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Tribune Co. (LA Times, Chicago Trib, etc) 3Q loss of $121.6 million (Dinosaur Media DeathWatch™)
Associated Press ^ | November 10, 2008 | Staff

Posted on 11/10/2008 1:10:31 PM PST by abb

Tribune Co., owner of the Los Angeles Times and Chicago Tribune, says it swung to a third-quarter loss of $121.6 million as newspaper advertising revenue fell.

The loss was a steep decline from profit of $152.8 million a year ago.

Revenue fell nearly 11 percent to $1.04 billion from $1.16 billion last year.

"We are operating in an exceptionally difficult financial and economic environment," said Chief Executive Sam Zell, in a statement, Monday. "The newspaper industry continues to see extraordinary declines in ad revenues, and Tribune is no exception."

(Excerpt) Read more at ap.google.com ...


TOPICS: Business/Economy; Extended News; News/Current Events; Politics/Elections
KEYWORDS: advertising; dbm; newspapers; tribune
Monday afternoon good news.
1 posted on 11/10/2008 1:10:31 PM PST by abb
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To: 04-Bravo; aimhigh; andyandval; Arizona Carolyn; backhoe; Bahbah; bert; bilhosty; Caipirabob; ...

ping


2 posted on 11/10/2008 1:11:03 PM PST by abb ("What ISN'T in the news is often more important than what IS." Ed Biersmith, 1942 -)
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To: abb

3 posted on 11/10/2008 1:11:30 PM PST by abb ("What ISN'T in the news is often more important than what IS." Ed Biersmith, 1942 -)
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To: abb

http://www.marketwatch.com/news/story/Tribune-Reports-2008-Third-Quarter/story.aspx?guid={7113581E-B0B6-4670-A7AD-3F4065FBE312}
Tribune Reports 2008 Third Quarter Results

http://blogs.tampabay.com/media/2008/11/columnist-dan-r.html
Columnist Dan Ruth among several Tampa Tribune staffers laid off today


4 posted on 11/10/2008 1:12:22 PM PST by abb ("What ISN'T in the news is often more important than what IS." Ed Biersmith, 1942 -)
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To: abb

How long before some idiot in DC introduces a bill to bail out the failing members of the MSM?


5 posted on 11/10/2008 1:12:37 PM PST by nufsed
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To: abb

The NY Times announced it was taking a big charge on the New England newspapers it owns due to declining ad revenue.

HA HA


6 posted on 11/10/2008 1:13:00 PM PST by misterrob (Smooth talkers win at singles bars and in politics .. often with similar outcomes for the listener)
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To: abb
And this was during the Obama Love Fest when sales were up so people could read about "the one".

It's going to go even more downhill from here.

7 posted on 11/10/2008 1:13:34 PM PST by softwarecreator (Wow, free food, free gas and no more mortgage payments after January 2009, thanks Obama!!)
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To: abb
"We are operating in an exceptionally difficult financial and economic environment," said Chief Executive Sam Zell,


8 posted on 11/10/2008 1:14:43 PM PST by martin_fierro (< |:)~)
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To: abb
The loss was a steep decline from profit of $152.8 million a year ago.

That is a $270M turn around! Keep it coming!

9 posted on 11/10/2008 1:14:46 PM PST by mlocher (USA is a sovereign nation)
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To: abb

Their being in the tank for Obigula hasn’t helped them.
People aren’t even buying the liberals rags for the sports pages anymore.


10 posted on 11/10/2008 1:16:38 PM PST by Right Cal Gal (Abraham Lincoln would have let Berkeley leave the Union without a fight)
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To: abb

Couldn’t happen to a more deserving bunch of unAmerican turds.
Hey Times employees, ya can kiss your jobs buh bye.
Maybe you can go spread your lies and made up b.s. somewhere else. course most other rags like yours are laying off too.
Oh well there is always mcDonalds.


11 posted on 11/10/2008 1:16:55 PM PST by Joe Boucher (An enemy of Islam)
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To: martin_fierro

http://cancelthebee.blogspot.com/
The axe is swinging at the Kansas City Star — layoffs said to be “stunning”

http://www.bizjournals.com/wichita/stories/2008/11/10/daily8.html
KC Star lays off about 50


12 posted on 11/10/2008 1:17:17 PM PST by abb ("What ISN'T in the news is often more important than what IS." Ed Biersmith, 1942 -)
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To: abb

This will provide even more incentive to sell the Cubs and Wrigley. That big balloon payment is only months away.


13 posted on 11/10/2008 1:18:15 PM PST by MovementConservative (In 4 years GW Bush and the free-spending republicans have almost completely destroyed the GOP.)
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To: martin_fierro

Check out the terminology!! Death watch! Wonder where they got that from??

http://bottomlinecom.com/currentnews/stunningkcstarlayoffs.html
TOP TALENT AT KC STAR BEING LET GO!!
The Kansas City Star, which has been rocked with layoffs the past several months that have resulted in a reduction of about 100 editorial employees, is in the process today of letting go some of the most recognizable reporters and columnists in the history of the area’s largest newspaper.
The list of the 16 people being terminated reads like a “Who’s Who” of area journalism and is absolutely stunning.
“The newspaper is definitely on a death watch now,” says a source. “These are simply folks who cannot be replaced. These moves will definitely affect the product and circulation.”
We will be releasing the names this afternoon as they are confirmed. Send anonymous tips to feedback@bottomlinecom.com.


14 posted on 11/10/2008 1:19:26 PM PST by abb ("What ISN'T in the news is often more important than what IS." Ed Biersmith, 1942 -)
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To: abb

buggywhips.


15 posted on 11/10/2008 1:19:35 PM PST by HappyinAZ
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To: MovementConservative

And at fire sale prices...


16 posted on 11/10/2008 1:20:00 PM PST by abb ("What ISN'T in the news is often more important than what IS." Ed Biersmith, 1942 -)
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To: abb

I’ve done my little bit against L.A. Times. No subscription to cancel, but I did buy their Sunday editions for YEARS and a few papers during the week at times.

NO MORE! Two months ago I stopped buying L.A. Times completely!


17 posted on 11/10/2008 1:20:02 PM PST by CaliforniaCon
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To: abb

You liberal idiots were in the tank for Obama, and now you’re going down and you’re going to keep going down.

You got what you wanted, now you’re going to go out of existence as you know it.


18 posted on 11/10/2008 1:20:31 PM PST by Secret Agent Man (I'd like to tell you, but then I'd have to kill you.)
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To: abb

I’m sure the dems have a bailout planned for them too. The dems owe the media bigtime for their complicity in electing
them.


19 posted on 11/10/2008 1:23:34 PM PST by soycd
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To: abb

I was really starting to get depressed with all the news about our ObamaNation, but this news helped to brighten my day.


20 posted on 11/10/2008 1:24:31 PM PST by P-Marlowe (LPFOKETT GAHCOEEP-w/o*)
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To: abb

I love this type of news. They’ll get no sympathy from me.


21 posted on 11/10/2008 1:27:47 PM PST by Old Grumpy
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To: abb

bump


22 posted on 11/10/2008 1:28:37 PM PST by OrioleFan (Republicans believe every day is the 4th of July, democrats believe every day is April 15)
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To: abb

May the Tribune which sat on all of Zer0’s criminal activities, associations with anti America terrorists and other bad stuff go belly up before Zer0 can bail them out.


23 posted on 11/10/2008 1:31:36 PM PST by Grampa Dave (Do we trust 0W0N$PENDALOT, Pelo$i, Barnie, Dodd & Reid to leave our 401k's/IRA's alone?)
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To: abb

You know, I used to view this sort of news with mixed feelings. It’s great that the left-wing MSM is getting creamed, but what about the little guys who set type, deliver papers, maintain presses, cleans up the office of the bigshots, or drive the paper forklift and who are the ones who lose their jobs when we see these “Big Newspaper X Lays off 500” headlines? But you know, I’m increasingly coming to view ANY participation in promoting the MSM and its propagandistic stranglehold on the American information system as subversive and un-American, even the little guys who are the cogs that make the machine continue to operate. They’re as much a part of the problem as the editors and producers who determine content and slant. Working for the MSM in any capacity is much like working in a cigarette factory or as a welfare case worker - you become part of the problem that contributes to the enslavement of others.


24 posted on 11/10/2008 1:32:32 PM PST by Titus Quinctius Cincinnatus (Nihil utile nisi quod honestum - Marcus Tullius Cicero)
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To: abb

Wonder what kind of jobs the lib editorial writers are qualified for


25 posted on 11/10/2008 1:32:59 PM PST by uncbob
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To: uncbob
Wonder what kind of jobs the lib editorial writers are qualified for?

"Welcome to Kwik-E-Mart! Would you like to buy a slurpee?"

26 posted on 11/10/2008 1:39:21 PM PST by abb ("What ISN'T in the news is often more important than what IS." Ed Biersmith, 1942 -)
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To: nufsed
That is classic.

DING DING DING DING.

27 posted on 11/10/2008 1:42:35 PM PST by Ultimatum (Stupidity by the left does not constitute giving a free pass by the right.)
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To: abb
Monday afternoon good news.

Kinda. IMO, watch for Big News to cry about loss of revenue and NEEDING A BAILOUT, or else another "important" industry will cease to exist. And Americans NEED their news, right? So Obama comes along, buys up the newspapers and now America OWNS the news outlets. This along with crushing talk radio should make for an interesting four years.
28 posted on 11/10/2008 1:44:00 PM PST by Eagle of Liberty (This nation must not die on our watch.)
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To: Titus Quinctius Cincinnatus

The same thing that happened to monks who used to hand print books and flyers. The now have web sites.


29 posted on 11/10/2008 1:44:36 PM PST by nufsed
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To: HappyinAZ

Buggywhips, Bowling Pin Setters, and Elevator Operators.


30 posted on 11/10/2008 1:49:44 PM PST by Secret Agent Man (I'd like to tell you, but then I'd have to kill you.)
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To: MovementConservative

http://www.chicagotribune.com/business/chicago-cubs-bids-thanksgiving-nov10,0,2325217.story
Cubs: Final bids due by Thanksgiving

http://www.chicagobusiness.com/cgi-bin/news.pl?id=31762
Trib’s $122M loss deepens financial woes


31 posted on 11/10/2008 1:56:09 PM PST by abb ("What ISN'T in the news is often more important than what IS." Ed Biersmith, 1942 -)
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To: Titus Quinctius Cincinnatus
I used to work as a new subscription seller in the office for a liberal rag in Texas and I could not help but laugh when I talked to some potential customers who would say

" I am not going to buy that liberal rag!!!". I would agree with them right off the top even though we were told to tell customers that we had "fair and balanced coverage from so and so".

That, needless to say, would get them in an even bigger rant. I would them put them on speaker for some of my liberal co-workers so they would hear what customers had to say.

32 posted on 11/10/2008 2:16:27 PM PST by Ultimatum (Stupidity by the left does not constitute giving a free pass by the right.)
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To: Milhous; Grampa Dave; Buckhead

http://adage.com/mediaworks/article?article_id=132373
Tribune Online Ad Revenue Declines at Faster Rate Than Circ Revenue

http://www.mediapost.com/publications/?fa=Articles.showArticle&art_aid=94456&art_type=10
Red Ink: E.W. Scripps, ‘Boston Globe’ Swing The Axe

http://www.laobserved.com/biz/2008/11/tribunes_124_million.php
One more troubling number: Operating cash flow decreased 67 percent to $90 million from $268 million in the 2007 quarter. Maintaining adequate cash flow is especially critical for Tribune because that’s what will be required to pare down debt. In some ways, the cash flow numbers are more important than the actual bottom line.


33 posted on 11/10/2008 3:25:38 PM PST by abb ("What ISN'T in the news is often more important than what IS." Ed Biersmith, 1942 -)
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To: abb

That is good news. They made more money than they are worth.


34 posted on 11/10/2008 3:30:08 PM PST by Big Horn (Rebuild the GOP to a conservative party)
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To: abb

http://cancelthebee.blogspot.com/
McClatchy shares fall to all-time low


35 posted on 11/10/2008 3:36:19 PM PST by abb ("What ISN'T in the news is often more important than what IS." Ed Biersmith, 1942 -)
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To: Milhous; Grampa Dave

Tribune may not make the end of the year...

http://www.reuters.com/article/industryNews/idUSTRE4A985Q20081110
Tribune posts loss, Moody’s downgrades Gannett


36 posted on 11/10/2008 4:32:20 PM PST by abb ("What ISN'T in the news is often more important than what IS." Ed Biersmith, 1942 -)
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To: abb

http://www.editorandpublisher.com/eandp/news/article_display.jsp?vnu_content_id=1003889171
Sinking Lee Stock Raises Spectre Of Big Board Sanctions


37 posted on 11/10/2008 4:34:48 PM PST by abb ("What ISN'T in the news is often more important than what IS." Ed Biersmith, 1942 -)
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To: abb

The Blame Bush mantra must have gotten old.


38 posted on 11/10/2008 4:51:39 PM PST by pray4liberty (Always vote for life!)
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To: abb

MAN maybe all those protests on LA Times did effect them eh LOL!


39 posted on 11/10/2008 6:22:30 PM PST by SevenofNine ("We are Freepers, all your media belong to us, resistence is futile")
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To: abb; Milhous; tubebender; BOBTHENAILER; Liz

Great news. The Chicago Tribune has spiked the truth of Zer0Ma0 for about a decade. The LA Slimes withheld the tape of Zer0 honoring the anti America and Israel thug.

Nothing would be finer than seeing the Chi Tribune and LA Slimes go belly up before the end of the year.


Tribune may not make the end of the year...

http://www.reuters.com/article/industryNews/idUSTRE4A985Q20081110
Tribune posts loss, Moody’s downgrades Gannett


40 posted on 11/11/2008 6:48:31 AM PST by Grampa Dave (Do we trust 0W0N$PENDALOT, Pelo$i, Barnie, Dodd & Reid to leave our 401k's/IRA's alone?)
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