Tribune Pro Forma Revenues Up 2% in
Period 1
Reports January pro forma
revenues and advertising volume
CHICAGO, March 2, 2001 -- Tribune
Company (NYSE: TRB) reported today its pro forma summary of
revenues and newspaper advertising volume for period 1, ended
Feb. 4, 2001. Consolidated revenues for the period were $480
million, up 2 percent from last year's $469 million, on a
pro forma basis.
Tribune and Times Mirror began their respective
fiscal years on different days last year, resulting in the
seven newly acquired newspapers having five extra days in
the January 2001 period. Excluding the extra days, as well
as copyright royalties and television station acquisitions,
pro forma consolidated revenues decreased 1 percent from last
year for the January period.
Tribune's publishing and interactive revenues
and newspaper advertising volume are reported on a pro forma
basis, which assumes that the Times Mirror acquisition occurred
at the beginning of 2000.
Publishing revenues increased 5 percent in
January to $373 million, up from last year's $357 million,
on a pro forma basis. Excluding the extra days for the newly
acquired newspapers, pro forma publishing revenues were flat
year-over-year. Pro forma total advertising inches decreased
3 percent, while preprint pieces increased 14 percent.
For the January 2001 period, pro forma retail
advertising revenue gained 12 percent due to strong preprints
and special products. Full run retail volume was flat. Pro
forma national ad revenue was up 1 percent, even as full run
national volume dropped 10 percent. Weakness in dot.com and
financial categories was mostly offset by an increase in advertising
rates. Pro forma classified advertising revenue was flat year-over-year
as lower help wanted was offset by gains in real estate. Full
run classified volume increased 3 percent. Excluding the extra
days, pro forma ad revenue for retail grew 6 percent, national
declined 5 percent and classified fell 3 percent.
Broadcasting and Entertainment group revenues
decreased 6 percent to $103 million, down from $109 million
in January 2000. Television revenues decreased 6 percent in
January; excluding acquisitions in Atlanta (WATL) and New
Orleans (WNOL), television revenues decreased 10 percent.
The period was impacted by difficult comparisons against last
January, when same station TV revenues increased 23 percent.
The period also included copyright royalties of $5.8 million
in 2001 versus $10.6 million last year; excluding these royalties,
same station TV revenues declined 6 percent.
Tribune Interactive pro forma revenues grew
29 percent to $4.9 million in January, up from $3.8 million
last year largely due to strong growth in classified.
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TRIBUNE (NYSE:
TRB) is one of the country's premier media companies,
operating businesses in broadcasting, publishing and on the
Internet. It reaches more than 80 percent of U.S. households,
and is the only media company with television stations, newspapers
and Web sites in the nation's top three markets. Tribune media
span 23 major-market television stations, including national
superstation WGN-TV; 12 market-leading daily newspapers, including
the Los Angeles Times, Chicago Tribune and Newsday; and news
and information Web sites in 18 of the nation's top 30 markets.
This press release contains certain comments
or forward-looking statements that are based largely on the
company's current expectations and are subject to certain
risks, trends and uncertainties. Such comments and statements
should be understood in the context of Tribune's publicly
available reports filed with the SEC, including the most current
annual report, 10-K and 10-Q, which contain a discussion of
various factors that may affect the company's business. These
factors could cause actual future performance to differ materially
from current expectations.
Tribune Company is not responsible for
updating the information contained in this press release beyond
the published date, or for changes made to this document by
wire services or Internet service providers. |
