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Q2 Earnings: Tribune Broadcasting Revenue Falls 20%

Tribune Co. reported $260 million in broadcast revenues for the second quarter of 2013, down -20% from $327 million in the year-ago quarter. The decline includes $41 million in one-time copyright royalties paid to WGN, Tribune’s CW affiliate in Chicago, in 2012.

Advertising revenue also declined $17 million in the quarter, primarily at WGN and WPIX, the CW affiliate in New York City. Tribune says WPIX continues to be impacted by the Cablevision blackout last year and WGN’s performance has been impacted by lower sports revenue. Retransmission and carriage fees were up 15% for the quarter.

“While our second quarter financial results reflect many of the same challenges faced by the other companies in our sector, we have made substantial progress strategically repositioning Tribune for long term growth,” Tribune president and CEO Peter Liguori said in a statement.

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