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Tribune Outlines Advantages of Local
Mass Media and National Scale at New York Conference
President
and CEO FitzSimons highlights Tribune’s winning combination
of
national reach and local touch
CHICAGO, September 30, 2003
-- Tribune Company (NYSE:TRB) today reviewed
its business strategy at Communacopia XII, a media conference
sponsored by Goldman Sachs. President and Chief Executive
Officer Dennis FitzSimons highlighted Tribune’s local
mass media strategy and the advantages of the company’s
strong newspaper brands, local television stations and national
scale as a platform for growth.
"Tribune’s strategy is a combination
of national scale and localism that gives the company an advantage
in growing revenue and controlling costs," said FitzSimons.
FitzSimons highlighted that Tribune’s
media businesses, in aggregate, reach 80 percent of U.S. consumers
with a significant concentration in the top media markets.
Tribune achieved this scale by consolidating nationally in
television with the addition of 20 stations since 1992 and
acquiring the seven Times Mirror newspapers in 2000; by growing
locally within its markets such as its expansion of ownership
of television stations, newspapers and Web sites in the top
three media markets; and by vertically integrating and controlling
production and distribution.
"Our partnership with the WB Network is
just one example of how national scale allows us to manage
costs for the broadcast group," said FitzSimons. "With
advantages in negotiating for syndicated shows and the ability
to launch or expand local news operations, our stations’
revenue growth and cash flow margins have improved dramatically."
Tribune’s station group delivers more
than 50 percent of the WB’s national audience. In the
top three markets of New York, Los Angeles and Chicago, Tribune
stations double the network’s national ratings.
In print, Tribune’s scale has improved
its position with large retail advertisers who are looking
for broad reach and the ability to target specific demographics.
"Targeting is what’s behind many
of our recent investments and new product launches,"
said FitzSimons. As examples he named the improvements in
Tribune’s preprint capability at the Los Angeles Times
and Chicago Tribune; the launch RedEye, a commuter tabloid
edition of the Chicago Tribune that targets 18 to 34 year
olds; the acquisition of Chicago magazine; the recent expansion
of the Spanish-language daily Hoy, from New York to Chicago;
and its investment in amNewYork, an upcoming daily tabloid
aimed at young commuters in Manhattan.
An archive of today’s presentation will
be available on the Tribune Company Web site at www.tribune.com
for four weeks.
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TRIBUNE (NYSE: TRB) is one of the country’s
premier media companies, operating businesses in broadcasting
and publishing. It reaches more than 80 percent of U.S. households
and is the only media organization with television stations,
newspapers and Web sites in the nation’s top three markets.
In publishing, Tribune operates 13 leading daily newspapers
including the Los Angeles Times, Chicago Tribune, Newsday
and Spanish-language Hoy, plus a wide range of targeted publications.
The company’s broadcasting group includes 26 television
stations; Superstation WGN on national cable; WGN-AM in Chicago;
and the Chicago Cubs baseball team. In-depth news and information
Web sites complement Tribune’s print and broadcast properties
and extend the company’s nationwide audience.
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