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Tribune Company profile and media properties

   


Eddy Hartenstein is the CEO of Tribune Company.

The Tribune Company is a leading US newspaper publisher which also has a strong presence in broadcast television.

The company filed for Chapter 11 bankruptcy protection in December 2008, which followed the 2007 deal by real estate magnate Sam Zell which made Tribune a private company. The Zell deal is regarded as a disaster, and Zell himself has somewhat modestly stated that he made a mistake, saying "if you bought something and it's now worth a great deal less, you made a mistake."

In publishing, Tribune operates 10 leading daily newspapers including the Los Angeles Times, Chicago Tribune and Spanish-language Hoy Chicago. The company’s broadcasting group operates over 20 television stations, Superstation WGN on cable television, and Chicago’s WGN-AM.

The Chicago Tribune was founded in 1847 as the Daily Tribune, and in 1858 it merged with the Democratic Press as the Chicago Daily Press & Tribune. In 1861 the paper became the Chicago Tribune.

Chicago's WGN Radio (720 AM) went on the air in 1924, its call letters reflecting the Chicago Tribune's slogan, "World's Greatest Newspaper."

Tribune acquired the Times Mirror Company, including the Los Angeles Times newspaper, in June of 2000 for $8.3 billion. The company holds a 25% stake in Topix.net, an automated online news aggregation service, which it acquired in March 2005. At the same time, Gannett and Knight-Ridder each acquired 25% of Topix.net.

Until December 2007, Tribune was a public company (NYSE: TRB). On April 2, 2007, Chicago-based real estate investor Sam Zell announced plans to take the company private at a price of $34.00 a share, totalling $8.2 billion. In August 2007 the deal was approved by 97% of the company's shareholders. The company went private on December 20, 2007 and Tribune Company stock stopped trading at the close of the market that day.

Under the Zell plan, Tribune bought out the public shareholders and then become a Subchapter S corporation, which pays no corporate income tax but passes all taxable income through to shareholders. The sole shareholder of the company then became an employee stock ownership plan (ESOP), which also pays no taxes. This leaves a large amount of cash, which otherwise would have been used to pay taxes, to pay down debt. Zell invested $315 million in the deal.

Born in September 1941, Sam Zell is an American billionaire and real estate entrepreneur. He co-founded and is the Chairman of Equity Group Investments, LLc, a private investment firm. His net worth is estimated at about $6 billion. Zell became chairman and CEO of Tribune Company in December 2007 upon the completion of the privatization of the company.

Faced with declining revenues and profits, on March 13, 2008 the Tribune Company sold the Long Island newspaper Newsday and free New York City newspaper am New York to Cablevision Systems Corporation for $650 million.

On December 8, 2008, the Tribune Company filed for Chapter 11 bankruptcy protection. Reasons cited for the filing included the dramatic decline in advertising revenue in 2008, and the burden of servicing $13 billion in debt which was incurred when Sam Zell took the company private in 2007. Tribune Company employees received an ownership stake in the company through the Zell deal, but they are likely to see the value of their holdings wiped out.

The Tribune Company owned the Chicago Cubs baseball team until August 2009, when it sold the franchise to the Ricketts family for $845 Million. Tribune will keep a 5 percent ownership stake in the team. The sale includes Wrigley Field and Tribune's 25 percent interest in Comcast SportsNet Chicago.

Contact Information

Web Site:www.tribune.com
Telephone:312.222.9100
Fax:312.222.1573
Address:435 N. Michigan Ave
Chicago IL 60611
USA

Media Subsidiaries

Other Tribune Company Properties


Brass Ring
CareerBuilder (partial ownership)
Chicago Cubs baseball team
Digital City (partial ownership)
Topix.net (partial ownership)
Tribune Direct
Tribune Media Services
Zap2it.com

Comments about Tribune Company

Comments to date: 29. The most recent comments are below.

Shirley Osman    High Point, NC

Posted at 8:15pm on Tuesday, October 4, 2011

Tribune's Zap2it.com services are questionable at best when compared with other available free options (my opinion). When I signed up for Zap2it.com, I found that there are clips, trailers, etc. not the expected access to ACTUAL programming like on Hulu.com. When I signed up, I very carefully declined everything offered except the two required "layered" apps, which were said could be removed at any point in time. Now that I've discovered the true nature and uselessness (to me) of this service, I can't even find the software listed in the "All Programs" section of my Start Menu. Repeated attempted to contact technical support have brought no results. Have contacted Zap2It.com and Times Media Services, Inc., neither of which at this point has responded.

Do yourself a favor, DON'T download Zap2It.com and cast a critical eye at any affiliated company.


Media Owners editors    Boulder Colorado USA

Posted at 10:26am on Monday, May 9, 2011

-- May 6, 2011 -- Eddy Hartenstein is now chief executive at Tribune Company. He will remain publisher at Los Angeles Times Media Group.


Lorianne    Lostine, United States

Posted at 2:49pm on Monday, March 14, 2011

When I learned the Tribune Company held stock in a cyberbullying gossip site called Topix, I decided to boycott the Tribune. That Topix company is destroying people.


Cristy Minton    Margate, Florida

Posted at 2:11pm on Wednesday, February 23, 2011

I have been trying to get through to a representative IN THE UNITED STATES for two days now to renew my SUN SENTINEL subscription. There is NO number for the Sun Sentinel other than one which is answered IN THE PHILIPPINES. I have nothing against anyone in other countries. I myself am not a native born American. I have lived in this country since 1958, however, and I love this country very much. Our economy is IN THE TOILET. I do not agree with 'outsourcing' jobs which should go to the American people. I understand that Tribune Company is the one which owns Florida's Sun Sentinel. I would like you to give me a number to call (IN THE UNITED STATES) so that I can speak with someone about renewal. No offense to your reps who work out of our country, however, I would like to KEEP OUR JOBS IN OUR COUNTRY so I refuse to speak to a rep who is not WORKING in the U.S.

Thank you.


Media Owners editors    Boulder Colorado USA

Posted at 9:48am on Friday, January 21, 2011

Tribune Announces Outstanding Employee Award Winners for 2010

-- January 20, 2011 -- Tribune Company today announced the winners of its Outstanding Tribune Employee Award for 2010. The program is designed to recognize the achievements and significant contributions of individual employees across the company.

This program recognizes an individual or group of individuals from each of Tribune's business units, the corporate office and other departments for exemplary performance last year. Employees at the level of the manager or below are eligible. The individuals recognized include security personnel at the Los Angeles Times, whose quick action saved the life of an employee, a reporter who excelled at combining technology with watchdog journalism, and the company's entire technology help-desk. Award recipients will receive $2,500 and a certificate of appreciation in recognition of their talent, innovation and dedication during 2010. Winning teams will share the $2,500 award.

"Across the country, we have dedicated employees working hard day in and day out," said Don Liebentritt, Tribune's co-president. "Recognizing and rewarding these individuals for their outstanding performance is important—on behalf of Tribune's executive team, I congratulate the winners and thank them for their significant contributions to the company."


Media Owners editors    Boulder Colorado USA

Posted at 9:05am on Thursday, January 6, 2011

Tribune Media Services and Virgin Media Sign Entertainment Data Agreement

-- January 5, 2011 -- Tribune Media Services (TMS) announced today that TMS entertainment metadata will help power the next-generation entertainment platform from Virgin Media, the United Kingdom's leading entertainment and communications company.

Virgin Media selected TMS as it launches Virgin Media TV to customers across the U.K. Virgin Media TV powered by TiVo features an advanced user interface enabling viewers to combine the live TV schedule with catch-up TV, a huge library of on-demand programming and popular web-based applications alongside a market-leading personal video recorder.

TMS will provide Virgin Media with rich, deep and robust entertainment content including linear TV schedules, program and video-on-demand metadata, celebrity metadata and images. The agreement also includes TMS TV Showcards which offer show synopses, logos, cast ensemble and cast-in-character photos plus award histories. TMS Unique IDs serve as the data taxonomy which ties all the information together allowing easy search and discovery of related content across all programming sources and consumer devices.


Media Owners editors    Boulder Colorado USA

Posted at 9:48am on Friday, December 17, 2010

Tribune Media Services Acquires Internet Video Search and Indexing Company, CastTV

-- December 16, 2010 -- Tribune Media Services (TMS) announced today that it has acquired CastTV, a leader in video search, indexing and data technologies for discovering TV shows, movies and other online video content.

The acquisition will enhance TMS' entertainment metadata, widely used by 4,000 media and technology companies in 40 countries. TMS customers will now have access to all the metadata necessary to create entertainment-discovery guides that direct consumers to programs available on linear, on-demand and online video platforms.

CastTV has developed search technology that aggregates, indexes and presents data on millions of TV shows, movies, music videos, news and sports clips, and viral videos from more than 1,000 web-video sources.

The CastTV technology automatically matches online video to professionally edited, structured databases such as TMS TV, movie and celebrity data, allowing for deep integration with existing TMS products. The CastTV system also allows for “device-aware” content-discovery products that can be limited or expanded to include only access to videos that address a customer's device limitations or the business needs of a video provider.

The acquisition includes all of CastTV's technology, products, intellectual property and staff, including CEO Edwin Ong and president Alex Vikati, who founded the San Francisco-based company together in 2006.


Media Owners editors    Boulder Colorado USA

Posted at 10:45am on Tuesday, November 30, 2010

Judge in Tribune Company Bankruptcy Being Pushed to His Limits

-- The Chicago Tribune reported on November 29, 2010:

"The judge in Tribune Co.'s nearly 2-year-old bankruptcy case struggled openly at a key hearing Monday as he attempted to referee what one participant described as a "four-ring circus" and another called "total chaos."

Faced with a proceeding that has splintered into four competing restructuring plans brought by sparring creditor factions, U.S. Bankruptcy Judge Kevin Carey acknowledged that moving the complex case forward efficiently is taxing the powers of the bench.

"It's an unwanted meeting with my own limitations," he said at one particularly frustrating juncture during a seven-hour hearing in a bankruptcy courtroom filled to capacity with lawyers representing constituents in the Chicago-based media company's Chapter 11 case."

Get the full story.


Media Owners editors    Boulder Colorado USA

Posted at 2:05pm on Wednesday, November 3, 2010

Don Meek to Head Reorganized, Rechristened Tribune Digital

-- The Chicago Tribune reported on November 2, 2010:

"Tribune Co. is renaming its Tribune Interactive division Tribune Digital, in a reorganization that places Don Meek, who had been chief revenue officer for the company's publishing and interactive operations, in charge as executive vice president.

Meek will report to Tony Hunter, head of the Chicago Tribune Media Group, according to a Tuesday memo to employees sent by the four-member Executive Council overseeing Tribune Co. since the Oct. 22 resignation of Randy Michaels as chief executive.

The reorganization is the first major move by the Council, which includes Hunter, Los Angeles Times Media Group chief Eddy Hartenstein, Tribune Co. Chief Investment Officer Nils Larsen and and Don Liebentritt, who is in charge of the company's Chapter 11 restructuring."

The full story:
http://newsblogs.chicagotribune.com/towerticker/2010/11/don-meek-to-head-reorganized-rechristened-tribune-digital.html


Media Owners editors    Boulder Colorado USA

Posted at 1:23pm on Tuesday, November 2, 2010

3 More Top Executives Leaving Tribune Co.

-- The Chicago Tribune reported on November 1, 2010:

"Some of the Clear Channel Communications Inc. contingent is clearing out of Tribune Co.

Tribune Interactive President Marc Chase, Senior Vice President and Chief Operating Officer Jeff Kapugi and Executive Vice President Carolyn Gilbert — longtime associates of Randy Michaels, who resigned as Tribune Co. chief executive last month — are leaving the company, sources said.

Gilbert and Kapugi confirmed their departures from Tribune Co.'s digital division Monday. Chase could not be reached for comment. A Tribune Co. spokesman declined to comment.

Chase, Kapugi and Gilbert are among the first and highest ranking of Michaels' Jacor and Clear Channel Communications colleagues to leave Tribune Co. since a four-member executive council replaced Michaels on Oct. 22. They will not be alone, sources indicated."

The full story:
http://www.chicagotribune.com/business/ct-biz-1102-tribune-20101101,0,5144998.story


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