Tribune Publishing spinoff set for Aug. 4

SHARE Tribune Publishing spinoff set for Aug. 4

Tribune Co. expects to spin off its newspaper operations into a separate, publicly-traded company Aug. 4.

Shares of the new company, Tribune Publishing Co., are expected to trade on the New York Stock Exchange under the symbol “TPUB.” The company will own the Chicago Tribune and seven other daily newspapers. The spinoff date was announced Tuesday by Tribune Co.

Tribune Co. will keep its radio and television operations and rename itself Tribune Media Co.

Tribune Co.’s name change was approved at a shareholders meeting Monday in Los Angeles. Shareholders also elected Laura R. Walker to a three-year term on the board of directors. The president and CEO of New York Public Radio replaces Eddy Hartenstein, who will be non-executive chairman of Tribune Publishing after the spinoff.

When Tribune Publishing is formed, it will start with $350 million in debt, with a bulk of it being paid as a $275 million dividend to Tribune Media Co.

Tribune Publishing will take on a $140 million of revolving credit and a total of $50 million in letters of credit when the split happens. Tribune Publishing also will pay more than $30 million a year in office rent to Tribune Media Co.

Tribune Co. announced plans a year ago to spin off its newspapers.

Tribune Co. picks new name ahead of spinoff

Tribune Co. postpones newspaper spinoff until 3rd quarter

Tribune Co.’s profit falls in first quarter

The Latest
“To get in there in a one-run game and deliver, there is no better feeling than helping the team win, that is for sure,” Lambert said.
Assistant U.S. Attorney Jason Julien laid out for jurors the alleged efforts by Kelly, his now-former manager and another ex-employee to thwart Kelly’s 2008 child pornography state-court trial in Cook County,
Two years into the incumbent’s first term, Democrats clearly haven’t figured out the 2024 plan or the messaging, and that’s leaving the party sounding less like Biden is the done deal.
Anthony Dinion, 40, was arguing with someone Sunday night outside the 69th Street stop when the other person took out a gun and opened fire, authorities say.
Adding the 35-year-old journeyman makes it even clearer the Hawks don’t plan to promote many prospects to the NHL this season.