Tribune Company (NYSE: TRB) today reported its summary of revenues and newspaper advertising volume for period 4, ended April 24, 2005. Consolidated revenues for the period were $437 million, down
2.2 percent from last year’s $447 million.
Publishing revenues in April were $317 million, 0.5 percent lower than last year’s $319 million. Advertising revenues increased 1.0 percent to $250 million, compared with $247 million in April 2004. Total advertising inches were down 0.3 percent, while preprint pieces increased 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 2.1 percent.
- Retail advertising revenues were flat as growth in the furniture/home furnishings, general merchandise, auto supply, and hardware/home improvement store categories was offset by declines in the department store and food & drug store categories. Preprint revenues, which are principally included in retail, were up
- National advertising revenues decreased 7.0 percent as declines in the movies, transportation and technology categories were partially offset by growth in the telecom and media categories.
- Classified advertising revenues rose 8.2 percent due to gains in help wanted and real estate, up 18 and 21 percent, respectively. Auto classified advertising fell 6 percent. Interactive revenues, which are primarily included in classified, were $14 million, up 51 percent, due to strength in all categories.
Circulation revenues were down 8.8 percent primarily due to volume declines at each of the company’s newspapers.
Broadcasting and Entertainment group revenues in April were down 6.5 percent to $120 million, compared with $129 million last year. Television revenues decreased 7.1 percent as advertising revenue remains soft in most markets. Weakness in autos, movies and retail was partially offset by increases in fast food, education and financial. Television revenues in New York, Los Angeles, Chicago and Boston continue to be impacted by Local People Meters. Radio/entertainment revenues fell 3.6 percent due in part to fewer syndicated shows being produced by Tribune Entertainment Company.