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Thursday, September 20, 2007

Tribune Revenues Down 5.2% in August

TRIBUNE COMPANY PRESS RELEASE
September 20, 2007

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 August2006.

  • 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.

The complete report can be read here.

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