Tribune Revenues Down 11.1% in May

Publishing Advertising Revenues Decline 11.8%

Television Revenues Down 11.0%

CHICAGO, June 20, 2007 -- Tribune Company (NYSE: TRB) today reported its summary of revenues and newspaper advertising volume for period 5, ended May 27. Consolidated revenues for the period were $406 million, down 11.1 percent from last year’s $457 million.

Publishing revenues in May were $292 million compared with $325 million last year, down 10.3 percent. Advertising revenues decreased 11.8 percent to $230 million, compared with $261 million in May 2006.

• Retail advertising revenues decreased 1.0 percent with weakness in the amusement category partially offset by strength in the home furnishings and specialty merchandise categories. Preprint revenues, which are principally included in retail, were flat for the period.
• National advertising revenues declined 17.9 percent, with most categories down for the period
• Classified advertising revenues decreased 20.0 percent. Real estate fell 30 percent with significant declines in the Florida markets, Chicago and Los Angeles due to difficult year-over-year comparisons. Help wanted declined 20 percent and automotive decreased 7 percent. Interactive revenues, which are primarily included in classified, were $22 million, up 22 percent, due to growth in all categories.

Circulation revenues were down 6.2 percent due to single-copy declines and continued selective discounting in home delivery.

Broadcasting and entertainment group revenues in May decreased 13.0 percent to $114 million compared with $131 million last year. Television revenues fell 11.0 percent, with lower automotive, movie and political advertising partially offset by strength in the retail and telecom/wireless categories. Results also reflected fewer Cubs home games in the period versus last year.

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Tribune Company (NYSE: TRB) will announce second quarter 2007 earnings on Wednesday, July 25, before the NYSE opening. The full text of the earnings announcement and accompanying financial tables will be available on Tribune’s website, www.tribune.com. There will not be a conference call.

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SOURCE: Tribune Company