Tribune Revenues Down For Fourth Quarter 2013
March 28, 2014 at 5:39 AM (PT)
TRIBUNE COMPANY fourth quarter 2013 consolidated revenues fell 11% to $773 million, blamed on an extra week in 2012 and a loss of political revenue as well as a $10 million decrease in barter revenues. Broadcasting revenues fell 36 million to $267 million.
Revenues for the company's sole radio operation, Talk WGN-A/CHICAGO, is not reported separately.
Pres./CEO PETER LIGUORI said, "Broadcasting revenue trends during the first three quarters were disappointing. However, in the fourth quarter, non-political core advertising revenue stabilized year over year. Our root challenges are definable and addressable and we have taken action. In the Publishing business, our operational actions have stabilized profitability and we are confident that we are building a solid foundation for this business's future. Overall we are excited by our prospects for Q1 and full year 2014."