Tribune Publishing Cuts FY Revenue Guidance

(RTTNews) - Tribune Publishing Co (TPUB) on Friday said it now expects fiscal 2015 revenues of $1.65 billion to $1.68 billion, a decline from its prior guidance of $1.67 billion to $1.70 billion.

Analysts polled by Thomson Reuters expect the company to report revenues of $1.71 billion for 2015.

Tribune's Chief Financial Officer Sandra Martin said the slashed guidance reflects lower forecasted revenue estimates for the year, concentrated in Southern California, partly offset by expense mitigation efforts.

The company now expects 2015 adjusted EBITDA of $145 million to $160 million, down from prior guidance of $165 million to $175 million.