Tribune Co. Ad Revenues Plunge 10.3% In July

By: E&P Staff Tribune Co. reported Friday that its advertising revenues dropped 10.3% in July, on double-digit declines in classified ad revenues -- including a 24% fall-off in real estate classified.

Total revenues for its period seven ended Aug. 5 were $467 million, down 5.9% from last year. Newspaper and publishing revenues fell 8.6% in the month.

Classified advertising revenues plunged 18.2%, with real estate down 24% on serious declines in the Florida, Los Angeles, and Chicago markets. Tribune said the results were further weakened by difficult year-over-year comparisons.

Help-wanted classified revenues fell 19%, and automotive was down 14%.

Retail was another weak category, with revenues off 6% on declines in the department stores and home furnishings categories, partially offset by improvements in the health care and restaurant categories.

Preprint revenues, which are principally included in retail, were up 3% for the period, Tribune said.

National advertising revenues fell 3.7%, with declines in auto, financial and resorts, partially offset by an improvement in the movie category, the Chicago media giant said.

Interactive revenues, which Tribune mostly lumps in with classified, jumped 11% to $24 million on growth in all categories.

Circulation revenues were down 5.4%, which Tribune said was due to a decline in single-copy sales, and "continued selective discounting" in home delivery.

Broadcasting and entertainment group revenues in July were flat at $147 million, Tribune said, with a decrease in television revenues offset by increased revenues at the Chicago Cubs and Tribune Entertainment.