Tribune Revenues Down 3.4% In February
Tribune Company (NYSE: TRB) today reported its summary of revenues and newspaper advertising volume for period 2, ended March 4. Consolidated revenues for the period were $385 million, down 3.4 percent from last year’s $398 million.
Publishing revenues in February were $294 million compared with $310 million last year, down 5.1 percent. Advertising revenues decreased 5.1 percent to $233 million, compared with $245 million in February 2006.
- Retail advertising revenues increased 1.4 percent as strength in specialty merchandise, hardware/home improvement and health care was partially offset by weakness in department stores. Preprint revenues, which are principally included in retail, were up 5.1 percent.
- National advertising revenues declined 2.0 percent; weakness in the auto, technology and movies categories was partially offset by strength in telecom/wireless.
- Classified advertising revenues decreased 13.3 percent. Real estate fell 14 percent, help wanted declined 17 percent and automotive decreased 14 percent. Interactive revenues, which are primarily included in classified, were $20 million, up 17 percent, due to growth in all categories.
Circulation revenues were down 7.0 percent due to single-copy declines and continued selective discounting in home delivery.
Broadcasting and entertainment group revenues in February increased 2.4 percent to $90 million compared with $88 million last year. Television revenues rose 1.0 percent; strength in telecom and restaurant/fast food was partially offset by weakness in retail and movies. Radio/entertainment increased 25.9 percent, or $1 million.