23 Facts About Tribune Publishing

Tribune Publishing Company is an American newspaper print and online media publishing company.

The Tribune Publishing constructed its first building, a four-story structure at Dearborn and Madison Streets, in 1869; however the building was destroyed, along with most of the city, by the Great Chicago Fire in October 1871.

The Tribune Publishing resumed printing two days later with an editorial declaring "Chicago Shall Rise Again".

Tribune Publishing later acquired the Newport News, Virginia-based Daily Press in 1986.

In June 2000, Tribune Publishing acquired the Los Angeles-based Times Mirror Company in a merger deal worth $8.

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The merger added seven daily newspapers to Tribune Publishing's portfolio, 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.

Later in the decade, Tribune Publishing launched daily newspapers targeting urban commuters, including the Chicago Tribune Publishing RedEye edition in 2002, followed by an investment in AM New York one year later.

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

Tribune Publishing sold both Newsday and AM New York to Cablevision Systems Corporation in 2008, with the sale of the latter paper closing on July 29 of that year.

Privatization of the Tribune Publishing Company occurred on December 20,2007, with Tribune Publishing's stock listing being terminated at the close of the trading day.

On December 8,2008, faced with a high debt load totaling $13 billion, related to the company's leveraged buyout and subsequent privatization, and a sharp downturn in newspaper advertising revenue, Tribune Publishing filed for Chapter 11 bankruptcy protection in what was the largest bankruptcy in the history of the American media industry.

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

On November 20,2013, Tribune Publishing announced it would cut 700 jobs from its newspaper properties due to declining advertising revenues.

Tribune Publishing acquired six suburban daily and 32 weekly newspapers in the Chicago Metropolitan Area in October 2014.

On May 7,2015, Tribune Publishing announced that it had reached a deal to acquire the San Diego Union-Tribune and its associated properties for $85 million, ending the paper's 146 years of private ownership.

In January 2019, Tribune announced that industry veteran Timothy P Knight would succeed Justin Dearborn as CEO.

In 2020, during the COVID-19 pandemic, Tribune Publishing closed a number of its papers' newsrooms, including those of: the New York Daily News, The Morning Call, the Orlando Sentinel, the Carroll County Times, the Capital Gazette and the Hartford Courant.

Tribune Publishing was acquired by hedge fund Alden Global Capital for $635 million, giving its final approval on May 21,2021, with the transaction officially closing on May 25,2021.

Tribune Publishing announced in February 2021 that it had agreed to be wholly acquired by Alden Global Capital, and the final approval came in May.

In early April 2021, Tribune Publishing announced that it has entered into serious discussions with an alternative pair of suitors for an amount higher than its deal with Alden.

Tribune Publishing had agreed to purchase the Sun for $65 million, along with payments on a transitional-services agreement.

Shortly thereafter, Tribune Publishing said that it was ending its conversations with Stewart W Bainum Jr.