Tribune Co. 1Q Profit Falls 30 Percent

By: Robert Channick | Chicago Tribune

Tribune Co. said Tuesday that its net income declined by 30 percent in the first quarter, as gains in broadcast revenues were offset by double-digit publishing declines and higher expenses.

Net income was $41.1 million, or 41 cents per share, compared with $58.4 million, or 58 cents per share a year ago. Tribune Co. had an operating profit of $74 million, an 11 percent decline.