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 Send to email | Zell: Tribune Ad Revs Cratering, Break-Up Possible in General |  By Silicon
el 17-Apr-2008 |
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 Newish Tribune owner Sam Zell doesn't own a public company, but he does have a lot of debt. Which is presumably why he held the equivalent of an earnings call today to provide an update on the business. It's not going well.
Zell reported a double-digit decline in print revenue in Q1, which he said was primarily due to the vaporizing classified ad business. As a result, he said, more job cuts and asset sales are in the offing. Zell, via Editor & Publisher:
When we got into this, our goal was to keep
everything together, and to preserve the ownership of all the assets. The significant erosions of the first quarter has certainly
put that plan into some question, and we are forced to consider the
divestiture of some of our assets.
Just what does Sam want to sell? Beyond the Cubs and Wrigley Field, he wouldn't say. Asked about the fate of Newsday, long rumored on the block, Zell said he'd "reached no conclusion."
EVP Randy Michaels said TV is looking a bit brighter, especially Tribune's Fox affiliates.
See Also: NYT Q1: Slide Continues, Digital Not Helping
Tribune: Cutting 2% Of Workforce, Cites "Weak Economy"
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| More Video Layoffs: Break.com Fires 11 | | Break.com, one of the legions of video sites aimed at dudes, said today that it's laying off 11 employees - about 14% of its total work force.
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| DVD Box Set Confirms Prison Break Game [Prison Break] | | An advertisement in the recently released season DVD box set for the Fox television series Prison Break confirms that there is indeed a game based on the show coming out in February for the PlayStation 3 and Xbox 360. Brash Entertainment, known for their movie adaptations li [..] Read complete article | | Published 15-Aug-2008 by Mike Fahey in Prison Break brash entertainment News PS3 TV Xbox 360
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Sam Zell's message to the employer-owners at the faltering Tribune company: There's going to be fewer of you, and the ones that stick around will have to get a lot more productive, pronto.
[..] 
Tribune Co. boss Sam Zell paid a visit to CNBC's "Squawk Box" this morning. He's looking for some advertisers (seen any?) and says it's his job to deliver some painful reality to the strugglin [..] 
Break Media wants a bigger share of TV advertising, and is forming an industry group to help agitate for it. The company, which runs video site for dudes Break.com, is launching the Online Vid [..] 
