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Tribune Revenues, Profit Fall
February 1, 2006 at 8:21 AM (PT)
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TRIBUNE fourth quarter profit dropped 38% year-to-year to $132.3 million (43 cents/share), battered by ad and circulation drops at the company's newspapers and charges for job cuts. The numbers excluding the job cut charges- 57 cents/share- barely beat WALL STREET estimates of 56 cents/share. Revenue fell 5% to $1.42 billion; broadcasting revenue, which includes the company's only radio property, WGN-A/CHICAGO, as well as TV, fell 11% to $343 million; the radio/entertainment division revenues plummeted 27.6% to $23.723 million due to lower syndication revenues for TRIBUNE ENTERTAINMENT and no playoff games for the CHICAGO CUBS.

