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Tribune Revenues Down 3% in April
Publishing advertising
revenues down 2%
Television revenues down 2%
CHICAGO, May 17, 2006 -- Tribune
Company (NYSE: TRB) today reported its summary of revenues
and newspaper advertising volume for period 4, ended
Apr. 23, 2006. Consolidated revenues for the period were
$424 million, down
3.0 percent from last year’s $437 million.
Publishing revenues in April were $309
million compared to last year’s $317 million, down
2.7 percent. Advertising revenues decreased 2.0 percent
to $245 million, compared with $250 million in April 2005.
Advertising revenues in April were negatively impacted
by the timing of the Easter holiday. Combined advertising
revenues for March and April were flat compared to 2005;
excluding Newsday, combined advertising revenues for March
and April increased 2 percent.
- Retail advertising revenues were down slightly
with weakness in the department stores, furniture/home
furnishings and several other retail categories offset
by gains in specialty merchandise, personal services and
amusements. Preprint revenues, which are principally included
in retail, were flat. Excluding Newsday, preprint revenues
increased 6 percent.
- National advertising revenues declined
11.8 percent principally due to lower movies, resorts
and automotive advertising.
- Classified advertising revenues rose 2.0 percent.
Real estate rose 24 percent, while help wanted and automotive
classified fell 5 percent and 12 percent, respectively.
Interactive revenues, which are primarily included in classified,
were $18 million, up 23 percent, due to strength in all
categories.
Circulation revenues were down 5.3 percent.
Selective discounting continued as part of the company’s
strategy to stabilize individually paid circulation.
Broadcasting and entertainment group revenues in April decreased
3.9 percent to $116 million, compared with $120 million last
year. Television revenues declined 2.0 percent; weakness
in restaurant/fast foods and movies was partially offset
by strength in telecom and education. Radio/entertainment
revenues decreased 13.3 percent due to fewer Cubs home games
(six in April 2006 compared with seven home games last year)
and lower syndication revenues at Tribune Entertainment.
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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. |
