Tribune Company (NYSE: TRB) today reported its summary of revenues and newspaper advertising volume for period 2, ended Feb. 26, 2006. Consolidated revenues for the period were $408 million, down 3.0 percent from last year’s $420 million.
Publishing revenues in February were $314 million compared to last year’s $321 million, down 2.4 percent. Advertising revenues decreased 2.2 percent to $248 million, compared with $254 million in February 2005.
- Retail advertising revenues decreased 4.7 percent with weakness in the food & drug, department store and electronics categories. Preprint revenues, which are principally included in retail, were down 6 percent due primarily to a decline at Newsday. Excluding Newsday, preprint revenues were down 1 percent.
- National advertising revenues declined 11.5 percent principally due to lower automotive and movie advertising.
- Classified advertising revenues rose 7.2 percent due to gains in real estate and help wanted, which rose 35 percent and 5 percent, respectively. Automotive classified advertising fell 11 percent. Interactive revenues, which are primarily included in classified, were $17 million, up 24 percent, due to strength in all categories.
Circulation revenues were down 3.9 percent due to volume declines at most of the company’s newspapers and selectively higher discounting.
Broadcasting and entertainment group revenues in February decreased 4.8 percent to $94 million, compared with $99 million last year. Television revenues declined 5.0 percent; weakness in auto and package goods was partially offset by increases in media and education. Radio/entertainment revenues decreased 0.9 percent primarily due to lower syndication revenues at Tribune Entertainment.