Tribune completes spinoff, changes name

SHARE Tribune completes spinoff, changes name

The Tribune Co. on Monday completed the spinoff of its newspaper business and changed its name to Tribune Media Co.

The move had been expected. Tribune first announced plans to separate its television and print businesses a year ago. The company has said the move will let one company take advantage of growth in broadcasting and allow the other to focus on newspapers, an industry where revenue has been declining for years.

News Corp. and Time Warner Inc. have recently split into separate publishing and entertainment companies.


Tribune Publishing looks to buy more newspapers

Tribune Publishing could be worth $635 million: analyst

A news giant going it alone (The New York Times)


Tribune Media Co. will operate 42 local TV stations and the WGN America cable channel, and start trading under the ticker TRBAA.

It’s newspaper arm will be called Tribune Publishing Co. and include newspapers such as the Los Angeles Times and Chicago Tribune. Its shares are set to start regular trading on the New York Stock Exchange under the symbol “TPUB” on Tuesday.

The Tribune Co. was founded in 1847 when the Chicago Tribune was first published, and grew rapidly in the 1980s and 1990s into a media conglomerate with TV stations and newspapers across the country. But the company’s newspapers have been hurt by an industrywide shift that has driven more advertisers to the Internet. The decline in print advertising, heavy debt and the economic downturn led Tribune to file for Chapter 11 bankruptcy protection in 2008. It emerged from bankruptcy at the end of 2012.

THE ASSOCIATED PRESS

The Latest
The two were driving in an alley just before 5 p.m. when several people started shooting from two cars, police said.
No Jimmy Butler, no problem for “Heat Culture,” as Miami jumped on the Bulls midway through the first quarter and never let go the rest of the night. With this Bulls roster falling short yet again, some serious soul searching to do, starting with free agent DeMar DeRozan.
The statewide voter turnout of 19.07% is the lowest for a presidential primary election since at least 1960, according to Illinois State Board of Elections figures.
“There’s all kinds of dangers that can happen,” said Itai Segre, a teacher who lives in Roscoe Village with family in Jerusalem.
Sandra Kolalou, 37, denied killing and then cutting up Frances Walker in 2022 at the Northwest Side home they shared.