Tribune Company (NYSE: TRB) today reported its summary of revenues and newspaper advertising volume for period 7, ended July 31, 2005. Consolidated revenues for the period were $514 million, down 1.7 percent from last year’s $523 million.
Publishing revenues in July were $360 million, 0.7 percent lower than last year’s $362 million. Advertising revenues increased 1.5 percent to $282 million, compared with $278 million in July 2004. Total advertising inches were down 3.3 percent, while preprint pieces increased 3.3 percent. Excluding Newsday, which implemented lower ad rates in September 2004as the result of the significant reduction in reported circulation, advertising revenues were up 2.7 percent.
- Retail advertising revenues increased 1.2 percent as gains in the hardware/home improvement store, restaurant and general merchandise categories were offset by declines in the amusement, department store, food & drug and apparel/fashion categories. Preprint revenues, which are principally included in retail, were up
- National advertising revenues decreased 1.7 percent as declines in the movie, media, transportation and technology categories were partially offset by growth in the financial, wireless and package goods categories.
- Classified advertising revenues rose 3.7 percent due to gains in help wanted and real estate, which rose 13 and 9 percent, respectively. Auto classified advertising fell 6 percent. Interactive revenues, which are primarily included in classified, were $17 million, up 49 percent, due to strength in all categories.
Circulation revenues were down 8.2 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 July were down 3.9 percent to $154 million, compared with $160 million last year. Television revenues decreased 7.8 percent as advertising revenue remains soft in most markets. Weakness in the movie, telecom and retail categories was partially offset by increases in education and financial. Television revenues in New York, Los Angeles, Chicago and Boston continue to be impacted by Local People Meters. Radio/entertainment revenues increased 7.7 percent due to improved results at the Chicago Cubs.