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May Sales Rise at Tribune

The company says it's comfortable with analysts' second-quarter profit targets.

Media giant



reported that total May sales rose 6%, and the company said second-quarter earnings are on track to meet analysts' estimates.

The company expects to earn 54 cents to 60 cents a share in the quarter. On average, analysts expect a profit of 57 cents a share. The company earned 52 cents a share in the year-ago second quarter.

Tribune also reiterated that consolidated operating expenses in the first half of 2003 will be up in the mid-single digit range, before decreasing to the low-single digits in the second half of the year.

May consolidated revenue was $452 million, up from $429 million last year, and publishing revenue rose 3% to $317 million during the period ended May 25. Advertising revenue was also up 3% to $245 million. Meanwhile, classified print advertising revenue fell 3%, the company said.

The company's broadcasting and entertainment businesses' revenue increased 11% to $136 million, compared with $122 million in May 2002. Television revenue climbed 12%.

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The Chicago-based Tribune operates



The Los Angeles Times

and the

Chicago Tribune

. Shares of the company closed at $47.30 Friday on the

New York Stock Exchange