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TRIBUNE REVENUES INCREASED 3.5% IN JULY
TO BUSINESS EDITOR:
Publishing Revenues Up 2.8%; Television Revenues Up 4.3%
CHICAGO, Aug. 19 /PRNewswire-FirstCall/ -- Tribune Company (NYSE: TRB) today reported its summary of revenues and newspaper advertising volume for period 7, ended Aug. 3, 2003. Consolidated revenues for the period were $508 million, up 3.5 percent from last year's $491 million.
Publishing revenues in July were $356 million, 2.8 percent higher than last year's $346 million. Advertising revenues increased 3.3 percent to $271 million, compared with $262 million in July 2002. Total advertising inches were up 3 percent, while preprint pieces grew 9 percent.
-- Retail print advertising revenues increased 6 percent due to gains in most categories, led by home furnishings and food, which were partially offset by decreases in department stores and electronics. Preprint revenues, which are principally included in retail, were up 8 percent. Full run retail linage was up 1 percent.
-- National print advertising revenues rose 2 percent due to strength in high-tech and financial, partially offset by movies/entertainment and auto manufacturers; full run national volume was up 5 percent.
-- Classified print advertising revenues were flat due to softness in help wanted, which was down 10 percent. Auto and real estate were up 2 percent and 13 percent, respectively. Full run classified volume was up 4 percent in the period.
-- Interactive revenue increased 19 percent due mainly to gains in classified.
Broadcasting and Entertainment group revenues increased 5.3 percent to $152 million, compared with $145 million in July 2002. Television revenues increased 4.3 percent. Excluding WTTV-Indianapolis, acquired in July 2002, and KPLR in St. Louis and KWBP in Portland, both acquired in March 2003, television revenues were flat. WB and Fox stations' advertising revenues increased 2 percent. Radio/Entertainment revenues improved 8.1 percent primarily due to an increase at the Chicago Cubs.
This press release contains certain comments or forward-looking statements that are based largely on the company's current expectations and are subject to certain risks, trends and uncertainties. Such comments and statements should be understood in the context of Tribune's publicly available reports filed with the SEC, including the most current 10-Q and 10-K that contain a discussion of various factors that may affect the company's business. These factors could cause actual future performance to differ materially from current expectations.
Tribune Company is not responsible for updating the information contained in this press release beyond the published date, nor for changes made to this document by wire services or Internet service providers. More information on Tribune is available on the Internet at www.tribune.com .
TRIBUNE (NYSE: TRB) is one of the country's premier media companies, operating businesses in broadcasting and publishing. It reaches more than 80 percent of U.S. households, and is the only media company with television stations, newspapers and Web sites in the nation's top three markets. In publishing, Tribune operates 12 market-leading daily newspapers such as the Los Angeles Times, Chicago Tribune and Newsday plus a wide range of targeted publications including Spanish-language newspapers. In broadcasting, Tribune properties include 26 television stations and Superstation WGN on national cable. These publishing and broadcasting interests are complemented by high- traffic news and information Web sites in 20 of the nation's top 30 markets.
TRIBUNE COMPANY
SUMMARY OF REVENUES (Unaudited)
For Period 7 Ended August 3, 2003
(In thousands)
Period 7 (5 weeks) Year-to-Date (31 weeks)
2003 2002 % 2003 2002 %
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Publishing
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Advertising
Retail $ 108,928 $ 102,712 6.1 $ 722,300 $ 698,092 3.5
National 63,239 62,138 1.8 444,462 415,120 7.1
Classified 90,363 90,418 (0.1) 573,181 584,378 (1.9)
Interactive 8,453 7,086 19.3 51,666 44,758 15.4
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Sub-Total 270,983 262,354 3.3 1,791,609 1,742,348 2.8
Circulation 62,711 63,178 (0.7) 397,883 398,722 (0.2)
Other 22,336 20,934 6.7 153,756 140,321 9.6
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Segment
Total(A)(B) 356,030 346,466 2.8 2,343,248 2,281,391 2.7
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Broadcasting &
Entertainment
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Television(C) 113,377 108,653 4.3 756,484 680,854 11.1
Radio/Enter. 38,926 35,996 8.1 148,274 143,061 3.6
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Segment Total(D) 152,303 144,649 5.3 904,758 823,915 9.8
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Consol. Rev.(E) $ 508,333 $ 491,115 3.5 $3,248,006 $3,105,306 4.6
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(A)Publishing revenues for 2002 have been reclassified to conform with the 2003 presentation. There was no effect on total revenues.
(B)Includes Chicago magazine, acquired in August 2002. Excluding this acquisition, publishing revenues increased 2.3% for the period and 2.4% for the year-to-date. Excluding this acquisition, retail revenues increased 4.9%, national revenues increased 1.6% and total advertising revenues increased 2.8% for the period. Excluding this acquisition, retail revenues increased 2.6%, national revenues increased 7.0% and total advertising revenues increased 2.5% for the year-to-date.
(C)Includes WTTV-TV, Indianapolis, acquired in July 2002, KPLR-TV, St. Louis and KWBP-TV, Portland, both acquired in March 2003. Excluding these acquisitions, television revenues were flat for the period and increased 7.3% for the year-to-date.
(D)Excluding acquisitions, broadcasting and entertainment revenues increased 2.3% for the period and 6.7% for the year-to-date.
(E)Excluding acquisitions, consolidated revenues increased 2.3% for the period and 3.5% for the year-to-date.
TRIBUNE COMPANY
SUMMARY OF NEWSPAPER ADVERTISING VOLUME (Unaudited)(A)
For Period 7 Ended August 3, 2003
(In thousands)
Period 7 (5 weeks) Year-to-Date (31 weeks)
2003 2002 % 2003 2002 %
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Full Run
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L.A. Times 235 228 3 1,517 1,483 2
Chicago Tribune 203 194 5 1,291 1,241 4
Newsday 144 146 (1) 891 944 (6)
Other Dailies (B) 1,257 1,206 4 8,029 7,876 2
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Total 1,839 1,774 4 11,728 11,544 2
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Part Run
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L.A. Times 574 555 3 3,434 3,296 4
Chicago Tribune 498 517 (4) 3,298 3,161 4
Newsday 174 150 16 1,096 998 10
Other Dailies (B) 534 533 - 3,652 3,639 -
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Total 1,780 1,755 1 11,480 11,094 3
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Total Advertising Inches
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Full Run
Retail 518 511 1 3,395 3,489 (3)
National 328 312 5 2,222 2,057 8
Classified 993 951 4 6,111 5,998 2
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Sub-Total 1,839 1,774 4 11,728 11,544 2
Part Run 1,780 1,755 1 11,480 11,094 3
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Total 3,619 3,529 3 23,208 22,638 3
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Preprint Pieces
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L.A. Times 261,862 229,891 14 1,687,649 1,538,112 10
Chicago Tribune 289,868 242,371 20 1,875,637 1,720,125 9
Newsday 226,321 233,259 (3) 1,615,554 1,557,228 4
Other Dailies (B) 315,332 301,986 4 2,178,810 2,055,526 6
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Total 1,093,383 1,007,507 9 7,357,650 6,870,991 7
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(A)Volume for 2002 has been modified to conform with the 2003 presentation. Volume is based on preliminary internal data, which may be updated in subsequent reports. Advertising volume is presented only for daily newspapers.
(B)Other daily newspapers include The Baltimore Sun, South Florida Sun-Sentinel, Orlando Sentinel, The Hartford Courant, The Morning Call, Daily Press, The Advocate and Greenwich Time.
SOURCE Tribune Company
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