Tribune doesn’t report profit, but a Crain’s analysis of cash flow
shows the company had an 8% profit margin for the first few months of
the year, which is less than half the 19% margin it boasted in the
first half of 2008.
shows the company had an 8% profit margin for the first few months of
the year, which is less than half the 19% margin it boasted in the
first half of 2008.
Tribune is “still profitable, but significantly less so than last year,” Mr. Corbett said.
[snip]
Instead of revenue, the company reports operating receipts, which were
down 14% from the beginning of the year to $1.36 billion as of May 31.
Despite the drop in operating receipts, the company took in $112
million more in cash than it spent between January and the end of May,
bankruptcy filings show.
Okay, I know in Wall Street World this is an epic disaster, but in my world you don’t get sympathy when you make $112 million more than you had to spend, in the shittiest economy in 30 years.
If only we could come up with a way to monetize content! If only people would pay for the news!
A.