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Tribune
Revenues Down 2.2% in April
Publishing advertising
revenues up 1.0%
Television revenues
down 7.1%
CHICAGO,
May 12, 2005 -- Tribune Company
(NYSE: TRB) today reported its summary of revenues and
newspaper advertising volume for period 4, ended
April 24, 2005. Consolidated revenues for the period were
$437 million, down
2.2 percent from last year’s $447 million.
Publishing revenues in April were $317
million, 0.5 percent lower than last year’s
$319 million. Advertising revenues increased 1.0 percent
to $250 million, compared with $247 million in April 2004.
Total advertising inches were down 0.3 percent, while preprint
pieces increased 8 percent. Excluding Newsday, which implemented
lower ad rates as the result of the significant reduction
in reported circulation in September 2004, advertising revenues
were up 2.1 percent.
- Retail advertising revenues were
flat as growth in the furniture/home furnishings, general
merchandise, auto supply, and hardware/home improvement
store categories was offset by declines in the department
store and food & drug
store categories. Preprint revenues, which are principally
included in retail, were up
4 percent.
- National advertising revenues decreased 7.0
percent as declines in the movies, transportation and technology
categories were partially offset by growth in the telecom and media categories.
- Classified advertising revenues rose 8.2 percent due
to gains in help wanted and real estate, up 18 and 21 percent,
respectively. Auto classified advertising fell
6 percent. Interactive revenues, which are primarily included
in classified, were $14 million, up 51 percent, due to
strength in all categories.
Circulation revenues were down 8.8 percent
primarily due to volume declines at each of the company’s
newspapers.
Broadcasting and Entertainment group revenues in April were
down 6.5 percent to
$120 million, compared with $129 million last year. Television
revenues decreased
7.1 percent as advertising revenue remains soft in most markets.
Weakness in autos, movies and retail was partially offset
by increases in fast food, education and financial. Television
revenues in New York, Los Angeles, Chicago and Boston continue
to be impacted by Local People Meters. Radio/entertainment
revenues fell 3.6 percent due in part to fewer syndicated
shows being produced by Tribune Entertainment Company.
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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 Securities and
Exchange Commission (“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 or financial results. 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. The Company's
next 10-Q report to be filed with the SEC may contain updates
to the information included in this release.
TRIBUNE (NYSE: TRB) is one of
the country’s top media
companies, operating businesses in publishing and broadcasting.
It reaches more than 80 percent of U.S. households and is
the only media organization with newspapers, television stations,
and websites in the nation’s top three markets. In
publishing, Tribune operates 11 leading daily newspapers
including the Los Angeles Times, Chicago Tribune and Newsday,
plus a wide range of targeted publications such as Spanish-language
Hoy. 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.
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