Tribune Media Reports Third Quarter 2015 Results

Q3 Financial Report

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.

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