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Revision as of 16:13, 22 August 2013 editSpshu (talk | contribs)Autopatrolled, Extended confirmed users30,712 edits →Early history: sourcing from IDCH to 1970s← Previous edit Revision as of 22:44, 22 August 2013 edit undoSpshu (talk | contribs)Autopatrolled, Extended confirmed users30,712 edits →History: to Times Mirror acq.; reorganizeNext edit →
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The corporation was reorganized in 1968 with: The corporation was reorganized in 1968 by:
*reincorporating in ] *reincorporating in ]
*ending its ] incorporation *ending its ] incorporation
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*and a seperate Chicago Tribune subsidiary.<ref name=idch/> *and a seperate Chicago Tribune subsidiary.<ref name=idch/>


⚫ The 1970s was another decade of acquisitions including a Los Angeles shopper in 1973 which became the ].<ref name=idch/> In 1973, the company began sharing stories among 25 subscribers via the newly formed ], the Knight News Wire. By 1990, this service was known as ] and provided graphics, photo and news content to its member newspapers. When ] purchased ] in 2006,<ref>, ''New York Times''</ref>

⚫ In 1973, the company began sharing stories among 25 subscribers via the newly formed ], the Knight News Wire. By 1990, this service was known as KRT (Knight-Ridder/Tribune) and provided graphics, photo and news content to its member newspapers. When ] purchased ] in 2006,<ref>, ''New York Times''</ref> KRT became MCT (McClatchy-Tribune Information Services), which is jointly owned by the Tribune Company and McClatchy.


The company stopped publishing the tabloid ] in 1974 with the Tribune going to all day edtions. With an approved changes to the Tribune bylaws in 1974 triggered a lawsuit by shareholders seeing this as moving the company towards taking it public. The lawsuit by Josephine Albright--Joseph Patterson's daughter--and her son, Joseph Albright, was dismissed in 1979.<ref name=idch/> The company stopped publishing the tabloid ] in 1974 with the Tribune going to all day edtions. With an approved changes to the Tribune bylaws in 1974 triggered a lawsuit by shareholders seeing this as moving the company towards taking it public. The lawsuit by Josephine Albright--Joseph Patterson's daughter--and her son, Joseph Albright, was dismissed in 1979.<ref name=idch/>


In 1978, WGN-TV became a "]" on cable.<ref name=idch/> The Tribune Company entered first run ] in 1975 with the ]. The ] in ] was purchased in 1977. In 1978, WGN-TV became a "]" on cable. The New York Daily News saw multiple strikes in 1978.<ref name=idch/>


In 1980 the Daily News added an afternoon edition to go head to head with the New York Post but failed with the withdrawal of the new edition in 1981. Also in 1980, the ] was launched by the company originating from WPIX TV Station. The New York Daily News was put up for sale in 1981, but a proposed deal fell through by 1982. While in August, the ] baseball team was purchased from ].<ref name=idch/>
In 1983, The Suburban Trib was replaced by zone editions of the main paper.<ref name=idch/> The '']'' in ], joined Tribune's newspaper group in 1986.


All Tribune television stations were placed under the Tribune's umbrella subsidiary, ] Company (TBC), in 1981. While the next year had all Tribune's original programming activities including the U.S. Farm Report in 1975 placed under ] Company (TEC).<ref name=idch/>
===Public corporation===
In 1983, The Suburban Trib was replaced by zone editions of the main paper. While October, Tribune Company went public with the sale of 7.7 million shares at $26.75 a share. With addition of Los Angeles ] to the Tribune Broadcasting station roster for a record $510 million in 1985, due to ] cross-media rules Tribune was force to sell Los Angeles Daily News. With the purchase of KTLA, Tribune was the fourth largest US broadcaster behind the ]. The '']'' in ], joined Tribune's newspaper group in 1986 but selling the Daily Press's cable TV operations. To counteract a possible unfriendly corporate takeovers in 1987, Tribune Company created a plan that allowed shareholders rights to purchase additional preferred shares from a new series of stock in case of a buyer buying 10 percent of the corporation's common stock or a tender offer for the company. Also, shareholders ratified a two-for-one stock split. Tribune Entertainment had a success with the 1987 launch of the ], a syndicated daytime talk show. 5 ] weekly papers were purchased in 1988.<ref name=idch/>


In the wake of a dispute with some of its labor unions, the ''Daily News'' was sold to ] businessman ] in 1991. In the wake of a dispute with some of its labor unions, the ''Daily News'' was sold to ] businessman ] in 1991.<ref name=idch/>


With the changes that came about in the media industry with the greater public access to the internet in the 1990s, ], Tribune's publishing unit, began to trim back the number of newspapers held. TBC grew and Tribune launched Tribune Ventures and Tribune Education. In 1993, TBC launched ], Chicago's first 24-hour, local news cable channel. Online editions of Tribune's newspapers were being developed starting in 1995 with Chicago Tribune's launch in 1996. Tribune (20%), also in 1996, created a joint venture with ] (80%) called ], Inc. to set up a series of Digital City websites to provide local news and information while being interactive. By 1997, Tribune Publishing had only four remaining daily newspapers: ''Chicago Tribune'', the ''Fort Lauderdale Sun-Sentinel'', the ''Orlando Sentinel'', and Virginia-based ''Daily Press''. Tribune also set up its ] to take stakes in newer media businesses. The ventures unit purchased in mid-year interest in AOL (4 percent), electronic payment specialist ] Corporation (5 percent), search engine company ], Inc. (7 percent), ], Inc. (13 percent), ], Inc. (6 percent), and ] LP (13 percent). Also that year, Orlando Sentinel and Time Warner Cable joined together to create another local news cable channel. A 31% stake in the ] was also purchased.<ref name=idch/>
⚫ In June 2000, the ]-based ] merged with Tribune, effectively doubling the size of Tribune's newspaper holdings. The ]8.3 billion transaction was the largest acquisition in the history of the newspaper industry.<ref>{{cite news|title=Tribune called on to sell L.A. Times|url=http://money.cnn.com/2006/09/18/news/companies/latimes/index.htm|accessdate=July 20, 2012|newspaper=]|date=September 18, 2006}}</ref> The Times Mirror merger added seven daily newspapers to the Tribune group, including the '']'', the ]-based '']'', '']'' and the '']''. Tribune became the only media company that owned both newspapers and television stations in the three largest ] of New York City, ] and ]. Among other advantages from the merger, including various economies of scale, Tribune's newspapers could now effectively compete for national advertising. Tribune Media Net, the national advertising sales organization of ], was established in 2000 to take advantage of the company's expanded scale and scope. By 2002, revenues had grown to $5 billion.


Beginning 1990s with six TV stations, changes in federal radio and television ownership regulations alowed Tribune TV stations group to increase over this decade. Starting with 6 TV stations, TBC purchased 10 more by 1997 with six of them in the 1997 purchase of ] Corp. for $1.1 billion in cash. Tribune purchased a 12.5% stake in ] in August 1995. 10 of its 16 stations were affiliated with the WB. Tribune invested $21 million in the WB in March 1997 which up its equity to 21.9 percent.<ref name=idch/>
⚫ Tribune also launched daily newspapers targeting urban commuters, including the ''Chicago Tribune'''s '']'' edition in 2002, followed by an investment in '']'' one year later. In 2006, Tribune acquired the minority equity interest in ''AM New York'', giving it full ownership of the newspaper. The company sold both ''Newsday'' and ''AM New York'' to ] in 2008.


Tribune formed ] thus entering a new business sector in in 1993. The sector was growing and provided high profit margins. From then to 1996, Tribune used $400 million to purchase serveral publishers of education material: ], Inc., The ], ] Corporation, ], Inc., ] Corporation, ], and ]. This group was the number one publisher in 1996 of supplemental education materials. Tribune Education took a 80.5% stake in ], a mass market children's book publisher, in 1997.<ref name=idch/>


Tribune group traded away one radio station for 2 TV stations in June 1998. While, making an even exchange of a station in Atlanta for a Seattle station in March 1999. Later that year, two more WB station wer purchased. Tribune Interactive, Inc. was incorporated to handle all the various web sites for its publishing operation, stations and newspapers. In 1999, Tribune racked up $1.47 billion in profits in 1999 on total revenues of $2.92 billion in part from gains made on the sale of some of its internet ivestments. In Feburuary 2000, Tribune acquired for $107 million the other 67% of ] LLC for full ownership of the company adding 2 more stations to reach 27% of the country.<ref name=idch/>
These stations became the foundation for ], which today is one of the country's largest independent television station groups. In October 1978, WGN-TV became one of the first national s", when ]-based ] uplinked its signal via satellite to cable systems across the United States. The present-day cable version of the Chicago station, known as ], reaches approximately 60 million U.S. homes outside of the Chicago market through cable and ].


⚫ In June 2000, the ]-based ] merged with Tribune, effectively doubling the size of Tribune's newspaper holdings. The ]8.3 billion transaction was the largest acquisition in the history of the newspaper industry.<ref>{{cite news|title=Tribune called on to sell L.A. Times|url=http://money.cnn.com/2006/09/18/news/companies/latimes/index.htm|accessdate=July 20, 2012|newspaper=]|date=September 18, 2006}}</ref> The Times Mirror merger added seven daily newspapers to the Tribune group, including the '']'', the ]-based '']'', '']'' and the '']''. Tribune became the only media company that owned both newspapers and television stations in the three largest ] of New York City, ] and ]. Among other advantages from the merger, including various economies of scale, Tribune's newspapers could now effectively compete for national advertising. Tribune Media Net, the national advertising sales organization of ], was established in 2000 to take advantage of the company's expanded scale and scope. By 2002, revenues had grown to $5 billion.
⚫ In the early 1980s, Tribune Broadcasting expanded its broadcast holdings, and moved into television production and ] through the formation of its ] subsidiary. Programs either produced or distributed by Tribune Entertainment have included '']'', '']'', '']'', and '']''. Tribune Entertainment was shut down in 2007. Tribune later announced its return to television production on March 19, 2013, with the relaunch of the production and distribution division as Tribune Studios (not to be confused with the former name of Los Angeles studio facility ], which Tribune sold in 2008).<ref>, ''Broadcasting & Cable'', March 19, 2013.</ref>


In 1993, the company launched ] (CLTV), the Chicago area's first ] ] channel; CLTV utilizes the resources of both the ''Chicago Tribune'' and WGN-TV. Tribune is also a minority owner (holding a 30% stake) in the ], along with majority partner ].


⚫ Tribune also launched daily newspapers targeting urban commuters, including the ''Chicago Tribune'''s '']'' edition in 2002, followed by an investment in '']'' one year later. In 2006, Tribune acquired the minority equity interest in ''AM New York'', giving it full ownership of the newspaper. The company sold both ''Newsday'' and ''AM New York'' to ] in 2008.
===Later expansion===
{{Refimprove section|date=July 2013}}
In 1981, Tribune acquired the ] baseball team and its stadium, ], from the ] for $20.5 million. The WGN stations in Chicago had maintained a long relationship with the team, and the company's acquisition of the Cubs further cemented the partnership.

In 1983, after 136 years of private ownership, Tribune became a publicly traded company with an ] (IPO) of 7.7 million shares valued at $206 million. The opening price per share was $26.75. At the time, it was one of the largest IPOs ever made. The company's ] ticker symbol was '''TRB'''. Tribune's total operating revenues had grown to $2.2 billion in 1995.{{citation needed|date=January 2012}}

Tribune's broadcasting subsidiary became a minority shareholder in ], a broadcast television network that was launched in partnership with the ] division of ]. Most of Tribune's television stations became affiliates of The WB when it launched on January 11, 1995 (with the exception of Atlanta station WGNX, now ]-owned ], which joined ] in December 1994 after longtime CBS affiliate ] ] to ]). During this period, Tribune's television station holdings grew, nearly tripling in number from eight in 1995 to 26 in 2004 (three of which were later sold off in 2006 to different owners) through various acquisitions, including its 1997 purchase of ]. The reverse occurred in radio, as Tribune sold all of its radio properties, with the exception of WGN (AM) in Chicago. Tribune's partnership in The WB ended in 2006, when it was shut down – along with ]-owned ] – to create ], which is jointly owned by CBS and Time Warner and is affiliated with several Tribune-owned stations;<ref>, '']'', January 24, 2006.</ref> Tribune does not maintain an ownership interest in the network.


Tribune's partnership in The WB ended in 2006, when it was shut down – along with ]-owned ] – to create ], which is jointly owned by CBS and Time Warner and is affiliated with several Tribune-owned stations;<ref>, '']'', January 24, 2006.</ref> Tribune does not maintain an ownership interest in the network.
Tribune's television stations and newspapers are complemented by several news and information websites. The sites are operated by Tribune Interactive, established in 1999. The group manages all aspects of the company's television and newspaper sites, plus special-interest sites like ChicagoSports.com and many sites featuring local dining and entertainment information. Affiliated national-brand classified advertising sites, in which Tribune owns an equity interest, include ], ] and ].


===Recent developments=== ===Zell ownership===
On April 2, 2007, Chicago-based investor ] announced plans to buy out the media company for $34.00 a share, totalling $8.2 billion.<ref name=zell/> Zell's intentions were to turn the company private. The deal was approved by 97% of the company's shareholders on August 21, 2007.<ref>{{cite news | author = Desiree J. Hanford | title = Tribune Shareholders Back Zell's Takeover | url = http://www.nytimes.com/2007/08/22/business/media/22tribune.html | work = ] | date = 2007-08-21 | accessdate = 2007-12-21 | quote = At a special shareholder meeting held in the building that The Chicago Tribune calls home, the deal won support from 97 percent of votes cast...}}</ref> Privatization of the Tribune Company occurred on December 20, 2007 with termination of trading in Tribune stock at the close of the market.<ref>{{cite news | author = Dave Carpenter |agency=Associated Press | title = Tribune buyout, at $8.2 billion, closes in Chicago | url = http://www.delawareonline.com/apps/pbcs.dll/article?AID=/20071221/BUSINESS/712210329/1003/NLETTER01 | work = The News Journal | location = Wilmington, DE | date = 2007-12-21 | accessdate = 2007-12-21 | quote = Tribune Co.'s $8.2 billion buyout closed Thursday after an 8½-month wait to secure final approval and financing, taking the ailing newspaper and TV company private under the control of real estate billionaire Sam Zell. At closing, former Clear Channel CEO ] was named CEO of Interactive and Broadcasting. Michaels also oversees most of the Tribune papers. |archiveurl = http://web.archive.org/web/20071223090732/http://www.delawareonline.com/apps/pbcs.dll/article?AID=/20071221/BUSINESS/712210329/1003/NLETTER01 |archivedate = 2007-12-23}}</ref> On April 2, 2007, Chicago-based investor ] announced plans to buy out the media company for $34.00 a share, totalling $8.2 billion.<ref name=zell/> Zell's intentions were to turn the company private. The deal was approved by 97% of the company's shareholders on August 21, 2007.<ref>{{cite news | author = Desiree J. Hanford | title = Tribune Shareholders Back Zell's Takeover | url = http://www.nytimes.com/2007/08/22/business/media/22tribune.html | work = ] | date = 2007-08-21 | accessdate = 2007-12-21 | quote = At a special shareholder meeting held in the building that The Chicago Tribune calls home, the deal won support from 97 percent of votes cast...}}</ref> Privatization of the Tribune Company occurred on December 20, 2007 with termination of trading in Tribune stock at the close of the market.<ref>{{cite news | author = Dave Carpenter |agency=Associated Press | title = Tribune buyout, at $8.2 billion, closes in Chicago | url = http://www.delawareonline.com/apps/pbcs.dll/article?AID=/20071221/BUSINESS/712210329/1003/NLETTER01 | work = The News Journal | location = Wilmington, DE | date = 2007-12-21 | accessdate = 2007-12-21 | quote = Tribune Co.'s $8.2 billion buyout closed Thursday after an 8½-month wait to secure final approval and financing, taking the ailing newspaper and TV company private under the control of real estate billionaire Sam Zell. At closing, former Clear Channel CEO ] was named CEO of Interactive and Broadcasting. Michaels also oversees most of the Tribune papers. |archiveurl = http://web.archive.org/web/20071223090732/http://www.delawareonline.com/apps/pbcs.dll/article?AID=/20071221/BUSINESS/712210329/1003/NLETTER01 |archivedate = 2007-12-23}}</ref>


On December 21, 2007, Tribune and ]-controlled ] announced plans to collaborate in the formation of a "broadcast management company" (later named The Other Company).<ref>{{cite press release | title = Tribune and Local TV to Form Broadcast Management Company | publisher = Tribune Company | date = 2007-12-20 | accessdate = 2007-12-21 | url = http://www.tribune.com/pressroom/releases/2007/12212007.html | quote = Tribune Company and Local TV have entered into a letter of intent to create a third-party broadcast management company which will provide shared services to all of the stations Local TV and Tribune Company own, respectively.}}</ref> On January 31, 2008, Tribune Company announced it would purchase real estate leased from TMCT, LLC, which includes properties used by the ''Los Angeles Times'', ''Newsday'', ''Baltimore Sun'' and ''Hartford Courant''. The company received an option to purchase the real estate for $175 million through the 2006 restructuring of TMCT, LLC. On December 21, 2007, Tribune and ]-controlled ] announced plans to collaborate in the formation of a "broadcast management company" (later named The Other Company).<ref>{{cite press release | title = Tribune and Local TV to Form Broadcast Management Company | publisher = Tribune Company | date = 2007-12-20 | accessdate = 2007-12-21 | url = http://www.tribune.com/pressroom/releases/2007/12212007.html | quote = Tribune Company and Local TV have entered into a letter of intent to create a third-party broadcast management company which will provide shared services to all of the stations Local TV and Tribune Company own, respectively.}}</ref> On January 31, 2008, Tribune Company announced it would purchase real estate leased from TMCT, LLC, which includes properties used by the ''Los Angeles Times'', ''Newsday'', ''Baltimore Sun'' and ''Hartford Courant''. The company received an option to purchase the real estate for $175 million through the 2006 restructuring of TMCT, LLC.


In addition, Tribune announced the sale of Tribune Studios and related real estate in Los Angeles to ] ], for $125 million. The parties also agreed to a five-year lease allowing its television station in the city, KTLA, to continue operating at the location through 2012.<ref>{{cite press release | title = Tribune to Acquire Real Estate from TMCT Partnership | publisher = Tribune Company | date = 2008-01-31 | accessdate = 2007-12-21 | url = http://www.tribune.com/pressroom/releases/2008/01312008.html | quote = Tribune Company today announced it will purchase real estate leased from TMCT, LLC, which includes properties used by the ''Los Angeles Times'', ''Newsday'', ''Baltimore Sun'' and ''Hartford Courant''. The company received an option to purchase the real estate for $175 million through the 2006 restructuring of TMCT, LLC.}}</ref> In addition, Tribune announced the sale of ] and related real estate in Los Angeles to ] ], for $125 million. The parties also agreed to a five-year lease allowing its television station in the city, KTLA, to continue operating at the location through 2012.<ref>{{cite press release | title = Tribune to Acquire Real Estate from TMCT Partnership | publisher = Tribune Company | date = 2008-01-31 | accessdate = 2007-12-21 | url = http://www.tribune.com/pressroom/releases/2008/01312008.html | quote = Tribune Company today announced it will purchase real estate leased from TMCT, LLC, which includes properties used by the ''Los Angeles Times'', ''Newsday'', ''Baltimore Sun'' and ''Hartford Courant''. The company received an option to purchase the real estate for $175 million through the 2006 restructuring of TMCT, LLC.}}</ref>


On February 4, 2008, Tribune Company named broadcast veteran Ed Wilson as president of Tribune Broadcasting, overseeing the company's 23 television stations, Superstation WGN, Tribune Entertainment and WGN Radio; Wilson joined the company on February 11.<ref>{{cite press release | title = Ed Wilson Named President of Tribune Broadcasting. | publisher = Tribune Company | date = 2008-02-04 | accessdate = 2007-12-21 | url = http://www.tribune.com/pressroom/releases/2008/02042008.html | quote = Tribune Company today named broadcast veteran ] as president of Tribune Broadcasting, overseeing the company's 23 television stations, Superstation WGN, Tribune Entertainment, and WGN Radio. His appointment is effective February 11.}}</ref> On February 4, 2008, Tribune Company named broadcast veteran Ed Wilson as president of Tribune Broadcasting, overseeing the company's 23 television stations, Superstation WGN, Tribune Entertainment and WGN Radio; Wilson joined the company on February 11.<ref>{{cite press release | title = Ed Wilson Named President of Tribune Broadcasting. | publisher = Tribune Company | date = 2008-02-04 | accessdate = 2007-12-21 | url = http://www.tribune.com/pressroom/releases/2008/02042008.html | quote = Tribune Company today named broadcast veteran ] as president of Tribune Broadcasting, overseeing the company's 23 television stations, Superstation WGN, Tribune Entertainment, and WGN Radio. His appointment is effective February 11.}}</ref>
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On September 8, 2008, ] lost (and later the same day almost regained) $1 billion in market value when an archived ''Chicago Tribune'' article from 2002 about United filing for bankruptcy appeared in the "most viewed" category on the '']''<nowiki>'</nowiki>s website. ] index's next pass found the link as new news. Income Security Advisors found the Google result to be new news, which was passed along to ] where it became a headline (Tribune, which owns both papers, noted that one click on a story in non-peak hours could flag an article as "most viewed".<ref name=Helft>{{cite news|author=Helft, Miguel|title=How a Series of Mistakes Hurt Shares of United|url=http://www.nytimes.com/2008/09/15/technology/15google.html|work=] |accessdate=2008-09-15 | date=September 15, 2008}}</ref>). On September 8, 2008, ] lost (and later the same day almost regained) $1 billion in market value when an archived ''Chicago Tribune'' article from 2002 about United filing for bankruptcy appeared in the "most viewed" category on the '']''<nowiki>'</nowiki>s website. ] index's next pass found the link as new news. Income Security Advisors found the Google result to be new news, which was passed along to ] where it became a headline (Tribune, which owns both papers, noted that one click on a story in non-peak hours could flag an article as "most viewed".<ref name=Helft>{{cite news|author=Helft, Miguel|title=How a Series of Mistakes Hurt Shares of United|url=http://www.nytimes.com/2008/09/15/technology/15google.html|work=] |accessdate=2008-09-15 | date=September 15, 2008}}</ref>).
===Bankruptcy filing===

On December 8, 2008, faced with a high debt load related to the company going private and a sharp downturn in newspaper advertising revenue, Tribune filed for ].<ref> ''Chicago Breaking News''. Retrieved December 8, 2008.</ref> Company plans originally called for it to emerge from bankruptcy by May 31, 2010,<ref>, 2009-11-14</ref> but the company would end up in protracted bankruptcy proceedings for another four years. With the company's overall debt totaling $13 billion, it was the largest bankruptcy in the history of the American media industry.<ref name=zell>{{cite news |author=] |title=At Flagging Tribune, Tales of a Bankrupt Culture |url=http://www.nytimes.com/2010/10/06/business/media/06tribune.html |quote=Less than a year after Mr. Zell bought the company, it tipped into bankruptcy, listing $7.6 billion in assets against a debt of $13 billion, making it the largest bankruptcy in the history of the American media industry. |work=] |date=October 5, 2010 |accessdate=2010-10-06 }}</ref> On December 8, 2008, faced with a high debt load related to the company going private and a sharp downturn in newspaper advertising revenue, Tribune filed for ].<ref> ''Chicago Breaking News''. Retrieved December 8, 2008.</ref> Company plans originally called for it to emerge from bankruptcy by May 31, 2010,<ref>, 2009-11-14</ref> but the company would end up in protracted bankruptcy proceedings for another four years. With the company's overall debt totaling $13 billion, it was the largest bankruptcy in the history of the American media industry.<ref name=zell>{{cite news |author=] |title=At Flagging Tribune, Tales of a Bankrupt Culture |url=http://www.nytimes.com/2010/10/06/business/media/06tribune.html |quote=Less than a year after Mr. Zell bought the company, it tipped into bankruptcy, listing $7.6 billion in assets against a debt of $13 billion, making it the largest bankruptcy in the history of the American media industry. |work=] |date=October 5, 2010 |accessdate=2010-10-06 }}</ref>


On October 27, 2009, ] purchased a majority ownership (95%) of the Chicago Cubs. The sale also included Wrigley Field and a 25 percent ownership stake in ], as part of a deal designed to help Tribune restructure.<ref>{{cite web|author=October 27, 2009 8:59 AM |url=http://www.chicagobreakingsports.com/2009/10/cubs-sale-to-ricketts-is-complete.html |title=Cubs sale to Ricketts is complete |publisher=Chicagobreakingsports.com |date=2009-10-27 |accessdate=2012-01-08}}</ref> In October 2010, ], who was made CEO after Zell's purchase of the company, was removed and replaced by an executive council. The '']'' had reported earlier in the month about his "outlandish, often sexual behavior" that he also exercised in his previous job at ].<ref>{{cite news | title = Tribune Chief Accepts Advice and Backs Out | work = The New York Times | date = 2010-10-22 | accessdate = 2011-10-24 | url = http://www.nytimes.com/2010/10/23/business/media/23tribune.html}}</ref><ref>"Right of the Dial", 2008; ISBN 0-571-21106-2</ref> On October 27, 2009, ] purchased a majority ownership (95%) of the Chicago Cubs. The sale also included Wrigley Field and a 25 percent ownership stake in ], as part of a deal designed to help Tribune restructure.<ref>{{cite web|author=October 27, 2009 8:59 AM |url=http://www.chicagobreakingsports.com/2009/10/cubs-sale-to-ricketts-is-complete.html |title=Cubs sale to Ricketts is complete |publisher=Chicagobreakingsports.com |date=2009-10-27 |accessdate=2012-01-08}}</ref> In October 2010, ], who was made CEO after Zell's purchase of the company, was removed and replaced by an executive council. The '']'' had reported earlier in the month about his "outlandish, often sexual behavior" that he also exercised in his previous job at ].<ref>{{cite news | title = Tribune Chief Accepts Advice and Backs Out | work = The New York Times | date = 2010-10-22 | accessdate = 2011-10-24 | url = http://www.nytimes.com/2010/10/23/business/media/23tribune.html}}</ref><ref>"Right of the Dial", 2008; ISBN 0-571-21106-2</ref>
===Reorganized===

On July 13, 2012, Tribune Company received approval of a reorganization plan to allow the company to emerge from Chapter 11 bankruptcy protection in a ] ]. ], ] and ], which are the company's senior debt holders, assumed control of Tribune's properties upon the company's exit from bankruptcy on December 31, 2012.<ref>, ''TVNewsCheck'', Associated Press, July 13, 2012</ref><ref name=ct-finallyemerging>{{cite news|last=Channick|first=Robert|title=Tribune Co. to emerge from bankruptcy Monday|url=http://www.chicagotribune.com/news/local/breaking/chi-a-new-era-dawning-for-tribune-co-20121230,0,2026865.story|accessdate=December 31, 2012|newspaper=]|date=December 30, 2012}}</ref> On July 13, 2012, Tribune Company received approval of a reorganization plan to allow the company to emerge from Chapter 11 bankruptcy protection in a ] ]. ], ] and ], which are the company's senior debt holders, assumed control of Tribune's properties upon the company's exit from bankruptcy on December 31, 2012.<ref>, ''TVNewsCheck'', Associated Press, July 13, 2012</ref><ref name=ct-finallyemerging>{{cite news|last=Channick|first=Robert|title=Tribune Co. to emerge from bankruptcy Monday|url=http://www.chicagotribune.com/news/local/breaking/chi-a-new-era-dawning-for-tribune-co-20121230,0,2026865.story|accessdate=December 31, 2012|newspaper=]|date=December 30, 2012}}</ref>


On February 26, 2013, it was reported that Tribune hired investment firms ] and ] to oversee the sale of its newspapers.<ref>{{Cite news|url=http://www.bizjournals.com/baltimore/news/2013/02/26/baltimore-sun-owner-tribune-to-begin.html|title=Baltimore Sun owner Tribune to begin selling newspaper assets, report says|first=Sarah|last=Meehan|work=Baltimore Business Journal|date=February 26, 2013|accessdate=February 26, 2013}}</ref> On July 1, 2013, Tribune announced that it would purchase the 19 stations owned by ] outright for $2.75 billion.<ref name=tribune-localtv>{{cite news|title=Acquisition to make Tribune Co. largest U.S. TV station operator|url=http://www.chicagotribune.com/business/breaking/chi-tribune-buying-local-tv-20130701,0,3402241.story|work=Chicago Tribune|accessdate=July 1, 2013}}</ref> On February 26, 2013, it was reported that Tribune hired investment firms ] and ] to oversee the sale of its newspapers.<ref>{{Cite news|url=http://www.bizjournals.com/baltimore/news/2013/02/26/baltimore-sun-owner-tribune-to-begin.html|title=Baltimore Sun owner Tribune to begin selling newspaper assets, report says|first=Sarah|last=Meehan|work=Baltimore Business Journal|date=February 26, 2013|accessdate=February 26, 2013}}</ref> On July 1, 2013, Tribune announced that it would purchase the 19 stations owned by ] outright for $2.75 billion.<ref name=tribune-localtv>{{cite news|title=Acquisition to make Tribune Co. largest U.S. TV station operator|url=http://www.chicagotribune.com/business/breaking/chi-tribune-buying-local-tv-20130701,0,3402241.story|work=Chicago Tribune|accessdate=July 1, 2013}}</ref>

⚫ Tribune later announced its return to television production on March 19, 2013, with the relaunch of the production and distribution division as Tribune Studios (not to be confused with the former name of Los Angeles studio facility ].<ref>, ''Broadcasting & Cable'', March 19, 2013.</ref>


On July 10, 2013, Tribune announced that it would split into two companies, ] the newspapers that are part of its ] into the Tribune Publishing Company. Its broadcasting, digital media and other assets (including ], which among others, provides news and features content for Tribune's newspapers) would remain with the Tribune Company.<ref name=NewYorkTimes>{{cite news|title=Tribune Co. to Split in Two|url=http://www.nytimes.com/2013/07/11/business/media/tribune-co-to-split-in-two.html?_r=0|work=New York Times|accessdate=July 10, 2013}}</ref> On July 10, 2013, Tribune announced that it would split into two companies, ] the newspapers that are part of its ] into the Tribune Publishing Company. Its broadcasting, digital media and other assets (including ], which among others, provides news and features content for Tribune's newspapers) would remain with the Tribune Company.<ref name=NewYorkTimes>{{cite news|title=Tribune Co. to Split in Two|url=http://www.nytimes.com/2013/07/11/business/media/tribune-co-to-split-in-two.html?_r=0|work=New York Times|accessdate=July 10, 2013}}</ref>

Revision as of 22:44, 22 August 2013

Tribune Company
Company typePublic
Traded asTemplate:Otcbb
IndustryNews, entertainment, broadcasting
Founded1847
HeadquartersChicago, Illinois
Key peoplePeter Liguori, President/CEO
ProductsTelevision, newspapers, radio, television production
RevenueIncrease US$3.18 billion (FY 2010)
OwnerOaktree Capital (23%)
Angelo, Gordon & Co. (9%)
JPMorgan Chase & Co. (9%)
(corporate employees hold the remaining 48% ownership interest)
Number of employees14,000
WebsiteTribune.com
The Tribune Tower on Michigan Avenue in downtown Chicago is the headquarters of the Tribune Company.

The Tribune Company is an American multimedia corporation based in Chicago, Illinois. Although majority owned (48%) by its corporate employees, Tribune is jointly controlled by the company's three senior debt holders: Oaktree Capital Management (which owns a 23% interest), Angelo, Gordon & Co. and JPMorgan Chase (which both own 9%).

It is the nation's second-largest newspaper publisher (behind the Gannett Company), with ten daily newspapers and several commuter tabloids including the Chicago Tribune, Los Angeles Times, Orlando Sentinel, Sun-Sentinel and the Baltimore Sun. Through Tribune Broadcasting, the company owns 23 television stations, national cable superstation WGN America, regional cable news channel Chicagoland Television (CLTV) and Chicago's WGN radio. Investment interests include Food Network (which the company maintains a 31% ownership interest).

Tribune Digital Ventures, another subsidiary, manages the interactive operations of major daily newspapers such as the Chicago Tribune and Los Angeles Times and their associated websites. Its national network sites owned with partners include CareerBuilder.com, Cars.com, Apartments.com and Topix.net. Its Tribune Media Services division provides syndicated content to print and electronic media. Key company investment interests include CareerBuilder (30.8% owned), Classified Ventures (28%) and Topix.com (34%).

History

Print pioneer

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The Tribune Company was founded in 1847; that year, on June 10, the Chicago Daily Tribune (after which the company is named) published its first edition in a one-room plant located at LaSalle and Lake Streets. The original press run consisted of 400 copies printed on a hand press. The Tribune constructed its first building, a four-story structure at Dearborn and Madison Streets, in 1869. In October 1871, the Great Chicago Fire destroyed the building, along with most of the city. The Tribune printed its first edition since the disaster two days later with an editorial declaring "Chicago Shall Rise Again." A native Ohioan who first acquired an interest in the Tribune in 1855, Joseph Medill gained full control of the newspaper in 1874 and ran it until his death in 1899.

Medill's two grandsons, cousins Robert R. McCormick and Joseph Medill Patterson, assumed leadership of the company in 1911. That same year, the Chicago Tribune's first newsprint mill opened in Thorold, Ontario, Canada. The mill marked the beginnings of the Canadian newsprint producer later known as QUNO, in which Tribune held an investment interest until 1995.

Patterson's establishment of the company's second newspaper, the New York News in 1919. Tribune's ownership of the New York City tabloid was considered "interlocking" due to an agreement between McCormick and Patterson.

The paper launched a European edition during World War I. To compete with the Saturday Evening Post and Collier's in 1924, the Tribune Company launched a weekly national magazine, Liberty, run by a subsidiary.

Move into broadcasting

Main article: Tribune Broadcasting
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The company entered broadcasting in 1924 by leasing WDAP, one of Chicago's first radio stations. Tribune later changed the station's call letters to WGN, reflecting the Tribune's nick name, "World's Greatest Newspaper." WGN was purchased in 1926 and when on to be first in the radio industry.

In 1925, the company completed its new headquarters and one of Chicago's first "skyscrapers", the Tribune Tower. Also that year, the company decided to fund the future Joseph Medill School of Journalism at Northwestern University.

The Liberty magazine eventually exceeded Collier's circulation but lacked enough advertising and was sold in 1931. The Tribune's European edition was also cut. However the Tribune Company launched in 1933 the Chicago Tribune-New York News Syndicate.

With the death of Joe Patterson's sister and owner of the Washington Times-Herald, Eleanor (Cissy) Patterson, in 1948, the Tribune Company purchased the paper and operated it until 1954, when the Washington Post absorbed the Times-Herald. The Tribune expecting a printer's strike in 1948 printed their paper early proclaming incorrectly "Dewey Defeats Truman" in the 1948 presidential election. Tribune moved into the television industry, then in its infancy, in 1948, with the establishments of WGN-TV in Chicago in April and WPIX in New York City in June of that year. In 1956, Tribune Company purchased William Randolph Hearst's Chicago American.


In the 1960s, the company entered the fast-growing Florida market, acquiring the Fort Lauderdale-based Gore Newspapers Company, owner of the Pompano Sun-Sentinel and Fort Lauderdale News in 1963 and the Sentinel-Star Company, owners of the Orlando Sentinel, in 1965. Also in 1963, some of part of the folded New York Mirror were purchased. The company increased its broadcast stations holding with the acquistion of WQCD-FM in 1964 and KWGN-TV in 1965. While in 1967, a Chicago suburban tabloid, The Suburban Trib, began printing.


The corporation was reorganized in 1968 by:

  • reincorporating in Delaware
  • ending its Illinois incorporation
  • spliting its stock by four for one
  • and a seperate Chicago Tribune subsidiary.

The 1970s was another decade of acquisitions including a Los Angeles shopper in 1973 which became the Los Angeles Daily News. In 1973, the company began sharing stories among 25 subscribers via the newly formed news service, the Knight News Wire. By 1990, this service was known as KRT (Knight-Ridder/Tribune) and provided graphics, photo and news content to its member newspapers. When The McClatchy Company purchased Knight-Ridder Inc. in 2006,

The company stopped publishing the tabloid Chicago Today in 1974 with the Tribune going to all day edtions. With an approved changes to the Tribune bylaws in 1974 triggered a lawsuit by shareholders seeing this as moving the company towards taking it public. The lawsuit by Josephine Albright--Joseph Patterson's daughter--and her son, Joseph Albright, was dismissed in 1979.

The Tribune Company entered first run syndication in 1975 with the U.S. Farm Report. The Times-Advocate in Escondido, California was purchased in 1977. In 1978, WGN-TV became a "superstation" on cable. The New York Daily News saw multiple strikes in 1978.

In 1980 the Daily News added an afternoon edition to go head to head with the New York Post but failed with the withdrawal of the new edition in 1981. Also in 1980, the Independent Network News was launched by the company originating from WPIX TV Station. The New York Daily News was put up for sale in 1981, but a proposed deal fell through by 1982. While in August, the Chicago Cubs baseball team was purchased from William Wrigley.

All Tribune television stations were placed under the Tribune's umbrella subsidiary, Tribune Broadcasting Company (TBC), in 1981. While the next year had all Tribune's original programming activities including the U.S. Farm Report in 1975 placed under Tribune Entertainment Company (TEC).

Public corporation

In 1983, The Suburban Trib was replaced by zone editions of the main paper. While October, Tribune Company went public with the sale of 7.7 million shares at $26.75 a share. With addition of Los Angeles KTLA-TV to the Tribune Broadcasting station roster for a record $510 million in 1985, due to FCC cross-media rules Tribune was force to sell Los Angeles Daily News. With the purchase of KTLA, Tribune was the fourth largest US broadcaster behind the three major networks. The Daily Press in Newport News, Virginia, joined Tribune's newspaper group in 1986 but selling the Daily Press's cable TV operations. To counteract a possible unfriendly corporate takeovers in 1987, Tribune Company created a plan that allowed shareholders rights to purchase additional preferred shares from a new series of stock in case of a buyer buying 10 percent of the corporation's common stock or a tender offer for the company. Also, shareholders ratified a two-for-one stock split. Tribune Entertainment had a success with the 1987 launch of the Geraldo Rivera Show, a syndicated daytime talk show. 5 Santa Clara County, California weekly papers were purchased in 1988.

In the wake of a dispute with some of its labor unions, the Daily News was sold to British businessman Robert Maxwell in 1991.

With the changes that came about in the media industry with the greater public access to the internet in the 1990s, Tribune Publishing, Tribune's publishing unit, began to trim back the number of newspapers held. TBC grew and Tribune launched Tribune Ventures and Tribune Education. In 1993, TBC launched CLTV News, Chicago's first 24-hour, local news cable channel. Online editions of Tribune's newspapers were being developed starting in 1995 with Chicago Tribune's launch in 1996. Tribune (20%), also in 1996, created a joint venture with American Online (80%) called Digital City, Inc. to set up a series of Digital City websites to provide local news and information while being interactive. By 1997, Tribune Publishing had only four remaining daily newspapers: Chicago Tribune, the Fort Lauderdale Sun-Sentinel, the Orlando Sentinel, and Virginia-based Daily Press. Tribune also set up its Tribune Ventures to take stakes in newer media businesses. The ventures unit purchased in mid-year interest in AOL (4 percent), electronic payment specialist CheckFree Corporation (5 percent), search engine company Excite, Inc. (7 percent), Mercury Mail, Inc. (13 percent), Open Market, Inc. (6 percent), and Peapod LP (13 percent). Also that year, Orlando Sentinel and Time Warner Cable joined together to create another local news cable channel. A 31% stake in the Food Network was also purchased.

Beginning 1990s with six TV stations, changes in federal radio and television ownership regulations alowed Tribune TV stations group to increase over this decade. Starting with 6 TV stations, TBC purchased 10 more by 1997 with six of them in the 1997 purchase of Renaissance Communications Corp. for $1.1 billion in cash. Tribune purchased a 12.5% stake in Warner Bros. Television Network in August 1995. 10 of its 16 stations were affiliated with the WB. Tribune invested $21 million in the WB in March 1997 which up its equity to 21.9 percent.

Tribune formed Tribune Education thus entering a new business sector in in 1993. The sector was growing and provided high profit margins. From then to 1996, Tribune used $400 million to purchase serveral publishers of education material: Contemporary Books, Inc., The Wright Group, Everyday Learning Corporation, Jamestown Publishers, Inc., Educational Publishing Corporation, NTC Publishing Group, and Janson Publications. This group was the number one publisher in 1996 of supplemental education materials. Tribune Education took a 80.5% stake in Landoll, a mass market children's book publisher, in 1997.

Tribune group traded away one radio station for 2 TV stations in June 1998. While, making an even exchange of a station in Atlanta for a Seattle station in March 1999. Later that year, two more WB station wer purchased. Tribune Interactive, Inc. was incorporated to handle all the various web sites for its publishing operation, stations and newspapers. In 1999, Tribune racked up $1.47 billion in profits in 1999 on total revenues of $2.92 billion in part from gains made on the sale of some of its internet ivestments. In Feburuary 2000, Tribune acquired for $107 million the other 67% of Qwest Broadcasting LLC for full ownership of the company adding 2 more stations to reach 27% of the country.

In June 2000, the Los Angeles-based Times Mirror Company merged with Tribune, effectively doubling the size of Tribune's newspaper holdings. The $8.3 billion transaction was the largest acquisition in the history of the newspaper industry. The Times Mirror merger added seven daily newspapers to the Tribune group, including the Los Angeles Times, the Long Island-based Newsday, The Baltimore Sun and the Hartford Courant. Tribune became the only media company that owned both newspapers and television stations in the three largest media markets of New York City, Los Angeles and Chicago. Among other advantages from the merger, including various economies of scale, Tribune's newspapers could now effectively compete for national advertising. Tribune Media Net, the national advertising sales organization of Tribune Publishing, was established in 2000 to take advantage of the company's expanded scale and scope. By 2002, revenues had grown to $5 billion.


Tribune also launched daily newspapers targeting urban commuters, including the Chicago Tribune's RedEye edition in 2002, followed by an investment in AM New York one year later. In 2006, Tribune acquired the minority equity interest in AM New York, giving it full ownership of the newspaper. The company sold both Newsday and AM New York to Cablevision Systems Corporation in 2008.

Tribune's partnership in The WB ended in 2006, when it was shut down – along with CBS-owned UPN – to create The CW Television Network, which is jointly owned by CBS and Time Warner and is affiliated with several Tribune-owned stations; Tribune does not maintain an ownership interest in the network.

Zell ownership

On April 2, 2007, Chicago-based investor Sam Zell announced plans to buy out the media company for $34.00 a share, totalling $8.2 billion. Zell's intentions were to turn the company private. The deal was approved by 97% of the company's shareholders on August 21, 2007. Privatization of the Tribune Company occurred on December 20, 2007 with termination of trading in Tribune stock at the close of the market.

On December 21, 2007, Tribune and Oak Hill Capital Partners-controlled Local TV, LLC announced plans to collaborate in the formation of a "broadcast management company" (later named The Other Company). On January 31, 2008, Tribune Company announced it would purchase real estate leased from TMCT, LLC, which includes properties used by the Los Angeles Times, Newsday, Baltimore Sun and Hartford Courant. The company received an option to purchase the real estate for $175 million through the 2006 restructuring of TMCT, LLC.

In addition, Tribune announced the sale of Tribune Studios and related real estate in Los Angeles to private equity firm Hudson Capital, LLC, for $125 million. The parties also agreed to a five-year lease allowing its television station in the city, KTLA, to continue operating at the location through 2012.

On February 4, 2008, Tribune Company named broadcast veteran Ed Wilson as president of Tribune Broadcasting, overseeing the company's 23 television stations, Superstation WGN, Tribune Entertainment and WGN Radio; Wilson joined the company on February 11.

On April 28, 2008, Tribune completed an acquisition of real estate from TMCT Partnership. On July 29, 2008, Cablevision Systems Corporation completed its purchase of Newsday from Tribune.

On September 8, 2008, United Airlines lost (and later the same day almost regained) $1 billion in market value when an archived Chicago Tribune article from 2002 about United filing for bankruptcy appeared in the "most viewed" category on the South Florida Sun-Sentinel's website. Google News index's next pass found the link as new news. Income Security Advisors found the Google result to be new news, which was passed along to Bloomberg News where it became a headline (Tribune, which owns both papers, noted that one click on a story in non-peak hours could flag an article as "most viewed".).

Bankruptcy filing

On December 8, 2008, faced with a high debt load related to the company going private and a sharp downturn in newspaper advertising revenue, Tribune filed for Chapter 11 bankruptcy protection. Company plans originally called for it to emerge from bankruptcy by May 31, 2010, but the company would end up in protracted bankruptcy proceedings for another four years. With the company's overall debt totaling $13 billion, it was the largest bankruptcy in the history of the American media industry.

On October 27, 2009, Thomas S. Ricketts purchased a majority ownership (95%) of the Chicago Cubs. The sale also included Wrigley Field and a 25 percent ownership stake in Comcast SportsNet Chicago, as part of a deal designed to help Tribune restructure. In October 2010, Randy Michaels, who was made CEO after Zell's purchase of the company, was removed and replaced by an executive council. The New York Times had reported earlier in the month about his "outlandish, often sexual behavior" that he also exercised in his previous job at Clear Channel Communications.

Reorganized

On July 13, 2012, Tribune Company received approval of a reorganization plan to allow the company to emerge from Chapter 11 bankruptcy protection in a Delaware bankruptcy court. Oaktree Capital Management, JPMorgan Chase and Angelo, Gordon & Co., which are the company's senior debt holders, assumed control of Tribune's properties upon the company's exit from bankruptcy on December 31, 2012.

On February 26, 2013, it was reported that Tribune hired investment firms Evercore Partners and J.P. Morgan to oversee the sale of its newspapers. On July 1, 2013, Tribune announced that it would purchase the 19 stations owned by Local TV, LLC outright for $2.75 billion.

Tribune later announced its return to television production on March 19, 2013, with the relaunch of the production and distribution division as Tribune Studios (not to be confused with the former name of Los Angeles studio facility Sunset Bronson Studios.

On July 10, 2013, Tribune announced that it would split into two companies, spinning off the newspapers that are part of its publishing division into the Tribune Publishing Company. Its broadcasting, digital media and other assets (including Tribune Media Services, which among others, provides news and features content for Tribune's newspapers) would remain with the Tribune Company.

Assets

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Print media

English-language newspapers:

Spanish-language newspapers:

Broadcast media

For a complete list of the company's past and present broadcast holdings, please see Tribune Broadcasting.

Cable television

Digital assets

Note: This list is partial.

Website Link Affiliates
CareerBuilder CareerBuilder.com McClatchy and Gannett
Forsalebyowner.com ForSalebyowner.com Wholly owned
GreatDealsInMyCity.com GreatDealsInMyCity.com Wholly owned
Metromix Metromix.com Gannett
Topix.net Topix.net McClatchy and Gannett

See also

References

  1. ^ Tribune Company. Answers.com. International Directory of Company Histories, The Gale Group, Inc, 2006. Accessed August 22, 2013.
  2. "Newspaper Chain Agrees to a Sale for $4.5 Billion", New York Times
  3. "Tribune called on to sell L.A. Times". CNN. September 18, 2006. Retrieved July 20, 2012.
  4. UPN and WB to Combine, Forming New TV Network, The New York Times, January 24, 2006.
  5. ^ David Carr (October 5, 2010). "At Flagging Tribune, Tales of a Bankrupt Culture". The New York Times. Retrieved 2010-10-06. Less than a year after Mr. Zell bought the company, it tipped into bankruptcy, listing $7.6 billion in assets against a debt of $13 billion, making it the largest bankruptcy in the history of the American media industry.
  6. Desiree J. Hanford (2007-08-21). "Tribune Shareholders Back Zell's Takeover". The New York Times. Retrieved 2007-12-21. At a special shareholder meeting held in the building that The Chicago Tribune calls home, the deal won support from 97 percent of votes cast...
  7. Dave Carpenter (2007-12-21). "Tribune buyout, at $8.2 billion, closes in Chicago". The News Journal. Wilmington, DE. Associated Press. Archived from the original on 2007-12-23. Retrieved 2007-12-21. Tribune Co.'s $8.2 billion buyout closed Thursday after an 8½-month wait to secure final approval and financing, taking the ailing newspaper and TV company private under the control of real estate billionaire Sam Zell. At closing, former Clear Channel CEO Randy Michaels was named CEO of Interactive and Broadcasting. Michaels also oversees most of the Tribune papers.
  8. "Tribune and Local TV to Form Broadcast Management Company" (Press release). Tribune Company. 2007-12-20. Retrieved 2007-12-21. Tribune Company and Local TV have entered into a letter of intent to create a third-party broadcast management company which will provide shared services to all of the stations Local TV and Tribune Company own, respectively.
  9. "Tribune to Acquire Real Estate from TMCT Partnership" (Press release). Tribune Company. 2008-01-31. Retrieved 2007-12-21. Tribune Company today announced it will purchase real estate leased from TMCT, LLC, which includes properties used by the Los Angeles Times, Newsday, Baltimore Sun and Hartford Courant. The company received an option to purchase the real estate for $175 million through the 2006 restructuring of TMCT, LLC.
  10. "Ed Wilson Named President of Tribune Broadcasting" (Press release). Tribune Company. 2008-02-04. Retrieved 2007-12-21. Tribune Company today named broadcast veteran Ed Wilson as president of Tribune Broadcasting, overseeing the company's 23 television stations, Superstation WGN, Tribune Entertainment, and WGN Radio. His appointment is effective February 11.
  11. "Tribune Completes Acquisition of Real Estate from TMCT Partnership" (Press release). Tribune Company. 2008-04-28. Retrieved 2007-12-21. Tribune Completes Acquisition of Real Estate from TMCT Partnership.
  12. "Cablevision Completes Newsday Buy from Tribune". Broadcasting and Cable (Press release). 2008-04-28. Retrieved 2007-12-21. Tribune Completes Acquisition of Real Estate from TMCT Partnership.
  13. Helft, Miguel (September 15, 2008). "How a Series of Mistakes Hurt Shares of United". The New York Times. Retrieved 2008-09-15.
  14. Tribune files for bankruptcy Chicago Breaking News. Retrieved December 8, 2008.
  15. LA Times article, 2009-11-14
  16. October 27, 2009 8:59 AM (2009-10-27). "Cubs sale to Ricketts is complete". Chicagobreakingsports.com. Retrieved 2012-01-08.{{cite web}}: CS1 maint: numeric names: authors list (link)
  17. "Tribune Chief Accepts Advice and Backs Out". The New York Times. 2010-10-22. Retrieved 2011-10-24.
  18. "Right of the Dial", 2008; ISBN 0-571-21106-2
  19. Bankruptcy-Exit Plan Gets OK, TVNewsCheck, Associated Press, July 13, 2012
  20. Channick, Robert (December 30, 2012). "Tribune Co. to emerge from bankruptcy Monday". Chicago Tribune. Retrieved December 31, 2012.
  21. Meehan, Sarah (February 26, 2013). "Baltimore Sun owner Tribune to begin selling newspaper assets, report says". Baltimore Business Journal. Retrieved February 26, 2013.
  22. "Acquisition to make Tribune Co. largest U.S. TV station operator". Chicago Tribune. Retrieved July 1, 2013.
  23. Tribune Re-Launching Studio With Matt Cherniss at Helm, Broadcasting & Cable, March 19, 2013.
  24. "Tribune Co. to Split in Two". New York Times. Retrieved July 10, 2013.

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