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Tribune TV Revs Down - Broadcasting & Cable

Tribune TV Revs Down

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Tribune says its third-quarter TV revenues were down 3% to 278 million from the same quarter in 2005, with operating expenses up 3% to $5 million thanks to a boost in broadcast rights payments and $1 million in stock compensation to employees.

At least it did not have the $2 million in Katrina-related expenses at its New Orleans stations that were part of that 3Q 2005 expense figure.

Operating cash flow was $86 million, down 15% from $101 million in 2005. Profit was down 18% of $74 million from $90 million in 3Q 2005.

Tribune said station revenues in L.A. were up due to political advertising, but down for the quarter in New York and Chicago. The station revenue decrease was attributed to declines in retail, health care, auto and restaurant ads, partially offset by gains in movies, telecom and education spots.

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