Publishing Revenues Decline 7.9%; Television Revenues Down 7.1%
CHICAGO, Nov. 27 /PRNewswire-FirstCall/ -- Tribune Company
(NYSE:TRB) today reported its summary of revenues and newspaper
advertising volume for period 10, ended Oct. 28, 2007. Consolidated
revenues for the period were $383 million, down 9.3 percent from
last year's $422 million. Publishing revenues in October were $287
million compared with $311 million last year, down 7.9 percent.
Advertising revenues decreased 10.6 percent to $222 million,
compared with $249 million in October 2006. -- Retail advertising
revenues decreased 7.8 percent with the largest decreases in the
department stores, amusements and electronic categories, partially
offset by an increase in the health care category. Preprint
revenues, which are principally included in retail, were down 5.7
percent for the period. -- National advertising revenues decreased
2.3 percent, with the largest decreases in the auto, transportation
and technology categories, partially offset by an increase in the
movie category. -- Classified advertising revenues decreased 19.2
percent. Real estate fell 26.9 percent with the most significant
declines in the Florida markets, Los Angeles, and Chicago. Help
wanted declined 21.7 percent and automotive decreased 4.9 percent.
Interactive revenues, which are primarily included in classified,
were $22 million, up 11.4 percent, due to growth in most
categories. Circulation revenues were down 6.3 percent due to
single-copy declines and continued selective discounting in home
delivery. Broadcasting and entertainment group revenues in October
were $96 million, down 13.3 percent, due to decreases in television
group revenue and Chicago Cubs revenue. Television revenues fell
7.1 percent, due to declines in political, movies and retail,
partially offset by strength in the food/packaged goods, telecom
and restaurant/fast food categories. Radio/entertainment revenues
declined primarily due to five fewer Cubs home games. TRIBUNE
(NYSE:TRB) is one of the country's top media companies, operating
businesses in publishing, interactive and broadcasting. It reaches
more than 80 percent of U.S. households and is the only media
organization with newspapers, television stations and websites in
the nation's top three markets. In publishing, Tribune's leading
daily newspapers include the Los Angeles Times, Chicago Tribune,
Newsday (Long Island, N.Y.), The Sun (Baltimore), South Florida
Sun-Sentinel, Orlando Sentinel and Hartford Courant. The company's
broadcasting group operates 23 television stations, Superstation
WGN on national cable, Chicago's WGN-AM and the Chicago Cubs
baseball team. Popular news and information websites complement
Tribune's print and broadcast properties and extend the company's
nationwide audience. Forward-Looking Statements This press release
contains certain comments or forward-looking statements that are
based largely on the Company's current expectations and are subject
to certain risks, trends and uncertainties. You can identify these
and other forward-looking statements by the use of such words as
"will," "expect," "plans," "believes," "estimates," "intend,"
"continue," or the negative of such terms, or other comparable
terminology. Forward-looking statements also include the
assumptions underlying or relating to any of the foregoing
statements. Actual results could differ materially from the
expectations expressed in these statements. Factors that could
cause actual results to differ include risks related to the
proposed merger transactions being consummated; the risk that
required regulatory approvals or financing might not be obtained in
a timely manner, without conditions, or at all; the impact of the
substantial indebtedness incurred to finance the consummation of
the merger; the ability to satisfy all closing conditions in the
definitive agreements; difficulties in retaining employees as a
result of the merger agreement; risks of unforeseen material
adverse changes to our business or operations; risks that the
proposed transaction disrupts current plans, operations, and
business growth initiatives; the risk associated with the outcome
of any legal proceedings that may be instituted against Tribune and
others in connection with the merger agreement; and other factors
described in Tribune's publicly available reports filed with the
SEC, including the most current annual 10-K and quarterly 10-Q
reports, which contain a discussion of various factors that may
affect Tribune's business or financial results. These factors,
including also the ability to complete the merger, could cause
actual future performance to differ materially from current
expectations. Tribune is not responsible for updating the
information contained in this press release beyond the published
date, or for changes made to this document by wire services or
Internet service providers. Tribune's next annual 10-K report to be
filed with the SEC may contain updates to the information included
in this release. TRIBUNE COMPANY SUMMARY OF REVENUES AND NEWSPAPER
ADVERTISING VOLUME (Unaudited) For Period 10 Ended October 28, 2007
(In thousands) Period 10 (4 weeks)
----------------------------------- % 2007 2006 Change -----------
----------- -------- Publishing (A) Advertising Retail $96,890
$105,085 (7.8) National 54,454 55,760 (2.3) Classified 71,058
87,987 (19.2) ----------- ----------- Sub-Total 222,402 248,832
(10.6) Circulation 39,955 42,662 (6.3) Other 24,330 19,617 24.0
----------- ----------- Segment Total 286,687 311,111 (7.9)
----------- ----------- Broadcasting & Entertainment Television
(B) 89,583 96,404 (7.1) Radio/Entertainment 6,540 14,427 (54.7)
----------- ----------- Segment Total 96,123 110,831 (13.3)
----------- ----------- Consolidated Revenues (A)(B) $382,810
$421,942 (9.3) =========== =========== Total Advertising Inches
(A)(C) Full Run Retail 412 433 (4.8) National 218 227 (4.0)
Classified 597 693 (13.9) ----------- ----------- Sub-Total 1,227
1,353 (9.3) Part Run 1,405 1,705 (17.6) ----------- -----------
Total 2,632 3,058 (13.9) =========== =========== Preprint Pieces
(A)(C) 1,076,259 1,163,984 (7.5) =========== =========== Year to
Date (43 weeks) ----------------------------------- % 2007 2006
Change ----------- ----------- -------- Publishing (A) Advertising
Retail $986,154 $1,031,908 (4.4) National 548,121 569,094 (3.7)
Classified 804,124 966,095 (16.8) ----------- ----------- Sub-Total
2,338,399 2,567,097 (8.9) Circulation 435,966 462,107 (5.7) Other
224,593 207,714 8.1 ----------- ----------- Segment Total 2,998,958
3,236,918 (7.4) ----------- ----------- Broadcasting &
Entertainment Television (B) 929,248 949,326 (2.1)
Radio/Entertainment 248,893 231,048 7.7 ----------- -----------
Segment Total 1,178,141 1,180,374 (0.2) ----------- -----------
Consolidated Revenues (A)(B) $4,177,099 $4,417,292 (5.4)
=========== =========== Total Advertising Inches (A)(C) Full Run
Retail 4,164 4,244 (1.9) National 2,231 2,479 (10.0) Classified
6,682 7,932 (15.8) Sub-Total 13,077 14,655 (10.8) Part Run 15,318
17,472 (12.3) ----------- ----------- Total 28,395 32,127 (11.6)
=========== =========== Preprint Pieces (A)(C) 11,484,041
11,528,755 (0.4) =========== =========== (A) Operating results for
Hoy New York, SCNI and Recycler are excluded herein and reported as
discontinued operations in the Company's external financial
statements. (B) Excludes results from discontinued operations that
were sold in 2006 (WATL-TV, Atlanta, WLVI-TV, Boston and WCWN-TV,
Albany). (C) Volume for 2006 has been modified to conform with the
2007 presentation. Volume includes only the daily newspapers and is
based on preliminary internal data, which may be updated in
subsequent reports. DATASOURCE: Tribune Company CONTACT: investors
and media, Gary Weitman of Tribune Company, office,
+1-312-222-3394, fax, +1-312-222-1573, Web site:
http://www.tribune.com/
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