(AP) Newspaper publisher Tribune Co. on Wednesday said its overall revenue fell slightly last month, hurt by declines in circulation and television revenue and lower advertising rates at New York-based Newsday.
Tribune’s July revenue totaled $513.8 million, a decrease of 1.7% from $522.6 million a year earlier. By segment, publishing revenue slipped 0.7% to $359.8 million, and broadcasting and entertainment revenue dropped 3.9% to $154 million.
In its publishing division, newspaper ad revenue grew 1.5% to $281.9 million, with retail ad sales up 1.2% and classifieds demand increasing 3.7%, while national ads fell 1.7%. Total volume declined 3.3%.
Excluding results from Newsday, which decreased ad rates in September 2004 after getting hit by a circulation-inflation scandal, newspaper ad revenue would have grown 3.3%, Tribune added.
Circulation revenue plunged 8.2% to $56.1 million, as volume declined at each of its newspapers, Tribune said.
Meanwhile, broadcasting and entertainment revenue was impacted mostly by a drop in television business, which fell 7.8% to $110.8 million from soft ad demand in most markets. Radio revenue grew 7.7% to $43.2 million.
Year to date, overall revenue is down 1.8% to $3.3 million, with publishing revenue down 0.3% to $2.4 million and broadcast revenue falling 5.5% to $887.7 million.