CHICAGO — Tribune’s broadcast properties contributed more than $1.14 billion to the company’s bottom line last year, according to financials released by the Chicago media giant. Tribune issued financials Monday for 2010, 2011 and 2012—years in which the company was in receivership. Tribune emerged from Chapter 11 bankruptcy Dec. 31, 2012.
For the full year of 2012, Tribune generated revenues of $3.15 billion, up from $3.1 billion for the same period in 2011. The company’s 2012 full-year operating profit was approximately $396.5 million, up from $369.6 million for the same period in 2011. Net income was reported to be $422.5 million for 2012; $447.9 million for 2011; and $533 million for 2010.
Newspapers and related operations contributed around 64 percent of revenues in 2012. Broadcast properties contributed 36 percent; 74 percent of it from advertising. Operating profit on the TV/radio side exceeded print at $366 million versus $89 million for 2012.
For the year ending Dec. 25, 2011, the broadcast business brought in $1.10 billion, essentially flat compared to the year ending Dec. 26, 2010.
In addition to The CW network, Tribune has 23 TV stations and one AM radio—WGN in Chicago. TV properties include KTLA-TV in Los Angeles, WPIX-TV in New York, WGN-TV in Chicago, WDCW-TV in Washington, and stations in Denver, Miami, Houston, Dallas, St. Louis, Indianapolis, Hartford, Conn., and New Orleans among other markets.
Future US's leading brands bring the most important, up-to-date information right to your inbox
Thank you for signing up to TV Tech. You will receive a verification email shortly.
There was a problem. Please refresh the page and try again.