46 Facts About Tribune Company


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

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

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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.

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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.

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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.

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

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

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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.

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

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

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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.

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

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

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

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

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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.

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

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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.

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

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

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

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

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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 .

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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.

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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.

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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.

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

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

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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.

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

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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.

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

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

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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.

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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.

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

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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 .

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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.

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

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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.

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

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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.

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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.

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