluted average number of common shares outstanding10,86610,77210,74310,544


FirstSecondThirdFourth
QuarterQuarterQuarterQuarter

1996
Operating revenues
Advertising$252,807$310,459$274,719$334,720
Circulation and subscriber117,070121,488124,916127,498
Other46,742
40,905
60,691
41,430
416,619
472,852
460,326
503,648
Operating costs and expenses
Operating242,482253,639245,763265,173
Selling, general, and administrative100,792100,562103,937108,988
Depreciation and amortization of property, plant, and equipment16,16016,00415,97916,960
Amortization of goodwill and other intangibles6,985
7,162
7,427
8,262
366,419
377,367
373,106
399,383
Income from operations50,20095,48587,220104,265
Other income (expense)
Equity in earnings of affiliates7,3537,8072,5372,005
Interest income1,2241,1751,3581,602
Interest expense(1,083)(139)(168)(124)
Other income (expense), net2,867
(689)
(53)
(2,625)
Income before income taxes60,561103,63990,894105,123
Provision for income taxes23,619
40,421
35,503
39,857
Net income36,94263,21855,39165,266
Redeemable preferred stock dividends(202)
--
(478)
--
Net income available for common shares$ 36,740
$ 63,218
$ 54,913
$ 65,266
Basic earnings per common share$ 3.34
$ 5.76
$ 5.01
$ 5.97
Diluted earnings per common share$ 3.34
$ 5.76
$ 5.00
$ 5.96
Basic average number of common shares outstanding10,99710,97010,95710,931
Diluted average number of common shares outstanding11,01110,97010,97510,953