Tribune Co. revenue falls nearly 11 percent

Chicago-based Tribune Co. says it swung to a third-quarter loss of $121.6 million as newspaper advertising revenue fell.

The loss reported by the owner of the Chicago Tribune and the Los Angeles Times was a steep decline from profit of $152.8 million a year ago.

Revenue fell nearly 11 percent to $1.04 billion from $1.16 billion last year.

Tribune CEO Sam Zell says the Tribune, like the rest of the newspaper industry, is operating in "an exceptionally difficult financial and economic environment."