• April 16, 2003

Tribune's 2003 first quarter operating revenues increased 5% to $1.29 billion from $1.23 billion. The publishing division's first quarter operating revenues were $974 million, up 2% from last year's first quarter. Q1 operating cash flow margin was 25%, up 1 percentage point from first quarter 2002, due primarily to higher revenues and lower newsprint expense. National print advertising was up 6% for the quarter. Increases in hi-tech, auto manufacturers, movies/entertainment and financial categories were partially offset by a decrease in travel/resorts. Broadcasting and Entertainment's first quarter operating revenues increased 12% to $316 million, up from $284 million in 2002. Television's first quarter revenues jumped 13% to $289 million, up from $256 million in 2002. The TV division's operating cash flow margin was 36%, an increase of 3 percentage points from first quarter 2002.