Tribune Pro Forma Revenues Down 5%
Year-to-Date
Reports April pro forma
revenue and advertising volume
CHICAGO, May 17, 2001 -- Tribune
Company (NYSE: TRB) reported today its pro
forma summary of revenues and newspaper advertising volume
for period 4, ended April 29, 2001. Consolidated revenues
for the period were $410 million, down 11 percent from last
year's $459 million, on a pro forma basis. Year-to-date consolidated
revenues were down 5 percent to $1.7 billion, from $1.8 billion
during the same period in 2000.
Tribune's publishing and interactive revenue
and newspaper advertising volume for 2000 are reported on
a pro forma basis, which assumes that the Times Mirror acquisition
occurred at the beginning of 2000.
Publishing revenues decreased 10 percent in
April to $296 million, down from last year's $330 million.
Year-to-date publishing revenues were down 4 percent. Total
advertising inches decreased 5 percent in April and 3 percent
year-to-date. Preprint pieces were down 15 percent in April
and on a year-to-date basis decreased 1 percent.
For the April 2001 period, retail advertising
revenue decreased 9 percent due to lower electronics, department
stores and food and drug stores. Full run retail volume was
down 6 percent in April. National ad revenue was down 19 percent
from weakness in dot.com, financial and entertainment/movies,
as full run national volume declined 24 percent. Classified
advertising revenue was down 16 percent on lower help wanted
partially offset by higher real estate. Full run classified
volume was down 10 percent for the period.
Broadcasting and Entertainment group revenues
decreased 12 percent to $109 million, down from $125 million
in April 2000. Year-to-date broadcasting and entertainment
revenues were down 8 percent to $399 million, compared with
$436 million in 2000. Television revenues decreased 14 percent
in April. The period was impacted by difficult comparisons
against last April, when same station TV revenues increased
12 percent.
Tribune Interactive revenues grew 22 percent
to $4.3 million in April, up from $3.5 million last year largely
due to strong growth in classified. Year-to-date interactive
revenues increased 31 percent to $18.0 million, up from $13.8
million in 2000.
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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. |
