Earnings May Help Tribune (TRB) LBO

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The Tribune Company (TRB) reported earnings, and anyone who thought they would bolster the case for Sam Zell taking the company private might have had a positive surprise.

Net income attributable to common shareholders fell 5.8 percent to $152.8 million from $162.2 million a year ago.

Revenue fell 4.1 percent to $1.28 billion. Publishing division ad revenue dropped 9 percent because of a slowdown in real estate, national and classified ad sales.

Those numbers would appear to be bad, but perhaps not bad enough to drive off the TRB buyers.

The shares are up over 3% at $28.44.

Douglas A. McIntyre

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