Tribune Co.

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Tribune Co.
Triblogo.gif
Founded 1847
Headquarters Chicago, IL
Key People Chairman and CEO Sam Zell
Products Flagship title Chicago Tribune; also owns Los Angeles Times plus magazines and television stations
Website http://www.tribune.com

Chicago-based Tribune Co. (formerly Tribune Group) was once one of the largest media groups in the U.S. but began downsizing just to prior to and since the company's 2007 sale. Tribune is also selling some Times-Mirror media properties it bought in 2001.

History

Tribune Co. began in 1847 with the publications of its flaghship's foreunner, the Daily Tribune, and following a merger and purchase by media magnate Joseph Medill it became the Chicago Tribune in 1861. Today the company employs about 20,000 people, reported 2006 operating revenues of $5.5 billion and is ranked No. 388 on the Fortune 500 list. [1]

Tribune Group announced in 2007 that it had been sold to Chicago billionaire Sam Zell for $8.4 billion after first offering itself for sale in 2006. [2] Since then Tribune Co. has put Major League Baseball's Chicago Cubs on the block and sold New York daily newspaper Newsday for a total of $650 million.[3]


Latest Offer

Tribune Co. rejected a recent May 2008 proposal by the publicly operated Illinois Sports Facilities Authority to buy the Cubs' iconic home stadium, Wrigley Field, as a low-ball offer. [4] The company is still seeking buyers for the team, stadium and cable sports channel Comcast SportsNet.


Main Products

Newspapers

  • Chicago Tribune
  • Los Angeles Times
  • Baltimore Sun
  • Orlando Sentinel

T.V. Stations

  • WPIX New York
  • KTLA Los Angeles
  • WGN Chicago
  • KDAF Dallas

Magazines

  • Field & Stream
  • Golf Magazine
  • Popular Science
  • The Sporting News


Key People

CEO and Chairman Sam Zell became a billionaire through investing in and creating real estate investment trusts (REITs) and remains chairman and president of Chicago investment company Equity Group Investments.[5]


References

  1. Tribune Company Fact Sheet. Tribune Co..
  2. Tribune Group Overview. Ketupa.net.
  3. Cablevision and Tribune Form Partnership to Buy Newsday Media Group Stake. M2 PRESSWIRE.
  4. Tribune Co. rejects latest offer for Wrigley. Chicago Tribune.
  5. Samuel Zell. Tribune Co..