| 
Tribune
Revenues Down 5.2% in August
Publishing Revenues
Decline 6.1%
Television Revenues
Down 4.6%
CHICAGO,
September 20, 2007 -- Tribune
Company (NYSE: TRB) today reported its summary of revenues
and newspaper advertising volume for period 8, ended Sept.
2, 2007. Consolidated revenues for the period were $391 million,
down 5.2 percent from last year’s $413 million.
Publishing revenues in August were $271 million compared
with $288 million last year, down 6.1 percent. Advertising
revenues decreased 7.2 percent to $210 million, compared
with $226 million in August 2006.
- Retail advertising revenues increased 0.6 percent
with the largest increases in the hardware/home improvement
stores, food and drug stores and home furnishings categories,
partially offset by declines in the department stores and
amusements categories. Preprint revenues, which are principally
included in retail, were up 1.9 percent for the period.
- National advertising revenues increased
2.8 percent, with increases in financial, telecom/wireless
and media, partially offset by declines in the resorts
and auto categories.
- Classified
advertising revenues decreased 20.1 percent. Real estate
fell 30.4 percent with the most significant declines in
Los Angeles, the Florida markets and Chicago due to difficult
year-over-year comparisons. Help wanted declined 21.7 percent
and automotive decreased 7.1 percent. Interactive revenues,
which are primarily included in classified, were $21 million,
up 15 percent, due to growth in most categories.
Circulation revenues were down 4.8 percent due to single-copy
declines and continued selective discounting in home delivery.
Broadcasting and entertainment group revenues in August
were $121 million, down 3.0 percent, as declines in television
and Cubs revenues were partially offset by higher revenue
at Tribune Entertainment. Television revenues fell 4.6 percent,
with lower movies, political and restaurant/fast food, partially
offset by strength in the automotive, health care/pharmacy
and telcom categories.
:: :: ::
Forward-Looking Statements
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. You can identify these and other forward
looking statements by the use of such words as “will,” “expect,” “plans,” “believes,” “estimates,” “intend,” “continue,” or
the negative of such terms, or other comparable terminology.
Forward-looking statements also include the assumptions underlying
or relating to any of the foregoing statements. Actual results
could differ materially from the expectations expressed in
these statements. Factors that could cause actual results
to differ include risks related to the transactions being
consummated; the risk that required regulatory approvals
or financing might not be obtained in a timely manner, without
conditions, or at all; the impact of the substantial indebtedness
incurred to finance the consummation of the merger; the ability
to satisfy all closing conditions in the definitive agreements;
difficulties in retaining employees as a result of the merger
agreement; risks of unforeseen material adverse changes to
our business or operations; risks that the proposed transaction
disrupts current plans, operations, and business growth initiatives;
the risk associated with the outcome of any legal proceedings
that may be instituted against Tribune and others in connection
with the merger agreement; and other factors described in
Tribune’s publicly available reports filed with the
SEC, including the most current annual 10-K and quarterly
10-Q reports, which contain a discussion of various factors
that may affect Tribune’s business or financial results.
These factors, including also the ability to complete the
merger, could cause actual future performance to differ materially
from current expectations. Tribune 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.
:: :: ::
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.
|
