Tribune Sags In Q1
April 20, 2007 at 5:46 AM (PT)
TRIBUNE CO. first quarter overall revenue dropped 4.3% to $1.21 billion and diluted earnings per share from continuing operations fell year-to-year from 32 cents to 8 cents. The company's overall net income sank from a $102.8 million profit to a $15.6 million net loss. Results were hurt by weakness in classified advertising and a 20 cents/share non-operating loss related to a valuation change for the company's stake in TIME WARNER. The broadcasting and entertainment division's first quarter operating revenues dropped slightly from $284 million to $283 million.
TRIBUNE does not report revenues for its sole radio property, Talk WGN-A/CHICAGO, separately. The company recently accepted a buy-out bid from SAM ZELL that involves $8.2 billion plus $5 million in debt.