Full Description

Tribune Company, incorporated in 1861, is a media and entertainment company engaged in newspaper publishing, television and radio broadcasting and entertainment through its subsidiaries. The Company’s operations are divided into two industry segments: publishing and broadcasting and entertainment. On April 1, 2007, the Company entered into a series of transactions with the Tribune Employee Stock Ownership Plan and EGI-TRB, L.L.C., which were completed, on December 20, 2007, culminating in the cancellation of all issued and outstanding shares of the Company’s common stock. In December 2007, Tribune completed its merging with an acquisition subsidiary of the Tribune Employee Stock Ownership Plan. In September 2008, Gannett Co., Inc. acquired an additional 10% stake in CareerBuilder, Inc., from Tribune, thereby gaining a 50.8% controlling interest.

Publishing

Tribune's publishing segment represented 72% of consolidated operating revenues during the year ended December 31, 2007. The Company’s daily newspapers are the Los Angeles Times, Chicago Tribune, Newsday, South Florida Sun-Sentinel, Orlando Sentinel, The Sun, Hartford Courant, The Morning Call and Daily Press. Its publishing segment also manages the Websites of the daily newspapers and television stations, as well as other branded sites targeting specific communities of interest. It also operates chicagotribune.com, the Web edition of the newspaper and RedEye, a free daily newspaper in Chicago targeting young, urban commuters.

The Company also owns Tribune Media Services, Inc. (TMS), which creates aggregates and distributes news, information and entertainment content through print, online and on-screen media. The TMS Entertainment Products division creates television and movie guide products for media companies and consumers, and sells data for entertainment guides to newspapers, cable, satellite operators and consumer electronics manufacturers. The TMS News and Features division licenses content to media companies from writers, artists, newspaper and magazine publishers, and wire services. TMS serves around 7,000 media customers worldwide.

Broadcasting and Entertainment

Tribune’s broadcasting and entertainment segment represented 28% of consolidated operating revenues during 2007. At December 30, 2007, the segment included The CW Television Network affiliates located in New York, Los Angeles, California; Chicago, Illinois; Dallas, Texas; Washington, D.C., Houston, Texas; Miami, Florida; Denver, Colorado; St. Louis, Missouri; Portland, Oregon; Indianapolis, Indiana; San Diego, California; Hartford, Connecticut and New Orleans, Louisiana.

Other businesses include Tribune Direct, which provides direct mail services, and Chicagoland Publishing Co., which publishes a number of free guides in the real estate, automotive and help wanted categories and the monthly magazine Chicago. It also runs a free Spanish-language newspaper, Hoy, which provides local, national and international news and features of interest to the fourth largest Hispanic market in the United States.

During 2007, radio/entertainment operations contributed 19% of the broadcasting and entertainment segment’s operating revenues. WGN-AM, Chicago, Illinois is the only radio station owned by the Company. Entertainment segment includes Tribune Entertainment Co. and the Chicago Cubs baseball team. Cubs games are broadcast on WGN-TV and WGN-AM. Tribune Entertainment is also a distributor of programming in the United States syndicated television, cable television and ancillary markets. The Company distributes its own programming together with those licensed from third parties.

Tribune is likewise party to a range of distribution, marketing, and advertiser sales relationships with suppliers, such as DreamWorks SKG for the syndication and ad sales of their film library, FremantleMedia, Hearst Entertainment, Rigel Entertainment, Telco Productions, Debmar-Mercury Entertainment, DIC Entertainment and Carlton America. Tribune California Properties, a subsidiary of Tribune Entertainment, owns and maintained a studio production lot in Hollywood, California. Tribune Studios, also a subsidiary of Tribune Entertainment, managed the site.

The Company competes with Baltimore Examiner, The Washington Post, The Annapolis Capital and The Carroll County Times.