Tribune Company (NYSE: TRB) today reported its summary of revenues and newspaper advertising volume for period 8, ended Aug. 28, 2005. Consolidated revenues for the period were $428 million, down
0.9 percent from last year’s $432 million.
Publishing revenues in August were $298 million, 1.9 percent lower than last year’s $303 million. Advertising revenues increased 0.6 percent to $234 million, compared with $233 million in August 2004. Total advertising inches were down 4.5 percent, while preprint pieces increased 0.9 percent. Excluding Newsday, which implemented lower ad rates in September 2004 as the result of the significant reduction in reported circulation, advertising revenues were up 0.9 percent.
- Retail advertising revenues decreased 0.9 percent as declines in the food & drug store, electronics, department store and furniture/home furnishing categories were partially offset by increases in the hardware/home improvement store, education and restaurant categories. Preprint revenues, which are principally included in retail, were up 3 percent.
- National advertising revenues decreased 5.5 percent as declines in the technology, movie, transportation and auto categories were partially offset by growth in the financial, package goods and media categories.
- Classified advertising revenues rose 5.9 percent due to gains in help wanted and real estate, which rose 14 and 12 percent, respectively. Automotive classified advertising fell 4 percent. Interactive revenues, which are primarily included in classified, were $15 million, up 43 percent, due to strength in all categories.
Circulation revenues were down 8.6 percent primarily due to volume declines at each of the company’s newspapers as well as selectively higher discounting.
Broadcasting and entertainment group revenues in August increased 1.5 percent to $131 million, compared with $129 million last year. Television revenues decreased 3.5 percent as advertising revenue remains soft in most markets. Weakness in the movie and retail categories was partially offset by increases in financial/legal and education. Television revenues in New York, Los Angeles, Chicago and Boston continue to be impacted by Local People Meters. Radio/entertainment revenues increased 17.5 percent due to improved results at the Chicago Cubs.