The Tribune Co., owner of the Hartford Courant, reported $1.82 billion first quarter 2008 earnings from continuing operations, compared to $11 million in the first quarter 2007, an increase based largely on a one-time tax benefit.
The company reported a loss from continuing operations of $30 million in the quarter before income taxes, down from the $31 million income before taxes in quarter one of 2007.
Sam Zell, company chairman and CEO, cited a decrease in advertising revenue for the decrease in earnings.
“Print ad revenues continue to be challenged by the weak economy’s impact on real estate and classified advertising,” he said.
