Memo to Tribune Employees

Romenesko Memos

Tribune says its consolidated operating cash flow in 2010 was approximately $635 million — an increase of more than $140 million compared to full-year 2009. It warns employees that 2011 “will be a challenging year due to a number of factors, including a reduction in political advertising in broadcasting and continued pressure on print advertising.”

Memo to Tribune employees
From: Tribune Communications
Sent: Wednesday, January 26, 2011 12:03 PM
Subject: Message from Don, Nils, Tony and Eddy/2010 Financial Highlights

Today we will announce some of the company’s financial highlights for 2010 in the attached press release. As the release makes clear, last year was a significant improvement compared to 2009. The primary reason for that improvement is the hard work of our employees, who continue transforming Tribune into a media company with a variety of innovative news, information and entertainment products available to readers, listeners, viewers and advertisers across multiple platforms. Thank you for making last year a success.

Now it is time to move forward into 2011. This will be a challenging year due to a number of factors, including a reduction in political advertising in broadcasting and continued pressure on print advertising, particularly in the national advertising category. But, there is also a lot of opportunity ahead. We are organized for success, finding new ways to serve our customers, and working together as one company—but we have to continue to work smart, innovate and be efficient.

Thanks again for all you do for Tribune.

Don, Nils, Tony and Eddy

SOURCE: Romenesko