Tribune profit tumbles 62% on television stations for sale

07-13-06 05:56 AM EST

LONDON (MarketWatch) -- Tribune Co. (TRB) said second-quarter net income dropped 62% to $87.8 million, or 28 cents a share, hurt by losses at Atlanta and Albany television stations it's planning to sell. Earnings from continuing operations also declined, to 53 cents a share from 72 cents a share, including a penny a share gain from a tax adjustment and a 3 cents a share non-operating loss. Revenue dropped 1.4% to $1.43 billion on a decline in circulation revenue and flat advertising revenue from its newspapers. Analysts polled by Thomson First Call were looking for earnings of 55 cents a share on revenue of $1.46 billion.