Tribune Second-Quarter Revenues Fall
August 29, 2013 at 4:22 PM (PT)
TRIBUNE COMPANY second-quarter 2013 consolidated operating revenues fell 10% to $86 million and broadcasting revenues dropped $66 million to $260 million, with $41 million of the slip due to one-time copyright royalty revenues in 2012; without the copyright royalties, broadcasting revenue fell 9%. Radio revenues from Talk WGN-A/CHICAGO are not broken out from the broadcasting division revenues.
"While our second-quarter financial results reflect many of the same challenges faced by the other companies in our sector, we have made substantial progress strategically repositioning TRIBUNE for long-term growth." said President/CEO PETER LIGUORI. "We have stabilized our publishing business and remain focused on the advantages of scale which will be generated by our pending acquisition of LOCAL TV HOLDINGS. Importantly, we continue to work on developing compelling original programming content, improving the capabilities of our digital assets, and increasing the profitability and cash flows of our equity investments and real estate portfolio."