Tribune Company (NYSE: TRB) today reported its summary of revenues and newspaper advertising volume for period 7, ended Aug. 5, 2007. Consolidated revenues for the period were $467 million, down 5.9 percent from last year’s $496 million.
Publishing revenues in July were $319 million compared with $349 million last year, down 8.6 percent. Advertising revenues decreased 10.3 percent to $247 million, compared with $275 million in July 2006.
- Retail advertising revenues decreased 6.0 percent with the largest declines in the department stores and home furnishings categories, partially offset by improvements in the health care and restaurant categories. Preprint revenues, which are principally included in retail, were up 3 percent for the period.
- National advertising revenues fell 3.7 percent, with declines in auto, financial and resorts, partially offset by an improvement in the movie category.
- Classified advertising revenues decreased 18.2 percent. Real estate fell 24 percent with the most significant declines in the Florida markets, Los Angeles and Chicago due to difficult year-over-year comparisons. Help wanted declined 19 percent and automotive decreased 14 percent. Interactive revenues, which are primarily included in classified, were $22 million, up 11 percent, due to growth in most categories.
Circulation revenues were down 5.4 percent due to single-copy declines and continued selective discounting in home delivery.
Broadcasting and entertainment group revenues in July were flat at $147 million as a decrease in television revenues was offset by increased revenues at the Chicago Cubs and Tribune Entertainment. Television revenues fell 3.7 percent, with lower automotive, movie and political advertising, partially offset by strength in the telecom/wireless and health care categories.
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