Tribune Company (NYSE: TRB) today reported its summary of revenues and newspaper advertising volume for period 4, ended April 25, 2004. Consolidated revenues for the period were $447 million, up 3 percent from last year’s $435 million.
Publishing revenues in April were $319 million, 4.2 percent higher than last year’s $306 million. Advertising revenues increased 6.6 percent to $247 million, compared with $232 million in April 2003. Total advertising inches were up 1 percent, while preprint pieces increased 8 percent.
Retail, national and classified advertising revenues discussed below include both print and interactive revenues for 2004 and 2003.
- Retail advertising revenues grew 3.2 percent due to strength in the food, home furnishings, and other retail categories, partially offset by weakness in department stores and electronics. Preprint revenues, which are principally included in retail, were up 5 percent. Full run retail linage was flat in the period.
- National advertising revenues rose 12.7 percent as strength in the financial, travel/resorts, movies/entertainment and auto manufacturers categories was offset by lower hi-tech advertising. Full run national volume was up 5 percent.
- Classified advertising revenues rose 6.6 percent due to gains in help wanted and real estate, which were up 19 percent and 3 percent, respectively. Auto classified advertising fell 1 percent. Full run classified volume was down 1 percent in the period. Interactive revenues, which are primarily included in classified, were $9 million, up 44 percent, due to strength in all categories.
Broadcasting and Entertainment group revenues in April were flat at $129 million. Television revenues were $107 million, even with the same period last year. Television advertising revenue decreased 1.1 percent against strong comps, with weakness in the movie and food categories, partially offset by increases in fast food, telecom and financial. Second quarter TV ad revenues are pacing up in the low-single digits.
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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.