Tribune Profits Down 59 Percent on Lower Classified Sales, Will Zell Bolt?
The Tribune Co. advertising revenue took a beating in the second quarter as classified sales dropped significantly. Real Estate advertising is a big part of the classified sales and with the recent news out of Realogy that they will be cutting back on newspaper advertising the landscape will continue to get bleaker.
Now here comes the ironic part of the story. Sam Zell cashed out of his Equity Office commercial real estate empire at a great profit only to successfully bid on the Tribune company and it’s newspapers. Now that the Tribune Company is hemorrhaging money and expected to continue it’s downward slide, will this get Zell out the of the deal that is expected to close in the 4th quarter?
Newspaper ad sales companywide fell 11 percent as classifieds accelerated their migration to the Internet. Plummeting real estate ads at Tribune publications in California and Florida paced the slide. The company also owns the Orlando Sentinel and Sun- Sentinel in Fort Lauderdale.
Sales of classified ads in Tribune’s newspaper group, which includes 11 metropolitan dailies, slid 18 percent, with real estate ads sinking 24 percent. Help-wanted ads dropped 16 percent and auto classifieds fell 12 percent.
Analysts had forecast total sales of $1.34 billion, based on the average of seven estimates compiled by Bloomberg. via Bloomberg.com
My mom told me to put the statue in the ground, just seems wrong to me but I did it. ...
What about RE/MAX Commercial? Where this classification came from?
I am pretty sure RE/MAX Commercial in volume sales must be above ...
Well Tom, once again you have said it much better than I could have. Unfortunately the folks at Move, ...
It certainly does not bode well for a fast recovery in the economic climate. This will affect all real estate ...
I HAVE 25 YEARS EXPERIENCE IN TELECOMMUNICATIONS..HOW DO I APPLY AT KAI. 
Definitely not a fan of Move Inc.!!! 
A lot of you really need to go back to kindergarten and learn to spell correctly. If you cannot spell ...
In 2008, there was an extension to push first-time home buyers to purchase their homes quickly since the program did ...
I also need HELP and don't know what to do about my problem. I have a garden apartment off ...
I have the same situation. I sold my home in July and am scheduled to to close in a few ...
Comment by Jayson Gibson on 20 September 2007:
I was reading about the decline in newspaper print advertising. Thanks for the stats. I wonder how newspaper companies are going to make up for the lost income? Maybe they’ll start charging users to access news online?