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TRIBUNE
COMPANY PRESS RELEASE
June 22, 2005
Tribune Reviews
Business Progress at Media Conference
CHICAGO, June
22, 2005 -- Tribune Company (NYSE:TRB) executives addressed investors
and analysts today at the Mid-Year Media Review conference in
New York City. Dennis FitzSimons, Tribune chairman, president
and chief executive officer, Scott Smith, Tribune Publishing president,
and Pat Mullen, Tribune Broadcasting president, covered developments
at the company’s businesses.
"Tribune’s
newspapers and TV stations are resilient, and provide a strong
base for our future growth," FitzSimons said. "With
the right content and sales strategies, we can grow our share
of advertising in our local markets."
FitzSimons
highlighted Tribune’s financial strength and noted that
the company is using its substantial cash flow to invest in its
businesses and return value to shareholders. The company raised
its dividend 50% earlier this year and continues to repurchase
its stock. Tribune has purchased 5 million shares so far this
year after buying back 15 million shares in 2004.
Smith focused
his remarks on strategies to grow newspaper readership and online
audiences. He also discussed innovative new advertising solutions
being offered by the company’s newspapers, such as special
ad positions and shapes.
"We believe
these unique ads will generate additional revenue the rest of
this year and beyond, particularly in the national category,"
Smith said.
In television,
Mullen noted that new prime-time shows on The WB this fall and
a refreshed sitcom lineup in the fringe periods should lead to
improved ratings. He pointed to local news as another key programming
element, and recapped the company’s solid morning news ratings
in the nation’s top markets.
"Our
local stations are well managed, we’re in great markets,
and we have a solid programming strategy which sets us up well
for growth," Mullen said.
A transcript
of Tribune’s presentation at the Mid-Year Media Review will
be posted on www.tribune.com later this week.
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CONTACTS:
» Media
Contacts:
Gary Weitman
gweitman@tribune.com
312/222-3394
» Investor
Contacts:
Ruthellyn Musil
rmusil@tribune.com
312/222-3787
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TRIBUNE (NYSE:
TRB) is one of the country’s top media companies, operating
businesses in publishing and broadcasting. It reaches more than
80 percent of U.S. households and is the only media organization
with newspapers, television stations, and websites in the nation’s
top three markets. In publishing, Tribune operates 11 leading
daily newspapers including the Los Angeles Times, Chicago Tribune
and Newsday, plus a wide range of targeted publications such as
Spanish-language Hoy. The company’s broadcasting group operates
26 television stations, Superstation WGN on national cable, Chicago’s
WGN-AM and the Chicago Cubs baseball team. Popular news and information
websites complement Tribune’s print and broadcast properties
and extend the company’s nationwide audience.
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To view this
press release on the Internet, go to:
http://www.tribune.com/pressroom/releases/2005/06222005.html
To listen
to an audio replay of the presentation, go to:
http://www.midyearmediareview.com/webcast/tribune
To view all
Tribune press releases on the Internet, go to:
http://www.tribune.com/pressroom/releases/index.html
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