Surging online businesses and broadcast units that held their own were not enough to offset declining newspaper sales at Tribune Co. and New York Times Co. At its broadcast and entertainment division, which includes MLB's Chicago Cubs, revenue fell 2% to $310 million, with TV revenue, when considered alone, also dropping 2% to $284 million -- a marked contrast to strong TV growth driven by the Winter Olympics at Gannett Co. and Media General. Tribune CEO Dennis FitzSimons said that its six Fox stations delivered good growth and added that, "In TV we expect our affiliation with the CW network to have a positive impact on revenue later this year."

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