Tribune 2006 Third Quarter Results

CHICAGO, Oct 19, 2006 -- Tribune Company reported yesterday third quarter 2006 diluted earnings per share from continuing operations of $.65 compared with $.06 in the third quarter of 2005.

Third quarter 2006 results from continuing operations included the following:

-- A net non-operating gain of $.22 per diluted share, $.19 of which
relates to the restructuring in September of TMCT, LLC and TMCT II,
LLC, two partnerships that Tribune inherited in its acquisition of
Times Mirror. Tribune recorded a one-time gain of $48 million, net of
tax, as a result of this transaction.

Third quarter 2005 results from continuing operations included the following:

-- A net non-operating loss of $.43 per diluted share related primarily to
an adverse tax ruling disallowing the 1998 tax-free reorganization of
Matthew Bender, a former subsidiary of Times Mirror. Tribune inherited
the preexisting tax dispute in its acquisition of Times Mirror.