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Tribune Revenues Increased 5% in January
Publishing revenues
up 3%
Television revenues
up 12%
CHICAGO, February 18, 2003 --
Tribune Company (NYSE: TRB)
today reported its summary of revenues and newspaper advertising
volume for period 1, ended
Feb. 2, 2003. Consolidated revenues for the period were $467
million, up 5 percent from last year’s $446 million.
- Publishing revenues in January were $353
million, 3 percent higher than last year’s
$342 million. Advertising revenues increased 4 percent to
$266 million, compared with $256 million in January 2002.
Total advertising inches were up 3 percent, while preprint
pieces grew 9 percent. The following results include Chicago
magazine, which was acquired in July 2002.
- Retail advertising increased 3 percent
due to gains in most categories, including food, home furnishings,
department stores and other retail advertising. Preprint
revenues, which are principally included in retail, were
up 10 percent. Full run retail linage was down 5 percent.
- National advertising rose 13 percent
due to strength in the high-tech, travel/resort, auto manufacturer
and financial categories; full run national volume was up
10 percent.
- Classified advertising decreased 2
percent, due to softness in help wanted, which was down
11 percent. The help wanted decline was partially offset
by increases in both auto and real estate, which were up
3 percent and 6 percent, respectively. Full run classified
volume was up 1 percent for the period.
Broadcasting and Entertainment group revenues
increased 10 percent to $107 million, compared with $97 million
in January 2002. Television revenues increased 12 percent.
Excluding WTTV-TV in Indianapolis, which was acquired in July
2002, television revenues increased 10 percent. Radio/entertainment
revenues decreased 10 percent primarily due to the divestiture
of two of the three Denver radio stations as part of the
WTTV-TV acquisition.
Tribune Interactive revenues grew 8 percent
to $6.9 million in January, up from
$6.4 million last year due to strength in classified and national
advertising.
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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. In publishing, Tribune operates 12 market-leading
daily newspapers such as the Los Angeles Times, Chicago Tribune
and Newsday plus a wide range of targeted publications including
Spanish-language newspapers. In broadcasting, Tribune properties
include 24 television stations and Superstation WGN on national
cable. The acquisition of two additional stations, KPLR-TV,
St. Louis, and KWBP-TV, Portland, Ore., will be completed
in early 2003, pending regulatory approvals. These publishing
and broadcasting interests are complemented by high-traffic
news and information Web sites in 18 of the nation’s
top 30 markets.
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