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Tribune Revenues Down 3.4% In February
Publishing Advertising Revenues Decline 5.1%
Television Revenues Up 1.0%
CHICAGO, March 21, 2007 -- Tribune Company (NYSE: TRB) today reported its summary of revenues and newspaper advertising volume for period 2, ended
March 4. Consolidated revenues for the period were $385 million, down 3.4 percent from last year’s $398 million.
Publishing revenues in February were $294 million compared with $310 million last year, down 5.1 percent. Advertising revenues decreased 5.1 percent to $233 million, compared with $245 million in February 2006.
- Retail advertising revenues increased 1.4 percent as strength in specialty merchandise, hardware/home improvement and health care was partially offset by weakness in department stores. Preprint revenues, which are principally included in retail, were up 5.1 percent.
- National advertising revenues declined 2.0 percent; weakness in the auto, technology and movies categories was partially offset by strength in telecom/wireless.
- Classified advertising revenues decreased 13.3 percent. Real estate fell 14 percent, help wanted declined 17 percent and automotive decreased 14 percent. Interactive revenues, which are primarily included in classified, were $20 million, up 17 percent, due to growth in all categories.
Circulation revenues were down 7.0 percent due to single-copy declines and continued selective discounting in home delivery.
Broadcasting and entertainment group revenues in February increased 2.4 percent to $90 million compared with $88 million last year. Television revenues rose 1.0 percent; strength in telecom and restaurant/fast food was partially offset by weakness in retail and movies. Radio/entertainment increased 25.9 percent, or $1 million.
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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 23 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. |
