“Broadcasting operating results are notably more stable,” CEO Sam Zell said, comparing the two divisions of Tribune Company as it reported Q1 results. Total operating revenues were down 8% to $1.1 billion and operating cash flow decreased 16% to $200 million.
Broadcasting and Entertainment revenues rose 3% to $292 and operating cash flow doubled to $148 as the company sold off its studio production lot. Within the division, TV revenues were up 5% to $278 million.
But the publishing business saw revenues drop 11% to $823 million. Operating cash flow was $80 million, down from $184 million a year earlier. Publishing ad revenues were down 15%, with retail off 8%, national 10% and classified 27%.