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Tribune’s 3rd-quarter Earnings Drop 7% as Revenues Slow

3rd-quarter earnings of Tribune Company are down 7 percent. The drop was blamed on the continuous housing slump and worsening consumer spending. This process continued hampering advertising revenue, especially in California and Florida. Net income of the company fell to $152.8 mln. The per-share figure almost doubled to $1.2 as the number of shares outstanding fell by 50 per cent. Tribune Company’s holdings include the Chicago Cubs, the Los Angeles Times, the Chicago Tribune, and WGN.

Posted: October 24th, 2007 under Cubs Tickets, MLB, baseball tickets, sports tickets.
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