Times Mirror Sees Lower Earnings: Citing depressed...

Times Mirror Sees Lower Earnings: Citing depressed advertising volume at its Eastern newspapers and its magazines, Times Mirror Co. said it expects operating results for the first quarter of 1990 to be “considerably lower than the 1989 level.” Ad revenue for the Los Angeles company’s newspaper publishing group slipped 1.9% to $128.4 million for the four weeks ended March 4, versus last year’s comparable period, and was off 2.8% for the first nine weeks of the year. The company noted that total ad volume at its flagship Los Angeles Times was up 6.5% for the first nine weeks, but strong circulation growth at the paper “has increased operating costs, despite lower newsprint prices.”