Ad Revenue Tumbles at Owner of L.A. Times, Chicago Tribune
Posted in: UncategorizedThird-quarter advertising revenue at Tribune Publishing — owner of 10 daily newspapers including Los Angeles Times, Chicago Tribune and Baltimore Sun — was off 9.5% compared with the previous year to $221 million, the company said Wednesday.
Digital sales, where some traditional media companies have seen sharp gains, fell 7.5% to $44 million.
“We are not satisfied with the company’s advertising performance in the third quarter,” CEO Jack Griffin said during an investor call Wednesday explaining the quarterly results. “We are taking significant steps to address ad revenue performance going forward.”
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