Tribune Revenue Drops

Tribune Publishing on Thursday reported fourth-quarter net income of $263,000, after reporting a loss in the same period a year earlier.

The Chicago-based company, publisher of the Chicago Tribune and other major newspapers, said it had net income of 1 cent per share. Losses, adjusted for restructuring gains and to account for discontinued operations, were 12 cents per share.

The media company posted revenue of $192.7 million in the period.

For the year, the company reported that its loss widened to $39 million, or $1.08 per share. Revenue was reported as $746.3 million.

Tribune Publishing announced Feb. 16 that it has agreed to be acquired by Alden Global Capital and go private in a deal valued at $630 million. The deal, which the two companies said should close in the second quarter, requires the approval of two-thirds of shareholders not affiliated with Alden and must pass regulatory scrutiny.

For the current quarter ending in April, Tribune Publishing said it expects revenue in the range of $170 million to $172 million.

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Tribune Publishing shares have increased 24% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $16.95, an increase of 57% in the last 12 months.