Breaking News Bar
updated: 8/4/2014 2:38 PM

Tribune completes spinoff, changes name

hello
Success - Article sent! close
  • The Tribune Co. on Monday completed the spinoff of its newspaper business and changed its name to Tribune Media Co. The Tribune Tower in Chicago is seen in this photo.

      The Tribune Co. on Monday completed the spinoff of its newspaper business and changed its name to Tribune Media Co. The Tribune Tower in Chicago is seen in this photo.
    ASSOCIATED PRESS

 
Associated Press

NEW YORK -- 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.

Order Reprint Print Article
 
Interested in reusing this article?
Custom reprints are a powerful and strategic way to share your article with customers, employees and prospects.
The YGS Group provides digital and printed reprint services for Daily Herald. Complete the form to the right and a reprint consultant will contact you to discuss how you can reuse this article.
Need more information about reprints? Visit our Reprints Section for more details.

Contact information ( * required )

Success - request sent close

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

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.

Share this page
Comments ()
Guidelines: Keep it civil and on topic; no profanity, vulgarity, slurs or personal attacks. People who harass others or joke about tragedies will be blocked. If a comment violates these standards or our terms of service, click the X in the upper right corner of the comment box. To find our more, read our FAQ.
    help here