46 Facts About Tribune Company

Tribune Media Company, known as Tribune Company, was an American multimedia conglomerate headquartered in Chicago, Illinois.

The subsequent 2008 bankruptcy of Tribune Company was the largest bankruptcy in the history of the American media industry.

Tribune Company announced its sale to Hunt Valley, Maryland-based Sinclair Broadcast Group on May 8,2017, but on August 9,2018, Tribune Company cancelled the sale and sued Sinclair for breach of contract.

Tribune Company was founded on June 10,1847 when the eponymous Chicago Daily Tribune published its first edition in a one-room plant located at LaSalle and Lake Streets in downtown Chicago.

The Tribune Company constructed its first building, a four-story structure at Dearborn and Madison Streets, in 1869.

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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, McCormick-Patterson.

Tribune Company entered broadcasting in 1924 by leasing WDAP, one of Chicago's first radio stations.

However, Tribune Company launched the Chicago Tribune Company-New York News Syndicate content syndication service in 1933.

Tribune Company entered the television industry then in its infancy, in 1948, with the establishment of WGN-TV in Chicago in April and WPIX in New York City in June of that year.

In 1956, the Tribune Company purchased the Chicago American from William Randolph Hearst.

Tribune Company entered first-run television syndication in 1975 with the debut of the U S Farm Report.

The following year, Tribune formed the Tribune Entertainment Company as a production subsidiary to produce the company's existing syndicated programs including the U S Farm Report, as well as newer shows.

In 1985, Tribune Company Broadcasting acquired Los Angeles independent station KTLA from Kohlberg Kravis Roberts for a record $510 million.

Tribune Company Entertainment experienced success in 1987 with the launch of the syndicated daytime talk show Geraldo.

In 1988, Tribune Company purchased five weekly papers based in Santa Clara County, California.

In 1993, Tribune Company Broadcasting launched Chicagoland Television, a 24-hour local cable news channel for the Chicago area.

Also in 1996, Tribune Company created a joint venture with American Online called Digital City, Inc to set up a series of Digital City websites to provide interactive local news and information services.

Tribune Company set up its Tribune Company Ventures division to acquire stakes in newer media businesses.

Company began the 1990s with six television stations, but changes to federal radio and television ownership regulations allowed Tribune to expand its television station holdings over the next decade.

Tribune Company Broadcasting purchased ten additional stations by 1997, six of them acquired through that year's purchase of Renaissance Broadcasting for $1.

Tribune Company invested $21 million in The WB in March 1997, which increased its equity interest in the network to 21.

In November 1994, Tribune Company Broadcasting formed a partnership with several minority partners, including Quincy Jones, to form Qwest Broadcasting.

Tribune Company entered into a new business sector when it formed Tribune Company Education in 1993.

In June 1998, Tribune entered into a trade with Emmis Communications to swap WQCD-FM to the latter company, in exchange for acquiring two Emmis-owned television stations .

In June 2000, Tribune acquired the Los Angeles–based Times Mirror Company in a US$8.

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The Times Mirror merger added seven daily newspapers to Tribune Company's existing publishing properties, including the Los Angeles Times, the Long Island-based Newsday, The Baltimore Sun and the Hartford Courant.

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.

However, Tribune Company needed to pay down some of the debt that it accrued through the Times Mirror purchase; as a result, Tribune Company moved to sell various non-newspaper holdings operated by Times Mirror.

Tribune Company divested its Tribune Company Education division to The McGraw-Hill Companies for $686 million in September 2000.

Tribune Company started a joint venture with Knight-Ridder, CareerBuilder, that same year.

In 2002 and 2003, Tribune Broadcasting bought four additional television stations, increasing its total television holdings to 26 stations, some of which were acquired via trades of the company's radio stations; this left its one-time radio flagship WGN in Chicago as the company's sole remaining radio station.

Tribune Company Publishing purchased the monthly lifestyle publication Chicago from Primedia, Inc in August 2002.

That same year, Tribune Company pushed for the FCC to loosen its regulations barring cross-ownership of newspapers and broadcast outlets in a single market.

In 2006, Tribune Company acquired the minority equity interest in AM New York, giving it full ownership of the newspaper.

Privatization of the Tribune Company occurred on December 20,2007 with termination of trading in Tribune stock at the close of the trading day.

On January 31,2008, Tribune Company announced it would purchase real estate leased from TMCT, LLC, which included properties used by the Los Angeles Times, Newsday, Baltimore Sun and Hartford Courant.

On July 13,2012, the Tribune Company received approval of a reorganization plan to allow the company to emerge from Chapter 11 bankruptcy protection in a Delaware bankruptcy court.

On July 1,2013, Tribune Company announced that it would purchase the 19 television stations owned by Local TV, LLC outright for $2.

Tribune Company later announced its return to television production on March 19,2013, with the relaunch of the production and distribution division as Tribune Company Studios .

On July 10,2013, Tribune announced that it would split into two companies, spinning off the newspapers that were part of its publishing division into a separate company.

On November 20,2013, Tribune Company announced it would cut 700 jobs in its newspaper operations, citing falling advertising revenue.

Split was finalized on August 4,2014, with the publishing arm being spun out as Tribune Publishing, and the remainder of the company renamed Tribune Media.

In 2016, Tribune Company Media sold off real estate properties to net $409 million while authorizing $400 million in share repurchasing.

In December 2016, Tribune Company Media sold Gracenote to Nielsen Holdings for $560 million; Tribune Company planned to use the sale to pay down a debt of $3.

In January 2017, Tribune Company Media announced that Peter Liguori would step down as President and CEO in March.

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The lawsuit accuses Sinclair and Tribune Company of withholding the details of the two companies' financial projections and the processes used in valuation analyses performed by their financial advisors.