| 
Tribune Revenues Increased 2.0% in
August
Publishing
revenues up 1.3%
Television
revenues up 3.7%
CHICAGO, September 16, 2003
-- Tribune Company (NYSE: TRB) today reported
its summary of revenues and newspaper advertising volume for
period 8, ended
Aug. 31, 2003. Consolidated revenues for the period were $423
million, up 2.0 percent from last year’s $415 million.
Publishing revenues in August were $296 million, 1.3 percent
higher than last year’s
$293 million. Advertising revenues increased 1.7 percent to
$226 million, compared with $223 million in August 2002. Total
advertising inches were up 1 percent, while preprint pieces
were flat with last year.
- Retail advertising revenues decreased 1
percent due to declines in food, home furnishing and other
retail, partially offset by increases in electronics. Preprint
revenues, which are principally included in retail, were
up 3 percent. Full run retail linage was down 4 percent.
- National advertising revenues rose 11 percent
due to strength in high tech, auto manufacturers, entertainment/movies
and financial, partially offset by travel/resorts; full
run national volume was up 14 percent.
- Classified advertising revenues decreased
1 percent due to softness in help wanted, which was down
10 percent. Auto and real estate were up 2 percent and
11 percent, respectively. Full run classified volume was
up 1 percent in the period.
- Interactive advertising revenues have been
reclassified into the appropriate revenue categories within
publishing: retail, national and classified. Interactive
revenues were $8 million, up 23 percent for the period and
$60 million, up 16 percent for the year-to-date due mainly
to gains in classifieds. The attached tables reflect this
presentation for both 2003 and 2002.
Broadcasting and Entertainment group revenues
increased 3.9 percent to $127 million, compared with $123
million in August 2002. Television revenues increased 3.7
percent. Excluding WTTV-Indianapolis, acquired in July 2002,
and KPLR in St. Louis and KWBP in Portland, both acquired
in March 2003, television revenues were flat. Radio/Entertainment
revenues improved 4.6 percent primarily due to increases at
Tribune Entertainment and the Chicago Cubs.
The Company anticipates that its full year
2003 diluted earnings per share will be within the range of
current analyst estimates of $2.06 to $2.20. This assumes
that non-operating items for the year are not material.
:: :: ::
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
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 13 leading daily newspapers including
the Los Angeles Times, Chicago Tribune, Newsday and Spanish-language
Hoy, plus a wide range of targeted publications. 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.
|
