Tribune Media Reports Third Quarter 2015 Results
November 10, 2015 at 4:50 AM (PT)
TRIBUNE MEDIA COMPANY has reported its results for the three months and nine months ended SEPTEMBER 30, 2015. The company owns News-Talk WGN-A/CHICAGO, but doesn't break out the radio segment separately.
Q3 Highlights (As compared to the three months ended SEPTEMBER 28, 2014)
- Consolidated operating revenue grew 3% to $488.6 million.
- Excluding political revenues, consolidated operating revenue grew 7% to $483.0 million.
- Television and Entertainment segment revenue grew 3% to $429.7 million, driven by increased core advertising (excluding political revenues) and increased carriage and retransmission consent fees.
- Basic and diluted earnings per share from continuing operations of $0.29.
- Consolidated operating profit decreased 30% to $38.8 million.
- Consolidated Adjusted EBITDA decreased 13% to $112.1 million, primarily due to a decrease in political advertising due to 2015 being an off-cycle political year.
- Cash distributions received from equity investments of $32.0 million.
- Quarterly cash dividend declared of $0.25 per common share.