Trib's $122M loss deepens financial woes

Tribune Co lost $122 million last quarter as ad revenue sank and the company took one-time charges for severance payments and software writeoffs. Sales at Tribune's publishing unit fell 13% to $654 million, and operating cash flow plummeted 91% to $13 million. Sales at the company's broadcast division, previously a bright spot, dropped 6% to $383 million; cash flow fell 33% to $87 million. The $122-million loss compares with a $153-million profit in third-quarter 2007 and a $4.5-billion loss in this year's second quarter, which included a $3.8-billion write-down for goodwill related to its 2000 acquisition of Times Mirror.