Trib Media CEO Upbeat Over 3Q Profit Increase

Peter Liguori

Tribune Media Company Tuesday reported its results for the three and nine months ended September 2014.

Q3 Highlights:

• Consolidated operating revenues grew 69% to $474.9 million compared to the third quarter of 2013.
• Consolidated operating profit grew 21% to $55.3 million compared to the third quarter of 2013.
• Consolidated Adjusted EBITDA grew 52% to $146.1 million compared to the third quarter of 2013.
• On August 4, 2014, completed the spin-off of the Company’s publishing operations into an independent publicly-traded company, Tribune Publishing Company.

“We are pleased to see many of the long-term initiatives we have put in place since early 2013 begin to take shape,” said Peter Liguori, Tribune Media’s President and Chief Executive Officer.

“Our recently achieved scale has put us in a competitive position to drive affiliate fees, expand our capabilities to maximize political advertising revenues and fortify our relationships with our network partners. The strong cash flows generated by our business have enabled us to develop a general entertainment cable network, pursue a content ownership strategy and invest in building our data business. I am confident that the combination of our media assets and strong operational focus will keep us on the path for continued success.”