Tribune Revenues Down 1% in May
Television
up 1%, fewer Cubs home games in May effects B&E
Publishing
down 1%, Retail and Help Wanted improve sequentially
CHICAGO, June 13, 2002 -- Tribune
Company (NYSE: TRB), one
of the country's premier media companies, operating businesses
in broadcasting, publishing and on the Internet, today reported
its summary of revenues and newspaper advertising volume for
period 5, ended May 26, 2002. Consolidated revenues for the
period were $429 million, down 1 percent from last year's
$432 million. Year-to-date, consolidated revenues are down
3%.
Publishing revenues in May decreased 1 percent
to $301 million, down from last year's $303 million. Advertising
revenue decreased 2 percent to $231 million, compared with
last year's $235 million. Total advertising inches decreased
3 percent in May, while preprint pieces were up 12 percent.
For May, retail advertising revenue increased
3 percent due to strength in the food, home furnishing and
other retail categories, which was partially offset by the
department store and electronics categories. Full run retail
lineage was down 5 percent. National advertising revenue declined
3 percent due to weakness in the hi-tech, financial and auto
manufacturers categories, partially offset by entertainment/movies;
full run national volume was down 2 percent. Classified advertising
revenue was down 7 percent, although help wanted continues
to show sequential improvement. Both auto and real estate
were up year-over-year, although the increases in May were
less than April. Full run classified volume was down 6 percent
for the period.
Broadcasting and Entertainment group revenues
decreased 3 percent to $122 million, compared with $125 million
in May 2001. Television revenue increased 1 percent in May
primarily due to an improving television advertising market,
partially offset by the absence of Dodgers baseball at KTLA
in Los Angeles, which would have added approximately 2 percent
to revenue. The rights to Dodgers telecasts expired after
the 2001 season and were not renewed. Radio/entertainment
revenues decreased 18 percent primarily due to fewer Cubs
home games in the period. Revenue at WGN Radio increased 22
percent.
Tribune Interactive revenues grew 39 percent
to $6 million in May, up from $5 million last year due to
strong growth in all ad categories.
Tribune executives will present at the Mid-Year
Media Review in New York City on Tuesday, June 18 at 1:00
p.m. EDT. A Webcast of the presentation will be available
through the Company's Web site, www.tribune.com,
or the Mid-Year Media Review's Web site, www.midyearmediareview.com.
Tribune will announce its second quarter
earnings on Thursday, July 18 before the market opens. Details
of the conference call and Webcast will be outlined soon.
:: :: ::
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.
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