Tribune Revenues Up 4% in July
Advertising
improvement continues
Television
revenue up 10%
CHICAGO, August 22, 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 7, ended Aug. 4, 2002. Consolidated revenues
for the period were $490 million, up 4 percent from last year’s
$470 million. Year-to-date, consolidated revenues are down
1 percent.
Publishing revenues in July were $339 million,
even with last year. Advertising revenue was $255 million,
also even with last year. Total advertising inches were flat,
while preprint pieces were up 6 percent.
For July, retail advertising revenue increased
5 percent due to strength in most categories, including department
stores, home furnishings and food. Full run retail linage
was down 4 percent. National advertising revenue rose 5 percent
due to strength in the entertainment and high-tech categories,
partially offset by declines in the financial, travel and
resorts categories; full run national volume was down 1 percent.
Classified advertising revenue was down 8 percent, with help
wanted down 25 percent, auto up six percent and real estate
was flat. Full run classified volume was down 5 percent for
the period. Classified comparisons with the prior year were
tougher in July than in recent months.
Broadcasting and Entertainment group revenues
increased 14 percent to $145 million, compared with $126 million
in July 2001. Television revenue increased 10 percent in July
with revenue growth at all of Tribune’s television stations,
except KTLA-TV in Los Angeles. KTLA’s rights to Dodgers
telecasts expired after the 2001 season and were not renewed;
Dodgers telecasts would have added approximately 2 percent
to revenue. Radio/entertainment revenues increased 30 percent
primarily due to six more Cubs home games in the period. Revenue
at WGN Radio increased 16 percent.
Tribune Interactive revenues grew 46 percent
to $7.1 million in July, up from $4.9 million last year due
to strong growth in all advertising categories.
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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.
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