Tribune Co., owner of the Los Angeles Times and KTLA (Channel 5), reported Wednesday that its February revenues dipped slightly, partly due to circulation declines at The Times and the introduction of people meters in Los Angeles and other markets.
The Chicago-based company reported $420 million in revenues for February 2005, down from $421 million for the like period a year earlier. Publishing revenues increased to $321 million from $317 million, while broadcasting revenues declined to $99 million from $104 million. The Tribune does not break out earning figures in its monthly revenue statements.
The company said newspaper circulation revenues decreased 8.4 percent from 2004 levels, mainly because of declines in home deliveries of the Los Angeles Times and because of corrections to inflated circulation figures at Newsday, its Long Island, N.Y. newspaper.
Radio and entertainment revenues fell 19 percent due in part to fewer syndicated shows produced by Tribune Entertainment Company. Television stations in New York, Los Angeles, Chicago and Boston also experienced stagnant revenues in part because of the introduction of Local People Meters by Nielsen Media Research Inc. Tribune and other broadcast companies say the meters have resulted in lower reported viewership than the diary system Nielsen used before last year.
Tribune Co. said newspaper advertising revenues increased 4.2 percent from 2004 levels at papers excluding Newsday, which lowered advertising rates after admitting that it had overstated circulation figures.
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