content_image/81029.jpg content_image/81033.jpg content_image/81027.jpg content_image/81032.jpg content_image/81025.jpg
Corporation and closed October 1, 2000. The net proceeds are approximately $565,000,000, resulting in an after-tax gain for financial reporting purposes of approximately $250,000,000. The results for the Broadcast operations have been classified as discontinued operations for all periods presented in the consoli- dated statements of income. The assets and liabilities of discon- tinued operations have been classified in the consolidated balance sheet as “net assets of discontinued operations” as of September 30, 2000. 

The income from discontinued operations consists of the following: 

<img src='content_image/81029.jpg'>

As of September 30, 2000, the assets and liabilities of the Broadcast division consisted of the following: 

<img src='content_image/81033.jpg'>

## NOTE 3: 

## Acquisitions and Dispositions of Publishing Properties 

On October 1, 1999, the Company acquired a daily newspaper and specialty publications in Beatrice, Nebraska, and received $9,300,000 of cash in exchange for all the assets used in, and liabilities related to, the publication, marketing, and distribution of two daily newspapers and the related specialty and classified publications in Kewanee, Geneseo, and Aledo, Illinois, and Ottumwa, Iowa. 

In addition, the Company acquired three daily newspapers, eleven weekly newspapers, and fifteen classified or specialty publications in 2000, one daily newspaper, two weekly, and four classified or specialty publications in 1999, and five classified or specialty publications and one commercial printer in 1998. 

All acquisitions were accounted for as a purchase and the results of operations since the date of acquisition are included in the consolidated financial statements. These acquisitions and dispositions had the effect of increasing revenue and operating income by approximately $8,300,000 and $150,000, respectively, for the year ended September 30, 2000, as compared to the prior year. 

The purchase price of business acquisitions was allocated as follows: 

<img src='content_image/81027.jpg'>

Proceeds of the sale of properties consisted of the following: 

<img src='content_image/81032.jpg'>

## NOTE 4: 

## Investments in Associated Companies 

The Company has a 50% ownership interest in Madison News- papers, Inc., a newspaper company that publishes daily, Sunday, and weekly publications in Madison and three other daily newspa- pers, seven weekly publications and various other classified publi- cations in Wisconsin and interest in Internet service ventures. 

Summarized financial information of Madison Newspapers, Inc., is as follows: 

<img src='content_image/81025.jpg'>

