TRIBUNE POSTS EARNINGS DECLINE

By: Staff Reports Publishing Ad Revenue Rose 2%





Third-quarter earnings at the Tribune Co. were down but still exceeded Wall Street's expectations.



The company said it earned $79.2 million, a 33% decline, or 22 cents a share, compared with 32 cents in the year-earlier quarter. Analysts by First Call Corp. were looking for 21 cents EPS.



Publishing ad revenue, excluding the effects of the Times Mirror Co. acquisition, rose only 2% to $774 million. Newspaper operating profit declined 4% to $164 million due to higher newsprint costs.



Excluding station acquisitions, television revenue and EBITDA both rose 2% amid difficult comparisons with the year-ago quarter.



The company also announced it would sell Times Mirror Magazines to Time Inc. for $475 million, continuing its sell-off of non-core assets.







3rd Quarter Earnings Reports:



McCLATCHY EARNINGS MEET EXPECTATIONS (10/17/00)

KNIGHT RIDDER PROFITS FLAT IN THIRD QUARTER (10/17/00)

NEW YORK TIMES CO. MEETS ANALYSTS' EXPECTATIONS (10/12/00)

DOW JONES' ELECTRONIC PUBLISHING REVENUE UP 10% (10/12/00)

ACQUISITION EXPENSES TEMPER EARNINGS AT GANNETT (10/11/00)

BROADCAST UNITS DRIVE EARNINGS AT SCRIPPS (10/10/00)







Copright 2000, Editor & Publisher.