Exhibit 99.1

 

LOGO

Tribune Media Company Reports First Quarter 2019 Results

NEW YORK, May 10, 2019

— Tribune Media Company (NYSE: TRCO) (the “Company”) today reported its results for the three months ended March 31, 2019.

FIRST QUARTER 2019 FINANCIAL HIGHLIGHTS (compared to first quarter 2018)

 

   

Consolidated operating revenues increased 3% to $455.0 million

 

   

Consolidated operating expenses increased to $400.3 million compared to $256.4 million for the first quarter of 2018 as the prior year period included a net pretax gain on the sales of spectrum of $133 million. Excluding the gain on sales of spectrum, consolidated operating expenses increased 3%, or $10.7 million, primarily due to higher network affiliate fees.

 

   

Consolidated operating profit decreased to $54.7 million compared to $187.3 million for the first quarter of 2018 primarily due to the absence of the net pretax gain on the sales of spectrum

 

   

Consolidated Adjusted EBITDA decreased 6% to $112.5 million

 

   

Television and Entertainment advertising revenues were $269.9 million, which was flat compared to the first quarter of 2018

 

   

Core advertising revenues (which exclude political and digital revenues) increased 1% to $247.7 million

 

   

Net political advertising revenues were $4.1 million for the first quarter of 2019 compared to $9.3 million for the first quarter of 2018

 

   

Retransmission and carriage fee revenues increased 9% to $174 million

 

   

Cash distributions from TV Food Network were $153.1 million

 

   

Closed on the sale of the Company’s 5% ownership interest in the parent company of the Chicago Cubs Major League Baseball franchise

“The first quarter of 2019 continued the positive momentum established by Tribune Media in the second half of last year, with the company again reporting solid financial results,” said Peter Kern, Tribune Media’s chief executive officer. “Core advertising continues to be stable, growing year-over-year compared to Q1 2018, and we expect the second quarter to remain consistent with that trend. Excluding the gain on the sales of spectrum in 2018, first quarter consolidated expenses increased in line with our expectations, due primarily to last year’s renewal of our network affiliation agreements with FOX. Importantly, all other remaining expenses in total were down compared to the same time period last year, reflecting our ongoing commitment to containing costs. TV Food Network continues to be a strong performer, delivering robust cash distributions and equity results for us.


The following information was filed by Tribune Media Co (TRCO) on Friday, May 10, 2019 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.

View differences made from one quarter to another to evaluate Tribune Media Co's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Tribune Media Co.

Continue

Never Miss A New SEC Filing Again


Real-Time SEC Filing Notifications
Screenshot taken from Gmail for a new 10-K Annual Report
Last10K.com Member Feature

Receive an e-mail as soon as a company files an Annual Report, Quarterly Report or has new 8-K corporate news.

Continue

We Highlighted This SEC Filing For You


SEC Filing Sentiment Analysis - Bullish, Bearish, Neutral
Screenshot taken from Wynn's 2018 10-K Annual Report
Last10K.com Member Feature

Read positive and negative remarks made by management in their entirety without having to find them in a 10-K/Q.

Continue

Widen Your SEC Filing Reading Experience


Increased Reading Area for SEC Filings
Screenshot taken from Adobe Inc.'s 10-Q Quarterly Report
Last10K.com Member Feature

Remove data columns and navigations in order to see much more filing content and tables in one view

Continue

Uncover Actionable Information Inside SEC Filings


SEC Filing Disclosures
Screenshot taken from Lumber Liquidators 10-K Annual Report
Last10K.com Member Feature

Read both hidden opportunities and early signs of potential problems without having to find them in a 10-K/Q

Continue

Adobe PDF, Microsoft Word and Excel Downloads


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshots of actual 10-K and 10-Q SEC Filings in PDF, Word and Excel formats
Last10K.com Member Feature

Export Annual and Quarterly Reports to Adobe PDF, Microsoft Word and Excel for offline viewing, annotations and analysis

Continue

FREE Financial Statements


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshot of actual balance sheet from company 10-K Annual Report
Last10K.com Member Feature

Get one-click access to balance sheets, income, operations and cash flow statements without having to find them in Annual and Quarterly Reports

Continue for FREE

Intrinsic Value Calculator


Intrinsic Value Calculator
Screenshot of intrinsic value for AT&T (2019)
Last10K.com Member Feature

Our Intrinsic Value calculator estimates what an entire company is worth using up to 10 years of financial ratios to determine if a stock is overvalued or not

Continue

Financial Stability Report


Financial Stability Report
Screenshot of financial stability report for Coco-Cola (2019)
Last10K.com Member Feature

Our Financial Stability reports uses up to 10 years of financial ratios to determine the health of a company's EPS, Dividends, Book Value, Return on Equity, Current Ratio and Debt-to-Equity

Continue

Get a Better Picture of a Company's Performance


Financial Ratios
Available Financial Ratios
Last10K.com Member Feature

See how over 70 Growth, Profitability and Financial Ratios perform over 10 Years

Continue

Log in with your credentials

or    

Forgot your details?

Create Account