TRIBUNE COMPANY PRESS RELEASE

TRIBUNE COMPANY PRESS RELEASE
December 12, 2007

Tribune Revenues Down 3.3% in November

• Publishing Revenues Decline 3.5%
• Broadcasting and Entertainment Revenues Down 2.6%

CHICAGO, Dec. 12, 2007 - Tribune Company (NYSE: TRB) today reported its summary of revenues and newspaper advertising volume for period 11, ended Nov. 25, 2007. Consolidated revenues for the period were $413 million, down 3.3 percent from last years $428 million. Consolidated operating expenses were 5.0 percent lower than period 11 last year.

Publishing revenues in November were $309 million compared with $321 million last year, down 3.5 percent. Advertising revenues decreased 4.9 percent to $244 million, compared with $257 million in November 2006. Advertising revenues benefited from the shift in the Thanksgiving holiday week from period 12 in 2006 to period 11 this year.

• Retail advertising revenues increased 7.3 percent with the largest increases in the specialty merchandise, department stores, apparel/fashion and electronics categories. Preprint revenues, which are principally included in retail, were up 18.5 percent for the period.
• National advertising revenues increased 1.9 percent, with the largest increases in the movies, auto, financial and telecom/wireless categories, partially offset by a decrease in the transportation category.
• Classified advertising revenues decreased 26.2 percent. Real estate fell 39.8 percent with the most significant declines in Chicago, the Florida markets, and Los Angeles. Help wanted declined 28.4 percent and automotive decreased 7.6 percent. Interactive revenues, which are primarily included in classified, were $21 million, up 7.8 percent, due to growth in most categories.

Circulation revenues were down 4.6 percent due to single-copy declines and continued selective discounting in home delivery.

Publishing operating expenses in November were down 5.2 percent primarily due to lower newsprint and ink, compensation, promotion and other cash expenses.

Broadcasting and entertainment group revenues in November were $104 million, down 2.6 percent, due to decreases in television group revenue, partially offset by increases in radio/entertainment revenues. Television revenues fell 4.8 percent due to the absence of political advertising, partially offset by strength in several categories including retail, corporate, health, food/packaged goods, telecom and restaurant/fast food.

Broadcasting and entertainment group operating expenses in November declined by 2.7 percent primarily due to lower compensation and other cash expenses.

Consolidated equity income was $11 million in November, up from $8 million in the prior year period.

Tribune expects to complete its disposition of the Chicago Cubs, Wrigley Field and related real estate, and its interest in Comcast SportsNet Chicago in the first half of 2008. It plans to use the proceeds to repay existing debt.

As stated previously, the company also expects its going-private transaction to close before the end of Tribunes 2007 fiscal year following satisfaction of the remaining closing conditions, including the receipt of a solvency opinion and completion of the committed financing.

SOURCE: Tribune Company