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Tribune Revenues Increase
2.0% in August
Publishing revenues
up 2.4%
Television revenues
down 4.2% CHICAGO, September 15, 2004 -- Tribune
Company (NYSE: TRB) today reported its summary of revenues
and newspaper advertising volume for period 8, ended August
29, 2004. Consolidated revenues for the period were $432
million, up 2.0 percent from last year's $423 million.
Publishing revenues in August were $303 million, 2.4 percent
higher than last year's
$296 million. Advertising revenues increased 3.0 percent to $233 million, compared
with $226 million in August 2003. Total advertising inches were up 4 percent,
while preprint pieces increased 14 percent.
Retail, national and classified advertising revenues discussed
below include both print and interactive revenues for 2004
and 2003.
- Retail advertising revenues
decreased 0.8 percent due to weakness in the department
stores and other retail categories, partially offset
by strength in the food, home furnishings and electronics
categories. Preprint revenues, which are principally
included in retail, were up 5 percent. Full run retail
linage was up
3 percent in the period.
- National advertising revenues
grew 3.9 percent on strength in the movies/entertainment,
auto manufacturers and financial categories. Full run
national volume was up 11 percent.
- Classified advertising
revenues rose 7.1 percent due to gains in help wanted
and real estate, which were up 20 percent and 18 percent,
respectively. Auto classified advertising fell 9 percent.
Full run classified volume was down
4 percent in the period. Interactive revenues, which
are primarily included in classified, were $11 million,
up 35 percent, due to strength in all categories.
Broadcasting and Entertainment
group revenues in August rose 1.2 percent to $129 million,
compared with $127 million last year. Television revenues
decreased 4.2 percent against Olympic competition. Weakness
in autos, movies and retail was partially offset by increases
in telecom and education. Radio/entertainment revenues rose
23.4 percent in August on baseball related increases. September
television revenues are softer than anticipated as political
advertising is benefiting only certain "swing" markets; third
quarter TV ad revenues are expected to be flat versus last
year.
Due to lower-than-anticipated revenues in
publishing and broadcasting, third quarter diluted earnings
per share will be in the range of $.49 to $.51. This estimate
assumes that non-operating items are not material in the
quarter and excludes the impact of charges related to Newsday and Hoy, New
York.
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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
annual 10-K report and quarterly 10-Q report, which 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, or for changes made to this document by wire services
or Internet service providers.
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, Chicago 's WGN-AM 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. |
