Focus on Entertainment Stocks
Spotlight on Tribune Co.: Led by Chief Executive Charles Brumback, the company posted a 39% increase in second-quarter profit compared to the year-earlier period. Says analyst Melissa Cook of Prudential Securities: “Their strategy is to expand within businesses they already know while positioning the company to grow in whatever direction media moves in: electronic delivery of newspaper information, production and distribution of TV programming and entertainment software.”
Major Properties
Daily Newspapers: Chicago Tribune, Ft. Lauderdale Sun-Sentinel, Orlando Sentinel, Newport News Daily Press, Escondido Times Advocate, Temecula Californian
Broadcasting: 7 TV and 6 radio stations
Syndication: “Geraldo,” “Soul Train”
Financial Data
Market capitalization: $3.4 billion
Cash: $16.8 million
Long-term debt: $741 million
1992 revenue: $2.1 billion
1992 profit: $119.8 million
Earnings per share: $1.56
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