Exhibit 99.1

 

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Tribune Media Company Reports Third Quarter 2018 Results

NEW YORK, November 9, 2018 — Tribune Media Company (NYSE: TRCO) (the “Company”) today reported its results for the three months and nine months ended September 30, 2018.

THIRD QUARTER 2018 FINANCIAL HIGHLIGHTS (compared to third quarter 2017)

 

   

Consolidated operating revenues increased 11% to $498.0 million (increased 12% excluding third quarter 2017 barter revenues, which are no longer recognized in 2018)

 

   

Consolidated operating profit was $37.1 million compared to an operating loss of $29.5 million for the third quarter of 2017

 

   

Consolidated Adjusted EBITDA increased 14% to $136.8 million

 

   

Television and Entertainment advertising revenues increased 11% to $327.2 million

 

   

Core advertising revenues (which exclude political and digital revenues) decreased 2% to $267.8 million

 

   

Net political advertising revenues were $42.5 million, an increase of 90% compared to third quarter 2014 and an increase of 36% over third quarter 2016

 

   

Retransmission revenues increased 12% to $116.6 million

 

   

Carriage fee revenues increased 30% to $40.1 million

“We are very pleased with our record third quarter revenue and Adjusted EBITDA which reflect the strong operational year we are having,” said Peter Kern, Tribune Media’s Chief Executive Officer. “We drove share gains in political and core advertising along with reaping the benefits of unprecedented political spending and stronger core advertising in our markets. Net of displacement, we estimate core advertising growth would have been in positive territory for the quarter, which is a significant improvement compared to the first half of the year. This robust advertising performance along with continued growth in retransmission and carriage fees and diligent focus on costs produced a terrific third quarter. We are proud of the work our teams have done during this time, and we now look forward to a strong finish to the year.”


The following information was filed by Tribune Media Co (TRCO) on Friday, November 9, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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