Tribune Takes a Hit in December

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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.

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