Tribune Co. to cut costs with job losses likely

Sept. 28, 2013 at 1:29 PM
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CHICAGO, Sept. 28 (UPI) -- Media firm Tribune Co. is seeking to cut expenses in anticipation of smaller revenue in 2014, the company confirmed.

The Chicago Tribune reported Saturday the company anticipates a decline in revenue of as much as $100 million in 2014.

The newspaper said some savings will be achieved by cutting jobs.

"We're trying to determine how to put our publishing businesses on the best possible footing for the long term, to make them as strong as possible, said Gary Weitman, a company spokesman.

Publishing revenues have been steady in recent years, but advertising revenues from the publishing business are in decline.

Advertising revenue fell 8 percent -- $44 million -- in 2012 in the company's publishing division.

The company, which emerged from bankruptcy in December, owns eight daily newspapers -- including the Chicago Tribune and the Los Angeles Times. It owns 23 televisions stations, a national cable channel -- WGN America -- and radio outlet WGN-AM.

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