Tribune Media
television production, real estate, Publishing | |
Revenue | US$1.94 billion (2016) |
---|---|
US$433.6 million (2016) | |
US$380.9 million (2016) | |
Total assets | US$9.7 million (2016) |
Total equity | US$27 million (2016) |
Number of employees | 8,200 (2016) |
Subsidiaries | Tribune Broadcasting Tribune Publishing |
Website | www |
Footnotes / references [1] |
Tribune Media Company, also 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
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.[2] In December 2012 the Tribune Co. emerged from bankruptcy.[3] 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.[4] The largest broadcast merger in U.S. history was approved in 2019.[5]
History
Print pioneer
The Tribune Company was founded on June 10, 1847 when the eponymous Chicago Daily Tribune published its first edition[6] 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.[6]
Medill's two grandsons, cousins Robert R. McCormick and Joseph Medill Patterson, assumed leadership in 1911.[6] That same year, the Chicago Tribune's first newsprint mill opened[6] 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.[6] Tribune's ownership of the New York City tabloid[6] was considered "interlocking" due to an agreement between McCormick and Patterson.
The paper launched a European edition during
Move into broadcasting
The company entered broadcasting in 1924 by leasing WDAP, one of Chicago's first radio stations. Tribune later changed the station's
In 1925, the company completed its new headquarters, the Tribune Tower. That same year, the company decided to fund the future Joseph Medill School of Journalism at Northwestern University.[6]
Liberty magazine eventually exceeded Collier's circulation, but lacked sufficient advertising and was sold in 1931. The Tribune's European edition was also cut. However, Tribune launched the
With the death of Joe Patterson's sister and owner of the Washington Times-Herald, Eleanor (Cissy) Patterson, in 1948, the Tribune Company purchased the paper and operated it until 1954, when the Times-Herald was absorbed by The Washington Post. Expecting a printer's strike in November 1948, the Tribune printed their paper early, mistakenly proclaiming "Dewey Defeats Truman" in the 1948 presidential election. Tribune entered the television industry then in its infancy, in 1948, with the establishment of WGN-TV in Chicago in April and WPIX in New York City in June of that year. In 1956, the Tribune Company purchased the Chicago American from William Randolph Hearst.[6]
In the 1960s, the company entered the booming Florida market, acquiring the
The corporation was reorganized in 1968 by reincorporating under Delaware's General Corporation Law, ending its Illinois incorporation, splitting its stock by four for one and forming a separate subsidiary of the Chicago Tribune.[6]
The 1970s brought another decade of acquisitions for the company including the purchase of a Los Angeles shopper in 1973, which became the
The company stopped publishing the tabloid Chicago Today in 1974; the Tribune also began publishing all-day editions. An approval of changes to the Tribune bylaws in 1974 triggered a lawsuit by shareholders who saw this as a move towards taking the company public. The lawsuit by Josephine Albright – Joseph Patterson's daughter – and her son, Joseph Albright, was dismissed in 1979.[6]
The Tribune Company entered first-run
In 1980, the Daily News added an afternoon edition to go head-to-head with the
In 1981, all of Tribune's television stations, which were previously under the WGN Continental Broadcasting unit, were placed under the company's subsidiary Tribune Broadcasting Company. The following year, Tribune formed the Tribune Entertainment Company as a production subsidiary to produce the company's existing syndicated programs including the U.S. Farm Report, as well as newer shows.[6]
Public corporation
In 1983, The Suburban Trib was replaced by zone editions of the Chicago Tribune. That October, the Tribune Company became a public firm, with the sale of 7.7 million shares at $26.75 a share. In 1985, Tribune Broadcasting acquired Los Angeles independent station
To counteract a possible hostile corporate takeover in 1987, the Tribune Company developed a plan that allowed shareholders the right to purchase additional preferred shares from a new series of stock in the event that a buyer acquired 10% of the company's common stock or a tender offer for the company. Shareholders also ratified a two-for-one stock split. Tribune Entertainment experienced success in 1987 with the launch of the syndicated daytime
With changes in the media industry due to greater public access to the internet in the 1990s, Tribune Publishing began to sell off some of its newspaper properties. Tribune Broadcasting steadily acquired additional stations during the decade, while Tribune itself launched two new divisions, Tribune Ventures and Tribune Education. In 1993, Tribune Broadcasting launched Chicagoland Television (CLTV), a 24-hour local cable news channel for the Chicago area.
Online editions of Tribune's newspapers were developed starting in 1995, with the Chicago Tribune's digital edition launching in 1996. Also in 1996, Tribune (holding a 20% interest) created a joint venture with
The company began the 1990s with six television stations, but changes to federal radio and television ownership regulations allowed Tribune to expand its television station holdings over the next decade. Tribune Broadcasting purchased ten additional stations by 1997, six of them acquired through that year's purchase of Renaissance Broadcasting for $1.1 billion in cash.[8] Tribune purchased a 12.5% stake in The WB Television Network in August 1995; the company had ten of its 16 stations affiliated with the network (including five that were signed as charter affiliates through The WB's initial 1993 affiliation deal with Tribune). Tribune invested $21 million in The WB in March 1997, which increased its equity interest in the network to 21.9%.[6]
In November 1994, Tribune Broadcasting formed a partnership with several minority partners, including
Tribune entered into a new business sector when it formed Tribune Education in 1993. The sector grew and provided high profit margins. Through 1996, Tribune used $400 million to purchase several publishers of education material:
In June 1998, Tribune entered into a trade with
In June 2000, Tribune acquired the Los Angeles–based Times Mirror Company in a US$8.3 billion merger transaction, the largest acquisition in the history of the newspaper industry, effectively doubling the size of Tribune's newspaper holdings.[10] The Times Mirror merger added seven daily newspapers to Tribune's existing publishing properties, including the Los Angeles Times, the Long Island-based Newsday, The Baltimore Sun and the Hartford Courant.[6] Through the deal, Tribune became the only media company that owned both newspapers and television stations in the three largest media markets of New York City, Los Angeles and Chicago,[6] as a result of cross-ownership waivers that were approved by the FCC.
Among other advantages from the merger, including various economies of scale, Tribune's newspapers could now effectively compete for national advertising, as it has grown to become the third largest newspaper group in the country. Tribune Media Net, the national advertising sales organization of
After the 2001 September 11 attacks, the media sector suffered a greater decrease in advertising revenue. This forced a 10% reduction in staff companywide and a $151.9 million restructuring charge.[6]
In 2002 and 2003, Tribune Broadcasting bought four additional television stations, increasing its total television holdings to 26 stations, some of which were acquired via trades of the company's radio stations; this left its one-time radio flagship WGN (AM) in Chicago as the company's sole remaining radio station. Tribune Publishing purchased the monthly lifestyle publication
Tribune also launched daily newspapers targeting younger urban commuters, including the Chicago Tribune's
In 2006, Tribune acquired the minority equity interest in AM New York, giving it full ownership of the newspaper. The company sold both Newsday and AM New York to Cablevision Systems Corporation in 2008.
Tribune's partnership in The WB ended in 2006, when the network was shut down – along with CBS Corporation-owned UPN – to create The CW Television Network, which was a joint venture between CBS and Warner Bros. and affiliated with several Tribune-owned stations;[11] Tribune did not maintain an ownership interest in the network.
Zell ownership
On April 2, 2007, Chicago-based investor Sam Zell announced plans to buy out the Tribune Company for $34.00 a share, totalling $8.2 billion,[2] with the intent to take the company private. The deal was approved by 97% of the company's shareholders on August 21, 2007.[12] Privatization of the Tribune Company occurred on December 20, 2007 with termination of trading in Tribune stock at the close of the trading day.[13]
On December 21, 2007, Tribune and Oak Hill Capital Partners-controlled Local TV, LLC announced plans to collaborate in the formation of a "broadcast management company" (later named The Other Company).[14] On January 31, 2008, Tribune Company announced it would purchase real estate leased from TMCT, LLC, which included properties used by the Los Angeles Times, Newsday, Baltimore Sun and Hartford Courant. The company received an option to purchase the real estate for $175 million through the 2006 restructuring of TMCT, LLC.
In addition, Tribune announced the sale of Tribune Studios and related real estate in Los Angeles to private equity firm Hudson Capital, LLC, for $125 million. The parties also agreed to a five-year lease allowing its television station in the city, KTLA, to continue operating at the location through 2012.[15]
On April 28, 2008, Tribune completed an acquisition of real estate from TMCT Partnership.[16] On July 29, 2008, Cablevision Systems Corporation completed its purchase of Newsday from Tribune.[17]
On September 8, 2008,
Bankruptcy reorganization
On December 8, 2008, faced with a high debt load related to the company's privatization and a sharp downturn in newspaper advertising revenue, Tribune filed for Chapter 11 bankruptcy protection.[19] Company plans originally called for it to emerge from bankruptcy by May 31, 2010,[20] but the company would end up in protracted bankruptcy proceedings for another four years. With the company's overall debt totaling $13 billion, it was the largest bankruptcy in the history of the American media industry.[2]
On October 27, 2009,
Public corporation second time
On July 13, 2012, the Tribune Company received approval of a reorganization plan to allow the company to emerge from Chapter 11 bankruptcy protection in a
On February 26, 2013, it was reported that Tribune hired investment firms
Tribune later announced its return to television production on March 19, 2013, with the relaunch of the production and distribution division as Tribune Studios (not to be confused with the former name of Los Angeles studio facility Sunset Bronson Studios).[31]
Split and subsequent transactions
On July 10, 2013, Tribune announced that it would split into two companies,
The split was finalized on August 4, 2014, with the publishing arm being spun out as Tribune Publishing, and the remainder of the company renamed Tribune Media.[33][35][36]
Aborted acquisition by Sinclair Broadcast Group
On February 29, 2016, Tribune Media announced that it would review various "strategic alternatives" to increase the company's value to shareholders, which include a possible sale of the entire company and/or select assets, or the formation of programming alliances or strategic partnerships with other companies, due to the decrease in its stock price since the Tribune Publishing spin-off and a $385 million revenue write-down for the 2015 fiscal year, partly due to original scripted programming expenditures for WGN America since it converted the cable network from a superstation in 2014.[37][38][39][40] In 2016, Tribune Media sold off real estate properties to net $409 million while authorizing $400 million in share repurchasing. In December 2016, Tribune Media sold Gracenote to Nielsen Holdings for $560 million;[41] Tribune planned to use the sale to pay down a debt of $3.5 billion. Cash on hand was expected to pay out $500 million in dividends in the first quarter of 2017.[41] In January 2017, Tribune Media announced that Peter Liguori would step down as President and CEO in March.[42]
On April 20, 2017, Bloomberg reported that
On April 30, 2017,
On May 8, 2017, Sinclair Broadcast Group officially announced its intent to acquire Tribune Media in a cash-and-stock deal valuing the company at $3.9 billion, plus the assumption of $2.7 billion in debt held by Tribune.[53]
The proposed sale resulted in concerns from various groups over the effects of the UHF discount on U.S. media; the Institute for Public Representation coalition filed a request for an emergency motion to stay the reinstatement of the UHF discount order pending a court challenge, echoing Wheeler's opinion that it was outdated and intended to trigger media consolidation.[54][55][56] On June 1, 2017, a federal appeals court issued a temporary administrative stay whilst evaluating the request,[57] and rejected it on June 15.[58][59]
On July 13, 2017, a Tribune Media shareholder, identified as Sean McEntire, filed a class-action lawsuit, seeking to halt Tribune's sale to Sinclair,[60][61] while former U.S. Securities and Exchange Commission (SEC) attorney Willie Briscoe has begun investigating Tribune's sale to Sinclair.[62] On that same date, another Tribune Media shareholder, identified in legal paperwork as Robert Berg, also filed a class-action lawsuit. The lawsuit accuses Sinclair and Tribune of withholding the details of the two companies' financial projections and the processes used in valuation analyses performed by their financial advisors. Additionally, the registration statement allegedly omits information about potential conflicts of interest concerning Tribune's board of directors and one of its financial advisors. Berg further claims that stockholders are entitled to "an accurate description" of the background of the deal, including processes used by the board to arrive at their decision to recommend the merger. Without this information, Berg argues, stockholders cannot determine whether they support the deal.[63] On July 18, 2017, a third Tribune Media shareholder, identified in legal paperwork as David Pill, also filed a class-action lawsuit which seeks to halt Sinclair's acquisition of Tribune.[64] On July 27, 2017, the law firm of Faruqi & Faruqi, LLP, filed a class-action lawsuit on behalf of Tribune Media shareholders who have been harmed by Tribune's and its board of directors' alleged violations of Sections 14(a) and 20(a) of the Securities Exchange Act of 1934 in connection with the proposed merger of the Company with Sinclair Broadcast Group, Inc.[65]
On October 19, 2017, the sale was approved by Tribune Media shareholders.[66][67][68][69][70]
On July 16, 2018, FCC chairman Ajit Pai was reported to have "serious concerns" about the merger and proposed a hearing before an administrative law judge.[71][72][73][74]
On August 9, 2018, Tribune decided to back out on the merger, and decided to sue Sinclair, alleging breach of contract.[75]
Acquisition by Nexstar Media Group
In November 2018, sale rumors intensified again, with
On December 3, 2018, Nexstar Media Group announced its intent to merge with Tribune Media for $6.4 billion and it will still be known as "Nexstar Media Group". The sale would give the company 216 stations in 118 markets, placing it just below the FCC's market cap of 39% of TV households. The sale price reflects a 45% increase in valuation over Sinclair's offer. Nexstar plans to divest some stations and "non-core" assets as part of the acquisition.[81][82][83]
On January 21, 2019, it was reported that Nexstar Media Group has agreed to merge with Tribune Media for about $4.1 billion in cash, making it the largest regional U.S. TV station operator and will take the Nexstar name.[84]
On August 1 of that year, the United States Department of Justice approved the deal.[85][5]
The sale was approved by the FCC on September 16,[86][87] and completed on September 19.[88][89][90]
Assets
- Tribune Broadcasting, broadcast media holdings
- Antenna TV
- This TV
- Tribune Studios
- WGN America
- Chicagoland Television, regional cable news channel[6]
- Tribune (FN) Cable Ventures Inc.[6]
- Television Food Network, G.P. (31%, with Discovery, Inc.)
- Tribune Publishing, print media holdings
- Zap2it
- TV by the Numbers
- The McClatchy Company and Gannett Company
- Metromix, an entertainment website with Gannett Company
- Topix
- Tribune News Service, a publication put out by Tribune Content Agency
- The WB, a former television network in joint venture with Warner Bros.
References
- ^ 2018 Proxy Statement
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- ^ Brennan, Morgan (September 18, 2013). "The Investment Zen Of Sam Zell: Inside The Grave Dancer's $4 Billion Business Empire". Forbes. Retrieved September 18, 2013.
- ^ Littleton, Cynthia (December 2, 2018). "Tribune Media to Be Acquired by Nexstar Media Group". Variety. Retrieved December 15, 2018.
- ^ a b Channick, Robert (August 1, 2019). "Tribune Media - Nexstar merger one step closer after DOJ approval". Chicago Tribune. Retrieved August 2, 2019.
- ^ a b c d e f g h i j k l m n o p q r s t u v w x y z aa ab ac ad ae af ag ah ai "Tribune Company". Answers.com (International Directory of Company Histories). The Gale Group, Inc. 2006. Retrieved August 22, 2013.
- ISSN 0362-4331. Retrieved January 26, 2019.
- ^ Tribune Co. Looks to Boost Role in TV with Offer for Six Stations, Los Angeles Daily News, July 2, 1996.
- ^ Tribune, minority group on TV station Qwest; new company's first buys are WATL-TV Atlanta and WNOL-TV New Orleans, Broadcasting & Cable, November 21, 1994.
- Time Warner. September 18, 2006. Retrieved July 20, 2012.
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- ^ "Tribune and Local TV to Form Broadcast Management Company" (Press release). Tribune Company. December 20, 2007. Retrieved December 21, 2007.
Tribune Company and Local TV have entered into a letter of intent to create a third-party broadcast management company which will provide shared services to all of the stations Local TV and Tribune Company own, respectively.
- ^ "Tribune to Acquire Real Estate from TMCT Partnership" (Press release). Tribune Company. January 31, 2008. Retrieved December 21, 2007.
Tribune Company today announced it will purchase real estate leased from TMCT, LLC, which includes properties used by the Los Angeles Times, Newsday, Baltimore Sun and Hartford Courant. The company received an option to purchase the real estate for $175 million through the 2006 restructuring of TMCT, LLC.
- ^ "Tribune Completes Acquisition of Real Estate from TMCT Partnership" (Press release). Tribune Company. April 28, 2008. Retrieved December 21, 2007.
Tribune Completes Acquisition of Real Estate from TMCT Partnership.
- ^ "Cablevision Completes Newsday Buy from Tribune". Broadcasting & Cable (Press release). April 28, 2008. Retrieved December 21, 2007.
Tribune Completes Acquisition of Real Estate from TMCT Partnership.
- ISSN 0362-4331. Retrieved January 27, 2019.
- ^ Tribune files for bankruptcy Chicago Breaking News. Retrieved December 8, 2008.
- ^ Johnsson, Julie; Oneal, Michael (November 14, 2009). "Tribune asks court for extension : The Times' owner wants four additional months to plan its exit from bankruptcy without interference". Los Angeles Times. Retrieved February 23, 2014.
- ^ "Cubs sale to Ricketts is complete". Chicagobreakingsports.com. October 27, 2009. Retrieved January 8, 2012.
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- ^ Chase, Randall (July 13, 2012). "Bankruptcy-Exit Plan Gets OK". TVNewsCheck. NewsCheck Media. Retrieved May 21, 2017.
- ^ Channick, Robert (December 30, 2012). "Tribune Co. to emerge from bankruptcy Monday". Chicago Tribune. Tribune Publishing. Retrieved December 31, 2012.
- ^ a b Lazare, Lewis (December 2, 2014). "Tribune Media to trade its common stock on New York Stock Exchange". Chicago Business Journal. American City Business Journals.
- ^ Meehan, Sarah (February 26, 2013). "Baltimore Sun owner Tribune to begin selling newspaper assets, report says". Baltimore Business Journal. Retrieved February 26, 2013.
- ^ "Acquisition to make Tribune Co. largest U.S. TV station operator". Chicago Tribune. Archived from the original on July 4, 2013. Retrieved July 1, 2013.
- ^ FCC OKs Tribune Co.'s agreement to buy Local TV Holdings, Crain's Chicago Business, December 20, 2013.
- ^ Company Completes Final Steps of Transaction Announced in July Archived December 28, 2013, at the Wayback Machine, Tribune Company, December 27, 2013
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- ^ Lieberman, David (March 4, 2016). "Tribune Media's Cash Search Shouldn't Affect CW Negotiations, Analysts Say". Deadline Hollywood. Penske Media Corporation. Retrieved March 5, 2016.
- ^ a b Lieberman, David (December 20, 2016). "Tribune Media Agrees To Sell Gracenote Data Services To Nielsen For $560M". Deadline Hollywood. Penske Media Corporation. Retrieved December 20, 2016.
- ^ Channick, Robert (January 26, 2017). "Tribune Media CEO Liguori stepping down". Chicago Tribune. Tronc. Retrieved January 26, 2017.
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- ^ Jessell, Harry (April 21, 2017). "Sinclair Buying Bonten Stations For $240M". TVNewsCheck. NewsCheck Media. Retrieved April 21, 2017.
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- ^ Baker, Liana; Toonkel, Jessica (May 7, 2017). "Exclusive: Sinclair Broadcast nears deals for Tribune Media". Reuters. Retrieved May 7, 2017.
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- ^ Littleton, Cynthia (May 8, 2017). "Sinclair Broadcast Group Sets $3.9 Billion Deal to Acquire Tribune Media". Variety. Penske Media Corporation. Retrieved May 8, 2017.
- ^ Ted Johnson (June 1, 2017). "Sinclair-Tribune Merger Faces Roadblock as Court Puts Hold on FCC Station Ownership Rule". Variety. Penske Media Corporation. Retrieved June 6, 2017.
- ^ John Eggerton (May 28, 2017). "Free Press Seeks Emergency Stay of UHF Discount Return". Broadcasting & Cable. NewBay Media. Retrieved June 6, 2017.
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- ^ Littleton, Cynthia (June 15, 2017). "Appeals Court Removes FCC Roadblock to Sinclair-Tribune Merger". Variety. Penske Media Corporation. Retrieved June 15, 2017.
- ^ Eggerton, John (June 15, 2017). "Court Won't Block FCC's UHF Discount Return". Broadcasting & Cable. NewBay Media. Retrieved June 15, 2017.
- ^ Zumbach, Lauren. "Shareholder files lawsuit to block Tribune Media's sale to Sinclair". Chicago Tribune. Tronc. Retrieved July 13, 2017.
- ^ Seidel, John. "Shareholder lawsuit aims to halt Tribune Media purchase by Sinclair". Chicago Sun-Times. Sun-Times Media Group. Archived from the original on July 13, 2017. Retrieved July 13, 2017.
- ^ "TRIBUNE MEDIA COMPANY SHAREHOLDER ALERT: Former SEC Attorney Willie Briscoe Investigates Sale to Sinclair Broadcast Group, Inc". www.businesswire.com. Retrieved May 10, 2017.
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- ^ Feder, Robert (October 20, 2017). "Robservations: Tribune Media deal with Sinclair in FCC's hands". RobertFeder.com. Retrieved October 20, 2017.
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- ^ Kelly, Keith J. (November 9, 2018). "Byron Allen seriously interested in buying Tribune Media". New York Post. Retrieved January 29, 2019.
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- ^ "Bidding War for Tribune Media Taking Shape". TV Week. November 14, 2018. Retrieved November 15, 2018.
- ^ Kosman, Josh; Kelly, Keith (November 30, 2018). "Nexstar is leading bidder for TV-station giant Tribune Media". New York Post. Retrieved November 30, 2018.
- ^ Lafayette, John (December 3, 2018). "Nexstar Announces Deal To Buy Tribune for $6.4B". Broadcasting & Cable. Retrieved December 3, 2018.
- ^ "Nexstar to buy Tribune Media, becoming the largest US TV station operator". CNBC. December 3, 2018. Retrieved December 3, 2018.
- ^ White, Peter; Hayes, Dade (December 3, 2018). "Nexstar Confirms $4.1B Tribune Media Acquisition To Become Leading Local TV Station Owner". Deadline Hollywood. Retrieved December 3, 2018.
- ^ "Nexstar to buy Tribune Media, becoming the largest U.S. TV station operator". Parker City News. January 21, 2019. Archived from the original on January 22, 2019. Retrieved January 22, 2019.
- ^ Feder, Robert (August 1, 2019). "Justice Department approves Nexstar deal for Tribune Media". RobertFeder.com. Retrieved August 2, 2019.
- ^ Channick, Robert (September 16, 2019). "Tribune Media sale to Nexstar approved by FCC; WGN-Ch. 9 no longer Chicago's very own". Chicago Tribune. Retrieved September 17, 2019.
- ^ Feder, Robert (September 16, 2019). "FCC approves Tribune Media sale: What's next for WGN?". RobertFeder.com. Retrieved September 17, 2019.
- ^ "Nexstar Media Group Completes Tribune Media Acquisition Creating The Nation's Largest Local Television Broadcaster", Nexstar Media Group, 19 September 2019, Retrieved 3 October 2019.
- ^ Channick, Robert (September 19, 2019). "Nexstar completes purchase of WGN owner Tribune Media". Chicago Tribune. Retrieved September 19, 2019.
- ^ Littleton, Cynthia (September 19, 2019). "Nexstar Completes Tribune Acquisition, Sean Compton to Head Programming". Variety. Retrieved September 19, 2019.
- ^ Brickley, Peg (February 14, 2011). "Tribune Seeks to Keep Food Network Stake". WSJ. Retrieved January 27, 2019.
Further reading
- Auletta, Ken (May 1998). "Synergy City". American Journalism Review. College Park, Maryland: University of Maryland Foundation. Retrieved January 1, 2014.
External links
- Official website
- Nieman Journalism Lab. "Tribune Company". Encyclo: an encyclopedia of the future of news. Retrieved April 1, 2012.