back | home

Press Release

Publishing revenues up 5%

Television revenues up 19%

CHICAGO, November 12, 2002 -- Tribune Company (NYSE: TRB) today reported its summary of revenues and newspaper advertising volume for period 10, ended Oct. 27, 2002. Consolidated revenues for the period were $435 million, up 6 percent from last year’s $410 million. Year-to-date, consolidated revenues are up 1 percent compared with last year.

Publishing revenues in October were $312 million, 5 percent higher than last year’s $298 million. Advertising revenues increased 6 percent to $239 million, compared with $225 million in October 2001. Total advertising inches were up 1 percent, while preprint pieces grew 15 percent. The following results include the recently acquired Chicago magazine.

• Retail advertising increased 7 percent due to gains in most categories, including department stores, home furnishings and food. Preprint revenues, which are principally included in retail, were up 16 percent. Full run retail linage was down 4 percent.
  
• National advertising rose 12 percent due to strength in the movie/entertainment, auto manufacturers, travel and financial categories partially offset by declines in the hi-tech category; full run national volume was up 7 percent.
  
• Classified advertising rose 1 percent. Help wanted was down 8 percent, a sequential improvement over last period, which was down 16 percent. The help wanted decline was offset by increases in both auto and real estate, which were up 5 percent and 4 percent, respectively. Full run classified volume was down 4 percent for the period.

Broadcasting and Entertainment group revenues increased 11 percent to $117 million, compared with $106 million in October 2001. Television revenues increased 19 percent. Excluding WTTV-TV in Indianapolis, which was acquired in July 2002, television revenues increased 18 percent. Radio/entertainment revenues decreased 37 percent primarily due to six fewer Cubs games in the period this year and the completion of the sale of two of the three Denver radio stations as part of the WTTV-TV acquisition.

Tribune Interactive revenues grew 13 percent to $6.3 million in October, up from $5.5 million last year due to strong growth in classifieds. The revenue growth rate reflects tougher comparisons from 2001 as CareerBuilder sales increased significantly in the fourth quarter of last year following the acquisition of HeadHunter.

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.

:: :: ::

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 span 24 television stations including national “superstation” WGN-TV; 12 market-leading daily newspapers such as the Los Angeles Times, Chicago Tribune and Newsday; and news and information Web sites in 18 of the nation’s top 30 markets.