Tribune Company (NYSE: TRB) today reported its summary of revenues and newspaper advertising volume for period 12, ended Dec. 25, 2005. Consolidated revenues for the period were $539 million, down 6.1 percent from last year’s $574 million.
Publishing revenues in December were $413 million compared to last year’s $431 million; the timing of the Christmas holiday on Sunday and the aftermath of Hurricane Wilma in South Florida accounted for about $6 million of the decline. Advertising revenues decreased 4.5 percent to $333 million, compared with $349 million in December 2004.
- Retail advertising revenues decreased 5.2 percent as weakness in the department store, electronics, food and drug and furniture/home furnishings categories were partially offset by increases in the personal services and hardware/home improvement categories. Preprint revenues, which are principally included in retail, were down 4.1 percent, due primarily to volume declines at Newsday.
- National advertising revenues declined 9.6 percent, due largely to declines at the Los Angeles Times. Movie, technology and wireless categories were down, partially offset by gains in the health care and package goods categories.
- Classified advertising revenues rose 2.5 percent due to gains in help wanted and real estate, which rose 13 percent and 21 percent, respectively. Automotive classified advertising fell 16 percent. Interactive revenues, which are primarily included in classified, were $15 million, up 33 percent, due to strength in all categories.
Circulation revenues were down 3.5 percent primarily due to volume declines at most of the company’s newspapers and selectively higher discounting.
Broadcasting and entertainment group revenues in December decreased 11.9 percent to $126 million, compared with $143 million last year. Television revenues declined 10.1 percent as advertising revenue remains soft in most markets. Weakness in telecom, automotive and food was partially offset by increases in the financial and education categories. Radio/entertainment revenues decreased 37.3 percent primarily due to lower syndication revenues at Tribune Entertainment.