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Summary:

Privately held Tribune isn’t bucking any industry trends… The Sam Zell-owned company has reported Q2 revenue of $1.1 billion, down 5.7 per…

imagePrivately held Tribune isn’t bucking any industry trends… The Sam Zell-owned company has reported Q2 revenue of $1.1 billion, down 5.7 percent from $1.17 billion in the year ago quarter. The company took a $3.8 billion, after-tax, non-cash charge, associated with the 2000 acquisition of Times Mirror — the charge is in keeping with writedowns across the industry, associated with acquisitions in the past few years. Op cash flow fell 2 percent to $221 million.

Publishing revenue was particularly hard hit, falling 11 percent to $701 million. All the usual ad categories were hit hard, as were interactive revenues, which fell 4 percent, or $2 million (meaning a total of $48 million). Weakness in online classifieds contributed to the decline. The broadcasting business managed to hold up, growing 4 percent to $409 million — that’s pretty solid compared to the horrendous results at some broadcasters this quarter.

Release | Tables (.pdf)

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  1. tribune revenues falling -> not a surprise. Zell said himself the Tribune deal was the "deal from hell."

  2. Close a few of the papers in markets where the demographics are more likely to have access to digital & ask them to pay some exorbitant fee if they want a print edition.

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