Tribune says July ad revenue fell
NEW YORK (Reuters) - Tribune Co TRB.N said on Friday that its advertising revenue fell 10.3 percent in July to $247 million, driven by declines in real estate and retail ad revenue.
Tribune, whose shareholders have approved an $8.2 billion buyout led by real estate tycoon Sam Zell, said real estate ad revenue fell 24 percent for the period ended August 5, while classified ad revenue was off 18.2 percent.
Retail ad revenue declined 6 percent with drops in department stores and home furnishing ads, and consolidated revenue was $467 million, off from $496 million a year ago, it said.
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