Thursday, November 06, 2014

Tribune Publishing

When the Tribune broke off it's newspapers into a seperate company a few months ago (Tribune Publishing), experts speculated that the new company would have a rough go of it. Yesterday they released their first earnings report since the split.

Tribune Publishing operated at roughly break even, recording a tiny net loss (less than a tenth of a percent) on revenues of $404 million. Advertising revenues were down 9.5 percent compared to the same quarter in 2013 when the company was a division of Tribune. National advertising was a particular culprit, down 17.1 percent for the quarter and 12 percent year to date.

It's actually not a terrible first report, considering. On the other hand, I'd look for some layoffs based on the following statement from their CEO...“We have much work to do to get operating margins in line with our peers."