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Tribune Media
Tribune Media Company, formerly known as Tribune Company, was an American multimedia conglomerate headquartered in Chicago, Illinois.
Through Tribune Broadcasting, Tribune Media was one of the largest television broadcasting companies, owning 39 television stations across the United States and operating three additional stations through local marketing agreements. It owned national basic cable channel/superstation WGN America, regional cable news channel Chicagoland Television (CLTV) and Chicago radio station WGN. Investment interests include the Food Network, in which the company had a 31% share.
Prior to the August 2014 spin-off of the company's publishing division into Tribune Publishing, Tribune Media was the nation's second-largest newspaper publisher behind the Gannett Company, with ten daily newspapers, including the Chicago Tribune, Los Angeles Times, Orlando Sentinel, Sun-Sentinel and The Baltimore Sun, and several commuter tabloids.
In 2007, investors bought the company, taking on substantial debt. The subsequent 2008 bankruptcy of Tribune Company was the largest bankruptcy in the history of the American media industry. In December 2012 the Tribune Co. emerged from bankruptcy. Tribune announced its sale to Hunt Valley, Maryland-based Sinclair Broadcast Group on May 8, 2017, but on August 9, 2018, Tribune cancelled the sale and sued Sinclair for breach of contract. On December 3, 2018, Nexstar Media Group announced that it would merge with Tribune Media for $4.1 billion. Within Nexstar, Tribune Media remains the license holder for all of the former Tribune stations retained directly by Nexstar after the Nexstar acquisition. The largest broadcast merger in U.S. history was approved in 2019.
The Tribune Company was founded on June 10, 1847 when the eponymous Chicago Daily Tribune published its first edition in a one-room plant located at LaSalle and Lake Streets in downtown Chicago. The original press run consisted of 400 copies printed on a hand press. The Tribune constructed its first building, a four-story structure at Dearborn and Madison Streets, in 1869.[citation needed] The building was destroyed in the Great Chicago Fire of October 1871, along with most of the city. The Tribune resumed printing two days later with an editorial declaring "Chicago Shall Rise Again." Joseph Medill, a native Ohioan who acquired an interest in the Tribune in 1855, gained full control of the newspaper in 1874 and ran it until his death in 1899.
Medill's two grandsons, cousins Robert R. McCormick and Joseph Medill Patterson, assumed leadership in 1911. That same year, the Chicago Tribune's first newsprint mill opened in Thorold, Ontario, Canada. The mill marked the beginnings of the Canadian newsprint producer later known as QUNO, in which Tribune held an investment interest until 1995.
Patterson established the company's second newspaper, the New York News in 1919. Tribune's ownership of the New York City tabloid was considered "interlocking" due to an agreement between McCormick and Patterson.
The paper launched a European edition during World War I. To compete with the Saturday Evening Post and Collier's in 1924, the Tribune Company launched a weekly national magazine, Liberty, run by a subsidiary, McCormick-Patterson.
Tribune Media
Tribune Media Company, formerly known as Tribune Company, was an American multimedia conglomerate headquartered in Chicago, Illinois.
Through Tribune Broadcasting, Tribune Media was one of the largest television broadcasting companies, owning 39 television stations across the United States and operating three additional stations through local marketing agreements. It owned national basic cable channel/superstation WGN America, regional cable news channel Chicagoland Television (CLTV) and Chicago radio station WGN. Investment interests include the Food Network, in which the company had a 31% share.
Prior to the August 2014 spin-off of the company's publishing division into Tribune Publishing, Tribune Media was the nation's second-largest newspaper publisher behind the Gannett Company, with ten daily newspapers, including the Chicago Tribune, Los Angeles Times, Orlando Sentinel, Sun-Sentinel and The Baltimore Sun, and several commuter tabloids.
In 2007, investors bought the company, taking on substantial debt. The subsequent 2008 bankruptcy of Tribune Company was the largest bankruptcy in the history of the American media industry. In December 2012 the Tribune Co. emerged from bankruptcy. Tribune announced its sale to Hunt Valley, Maryland-based Sinclair Broadcast Group on May 8, 2017, but on August 9, 2018, Tribune cancelled the sale and sued Sinclair for breach of contract. On December 3, 2018, Nexstar Media Group announced that it would merge with Tribune Media for $4.1 billion. Within Nexstar, Tribune Media remains the license holder for all of the former Tribune stations retained directly by Nexstar after the Nexstar acquisition. The largest broadcast merger in U.S. history was approved in 2019.
The Tribune Company was founded on June 10, 1847 when the eponymous Chicago Daily Tribune published its first edition in a one-room plant located at LaSalle and Lake Streets in downtown Chicago. The original press run consisted of 400 copies printed on a hand press. The Tribune constructed its first building, a four-story structure at Dearborn and Madison Streets, in 1869.[citation needed] The building was destroyed in the Great Chicago Fire of October 1871, along with most of the city. The Tribune resumed printing two days later with an editorial declaring "Chicago Shall Rise Again." Joseph Medill, a native Ohioan who acquired an interest in the Tribune in 1855, gained full control of the newspaper in 1874 and ran it until his death in 1899.
Medill's two grandsons, cousins Robert R. McCormick and Joseph Medill Patterson, assumed leadership in 1911. That same year, the Chicago Tribune's first newsprint mill opened in Thorold, Ontario, Canada. The mill marked the beginnings of the Canadian newsprint producer later known as QUNO, in which Tribune held an investment interest until 1995.
Patterson established the company's second newspaper, the New York News in 1919. Tribune's ownership of the New York City tabloid was considered "interlocking" due to an agreement between McCormick and Patterson.
The paper launched a European edition during World War I. To compete with the Saturday Evening Post and Collier's in 1924, the Tribune Company launched a weekly national magazine, Liberty, run by a subsidiary, McCormick-Patterson.