Tribune Company (NYSE: TRB) today reported its summary of revenues and newspaper advertising volume for period 11, ended Nov. 20, 2005. Consolidated revenues for the period were $437 million, down 3.9 percent from last year’s $455 million.
Publishing revenues in November were $330 million compared to last year’s $339 million; Hurricane Wilma in South Florida accounted for about $4 million of the decline. Advertising revenues decreased 2.4 percent to $263 million, compared with $269 million in November 2004.
- Retail advertising revenues decreased 3.3 percent as weakness in the furniture/home furnishings, department store and electronics categories were partially offset by increases in the hardware/home improvement and personal services categories. Preprint revenues, which are principally included in retail, were down 2.7 percent, due entirely to volume declines at Newsday.
- National advertising revenues declined 6.0 percent, due in large part to a soft period at the Los Angeles Times. Declines in the wireless, auto and technology categories were partially offset by gains in the financial and health care categories.
- Classified advertising revenues rose 1.6 percent due to gains in help wanted and real estate, which rose 8 percent and 15 percent, respectively. Automotive classified advertising fell 18 percent. Interactive revenues, which are primarily included in classified, were $15 million, up 36 percent, due to strength in all categories.
Circulation revenues were down 5.1 percent primarily due to volume declines at most of the company’s newspapers, selectively higher discounting and hurricane impact.
Broadcasting and entertainment group revenues in November decreased 7.7 percent to $107 million, compared with $116 million last year. Television revenues declined 8.6 percent as advertising revenue remains soft in most markets. Weakness in the automotive, retail and telecom categories was partially offset by increases in education and professional services. Radio/entertainment revenues were up 7.6 percent due to increases at the Chicago Cubs.
Media Week Conferences
Dennis FitzSimons, Tribune chairman, president and chief executive officer; Scott Smith, Tribune Publishing president; and John Reardon, Tribune Broadcasting president will present at the UBS and Credit Suisse First Boston Media Week conferences in New York City on Wednesday, Dec. 7, at the Grand Hyatt at 9:00 a.m. ET (8:00 a.m. CT, 6:00 a.m. PT) and at the Crowne Plaza Hotel at 11:15 a.m. ET (10:15 a.m. CT, 8:15 a.m. PT).
Live webcasts of the presentations will be available through Tribune Company’s website, www.tribune.com. Archives of the webcasts will be available for four weeks.