37 Facts About Tribune Media

1.

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

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2.

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

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3.

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

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4.

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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5.

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

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6.

Tribune Media 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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7.

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

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8.

Tribune Media increased its broadcast holdings with the acquisition of radio station WQCD-FM in New York City in 1964 and independent television station KWGN-TV in Denver in 1965.

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9.

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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10.

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

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11.

Tribune Media acquired Newport News, Virginia newspaper, the Daily Press in 1986, but sold off the newspaper's co-owned cable television operations.

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12.

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

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13.

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

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14.

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

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15.

Also in 1996, Tribune Media 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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16.

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

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17.

Tribune Media 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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18.

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

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19.

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

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20.

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

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21.

In June 1998, Tribune Media 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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22.

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

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23.

The Times Mirror merger added seven daily newspapers to Tribune Media'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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24.

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

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25.

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

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26.

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

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27.

In 2002 and 2003, Tribune Media 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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28.

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

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29.

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

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30.

Tribune Media sold both Newsday and AM New York to Cablevision Systems Corporation in 2008.

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31.

Tribune Media received an option to purchase the real estate for $175 million through the 2006 restructuring of TMCT, LLC.

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32.

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

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33.

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

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34.

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

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35.

On that same date, another Tribune Media shareholder, identified in legal paperwork as Robert Berg, filed a class-action lawsuit.

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36.

The lawsuit accuses Sinclair and Tribune Media 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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37.

In November 2018, sale rumors intensified again, with Byron Allen, Ion Tribune Media having reported interest and Nexstar Tribune Media Group reported as being a leading bidder.

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