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Tribune Revenues Down 1.7% in July
Publishing
advertising revenues up 1.5%
Television revenues down 7.8%
CHICAGO, August 17,
2005 --
Tribune Company (NYSE: TRB) today reported
its summary of revenues and newspaper advertising volume
for period 7, ended July 31, 2005. Consolidated revenues
for the period were $514 million, down
1.7 percent from last year’s $523 million.
Publishing revenues in July were $360
million, 0.7 percent lower than last year’s
$362 million. Advertising revenues increased 1.5 percent
to $282 million, compared with $278 million in July 2004.
Total advertising inches were down 3.3 percent, while preprint
pieces increased 3.3 percent. Excluding Newsday, which implemented
lower ad rates in September 2004as the result of the significant
reduction in reported circulation, advertising revenues were
up 2.7 percent.
- Retail advertising revenues increased
1.2 percent as gains in the hardware/home improvement
store, restaurant and general merchandise categories
were offset by declines in the amusement, department
store, food & drug and
apparel/fashion categories. Preprint revenues, which are
principally included in retail, were up
1 percent.
- National advertising revenues decreased
1.7 percent as declines in the movie, media, transportation
and technology categories were partially offset by growth
in the financial, wireless and package goods categories.
- Classified
advertising revenues rose 3.7 percent due to gains in help
wanted and real estate, which rose 13 and 9 percent, respectively.
Auto classified advertising fell 6 percent. Interactive
revenues, which are primarily included in classified, were
$17 million, up 49 percent, due to strength in all categories.
Circulation revenues were down 8.2 percent
primarily due to volume declines at each of the company’s
newspapers as well as selectively higher discounting.
Broadcasting and entertainment group revenues
in July were down 3.9 percent to
$154 million, compared with $160 million last year. Television
revenues decreased
7.8 percent as advertising revenue remains soft in most markets.
Weakness in the movie, telecom and retail categories was
partially offset by increases in education and financial.
Television revenues in New York, Los Angeles, Chicago and
Boston continue to be impacted by Local People Meters. Radio/entertainment
revenues increased 7.7 percent due to improved results at
the Chicago Cubs.
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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. |
