37 In March 2000, the company completed the acquisition of WJXX-TV, the ABC affiliate in Jacksonville, Fla. Gannett  continues to own and operate WTLV-TV, the NBC affiliate in Jacksonville. The aggregate purchase price, including liabilities assumed,  for businesses and assets acquired in 1999 including Newsquest, the Sacramento television station and certain smaller non-daily newspaper publishing operations, totaled approximately $1.8  billion. The Newscom, Thomson, Central and WJXX-TV acquisitions were recorded under the purchase method of accounting. In March 1999, the company contributed The San Bernardino County Sun to the California Newspapers Partnership in exchange for a partnership interest. The aggregate purchase price, including liabilities assumed,  for businesses and assets acquired in 2000, including Newscom, Thomson, Central, WJXX-TV and certain smaller newspaper publishing operations, totaled approximately $4.8 billion, of which $4.4 billion represents identified intangible assets and excess of acquisition cost over fair value of assets acquired.  The following table summarizes, on an unaudited, pro forma basis, the estimated combined results of operations of the com- pany and its subsidiaries as though the fiscal year 2000 acquisi- tions and dispositions noted above were made at the beginning of 2000. The 2001 transactions were not material for pro forma purposes. On this basis, these transactions would have resulted  in a pro forma decrease in income per diluted share from  continuing operations of $.12 in 2000. However, this pro forma combined statement does not necessarily reflect the results of operations as they would have been if the combined businesses had constituted a single entity during those years. The sale of the assets of the company’s cable division for  $2.7 billion was completed on Jan. 31, 2000. Upon closing, an after-tax gain of approximately $745 million or $2.77 per dilut- ed share was recognized which, along with the cable segment operating results, is reported as discontinued operations in the company’s financial statements.  In the fourth quarter of 2000, the company contributed the assets of its newspapers, the Marin Independent Journal and the Classified Gazette, to the California Newspapers Partnership  (a partnership that includes 20 daily California newspapers) in exchange for an increased ownership interest in the partnership. The company now has a 19.49% ownership interest in the  partnership. 1999: In July 1999, Gannett acquired the stock of Newsquest plc (“Newsquest”) for a total price of approximately 922 million British pounds (U.S. $1.5 billion). Gannett also financed the repayment of Newsquest’s existing debt. Newsquest’s principal activities are publishing and printing regional and local newspapers in England with a portfolio of more than 180 titles that include paid-for daily and weekly  newspapers and free weekly newspapers. The acquisition was recorded under the purchase method of accounting. In June 1999, the company completed a broadcast station  transaction under which it exchanged its ABC affiliate KVUE-TV  in Austin, Texas, and received KXTV-TV, the ABC affiliate in Sacramento, Calif., plus cash consideration. For financial  reporting purposes, the company recorded the exchange as two simultaneous but separate events; that is, a sale of its Austin TV station for which a non-operating gain was recognized and the acquisition of the Sacramento station accounted for under the purchase method. In its second quarter, the company reported a net non-operating gain of $55 million ($33 million after tax) principally as a result of this transaction. In millions, except per share amounts (pro forma and unaudited) Fiscal year 2001 2000 Operating revenues* $6,344 $6,902 Income before taxes* $1,371 $1,556 Income* $ 831 $ 940 Income per share* – Basic  $3.14 $3.53 Income per share* – Diluted $3.12 $3.51 *from continuing operations