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Tribune Revenues Increase
2.8% in July
Publishing revenues
up 1.8%
Television revenues
up 6.0%
CHICAGO, August 18, 2004 -- Tribune
Company (NYSE: TRB) today reported its summary of revenues
and newspaper advertising volume for period 7, ended August
1, 2004. Consolidated revenues for the period were
$523 million, up 2.8 percent from last year's $508 million.
Publishing revenues in July were $362 million,
1.8 percent higher than last year's
$356 million. Advertising revenues increased 2.6 percent to $278 million, compared
with $271 million in July 2003. Total advertising inches were up 5 percent,
while preprint pieces increased 17 percent.
Retail, national and classified advertising revenues discussed
below include both print and interactive revenues for 2004
and 2003.
- Retail advertising revenues
grew 3.3 percent due to strength in the home furnishings,
food, department stores and other retail categories.
Preprint revenues, which are principally included in retail,
were up 12 percent. Full run retail linage was up 6 percent
in the period.
- National advertising revenues
decreased 1.7 percent as weakness in the hi-tech and
travel/resorts categories was partially offset by strength
in auto manufacturers, entertainment/movies and financial
categories. Full run national volume was up 2 percent.
- Classified advertising
revenues rose 4.6 percent due to gains in help wanted
and real estate, which were up 11 percent and 9 percent,
respectively. Auto classified advertising fell 2 percent.
Full run classified volume was down 1 percent in the period.
Interactive revenues, which are primarily included in classified,
were $11 million, up 33 percent, due to strength in all
categories.
Broadcasting and Entertainment group revenues in July rose
5.2 percent to $160 million, compared with $152 million last
year. Television revenues increased 6.0 percent as strength
in the financial, telecom and education categories was partially
offset by decreases in movies and tourism. August is weaker,
as advertisers are avoiding going up against the Olympics;
as a result, third quarter television revenues are expected
to be up in the low single digits. Radio/entertainment revenues
rose 3.0 percent in July on baseball related increases.
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This press release contains
certain comments 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.
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TRIBUNE (NYSE: TRB) is one of the
country's top 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. |
