| 
Tribune Revenues Increased
3.5% in February
Publishing revenues
up 2.7%
Television
revenues up 7.6%
CHICAGO, March
17, 2004 -- Tribune Company (NYSE:
TRB) today reported its summary of revenues and newspaper
advertising volume for period 2, ended
Feb. 29, 2004. Consolidated revenues for the period were
$421 million, up 3.5 percent from last year’s $407
million.
Publishing revenues in
February were $317 million, 2.7 percent higher than last
year’s
$309 million. Advertising revenues increased 4.3 percent
to $246 million, compared with $236 million in February
2003. Total advertising inches were up 4 percent, while
preprint pieces increased 5 percent.
Retail, national and classified advertising revenues discussed
below include both print and interactive revenues for 2004
and 2003.
- Retail advertising revenues grew
1.8 percent due to strength in the home furnishings,
food and other retail categories, partially offset by weakness
in department stores and electronics. Preprint revenues,
which are principally included in retail, were up 4 percent.
Full run retail linage was down 5 percent in the period.
- National
advertising revenues rose 3.9 percent as strength in
the financial, movies/entertainment and hi-tech categories
was offset by lower auto manufacturers advertising. Full
run national volume was up 4 percent.
- Classified advertising revenues
rose 7.7 percent due to gains in help wanted, auto and real estate, which were
up 16 percent, 5 percent and 4 percent, respectively. Full run
classified volume was up 2 percent in the period.
- Interactive
revenues were $9 million, up 33 percent, due to strength
in all categories.
Broadcasting and Entertainment group revenues increased
5.8 percent to $104 million, compared with $98 million
in February 2003. Television revenues increased 7.6 percent.
Excluding KPLR-TV, St. Louis and KWBP-TV, Portland, both
acquired in March 2003, television revenues increased
3.9 percent. Radio/Entertainment revenues decreased
16.5 percent primarily due to fewer programs being produced
at Tribune Entertainment.
As previously stated, consolidated operating
expenses are expected to increase about 5.5% in both the first
and second halves of 2004.
:: :: ::
This press
release contains certain comments 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 SEC, including the most current 10-Q and 10-K
that contain a discussion of various factors that may affect
the company's business. 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,
nor for changes made to this document by wire services or
Internet service providers. More information on Tribune is
available on the Internet at www.tribune.com.
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 websites in the nation’s top three markets.
In publishing, Tribune operates 14 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 operates 26 television
stations; Superstation WGN on national cable; WGN-AM in Chicago;
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. |
