Trib Ad Revenue Nosedives

The Tribune Co. reported a Q3 loss of $124 million from continuing operations compared with income of $84 million for the same period last year.

Operating revenue at the company fell 10 percent to $1 billion in Q3. Operating expenses grew 6 percent. Operating profit plummeted 83 percent to $37 million.

Interest expense related to continuing operations grew to $232 million from $175 million in Q3 2007. At the end of Q3, Tribune’s debt was $11.8 billion; at the end of the same period last year, it was $9.4 billion. The company cited the increase due to