Tribune Profit Rises on Broadcast Business

Feb 8, 2007  •  Post A Comment

Tribune Co.’s fourth-quarter net income rose 78 percent with help from an extra week of advertising revenue and improved results from its television broadcasting business, among others.

Tribune reported profit of $239.1 million, or 99 cents per share. A year earlier, net income was $134.4 million, or 43 cents per share. Revenue rose 4 percent to $1.47 billion.

Tribune’s TV stations in New York, Los Angeles and Chicago generated higher sales. Group-wide, political, movie, telecom and education advertising rose, while retail fell.

Television revenues for the quarter rose 10 percent to $325 million from last year. Television cash operating expenses were up 9 percent, or $16 million. Television operating cash flow was $119 million, a 12 percent increase from 2005. Television operating profit increased 13 percent to $107 million, up from $95 million.

Tribune has sought buyers for all or some of its properties and recently extended the bidding period, which ended with only three declared bidders.

(Editor: Baumann)