By: Staff reports
Interactive Group Loses $11 Mil In 1st Quarter
(Mediaweek) Tribune Co., corporate parent of the Chicago Tribune, on Friday reported first
quarter net income advanced 18% to $86 million, versus $73 million a year earlier, on the
power of stronger broadcasting and entertainment profits.
With four daily newspapers and 22 major market TV stations, the Chicago-based company posted
diluted earnings per share 19 percent higher to a record 32 cents, excluding non-operating
The company, whose acquisition of Times Mirror Co. is pending, said operating profit grew 9%
to a first quarter record of $171 million. Broadcasting and entertainment operating profit was
up 33% to $84 million, as publishing profits increased slightly to $109 million. Education
operations, being evaluated for possible sale, reported a first quarter operating loss of $2
million, double the year-earlier figure.
Tribune Interactive reported a first quarter operating loss of $11 million, versus $5 million a
year earlier, mostly due to planned increases in development spending. In the quarter Tribune
generated a $13 million pretax gain on the sale of America Online shares, enough to lift diluted
per share earnings by 3 cents and offset interactive losses.
Quarterly net losses from the WB TV network and BrassRing Inc. decreased to $12 million, from
$14 million in first quarter 1999.
Previous 1st quarter earnings reports:
NEW YORK TIMES CO. STARTS 2000 RIGHT (04/14/00)
DOW JONES BLOWS AWAY EXPECTATIONS (04/12/00)
MEDIA GENERAL REPORTS 31% EPS INCREASE (04/11/00)
CATEGORY TV LEADS SCRIPPS EARNINGS (04/11/00)
GANNETT REPORTS FIRST QUARTER EARNINGS (04/10/00)
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