The parent company of the Los Angeles Times reported a $79 million fourth quarter loss as advertising sales declined across all categories.

The Tribune Co.'s loss, released late Thursday, is in sharp contrast to a profit of $233 million a year earlier.

Revenues for the Chicago-based media giant declined 12 percent to $1.27 billion.

Revenues were down widely, including a 13 percent decline in publishing. Advertising was off 15 percent, led by a 25 percent plunge in classified advertising revenue.

The company also said full-year net income was $55 million, down significantly from $661 million for 2006.

Tribune blamed the declines on lower revenues, higher interest expense and other factors as advertising and circulation continued to decline.

Tribune also said it eliminated 700 jobs during the final quarter.

Tribune Co. went private at the end of last year in an $8.2 billion buyout led by Chicago billionaire Sam Zell, but it still reports its financial figures due to its publicly traded debt.

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