Both the publishing and the broadcasting units of Tribune Company experienced double-digit slides for the month of May, and the company's total revenues are down 5.6% since the beginning of the year. One positive Catch 22 was a 22% increase in online income, to 22M.
The sale of the company to Sam Zell and an ESOP for 8.2B is pending. The blame for the decline on the TV side goes to the usual culprit, the off season for political. Publishing losses are blamed on industry challenges, includings drops in national business and a hit on classifieds traced to the slump in real estate transactions.