Tribune Co. Reports Sharp August Declines As Classified Plunges

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By: E&P Staff

August advertising revenue at Tribune Co. fell 7.2% to $210 million for its publishing division. Total revenue at the division dropped 6.1% to $271 million compared to August 2006.

Retail advertising revenue slipped 0.6% on improvements in the hardware/home improvement stores, food and drug stores, and home furnishings categories. Preprint revenue, included in retail results, grew 1.9%.

National advertising was down 2.8% with increases in the financial and telecommunications categories.

Classified advertising plummeted 20.1%. Within the category, real estate tumbled 30.4% with the most significant declines at the company’s Los Angeles, Chicago, and Florida properties due to difficult year-over-year comparisons.

Help wanted fell 21.7%. Automotive decreased 7.1%. Interactive revenues, which are mostly included in classified, grew 15% to $21 million.

Circulation revenue dropped 4.8% due to single-copy declines and selective discounting.

For its broadcasting division, total revenue declined 3% to $121 million. Overall, Tribune reported that total revenues decreased 5.2% to $391 million.

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