NEW YORK — TV and newspaper group Tribune Corp. said Friday its net income for 1999 rose 8% to $415 million, due in part to a strong showing at its broadcast division — the largest station group not owned by a network.
Tribune, which is a partner with Time Warner in the WB net, said revenue rose 8% to $3.2 billion for the year.
In broadcasting and entertainment, operating profit rose 19% to $379 million on revenue up 13% to $1.3 billion. Television led the way with $1.1 billion of revenue and a 20% increase in operating profit.
Fourth-quarter operating profit for broadcasting and entertainment rose 18% to $113 million. That represented more than half of Tribune’s total operating profit of $201 million for the period. TV growth was due mainly to gains at WB affiliates, led by New York, Chicago, Los Angeles and Boston. Quarterly revenue rose 17% to $348 million. The company cited continued excellent ratings for “Friends” in syndication, higher WB primetime revenue and several station acquisitions.