Tribune Company (NYSE: TRB) today reported its summary of revenues and newspaper advertising volume for period 10, ended Oct. 22, 2006. Consolidated revenues for the period were $428 million, down 1.0 percent from last year’s $432 million.
Publishing revenues in October were $317 million compared with $330 million last year, down 3.9 percent. Advertising revenues decreased 4.0 percent to $254 million, compared with $265 million in October 2005.
- Retail advertising revenues increased 3.3 percent; strength in hardware/home improvements, food and drug stores and specialty merchandise was partially offset by weakness in the furniture/home furnishings category. The Los Angeles Times’ new preprint distribution agreement with ADVO accounted for over half of the increase in retail. Preprint revenues, which are principally included in retail, were up 1 percent. Excluding Newsday, preprint revenues increased 3 percent.
- National advertising revenues declined 15.5 percent on weakness across most categories, particularly movies, telecom/wireless and resorts.
- Classified advertising revenues decreased 3.8 percent. Real estate rose 6 percent. Help wanted and automotive classified declined 9 percent and 11 percent, respectively. Interactive revenues, which are primarily included in classified, were $20 million, up 25 percent, due to strength in all categories.
Circulation revenues were down 6.0 percent due largely to continued selective home delivery discounting.
Broadcasting and entertainment group revenues in October increased 8.4 percent to $111 million, compared with $102 million last year. Television revenues rose 5.1 percent; strength in political, auto and telecom was partially offset by weakness in restaurant/fast food, movies and retail. Radio/entertainment increased 36.7 percent primarily due to additional Cubs home games this year.
The company also said that preliminary revenue estimates for period 11, which ended Nov. 19, are more favorable than the period 10 results for both publishing and television compared to last year.