Tribune Company (NYSE: TRB) today reported its summary of revenues and newspaper advertising volume for period 5, ended May 22, 2005. Consolidated revenues for the period were $458 million, down 1.9 percent from last year’s $467 million.
Publishing revenues in May were $323 million, 0.6 percent lower than last year’s $325 million. Advertising revenues increased 0.3 percent to $256 million, compared with $255 million in May 2004. Total advertising inches were down 0.2 percent, while preprint pieces increased 5.8 percent. Excluding Newsday, which implemented lower ad rates as the result of the significant reduction in reported circulation in September 2004, advertising revenues were up 2.0 percent.
- Retail advertising revenues decreased 0.9 percent as declines in the department store, food & drug, restaurant, hardware/home improvement and electronics categories were offset by growth in the auto supply, furniture/home furnishings, apparel/fashion and general merchandise categories. Preprint revenues, which are principally included in retail, were up 5 percent.
- National advertising revenues decreased 5.0 percent as declines in the telecom, transportation, resorts and auto categories were partially offset by growth in the financial, technology, movies and package goods categories.
- Classified advertising revenues rose 5.5 percent due to gains in real estate and help wanted, up 16 and 11 percent, respectively. Auto classified advertising fell 6 percent. Interactive revenues, which are primarily included in classified, were $14 million, up 43 percent, due to strength in all categories.
Circulation revenues were down 9.4 percent primarily due to volume declines at each of the company’s newspapers.
Broadcasting and entertainment group revenues in May were down 4.6 percent to $135 million, compared with $141 million last year. Television revenues decreased 7.5 percent as advertising revenue remains soft in most markets. Weakness in the auto, movie and retail categories were partially offset by increases in education and food. Television revenues in New York, Los Angeles, Chicago and Boston continue to be impacted by Local People Meters. Radio/entertainment revenues increased 8.1 percent due to improved results at the Cubs.