Tribune Co. on Monday filed financial results for 2012, its last year in bankruptcy. In its publishing division, advertising revenues were down 6.7 percent over 2011, and circulation revenues rose 8.75 percent, “driven by subscription price increases and the implementation of digital subscription programs,” Robert Channick writes in The Chicago Tribune.
Circulation revenue declined in 2011 “due to a decline in daily (Monday-Friday) net paid print circulation copies at all newspapers, partially offset by an increase in Sunday net paid print circulation copies at all newspapers except Baltimore,” a management analysis says. “The largest revenue declines in 2011 were at Chicago, South Florida and Hartford.”
“Other” revenues in publishing were up nearly 12 percent in 2012, “due to increased commercial printing revenues and higher insertion and delivery revenues for third party publications, including certain publications of the Sun-Times Media Group, the Wall Street Journal and the New York Times, in the Chicago metropolitan area and other markets, partially offset by a decrease in revenue from direct mail operations.”
Over all, publishing revenue was essentially flat.
Broadcast revenue rose by nearly 4 percent over 2011. “The company’s television, radio and cable assets accounted for 36 percent of revenue and 80 percent of profit in 2012,” Channick writes.
The company plans to file its first-quarter report for 2013 by the end of June, it says.