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.
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