Tribune Revenues Increased 3% in August
Publishing
revenues up 2%
Television
revenues up 12%
CHICAGO, September 19, 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 8, ended Sept. 1, 2002. Consolidated
revenues for the period were $415 million, up 3 percent from
last year’s $403 million. Year-to-date, consolidated
revenues are flat compared with last year.
Publishing revenues in August were $286 million,
2 percent higher than last year’s $279 million. Advertising
revenues increased 3 percent to $216 million, compared with
$210 million in August 2001. Excluding the recently acquired
Chicago magazine, advertising revenues increased 2 percent.
Total advertising inches were flat, while preprint pieces
were up 12 percent.
For August, retail advertising revenues increased
6 percent. Excluding Chicago magazine, retail advertising
increased 5 percent due to gains in most categories, including
electronics, home furnishings and food. Preprint revenues,
which are principally included in retail, were up 14 percent.
Full run retail linage was down 4 percent. National advertising
revenues rose 3 percent due to strength in the hi-tech, financial
and travel categories partially offset by declines in the
auto manufacturer category; full run national volume was down
5 percent. Classified advertising revenues decreased 1 percent.
Help wanted was down 17 percent, a sequential improvement
over last period, which was down 25 percent. The help wanted
decline was partially offset by increases in both auto and
real estate, which were up 8 percent and 7 percent, respectively.
Full run classified volume was down 1 percent for the period.
Broadcasting and Entertainment group revenues
increased 4 percent to $123 million, compared with $118 million
in August 2001. Television revenues increased 12 percent in
August. Excluding the recently acquired station in Indianapolis
(WTTV-TV), television revenues increased 10 percent. In Los
Angeles, KTLA-TV’s rights to Dodgers telecasts expired
after the 2001 season and were not renewed; Dodgers telecasts
would have added approximately 3 percent to television revenues.
Radio/entertainment revenues decreased 21 percent primarily
due to five less Cubs home games during the period.
Tribune Interactive revenues grew 29 percent
to $6.4 million in August, up from $4.9 million last year
due to strong growth in classifieds.
Tribune will announce its third quarter
earnings on Thursday, Oct. 17, before the market opens. Details
of the conference call and Webcast will be issued in an upcoming
press release.
:: :: ::
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 outlets include 24 television stations and 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
10-Q and 10-K that 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.
|
