Tribune Company (NYSE: TRB) today reported its summary of revenues and newspaper advertising volume for period 4, ended Apr. 23, 2006. Consolidated revenues for the period were $424 million, down 3.0 percent from last year’s $437 million.
Publishing revenues in April were $309 million compared to last year’s $317 million, down 2.7 percent. Advertising revenues decreased 2.0 percent to $245 million, compared with $250 million in April 2005. Advertising revenues in April were negatively impacted by the timing of the Easter holiday. Combined advertising revenues for March and April were flat compared to 2005; excluding Newsday, combined advertising revenues for March and April increased 2 percent.
- Retail advertising revenues were down slightly with weakness in the department stores, furniture/home furnishings and several other retail categories offset by gains in specialty merchandise, personal services and amusements. Preprint revenues, which are principally included in retail, were flat. Excluding Newsday, preprint revenues increased 6 percent.
- National advertising revenues declined 11.8 percent principally due to lower movies, resorts and automotive advertising.
- Classified advertising revenues rose 2.0 percent. Real estate rose 24 percent, while help wanted and automotive classified fell 5 percent and 12 percent, respectively. Interactive revenues, which are primarily included in classified, were $18 million, up 23 percent, due to strength in all categories.
Circulation revenues were down 5.3 percent. Selective discounting continued as part of the company’s strategy to stabilize individually paid circulation.
Broadcasting and entertainment group revenues in April decreased 3.9 percent to $116 million, compared with $120 million last year. Television revenues declined 2.0 percent; weakness in restaurant/fast foods and movies was partially offset by strength in telecom and education. Radio/entertainment revenues decreased 13.3 percent due to fewer Cubs home games (six in April 2006 compared with seven home games last year) and lower syndication revenues at Tribune Entertainment.