Tribune Company (NYSE: TRB) today reported its summary of revenues and newspaper advertising volume for period 2, ended
Feb. 27, 2005. Consolidated revenues for the period were $420 million, down 0.2 percent from last year’s $421 million.
Publishing revenues in February were $321 million, 1.4 percent higher than last year’s
$317 million. Advertising revenues increased 3.2 percent to $254 million, compared with $246 million in February 2004. Total advertising inches were down 2 percent, while preprint pieces increased 14 percent. Excluding New York, which implemented lower ad rates as the result of the significant reduction in reported circulation in September 2004, advertising revenues were up 4.2 percent.
- Retail advertising revenues increased 3.1 percent due to strength in the general merchandise, hardware/home improvement, food and drug, auto supply and department store categories, partially offset by weakness in the other retail and electronics categories. Preprint revenues, which are principally included in retail, were up 10 percent.
- National advertising revenues increased 2.8 percent as strength in the auto, financial, package goods and telecom categories was partially offset by weakness in the transportation, movies and media categories.
- Classified advertising revenues rose 3.6 percent due to gains in help wanted and real estate, up 13 and 9 percent, respectively. Auto classified advertising fell 8 percent. Interactive revenues, which are primarily included in classified, were $14 million, up 49 percent, due to strength in all categories.
Circulation revenues were down 8.4 percent primarily due to declines at the Los Angeles Times and Newsday. Los Angeles was impacted primarily by reductions in home delivery. Newsday was affected by the significant reduction in reported circulation in 2004. Excluding the Los Angeles Times and Newsday, circulation revenues were down
Broadcasting and Entertainment group revenues in February were down 5.0 percent to $99 million, compared with $104 million last year. Television revenues decreased 4.1 percent. Weakness in autos, movies and telecom was partially offset by increases in financial and education. Television revenue was generally soft across most markets and New York, Los Angeles, Chicago and Boston continue to be impacted by Local People Meters; first quarter pacing is down in the mid-single digits. Radio/entertainment revenues fell 19 percent due in part to fewer syndicated shows being produced by Tribune Entertainment Company.