EARNINGS : Strike Weakens N.Y. Daily News
The strikebound New York Daily News had operating losses of $69.3 million in the fourth quarter and $114.5 million for all of 1990, its parent, the Tribune Co., said.
The Chicago-based parent company also reported to day a 99% plunge in fourth-quarter corporate operating profit to $1.2 million from $118.8 million, mainly because of the Daily News situation.
The Tribune Co. did not report final net income for the quarter or the year, pending a resolution of the Daily News strike through a settlement, sale or shutdown of the paper. Operating results are figured before taxes and special charges.
The publishing, broadcasting and entertainment company repeated its previous assertion that it expects to report a net loss for the fourth quarter even before a special charge against earnings that would result from the resolution of the Daily News strike.
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