Tribune Media
This article or section is still missing the following important information:
Detailed company history in the English article en:Tribune Media; as mentioned at the end, the newspapers (Tribune Publishing) are NOT owned by Tribune Media anymore, but were spun off and sold, this business now operates as Tronc, Inc.
Help Wikipedia by researching and adding them.
Tribune Media (formerly Tribune Company) is a US media company headquartered in the Tribune Tower in Chicago, Illinois. The company was listed in the S&P 500 stock index. In 2007, the company employed 20,000 people.
The Tribune Company was created with the founding of the Chicago Daily Tribune newspaper.
The Tribune Company's major subsidiaries include several daily newspapers, including the Chicago Tribune, Hartford Courant, The Baltimore Sun and the Major League Baseball team Chicago Cubs. The Tribune Company, together with Time Warner, also owns a stake in the US television network The WB. Many of the Tribune Company's 23 television stations (as of 2007) are affiliated with The WB Network.
On August 21, 2007, the shareholders of the "Tribune Company" voted in favor of a sale to multi-billionaire and real estate entrepreneur Sam Zell. The sale price was set at $13 billion (€9.7 billion). On December 8, 2008, Tribune Company filed for Chapter 11 bankruptcy protection. and exited bankruptcy proceedings four years later.
In 2017, Sinclair Broadcast Group took on Tribune's billion-dollar debt, paying US$43.50 per share after a bidding war against Twenty-First Century Fox and Nexstar. To get the deal approved by the FCC, Sinclair must shed various TV stations to prevent the company from dominating the TV market.
Old logo
Reception
The specialist service IfM wrote about the significance and development of Tribune: "The Tribune Company is one of the most traditional media companies in the USA. Taken over by real estate mogul Sam Zell at the beginning of 2008, the corporation collapsed under its enormous debt burden after just one year and embarked on the state-supervised path out of insolvency. After numerous scandals and instances of mismanagement, as well as the spin-off of its newspaper division, Tribune has stabilized again."
