Posted on 01/19/2006 1:37:33 PM PST by abb
CHICAGO (AP) Shares in Tribune Co. tumbled Thursday after the media company reported a 6.1% drop in revenue last month on declines in both its newspaper and television businesses.
Tribune, whose holdings include 26 television stations, 11 urban U.S. dailies and Spanish-language Hoy, said December revenue fell to $539 million from $574 million a year earlier.
The company's stock fell $1.01, or 3.2%, to $30.80 in afternoon trading on the New York Stock Exchange. Tribune shares sank 28% in 2005.
Revenue from the publishing unit, consisting of its newspapers, dipped 4.2% to $413 million from $431 million in December 2004. The company said about $6 million of that $18 million drop was due to the timing of Christmas on Sunday and the aftermath of Hurricane Wilma in Florida.
Advertising revenue in the publishing division fell 4.5%to $333 million, down from $349 million. The decline included a 5.2% decrease in retail ad revenue and a 9.6% decline in national ad revenue, mainly at the Los Angeles Times. Classified ad revenue edged up 2.5%.
Circulation revenue was down 3.5%, the company said, citing volume declines at most of its newspapers and selectively higher discounting.
Broadcasting and entertainment group revenue in December declined 11.9% to $126 million, compared with $143 million last year. Television revenue fell 10.1% on weak ad revenue in most markets.
online advert ping.
Now known as the OSM (oldstream media).
Awe, damn!
Mark Steyn's column appears in the Sun-Times, right?
Maybe they'll ask the Blogsters for a truce.
SAP = Stone Age Press
You are correct.
I see my boycott is working.
If a MSM outlet dies in the woods and there is no reporter there to report it - Does it make a sound?
So a storm in Florida hurts circulation in Chicago?
(Yes, I know, they own the Orlando paper and one in the Miami area, but they have 2 TV stations in New Orleans and they don't complain about that hurting their bottom line. It looks like they were reaching for excuses for poor results in particular markets.)
You wish.
These are hardcore leftists watching their industry evaporate, they have seen this before and will see it again. Here is where they are going, the great ether that destroyed their great printing press. As soon as external market forces moves them from their current position in the universe they will invade the ether like a toxic spill in a glacial pond.
The right is quick on its feet and moves the world, these leftists are moved by the world and pollute any new area that they are forced into. There will be significant cross contamination and superb Machiavellian trickery in the coming decades as the communists mutate into a form that can survive the scrutiny of the vox populi here in the ether.
They are not going anywhere, just being forced to change into something that can survive without actually working.
After all they are radical environmentalists and they must be quite happy they won't have to cut down so many trees!
And I am happy too...but not for the same reason.
Good. Then, let the Tribune shrivel away.
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