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Tribune Faces Earnings Drop, Blames WB’s ‘Lame Duck Status’

Citing an overall weak advertising market, Tribune Broadcasting’s stations, the core group of CW Network, says advertising in the second quarter dropped one percent, and the third quarter will also dip into the low single percentage digits, MediaPost reports.

 

Also, Tribune Company’s CEO Dennis FitzSimons says few advertisers are interested in Tribune’s prime-time lineup due to the “lame duck status” of The WB, the network that runs on its stations. But Tribune predicts a turnaround this fall, anticipating that the new CW network will post ratings increases 25 percent above what the WB posted.

Tribune’s earnings release reported the media company fell 63 percent or $85.7 million to $231.3 million in the second quarter.