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Tribune Updates Business Progress
at Media Conference
Company
highlights broadcasting accomplishments, commitment to localism
and growth opportunities through scale
CHICAGO, September 11, 2003
-- Tribune Company (NYSE: TRB) executives
today provided an update on the company’s broadcast
business progress, reiterated its commitment to localism and
reviewed growth strategies at the Merrill Lynch Media and
Entertainment Conference in Pasadena, Calif.
"Competing in a fragmented media environment
requires the ability to adapt to local circumstances,"
said Pat Mullen, Tribune Broadcasting president. "Our
success is built upon providing compelling content for local
viewers, and scale is important in program acquisition and
other areas of cost control. With a strong focus on both these
aspects, we have a winning combination for growth at Tribune
Broadcasting."
Mullen noted that Tribune Broadcasting has
launched local news operations in six markets on newly acquired
stations and expanded news operations in six other markets.
For example, WPIX-TV (WB11), in New York launched and expanded
its successful morning operations. Today, WPIX morning news
beats CBS in the market and is competitive with the local
ABC, NBC and Fox affiliates which also air news in the time
period. Collectively, Tribune stations produce 200 hours of
local news programming each week.
Tribune’s national scale gives it an
advantage in attracting key syndicators and acquiring some
of the best off network sitcoms from its television group.
Yesterday the company announced that it has acquired syndication
rights for "Sex and the City," beginning in the
fall of 2005. In addition, Tribune will debut "The Sharon
Osbourne Show" in 22 markets beginning this Monday. The
new programming will further complement other popular syndicated
shows such as "Everybody Love Raymond," "Will
and Grace" and "Friends," which currently air
on Tribune stations.
Mullen stated that expenses have leveled out
as Tribune stations have cycled through early season hits.
He expects to see a slight decline in programming expenses
in the fourth quarter and in 2004.
An archive of today’s presentation will
be available on the Tribune Company Web site at www.tribune.com
for four weeks.
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TRIBUNE (NYSE: TRB) is one of the country’s
premier media companies, operating businesses in broadcasting
and publishing. 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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