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Tribune Revenues Down 1.0% in October
Publishing advertising revenues down 4.0%
Television
revenues up 5.1%
November trends improve
CHICAGO, November
20, 2006 -- Tribune Company (NYSE:
TRB) today reported its summary of revenues and newspaper
advertising volume for period 10, ended Oct. 22, 2006. Consolidated
revenues for the period were $428 million, down
1.0 percent from last year’s $432 million.
Publishing revenues in October were $317 million compared
with $330 million last year, down 3.9 percent. Advertising
revenues decreased 4.0 percent to $254 million, compared
with $265 million in October 2005.
- Retail advertising revenues increased
3.3 percent; strength in hardware/home improvements,
food and drug stores and specialty merchandise was partially
offset by weakness in the furniture/home furnishings
category. The Los Angeles Times’ new preprint distribution
agreement with ADVO accounted for over half of the increase
in retail. Preprint revenues, which are principally included
in retail, were up 1 percent. Excluding Newsday, preprint
revenues increased 3 percent.
- National advertising revenues declined 15.5 percent
on weakness across most categories, particularly movies,
telecom/wireless and resorts.
- Classified advertising
revenues decreased 3.8 percent. Real estate rose 6 percent.
Help wanted and automotive classified declined 9 percent
and 11 percent, respectively. Interactive revenues, which
are primarily included in classified, were $20 million,
up 25 percent, due to strength in all categories.
Circulation revenues were down 6.0 percent due largely to
continued selective home delivery discounting.
Broadcasting and entertainment group revenues in October
increased 8.4 percent to
$111 million, compared with $102 million last year. Television
revenues rose
5.1 percent; strength in political, auto and telecom was
partially offset by weakness in restaurant/fast food, movies
and retail. Radio/entertainment increased 36.7 percent primarily
due to additional Cubs home games this year.
The company also said that preliminary revenue estimates
for period 11, which ended Nov. 19, are more favorable than
the period 10 results for both publishing and television
compared to last year.
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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-K 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, interactive
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’s leading daily
newspapers include the Los Angeles Times, Chicago Tribune,
Newsday (Long Island, N.Y.), The Sun (Baltimore), South Florida
Sun-Sentinel, Orlando Sentinel and Hartford Courant. The
company’s broadcasting group operates 25 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. |
