By: E&P Staff
Tribune reported today that publishing revenues for the month of December declined 4.1% to $413 million compared with the same period last year. Advertising revenues for the division fell 4.5% to $333 million.
Tribune attributed the slip in ad revenue to the timing of the Christmas holiday and the aftermath of Hurricane Wilma.
Retail advertising dropped 5.2% due to weakness in the department store, electronics, food and drug, and furniture categories. Preprint revenues were also down 4.1%, due to declines at Newsday.
National advertising decreased 9.6% due largely to declines at the Los Angeles Times. Movie, technology, and wireless categories were down.
Classified revenues grew 2.5% due to gains in help wanted and real estate, up 13% and 21% respectively. Automotive slipped 16%. Interactive revenues, which are primarily included in classified, were up 33% to $15 million.
Circulation revenues dropped 3.5% due to volume declines at most of the company’s newspapers and selectively higher discounting.
Tribune’s broadcasting and entertainment group reported that revenues decreased 11.9% to $126 million. Television revenues declined 10.1%.
Tribune’s consolidated revenues for the month were down 6.1% to $539 million.