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Tribune Revenues Increased 6% in May
Publishing
revenues up 3%
Television
revenues up 12%
CHICAGO, June 16, 2003 --
Tribune Company (NYSE: TRB) today reported its summary of
revenues and newspaper advertising volume for period 5, ended
May 25, 2003. Consolidated revenues for the period were $452
million, up 6 percent from last year’s $429 million.
Publishing revenues in May were $317 million, 3 percent higher
than last year’s
$307 million. Advertising revenues increased 3 percent to
$245 million, compared with $237 million in May 2002. Total
advertising inches were up 3 percent, while preprint pieces
grew 4 percent.
- Retail print advertising revenues increased
3 percent due to gains in most categories, led by department
stores and home furnishing, which were partially offset
by a decrease in electronics and food. Preprint revenues,
which are principally included in retail, were up 9 percent.
Full run retail linage was down
2 percent.
- National print advertising revenues rose
13 percent due to strength in high-tech (telecommunications
and computers), auto manufacturers, financial and entertainment;
full run national volume was up 13 percent.
- Classified print advertising revenues decreased
3 percent, due to softness in help wanted, which was down
17 percent. Auto and real estate were up 1 percent and
16 percent, respectively. Full run classified volume was
up 3 percent in the period.
- Interactive revenue increased 12 percent
due mainly to gains in classified.
Broadcasting and Entertainment group revenues
increased 11 percent to $136 million, compared with $122 million
in May 2002. Television revenues increased 12 percent. Excluding
WTTV-Indianapolis, which was acquired in July 2002, and KPLR
in St. Louis and KWBP in Portland, both acquired in March
2003, television revenues increased 7 percent due to improved
advertising market conditions. Radio/Entertainment/Other revenues
improved 7 percent primarily due to an increase at Tribune
Entertainment.
For the second quarter, the company expects
earnings per share to be within the range of analysts’
estimates of $.54 to $.60. As previously stated, consolidated
operating expenses in the first half of 2003 will be up in
the mid-single digit range, decreasing to the low-single digits
in the second half of the year.
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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 26 television stations and Superstation WGN on national
cable. These publishing and broadcasting interests are complemented
by high-traffic news and information Web sites in 20 of the
nation’s top 30 markets.
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