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Tribune
Revenues Down 1.9% in May
Publishing
advertising revenues up slightly
Television revenues
down 7.5%
CHICAGO,
June 14, 2005 -- Tribune Company
(NYSE: TRB) today reported its summary of revenues and
newspaper advertising volume for period 5, ended
May 22, 2005. Consolidated revenues for the period were
$458 million, down
1.9 percent from last year’s $467 million.
Publishing revenues in May were $323
million, 0.6 percent lower than last year’s
$325 million. Advertising revenues increased 0.3 percent
to $256 million, compared with $255 million in May 2004.
Total advertising inches were down 0.2 percent, while preprint
pieces increased 5.8 percent. Excluding Newsday, which implemented
lower ad rates as the result of the significant reduction
in reported circulation in September 2004, advertising revenues
were up 2.0 percent.
- Retail advertising revenues decreased
0.9 percent as declines in the department store, food & drug,
restaurant, hardware/home improvement and electronics
categories were offset by growth in the auto supply,
furniture/home furnishings, apparel/fashion and general
merchandise categories. Preprint revenues, which are
principally included in retail, were up 5 percent.
- National advertising revenues decreased
5.0 percent as declines in the telecom, transportation,
resorts and auto categories were partially offset by growth
in the financial, technology, movies and package goods
categories.
- Classified advertising revenues rose
5.5 percent due to gains in real estate and help wanted,
up 16 and 11 percent, respectively. Auto classified advertising
fell
6 percent. Interactive revenues, which are primarily included
in classified, were $14 million, up 43 percent, due to
strength in all categories.
Circulation revenues were down 9.4 percent
primarily due to volume declines at each of the company’s
newspapers.
Broadcasting and entertainment group revenues in May were
down 4.6 percent to
$135 million, compared with $141 million last year. Television
revenues decreased
7.5 percent as advertising revenue remains soft in most markets.
Weakness in the auto, movie and retail categories were partially
offset by increases in education and food. Television revenues
in New York, Los Angeles, Chicago and Boston continue to
be impacted by Local People Meters. Radio/entertainment revenues
increased 8.1 percent due to improved results at the Cubs.
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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-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 websites 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 such as 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 websites complement Tribune’s print and
broadcast properties and extend the company’s nationwide
audience.
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