Tribune Co. April Ad Revenue Plunges 10.3%

By: E&P Staff Tribune Co. reported Monday that its April 2007 advertising revenues fell 10.3 to $217 million from $242 million a year ago, pushed by softness in all categories including a 20% plunge in real estate classified.

Consolidated revenues for the Chicago media giant in April were down 3.6% to $399 million, Tribune said. Publishing revenues fell 8.6% to $279 million.

Classified advertising revenues dropped 14.9%, Tribune said, with real estate down 20%, mostly on "significant declines in the Florida markets due to difficult year-over-year comparisons."

Help wanted classified fell 13%, and automotive was down 12%.

Interactive revenues, which are mostly included in classified, were up 20% to $21 million on growth in all categories, Tribune said.

Retail advertising revenues decreased 6.8% on weakness in the specialty merchandise, home furnishings and department store
categories that was partially offset by strength in hardware/home improvement ads. April 2007 retail results were hurt by the fact that Easter was early this year, Tribune said.

Preprint revenues, which are principally included in retail, were down 8%, Tribune said.

National advertising revenues declined 8.2% on weakness in the financial and auto categories that was partially offset by strength in movies.

Tribune said circulation revenues were down 7.2% on selective discounting in home delivery, and lower single-copy sales.

Broadcasting and entertainment group revenues in April increased 10.2% to $121 million, primarily due to more Cubs home games in this reporting period. Tribune said its television revenues were off 1.1% on a decrease in political advertising as well as weakness in restaurant/fast food and retail that was partially offset by strength in automotive and movies.