By: E&P Staff
Media conglomerate Tribune Co. said Wednesday its revenue declined in February on weakness in its publishing segment.
The company, whose publishing properties include the Chicago Tribune, the Los Angeles Times and the Baltimore Sun, said consolidated revenue for the period ended March 2 fell 3.4 percent to $385 million from $398 million a year ago.
Publishing revenue slipped 5.1 percent to $294 million, hurt by a 5.1 percent drop in advertising revenue to $233 million. Circulation revenue slid 7 percent on single-copy declines and continued selective discounting in home delivery.
Retail ad revenue gained 1.4 percent, with strength in specialty merchandise, hardware/home improvement and health care, which was partially offset by weakness in department stores.
National advertising revenue dipped 2 percent with weakness in auto, technology and movies categories partially offset by strength in telecom/wireless. Real estate ad revenue slumped 14 percent.
The company’s broadcasting and entertainment group saw its revenue climb 2.4 percent to $90 million.