Tribune Media saw earnings decline by 24 percent in the third quarter, due in part to losses associated with its former publishing business, which it spun off in August, the Chicago Tribune reported today. The Chicago-based company reported net income of $38 million, or 38 cents per share in the quarter ended Sept. 28, down from $50 million during the same quarter last year, according to financial results released yesterday. Net income from continuing operations was about $53 million, or 53 cents per share. Operating revenue for the quarter was $475 million, up 69 percent year-over-year, primarily as a result of December's acquisition of the Local TV station group.
