Tribune Posts Profit as TV Advertising Rises
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From Bloomberg News
Tribune Co., owner of the Los Angeles Times, rebounded to a first-quarter profit.
Net income was $141.2 million, or 41 cents a share, Tribune said. The company had a net loss of $101.6 million, or 33 cents, a year earlier because of expenses for writing down an acquisition’s value. Sales rose 4.6% to $1.29 billion.
Shares of Chicago-based Tribune fell $1 to $48 on the NYSE.
