Tribune ends bankruptcy stint with lower earnings

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Associated Press

Posted on June 17, 2013 at 4:02 PM

Updated Monday, Jun 17 at 5:01 PM

CHICAGO (AP) — The company that owns the Chicago Tribune, Los Angeles Times and more than 20 television station made slightly less money last year as it ended a lengthy ordeal in bankruptcy court.

A financial statement released Monday shows the Tribune Co. earned $422 million in the year ending Dec. 30. The Tribune Co. emerged from a four-year stint under bankruptcy protection the day after it closed the books on its 2012 performance.

Last year's profit marked a 6 percent decrease from earnings of $448 million in 2011.

Tribune Co.'s revenue edged up by 1 percent from last year to $3.14 billion.

The company is trying to sell the Chicago Tribune, Los Angeles Times and six other daily newspapers to focus on its more profitable broadcasting operations.

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