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Publishing Advertising Revenues Down 4.5%; Television Revenues Down 10.1%
CHICAGO, Jan. 19 /PRNewswire-FirstCall/ -- Tribune Company (NYSE: TRB)
today reported its summary of revenues and newspaper advertising volume for
period 12, ended Dec. 25, 2005. Consolidated revenues for the period were
$539 million, down 6.1 percent from last years $574 million.
Publishing revenues in December were $413 million compared to last years
$431 million; the timing of the Christmas holiday on Sunday and the aftermath
of Hurricane Wilma in South Florida accounted for about $6 million of the
decline. Advertising revenues decreased 4.5 percent to $333 million, compared
with $349 million in December 2004.
-- Retail advertising revenues decreased 5.2 percent as weakness in the
department store, electronics, food and drug and furniture/home
furnishings categories were partially offset by increases in the
personal services and hardware/home improvement categories. Preprint
revenues, which are principally included in retail, were down 4.1
percent, due primarily to volume declines at Newsday.
-- National advertising revenues declined 9.6 percent, due largely to
declines at the Los Angeles Times. Movie, technology and wireless
categories were down, partially offset by gains in the health care and
package goods categories.
-- Classified advertising revenues rose 2.5 percent due to gains in help
wanted and real estate, which rose 13 percent and 21 percent,
respectively. Automotive classified advertising fell 16 percent.
Interactive revenues, which are primarily included in classified, were
$15 million, up 33 percent, due to strength in all categories.
Circulation revenues were down 3.5 percent primarily due to volume
declines at most of the companys newspapers and selectively higher
discounting.
Broadcasting and entertainment group revenues in December decreased 11.9
percent to $126 million, compared with $143 million last year. Television
revenues declined 10.1 percent as advertising revenue remains soft in most
markets. Weakness in telecom, automotive and food was partially offset by
increases in the financial and education categories. Radio/entertainment
revenues decreased 37.3 percent primarily due to lower syndication revenues at
Tribune Entertainment.
This press release contains certain comments or forward-looking statements
that are based largely on the Companys current expectations and are subject
to certain risks, trends and uncertainties. Such comments and statements
should be understood in the context of Tribunes publicly available reports
filed with the Securities and Exchange Commission ("SEC"), including the most
current annual 10-K report and quarterly 10-Q report, which contain a
discussion of various factors that may affect the companys business or
financial results. These factors could cause actual future performance to
differ materially from current expectations. Tribune Company is not
responsible for updating the information contained in this press release
beyond the published date, or for changes made to this document by wire
services or Internet service providers. The Companys next 10-K report to be
filed with the SEC may contain updates to the information included in this
release.
TRIBUNE (NYSE: TRB) is one of the countrys top media companies, operating
businesses in publishing and broadcasting. It reaches more than 80 percent of
U.S. households and is the only media organization with newspapers, television
stations and websites in the nations top three markets. In publishing,
Tribune operates 11 leading daily newspapers including the Los Angeles Times,
Chicago Tribune and Newsday, plus a wide range of targeted publications such
as Spanish-language Hoy. The companys broadcasting group operates 26
television stations, Superstation WGN on national cable, Chicagos WGN-AM and
the Chicago Cubs baseball team. Popular news and information websites
complement Tribunes print and broadcast properties and extend the companys
nationwide audience.
TRIBUNE COMPANY
SUMMARY OF REVENUES (Unaudited)
For Period 12 Ended December 25, 2005
(In thousands)
Period 12 (5 weeks)
2005 2004 %
---------- ---------- ---
Publishing
----------
Advertising
Retail $ 166,216 $ 175,415 (5.2)
National 81,575 90,270 (9.6)
Classified 85,434 83,323 2.5
---------- ----------
Sub-Total 333,225 349,008 (4.5)
Circulation 56,418 58,479 (3.5)
Other 23,371 23,694 (1.4)
---------- ----------
Segment Total (A) 413,014 431,181 (4.2)
---------- ----------
Broadcasting &
Entertainment
--------------
Television 119,920 133,383 (10.1)
Radio/Entertainment 6,056 9,661 (37.3)
---------- ----------
Segment Total 125,976 143,044 (11.9)
---------- ----------
Consolidated Revenues $ 538,990 $ 574,225 (6.1)
========== ==========
(A) Publishing advertising and other revenues for 2004 have been
reclassified to conform with the 2005 presentation. There was no
effect on total revenues.
TRIBUNE COMPANY
SUMMARY OF NEWSPAPER ADVERTISING VOLUME (Unaudited)(A)
For Period 12 Ended December 25, 2005
(In thousands)
Period 12 (5 weeks)
2005 2004 %
---------- ---------- ---
Full Run
--------
L.A. Times 266 309 (13.9)
Chicago Tribune 211 217 (2.8)
Newsday 138 147 (6.1)
Other Daily Newspapers (B) 1,393 1,387 0.4
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Total 2,008 2,060 (2.5)
========== ==========
Part Run
--------
L.A. Times 460 531 (13.4)
Chicago Tribune 540 542 (0.4)
Newsday 163 180 (9.4)
Other Daily Newspapers (B) 586 600 (2.3)
---------- ----------
Total 1,749 1,853 (5.6)
========== ==========
Total Advertising Inches
------------------------
Full Run
Retail 773 820 (5.7)
National 401 433 (7.4)
Classified 834 807 3.3
---------- ----------
Sub-Total 2,008 2,060 (2.5)
Part Run 1,749 1,853 (5.6)
---------- ----------
Total 3,757 3,913 (4.0)
========== ==========
Preprint Pieces
---------------
L.A. Times 511,690 484,542 5.6
Chicago Tribune 494,259 488,446 1.2
Newsday 268,037 361,946 (25.9)
Other Daily Newspapers (B) 528,104 554,836 (4.8)
---------- ----------
Total 1,802,090 1,889,770 (4.6)
========== ==========
(A) Volume for 2004 has been modified to conform with the 2005
presentation. Volume is based on preliminary internal data, which may
be updated in subsequent reports. Advertising volume is presented
only for daily newspapers.
(B) Other daily newspapers include The Baltimore Sun, South Florida Sun-
Sentinel, Orlando Sentinel, The Hartford Courant, The Morning Call,
Daily Press, The Advocate, Greenwich Time, Hoy, New York, Hoy, Chicago
and Hoy, Los Angeles.
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