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Tribune
Reviews Business Progress at Media Conference
CHICAGO,
June 22, 2005 -- Tribune Company
(NYSE:TRB) executives addressed investors and analysts
today at the Mid-Year Media Review conference in New York
City. Dennis FitzSimons, Tribune chairman, president and
chief executive officer, Scott Smith, Tribune Publishing
president, and Pat Mullen, Tribune Broadcasting president,
covered developments at the company’s businesses.
"Tribune’s newspapers and TV stations
are resilient, and provide a strong base for our future growth,"
FitzSimons said. "With the right content and sales
strategies, we can grow our share of advertising in our local
markets."
FitzSimons highlighted Tribune’s
financial strength and noted that the company is using
its substantial cash flow to invest in its businesses and
return value to shareholders. The company raised its dividend
50% earlier this year and continues to repurchase its stock.
Tribune has purchased 5 million shares so far this year
after buying back 15 million shares in 2004.
Smith focused his remarks on strategies
to grow newspaper readership and online audiences. He also
discussed innovative new advertising solutions being offered
by the company’s
newspapers, such as special ad positions and shapes.
"We believe these unique ads will generate
additional revenue the rest of this year and beyond, particularly
in the national category," Smith said.
In television, Mullen noted that new
prime-time shows on The WB this fall and a refreshed sitcom
lineup in the fringe periods should lead to improved ratings.
He pointed to local news as another key programming element,
and recapped the company’s solid morning news ratings in the nation’s
top markets.
"Our local stations are well managed,
we’re
in great markets, and we have a solid programming strategy
which sets us up well for growth," Mullen said.
A transcript of Tribune’s presentation
at the Mid-Year Media Review will be posted on www.tribune.com
later this week.
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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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