TRIBUNE REPORTS 2006 FOURTH QUARTER AND FULL YEAR RESULTS

CHICAGO, February 8, 2007—Tribune Company (NYSE: TRB) today reported fourth quarter 2006 diluted earnings per share from continuing operations of $.96 compared with $.42 in the fourth quarter of 2005. For the full year 2006, Tribune reported diluted earnings per share from continuing operations of $2.39 compared with $1.63 in 2005.

Fourth quarter 2006 and 2005 results from continuing operations included the following:

·  
A charge of $.02 per diluted share in the 2006 quarter for the elimination of approximately 400 positions, compared with a charge of $.09 per diluted share in the 2005 quarter for the elimination of approximately 900 positions. The position eliminations in both quarters were primarily in the publishing group.
·  
A charge of $.01 per diluted share in the 2006 quarter and a charge of $.04 per diluted share in the 2005 quarter related to the shutdown of the Los Angeles Times San Fernando Valley printing facility.
·  
A gain of $.02 per diluted share in the 2006 quarter related to the sale of the corporate airplane.
·  
A pension curtailment gain of $.03 per diluted share in the 2005 quarter as a result of the Company’s replacement of certain defined benefit plans with a defined contribution plan.
·  
A net non-operating gain of $.29 per diluted share in the 2006 quarter, compared with a net non-operating loss of $.04 per diluted share in the 2005 quarter.

Full year 2006 and 2005 results from continuing operations included the following:

·  
A charge of $.04 per diluted share in 2006 for severance and other payments associated with the new union contracts at Newsday.
·  
A charge of $.02 per diluted share in 2006 for the elimination of approximately 400 positions compared with a charge of $.09 per diluted share in 2005 for the elimination of approximately 900 positions. The position eliminations in both years were primarily in the publishing group.
·  
A charge of $.01 per diluted share in 2006 and a charge of $.04 per diluted share in 2005 related to the shutdown of the Los Angeles Times San Fernando Valley printing facility.
·  
A gain of $.02 per diluted share in 2006 related to real property sales in publishing.
·  
A gain of $.01 per diluted share in 2006 related to the Company’s share of a one-time favorable income tax adjustment recorded at CareerBuilder.
·  
A gain of $.02 per diluted share in 2006 related to the sale of the corporate airplane.
·  
A pension curtailment gain of $.03 per diluted share in 2005 as a result of the Company’s replacement of certain defined benefit plans with a defined contribution plan.
·  
A net non-operating gain of $.40 per diluted share in 2006 compared with a net non-operating loss of $.30 per diluted share in 2005.
 
 
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The following information was filed by Tribune Media Co (TRCO) on Thursday, February 8, 2007 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-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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