Tribune Company (NYSE: TRB) today reported its summary of revenues and newspaper advertising volume for period 1, ended Feb. 1, 2004. Consolidated revenues for the period were $476 million, up 2 percent from last year’s $467 million.
Publishing revenues in January were $364 million, 1 percent higher than last year’s $360 million. Advertising revenues increased 2.0 percent to $278 million, compared with $273 million in January 2003. Total advertising inches were up 1 percent, while preprint pieces increased 9 percent.
Retail, national and classified advertising revenues discussed below include both print and interactive revenues for 2004 and 2003.
- Retail advertising revenues grew 3.8 percent due to strength in home furnishings, electronics, department stores and other retail, partially offset by weakness in food. Preprint revenues, which are principally included in retail, were up 6 percent.
Full run retail linage was flat in the period.
- National advertising revenues were flat as strength in movies/entertainment, hi-tech and financial was offset by lower auto manufacturers and travel/resorts.
Full run national volume was down 1 percent.
- Classified advertising revenues rose 1.5 percent due to gains in auto, help wanted and real estate, which were up 4 percent, 2 percent and 1 percent, respectively. Full run classified volume was down 3 percent in the period.
- Interactive revenues were $9.7 million, up 40 percent, due to strength in all categories.
Broadcasting and Entertainment group revenues increased 5.0 percent to $112 million, compared with $107 million in January 2003. Television revenues increased 7.1 percent. Excluding KPLR-TV, St. Louis and KWBP-TV, Portland, both acquired in March 2003, television revenues increased 3.2 percent. Radio/Entertainment revenues decreased
22.9 percent primarily due to lower syndicated program sales at Tribune Entertainment.
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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.