Tribune Media Company Reports Second Quarter 2014 Results
August 12, 2014
Tribune Media Company today reported its results for the three and six months ended June 29, 2014. The consolidated financial statements along with management’s discussion and analysis of financial condition and results of operations are available on the Company’s corporate website, www.tribunemedia.com, and on the Company’s investor relations mobile app.
Q2 Highlights: * Consolidated revenues grew 23% to $894.5 million compared to the second quarter of 2013 * Consolidated Adjusted EBITDA grew 20% to $211.9 compared to the second quarter of 2013 * Cash flow was positively impacted by a cash distribution from Classified Ventures, LLC of approximately $160 million related to the sale of its Apartments.com business * WGN America successfully launched and renewed its first original series, Salem
Commenting on the second quarter results, Peter Liguori, Tribune Media President and Chief Executive Officer stated, “I am very pleased with our accomplishments in the second quarter. The premiere of WGN America’s original series, Salem, exceeded our expectations and we have renewed it for a second season. While the core advertising market experienced headwinds in the first half of the year, we continue to be encouraged by the strength of our new broadcast scale, as evidenced in our year-over-year retransmission fee increases, and feel positive about the opportunities presented by the political advertising landscape in the second half of 2014.”