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Tribune Media
Tribune Publishing profit declines 54%
Tribune Publishing profit declines 54%

Tribune Publishing's net income declined 54% in the fourth quarter, primarily because of lower advertising revenue and debt service associated with its spinoff, the company said Wednesday. The owner of the Los Angeles Times posted earnings of $15 million, or 60 cents per share, in the quarter ended Dec. 28, its first as a stand-alone company. Revenue fell 5.5% to $457 million, with circulation and digital gains unable to offset advertising declines. Advertising revenue was $266 million, down $30 million or 10.4% from the same quarter in 2013. The results beat analyst expectations for revenue, but fell short on earnings. Chicago-based Tribune Publishing owns and operates 10 daily...

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