Tribune TV Revs Off Slightly

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Revenues at Tribune Television were down 1% in the second quarter to $320 million from $324 million in the same quarter 2005.

Cash flow, essentially net income after expenses and taxes but with noncash items like depreciation added back, was $116 million, down 10% from the same quarter in 2005.

Operating income--profit minus operating expenses--was down 11% to $105 million.

Contributing to the down quarter, said Tribune, were revenue declines in number one market New York and number three Chicago, offsetting gains in number two market, Los Angeles. Auto, retail and film advertising was down, while telecom, education and financial services were up.

Helping push that operating income figure down was a 4% boost in operating expenses including an $8 million increase in rights for programming and $1 million in stock payments to executives, only partially offset by cost cutting.

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