CHICAGO - The publisher of the Chicago Tribune and Los Angeles Times newspapers has revealed a fourth quarter profit fall of 38%, the result of lay-offs and declines in advertising sales and circulation.
The Tribune Company, which also operates TV and radio stations, says Q4 net income decreased to $132.3 million (€109.7m; £74.5m) from $214.7 million a year earlier. Revenue totaled $1.41 billion, down 5% from $1.48 billion.