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Tribune Updates Business
Strategy at Media Conference
Company Emphasizes “Local” Advantage,
Expansion of Hoy
CHICAGO, March 8, 2004 -- Tribune
Company (NYSE:TRB) updated the company’s major market
media strategy today at the Bear Stearns Media, Entertainment
and Information conference. Chairman, president and chief
executive officer Dennis FitzSimons said the company’s
newspapers and television stations provide a unique blend
of scale and localism that gives Tribune an edge over its
competitors.
"First, we have great businesses with
a major market footprint -- advertisers have to be there,"
said FitzSimons. "Second, while there are more ways
than ever before for advertisers to reach consumers on a
national level, there are far fewer options on a local level.
At Tribune, we can do both -- we call it national reach
and local touch."
FitzSimons pointed to the expansion
of the company’s
Spanish-language daily Hoy into the nation’s top three
markets as a key part of Tribune’s strategy.
"One-third of all Hispanics live in the
New York, Chicago and Los Angeles metropolitan areas, and
Hoy is the only Spanish-language daily published in all three
of those markets," said FitzSimons. "We’re
especially well-positioned to win in L.A. because Hoy will
be very different from the competition, with four zoned editions
for L.A., Orange County/Long Beach, San Fernando, and San
Gabriel/Inland Empire."
FitzSimons also highlighted recent trends
in help wanted advertising at the company’s 14 daily
newspapers. On a percentage basis, help wanted advertising
revenue in February increased in the mid-teens compared
to the same time period last year.
The full text of FitzSimons’ remarks
at the conference will be available on the Tribune Company
Website, www.tribune.com.
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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 organization with television stations,
newspapers and websites in the nation's top three markets.
In publishing, Tribune operates 14 leading daily newspapers
including the Los Angeles Times , Chicago Tribune,
Newsday and Spanish-language Hoy , plus a wide
range of targeted publications. The company's broadcasting
group operates 26 television stations; Superstation WGN on
national cable; WGN-AM in Chicago; and the Chicago Cubs baseball
team. Popular news and information websites complement Tribune's
print and broadcast properties and extend the company's nationwide
audience. |
