Tribune Company (NYSE: TRB) today reported its summary of revenues and newspaper advertising volume for period 7, ended August 1, 2004. Consolidated revenues for the period were $523 million, up 2.8 percent from last year’s $508 million.
Publishing revenues in July were $362 million, 1.8 percent higher than last year’s $356 million. Advertising revenues increased 2.6 percent to $278 million, compared with $271 million in July 2003. Total advertising inches were up 5 percent, while preprint pieces increased 17 percent.
Retail, national and classified advertising revenues discussed below include both print and interactive revenues for 2004 and 2003.
- Retail advertising revenues grew 3.3 percent due to strength in the home furnishings, food, department stores and other retail categories. Preprint revenues, which are principally included in retail, were up 12 percent. Full run retail linage was up 6 percent in the period.
- National advertising revenues decreased 1.7 percent as weakness in the hi-tech and travel/resorts categories was partially offset by strength in auto manufacturers, entertainment/movies and financial categories. Full run national volume was up 2 percent.
- Classified advertising revenues rose 4.6 percent due to gains in help wanted and real estate, which were up 11 percent and 9 percent, respectively. Auto classified advertising fell 2 percent. Full run classified volume was down 1 percent in the period. Interactive revenues, which are primarily included in classified, were $11 million, up 33 percent, due to strength in all categories.
Broadcasting and Entertainment group revenues in July rose 5.2 percent to $160 million, compared with $152 million last year. Television revenues increased 6.0 percent as strength in the financial, telecom and education categories was partially offset by decreases in movies and tourism. August is weaker, as advertisers are avoiding going up against the Olympics; as a result, third quarter television revenues are expected to be up in the low single digits. Radio/entertainment revenues rose 3.0 percent in July on baseball related increases.
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This press release contains certain comments that are based largely on the company’s current expectations and are subject to certain risks, trends and uncertainties. Such comments and statements should be understood in the context of Tribune’s publicly available reports filed with the SEC, including the most current 10-Q and 10-K that contain a discussion of various factors that may affect the company’s business. These factors could cause actual future performance to differ materially from current expectations.
Tribune Company is not responsible for updating the information contained in this press release beyond the published date, nor for changes made to this document by wire services or Internet service providers. More information on Tribune is available on the Internet at www.tribune.com.