Tribune Updates Business Trends at Media Conference

Tribune Updates Business Trends at Media Conference

CHICAGO, Feb. 28 /PRNewswire-FirstCall/ -- Tribune Company (NYSE:TRB) executives today discussed business trends and strategy at the Bear Stearns Annual Media Conference. Dennis FitzSimons, Tribune chairman, president and chief executive officer, and Scott Smith, Tribune Publishing president, addressed developments at the company's business units and reaffirmed the company's priorities for 2005.

"We will generate significant cash flow, which should grow modestly over last year's $1.6 billion, and nearly 50 percent of that will convert to free cash flow," said FitzSimons. "Our focus right now is on organic growth and improving bottom-line results. We're very positive about Tribune's prospects over the long term."

FitzSimons said January was a good month for publishing ad revenue, but that trends were still choppy and that comparisons would get tougher in February and March. He noted that circulation revenue weakness would moderate publishing growth in the first quarter, but that trends would improve in the second half of 2005. FitzSimons added that TV advertising is generally soft across the industry and that Tribune first quarter pacing is down in the mid- single digits. He said the broadcasting division was pleased with the growth of Superstation WGN and is anticipating the debut of "Sex and the City" on its stations later this year.

Growing responsive readership and online audiences at the company's newspapers and web sites are top priorities for Tribune Publishing this year and beyond. Said Smith, "Whether it's our daily newspapers, our targeted publications or our web sites, our goals are the same: to grow the frequency with which consumers turn to us, their loyalty to our brands, and their interest in the advertising messages we deliver."

Smith highlighted the Chicago Tribune's recently launched "Subscriber Advantage" program as an innovative way to build loyalty among readers of the newspaper. "Subscriber Advantage benefits include advertiser events and discounts, editorial forums, an information hotline and online content available only to subscribers," said Smith. "We're encouraged by the early results -- January traffic to chicagotribune.com was a record 53.5 million page views."

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.

Source: Tribune Company

CONTACT: Media, Gary Weitman, +1-312-222-3394, fax, +1-312-222-1573,
gweitman@tribune.com , or Investor, Ruthellyn Musil, +1-312-222-3787, fax,
+1-312-222-1573, rmusil@tribune.com , both of Tribune Company

Web site: http://www.chicagotribune.com/

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