Tribune Reports Revenue Down 6%
Year-to-date pro forma
revenues decline 6%
CHICAGO, August 22, 2001 -- Tribune
Company (NYSE: TRB) reported
today its summary of revenues and newspaper advertising volume
for period 7, ended Aug. 5, 2001. Consolidated revenues for
the period were $470 million, down 6 percent from last year's
$500 million. Year-to-date consolidated revenues were down
6 percent to $3.1 billion, from a pro forma $3.3 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 only for year-to-date comparisons. Pro forma
results assume that the Times Mirror acquisition occurred
at the beginning of 2000.
Publishing revenues decreased 6 percent in
July to $339 million, down from last year's $360 million.
Year-to-date publishing revenues were also down 6 percent.
Total advertising inches decreased 5 percent in July and 6
percent year-to-date. Preprint pieces were up 3 percent in
July and on a year-to-date basis increased 5 percent.
For the July 2001 period, retail advertising
revenue decreased 6 percent, as the department store, electronics,
home improvements and hardware categories all declined. Full
run retail volume was down 4 percent in July. National ad
revenue was down 2 percent because of the weakness in high
technology and financial advertising categories, as full run
national volume declined 13 percent. Classified advertising
revenue was down 16 percent due primarily to a decline in
the help wanted category. Full run classified volume was down
4 percent for the period.
Broadcasting and Entertainment group revenues
decreased 6 percent to $126 million, down from $135 million
in July 2000. Year-to-date broadcasting and entertainment
revenues were down 7 percent to $804 million, compared with
$865 million in 2000. Television revenues decreased 8 percent
in July.
Tribune Interactive revenues grew 17 percent
to $4.9 million in July, up from $4.1 million last year due
to strong growth in classified. Year-to-date interactive revenues
increased 26 percent to $33 million, up from $26 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. |
