Looks like the LIBune Company could use a stimulus:

Tribune Co. Reports 4Q Loss; Zell Still Sees 'Significant Opportunity'

CHICAGO (AP) -- Media conglomerate Tribune Co. reported a $78 million fourth-quarter loss from continuing operations Thursday as it copes with the historic downturn in the newspaper industry.
Chairman and CEO Sam Zell also confirmed that the company has begun a strategic review of assets, as a report surfaced that News Corp. chairman Rupert Murdoch has made a bid for Tribune's Long Island-based Newsday.

The fourth-quarter loss was a reversal from the $233 million gain from continuing operations a year earlier.

The company also said full-year income from continuing operations was $55 million, down from $661 million in 2006. It blamed the declines on lower revenues, higher interest expense and other factors as advertising and circulation continued to slide.

Revenues declined $180 million, or 12 percent, to $1.27 billion. The company said the drop would have been 7 percent but the fourth quarter of 2006 was measured as 14 weeks instead of 13.

Tribune went private in December when an $8.2 billion buyout led by Zell was formally completed.

Zell, now the chairman and CEO, issued an upbeat statement about the company's prospects and promised to say more in a conference call next month. Tribune is no longer required to report earnings but the real estate magnate has promised to release regular updates on the company's performance.

"Despite the continued difficult operating environment and weakness in print revenue, we see significant opportunity within Tribune Co.," he said. "In our first 75 days, we've made a series of key leadership changes, have launched a number of programs and projects to drive new revenue, and have initiated a fundamental shift in culture.

"In addition, we have begun a strategic review of certain Tribune assets to determine whether capital can be more effectively redeployed into our core operations or toward reducing our outstanding leverage."

Zell had initially said he intended to keep Tribune's core newspapers, which include the Los Angeles Times, Chicago Tribune, Newsday, The (Baltimore) Sun, South Florida Sun-Sentinel, Orlando Sentinel and Hartford Courant. But he indicated to employees of The Sun last week that a difficult economy and steeper-than-expected decline in revenue could prompt a re-evaluation of that plan.

Noting that Tribune newspapers were experiencing revenue declines of 16 percent to 18 percent from a year earlier, he said: "If that trend continues, we may have to re-evaluate a lot of our decisions."

Crain's NewYorkBusiness.com reported Thursday that Murdoch has made a bid for Newsday, citing an unidentified newspaper industry insider. A News Corp. spokesman did not immediately respond to a request seeking comment. Zell's spokeswoman declined comment.

The Wall Street Journal and The New York Times reported that Cablevision Systems Corp., the dominant cable TV operator on Long Island, was considering a bid for Newsday. The reports cited unnamed people familiar with the situation. A Cablevision spokeswoman declined to comment.

Tribune said in reporting earnings that it eliminated about 700 jobs in the fourth quarter. It continues to reduce staff at its corporate offices and newspapers. Those cuts are expected to also total in the hundreds this year, although company spokesman Gary Weitman declined to give a specific estimate.

Dave Novosel, an analyst for the Gimme Credit research firm, said Zell's remarks appeared to acknowledge that the slides in circulation, ad revenue and real estate advertising were bigger than he expected.

"The problems may be more serious than he originally thought they were," he said.

Fourth-quarter operating revenues from the company's newspaper unit were down 13 percent to $952 million and ad revenues declined 15 percent to $132 million.

Tribune said operating cash flow in the quarter decreased 44 percent to $214 million from $384 million, while operating profit fell 92 percent to $27 million from $325 million after a $130 million charge to write down certain intangible assets.

Broadcasting and entertainment revenues decreased 11 percent to $316 million and revenue from the company's 23 TV stations sank 9 percent to $297 million.

For the fourth quarter of 2007, television revenues decreased 9 percent to $297 million, down from $325 million.

Perhaps an answer to the LIBune's woes is for it its newspapers and TV stations to report news correctly, for its journalists to actually begin acting like objective journalists, rather than corrupt, dirty, biased whorehouses for the DNC and left wing causes.

Or maybe it's best the LIBune Co. just died.

How's that 401K of yours doing JD?

Perhaps an answer to the LIBune's woes is for it its newspapers and TV stations to report news correctly, for its journalists to actually begin acting like objective journalists, rather than corrupt, dirty, biased whorehouses for the DNC and left wing causes.

Or maybe it's best the LIBune Co. just died.

Posted by: John D | March 21, 2008 9:18 AM

Firebreathing Truth Teller John D is just what this broken state needs. Let him pulverize Lefty Loons with his Truth Hammer. Evict Dick Turbin from his Ivory Tower and let the Working Man's Senator bring America back to real Americans. We need John D yesterday and forever!
http://www.ecpzone.com/images/article/1194021072170_f1_2.jpg

What does the Tribune's revenues have to do with the economic stimulas plan? And, you have it wrong - the Tribune is owned by thr RNC. They have never endorsed a Democratic president. I could not beleive they endored Foster over Oberwise. But my guess is that was because he employs illegal immigrants.

Oh Demented Johnny E., still jealous of us folks who have a job, make money and are able to leave the house?

Nice link, there, by the way.

I don't want my government telling me to get "stimulated"...very creepy.

It will go to the 2007 taxes we owe this year...I don't know how we will pay for this "Rebate" next year when taxes on this are due IF we qualify. I guess I'll cross the road and talk to my tax advisor on how to soften next year's blow.

John D,
How can I contribute to your campaign, do you have a newsletter I can subscribe to?

I wonder how much it cost the IRS to mail out all those letters just to tell people a check is on the way. And why was that effort needed? Wouldn't it have been better just to mail out checks marked “stimulus check” (or something equally inane) and let everyone figure it out for themselves?

Only in America can the government indulge in such obviously useless expenditures without being challenged for its lack of wisdom.

LIBune Co.??

Is that sarcasm or retardation? Sometimes hard to tell online...

John D, if you don't like the Tribune, get your news elsewhere. If you choose to visit the Tribune site, then keep your comments on topic. Don't play it both ways, hanging out 24/7 on the Tribune site and yet constantly bashing it. Maybe you need to join RushLimbaugh.com or some other idiotic wingnut site so you can be happy.

Dave,

The Chicago Tribune is supposed to be a newspaper with journalists who are objective and not biased. I don't want the Tribune's reporting to favor one party over another, one candidate over another. I expect journalists to do what they are supposed to do: report news, give both sides to the story and not be objective in their reporting. Increasingly, the Tribune reporters and editors fail at that on a day-in, day-out basis.
I am giving much thought to discontinuing my subscription once again. If the Tribune wishes to remain in business, wishes to remain a viable entity, perhaps it better start cleaning up its act and realize most folks are not Loony Lefters and by turning off the majority of people will only hurt the newspaper and cost the journalists employed there, their jobs. The Trib's revenues continue to fall like a rock, and the economy is not the issue, declining readership is the bigger problem.

John D.:

Does the D stand for "Doofus", "Dimwit", "Dork", or just "Dumb"?

Because anyone with half a brain knows the Trib isn't a "liberal" news media outlet.

Shorter John D-
If the Tribune doesn't stop reporting facts I don't like, I'm going to hold by breath until I turn blue and die. Then they'll be sorry! You'll see!

John D, you bozo (yes, another tribune reference), reporters are SUPPOSED to be objective. Of course, only a conservative wingnut like you would get that wrong (McCain, Sunni, Shiite...)

[quote]
John D.:

Does the D stand for "Doofus", "Dimwit", "Dork", or just "Dumb"?

Posted by: eje | March 21, 2008 3:21 PM
[/quote]

When talking about Geographically Ignorant Dumb Dumb Little Johnnie Dyslin, "the Joseph Stalin of Streamwood", the correct answer is "all of them".

Eje, you are the doofus, dimwit, dork and dumba--. Anyone with a brain knows that there is a difference between a newspaper's editorial board and the rest of the paper.
Yes, the Tribune has only endorsed Republicans for president. The Tribune also isn't the same paper today it was 20, 30, 40+ years ago. The Tribune editorial pages are no longer conservative. At best, it is middle of the road. The Tribune editorial pages continually support gun control and no on tax cuts, neither of which is hardly conservative.
The Tribune's news pages are totally different. There, the Tribune staff basically is nothing but liberal to left wing loons, whether you are referring to Mark Silva, Jill Zuckman, Frank James, William Neikirk, Ann Marie Lipinksi, Charles Madigan, Clarence Thomas, Timothy McNulty, James Warren, Naftali Bendavid, etc., etc. In fact, while Tribune reporters and editors would like for the editorial pages to become more liberal (told to me by a Tribune staffer I had lunch with a few years ago), they also take refuge in that editorial page stance. Why? Because it allows them to take more liberties in pushing a liberal agenda on the news pages because saps like you will keep saying "but the Tribune is a Republican paper and only endorses Republicans for presidents!" All the while the NEWS pages are loaded with liberal and left wing slants.

Paul, I meant subjetive, not objective.

And, I see the world's dumbest loser, BC, is chiming in here. I love it how you keep going through the same refrain over and over. And week after week I keep posting MULTIPLE sources to prove much of Cuba borders the Gulf of Mexico. By the way, BC, please show me when I said Cuba was "completely in the Gulf of Mexico" like you claim. To the contrary I have been very consistent in pointing out that Cuba borders the Gulk and Atlantic Ocean on the North and Caribbean Sea on its southern shores.
But for like the 100th time, here are more links for you to ignore:

http://havanajournal.com/business/entry/more-countries-drilling-for-oil-northwest-of-cuba-in-gulf-of-mexico/

http://www.1planet1ocean.org/html/cuba_gom.html
(and from that comes this: Preparations underway for next expedition to explore Cuba's Gulf of Mexico . The Cuban research team at the University of Havana's Center for Marine Research is completing preparations for an upcoming expedition to continue studies of Cuba's northwest coastal waters.

http://www.rigzone.com/news/article.asp?a_id=55360
And please look at the picture there that explicitely points out Cuba's northwest shores along the Gulf.

And, again, from Encylopedia Britannica:
http://www.britannica.com/eb/article-9109733/Gulf-of-Mexico

And I will pull this from the Encyclopedia:
Spanish Golfo de México partially landlocked body of water on the southeastern periphery of the North American continent. It is connected to the Atlantic Ocean by the Straits of Florida, running between the peninsula of Florida and the island of Cuba, and to the Caribbean Sea by the Yucatán Channel, which runs between the Yucatán Peninsula and Cuba.

BC, I know you are am embarrassing, weak, ignorant little fool. But what else is new from your side???

Most spendthrift Americans have already charged up their share in anticipation of receipt of said 'rebate' with the intention on paying it down.

Won't happen; They will blow the rebate check also.

This country is like a heroin addict gone wild on spring break when it comes to debt, be it private or public. I won't use the drunken sailor compare because it would be an insult to drunken sailors everywhere.

John W.

IRS paid $42 million to mail the information.

Read it and weep;

http://www.nytimes.com/2008/03/21/opinion/21krugman.html?ref=opinion

John W.

IRS paid $42 million to mail the information.

The D stands for D'Mime, as in John D'Mime Gacy

More free economic advice.

Today, as I filled my gas tank, I noticed diesel was $4.06 per gal!

Nice.

Note to those 'folks' that own a gigantic truck, and a 35 foot bi-level on wheels that you tow around the country; It would be a lot cheaper to stay at B and Bs or three or four star hotels instead of pretending to 'camp' in these obscene monstrosities called 'RVs'.

You have to figure in incredible insurance and maintenance costs as well. You are killing yourself financially trying to support these ocean liners on wheels. My sister and B-in-L just had the brakes done on their land yatch. $1800!!
That would pay for all the camping equipment I and wifey have bought in the last 30 years with enough left over to by 200 showers at the RV park.

This is sound economic advice; Camp in a tent, or stay in a lodging. It's cheaper.

Wade,

Sweet, huh. $42Mb. More taxes than all of us together plus all our progeny will ever pay. And all to promote a reckless tax giveaway.

I am saving mine.

When the Bush "tax breaks for the rich" expire in 2010 you can use the $1,500 rebate for the increase. 10% tax bracket will disappear and 25% will go to 28%. It means most american will pay taxes on an additional 3% to 5% of their income. So if you and your wife both make $35,000 a year (combined $70,000) you should see an increase of about $3,000 or so in your tax bill. Add another $500 or so for each kid you have (child tax credit drops back down).

You know, them tax breaks for the rich.

"IMMUNITY SPEAKS"

IT'S ON TIME, RIGHT ON TIME, AND AT BEST DELIVERED.

CAN AMERICA HELP A "PRESIDENT OUT" CAN A BROTHA FROM ANOTHA MOTHA GET A BREAK?

GIVE ME IMMUNITY AND I WILL BE ON TIME!

I WAS A LAME DUCK PRESIDENT, "I CAN'T FISH" AND AT THE TIME "THE DEVINE RIGHT" WAS IN THE POOL.

CAN A AMERICA JUST CUT ME SOME SLACK, I'LL EXTEND THE EXECUTIVE ORDER, .41 CENS .42 CENTS, I GOT THAT.

I'M THE DECIDER!

I just received a notice in the mail from the Federal government NOT with my stimulus check , but ADVISING me that the check was going to be mailed soon.

I just received a notice in the mail from the Federal government NOT with my stimulus check , but ADVISING me that the check was going to be mailed soon.

i got a notice too!