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Tribune Revenues Down 3.0% in February
Publishing
advertising revenues down 2.2%
Television revenues down
5.0%
CHICAGO,
March 16, 2006 -- Tribune Company
(NYSE: TRB) today reported its summary of revenues and newspaper
advertising volume for period 2, ended
Feb. 26, 2006. Consolidated revenues for the period were
$408 million, down
3.0 percent from last year’s $420 million.
Publishing revenues in February were $314 million
compared to last year’s
$321 million, down 2.4 percent. Advertising revenues decreased
2.2 percent to $248 million, compared with $254 million
in February 2005.
- Retail advertising revenues decreased 4.7 percent
with weakness in the food & drug, department store and electronics
categories. Preprint revenues, which are principally included in
retail, were down 6 percent due primarily to a decline
at Newsday. Excluding Newsday, preprint revenues were down
1 percent.
- National advertising revenues declined 11.5 percent
principally due to lower automotive and movie advertising.
- Classified advertising
revenues rose 7.2 percent due to gains in real estate and help wanted,
which rose 35 percent and 5 percent, respectively. Automotive classified
advertising fell 11 percent. Interactive revenues, which are primarily
included in classified, were $17 million, up 24 percent, due to strength
in all categories.
Circulation revenues were down 3.9 percent due to
volume declines at most of the company’s newspapers and selectively
higher discounting.
Broadcasting and entertainment group revenues in February decreased 4.8
percent to
$94 million, compared with $99 million last year. Television
revenues declined 5.0 percent; weakness in auto and package
goods was partially offset by increases in media and education.
Radio/entertainment revenues decreased 0.9 percent primarily
due to lower syndication revenues at Tribune Entertainment.
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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. Any of 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. This press
release is being furnished to the SEC through a Form 8-K.
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 web sites 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 including 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 web sites complement Tribune’s print
and broadcast properties and extend the Company’s nationwide
audience. |
