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Tribune Outlines Market Media Strategy
at Goldman Sachs Communacopia Conference
Company president, FitzSimons,
highlights value of local media franchises
Publishing initiatives
in preprint advertising, online recruiting outlined
CHICAGO, October 4, 2001 -- Tribune
Company (NYSE: TRB) today
elaborated on its business strategy at the Goldman Sachs Communacopia
Conference in New York City. Tribune's President and Chief
Operating Officer Dennis FitzSimons addressed the value of
the company's local media franchises, recent initiatives in
the company's publishing operations, and the strength of its
broadcast division.
"Advertisers are returning, and consumers
seem to be receptive," said FitzSimons. "What we're
seeing is what we usually see in difficult times-advertisers
are using media that work, media that gives them a quantifiable
return on their investment. And that frequently means local
media-trusted brands with strong credibility. Tribune has
some of the strongest local media franchises in the country."
FitzSimons focused on Tribune's proven business
models, solid free cash flow, and sustainable competitive
advantages. "Tribune delivers all three," he said.
FitzSimons also outlined several recent initiatives in the
company's publishing division designed to grow revenues in
key areas like retail preprint advertising and classified
advertising.
Tribune expects to improve its preprint market
share particularly in Los Angeles and Chicago. The company
just approved a new insertion facility at the Los Angeles
Times that will improve its zoning capabilities, enable later
deadlines and faster delivery. In the next several years,
Tribune Publishing expects to generate about $75 million in
new preprint revenue in Los Angeles and Chicago.
Tribune also expects to grow revenues in classified
advertising through its partnership with Knight Ridder in
the online recruitment business CareerBuilder. CareerBuilder
just announced its acquisition of HeadHunter.net, combining
the number 2 and 3 online recruitment companies. This past
Sunday, Tribune and Knight Ridder debuted new CareerBuilder-branded
"help-wanted" sections in the Chicago Tribune, Los
Angeles Times, Newsday, The Philadelphia Inquirer, Miami Herald,
and in several other Tribune and Knight Ridder newspapers.
Tribune Broadcasting remains solid, said FitzSimons.
"Our fall programming line-ups look good," he said.
"Our syndicated line-ups in early evening and late night
are also strong, with the return of "Friends" and
the debut of the off-network hit "Everybody Loves Raymond."
The full text of FitzSimons' remarks and his
presentation is available at www.tribune.com.
:: :: ::
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, nor for changes made to this document
by wire services or Internet service providers. More information
on Tribune is available on the Internet at www.tribune.com. |
