(A) EBITDA is earnings before interest, taxes, depreciation, amortization of intangible assets and non-recurring items. (B) Cable Programming/Development includes CLTV News and, for EBITDA and operating profit, the company's equity income or loss from The WB Network, Qwest Broadcasting and TV Food Network. TRIBUNE COMPANY BUSINESS SEGMENT DATA (Unaudited) (In thousands) FIRST HALF ------------------------------- Percent 1997 1996 Change --------- --------- -------- PUBLISHING Revenues Daily Newspapers $ 677,874 $ 623,378 9 Other Pubs./Services/Dev. 37,383 34,450 9 --------- --------- Total 715,257 657,828 9 EBITDA(A) Daily Newspapers 229,865 181,827 26 Other Pubs./Services/Dev. (2,088) (9,139) 77 --------- --------- Total 227,777 172,688 32 Operating Profit Daily Newspapers 195,047 147,273 32 Other Pubs./Services/Dev. (7,446) (11,169) 33 --------- --------- Total $ 187,601 $ 136,104 38 BROADCASTING AND ENTERTAINMENT Revenues Television $ 404,880 $ 344,356 18 Radio 43,263 45,061 (4) Entertainment/Chicago Cubs 48,348 47,062 3 Cable Programming/Development(B) 5,166 3,996 29 --------- --------- Total 501,657 440,475 14 EBITDA Television 152,813 116,877 31 Radio 12,031 8,683 39 Entertainment/Chicago Cubs (5,705) (1,870) (205) Cable Programming/Development (14,373) (6,344) (127) --------- --------- Total 144,766 117,346 23 Operating Profit Television 123,493 98,924 25 Radio 10,374 6,938 50 Entertainment/Chicago Cubs (7,919) (4,026) (97) Cable Programming/Development (14,952) (6,908) (116) --------- --------- Total $ 110,996 $ 94,928 17 EDUCATION Revenues $ 96,747 $ 80,746 20 EBITDA 19,577 21,621 (9) Operating Profit $ 11,228 $ 15,971 (30) CORPORATE EXPENSES EBITDA $ (15,271) $ (13,972) (9) Operating Profit $ (16,384) $ (15,055) (9) CONSOLIDATED Revenues $ 1,313,661 $ 1,179,049 11 EBITDA 376,849 297,683 27 Operating Profit $ 293,441 $ 231,948 27 (A) EBITDA is earnings before interest, taxes, depreciation, amortization of intangible assets and non-recurring items. (B) Cable Programming/Development includes CLTV News and, for EBITDA and operating profit, the company's equity income or loss from The WB Network, Qwest Broadcasting and TV Food Network. REVENUE AND STATISTICAL SUMMARY JUNE 29, 1997 Revenue (In thousands) Second Quarter (13 weeks) Year-To-Date (26 weeks) 1997 1996 % 1997 1996 % ---------- ---------- --- ---------- ---------- --- Publishing ---------- Advertising Retail $111,461 $104,427 7 $217,747 $204,630 6 General 37,952 34,573 10 74,712 68,462 9 Classified 131,776 116,161 13 262,217 231,347 13 ---------- ---------- ---------- ---------- Sub-Total 281,189 255,161 10 554,676 504,439 10 Circulation 62,248 62,991 (1) 127,342 127,753 - Other 16,694 12,343 35 33,239 25,636 30 ---------- ---------- ---------- ---------- Segment Total 360,131 330,495 9 715,257 657,828 9 ---------- ---------- ---------- ---------- Broadcasting/ Entertainment -------------- Television(A) 243,130 196,109 24 404,880 344,356 18 Radio(B) 18,362 20,429 (10) 43,263 45,061 (4) Enter./Cubs/ Cable/Dev. 38,775 36,742 6 53,514 51,058 5 ---------- ---------- ---------- ---------- Segment Total(C) 300,267 253,280 19 501,657 440,475 14 ---------- ---------- ---------- ---------- Education(D) 59,344 58,152 2 96,747 80,746 20 ---------- ---------- ---------- ---------- Consol. Rev.(E) $719,742 $641,927 12 $1,313,661 $1,179,049 11 ========== ========== ========== ========== (A) Includes KSWB-San Diego since its acquisition in April 1996 and the six Renaissance Communications stations since their acquisition in March 1997. Excluding KSWB from the year to date and the Renaissance stations from both periods, television revenues decreased 2% for the quarter and increased 1% for the year to date. (B) Includes Farm Journal, which was sold on March 31, 1997. Excluding Farm Journal, radio revenues increased 13% for the quarter and 14% for the year to date. (C) Excluding KSWB from the year to date and the Renaissance stations and Farm Journal from both periods, broadcasting and entertainment revenues were flat for the quarter and increased 2% for the year to date. (D) Includes Educational Publishing and NTC Publishing since their acquisition in March 1996. Excluding the acquisitions, education revenues increased 18% for the year to date. (E) Excluding from the appropriate periods the acquisitions and disposition referred to above, consolidated revenues increased 5% for the quarter and 7% for the year to date. REVENUE AND STATISTICAL SUMMARY JUNE 29, 1997 Advertising Inches (In thousands)(A) Second Quarter (13 weeks) Year-To-Date (26 weeks) 1997 1996 % 1997 1996 % ---------- ---------- --- ---------- ---------- --- Full Run(B) -------- Chicago Tribune 700 657 7 1,347 1,280 5 Sun-Sentinel 934 956 (2) 1,914 1,958 (2) Orlando Sentinel 731 760 (4) 1,429 1,434 - Newport News 415 372 12 782 698 12 ---------- ---------- ---------- ---------- Total 2,780 2,745 1 5,472 5,370 2 ========== ========== ========== ========== Part Run(B) -------- Chicago Tribune 1,472 1,276 15 2,647 2,430 9 Sun-Sentinel 746 743 - 1,566 1,555 1 Orlando Sentinel 369 337 9 718 668 7 Newport News 37 30 23 69 55 25 ---------- ---------- ---------- ---------- Total 2,624 2,386 10 5,000 4,708 6 ========== ========== ========== ========== Preprint -------- Chicago Tribune 899 703 28 1,581 1,349 17 Sun-Sentinel 364 347 5 736 678 9 Orlando Sentinel 799 629 27 1,534 1,211 27 Newport News 317 286 11 569 529 8 ---------- ---------- ---------- ---------- Total 2,379 1,965 21 4,420 3,767 17 ========== ========== ========== ========== Total Advertising Inches ------------------------ Full Run Retail 909 888 2 1,795 1,741 3 General 201 184 9 397 362 10 Classified 1,670 1,673 - 3,280 3,267 - ---------- ---------- ---------- ---------- Sub-total 2,780 2,745 1 5,472 5,370 2 Part Run 2,624 2,386 10 5,000 4,708 6 Preprint 2,379 1,965 21 4,420 3,767 17 ---------- ---------- ---------- ---------- Total 7,783 7,096 10 14,892 13,845 8 ========== ========== ========== ========== (A) Excludes shopper and certain targeted publications. (B) Excludes preprints. CONTACT: Investor and Media, Ruthellyn Musil, 312-222-3787, or after hours, 312-337-9082, or fax, 312-222-1573, or [email protected] of Tribune Company.