You will be redirected back to your article in seconds

No. 13: Tribune

Chicago

Revenue: $5.7 billion

Net Profit: $224 million

Tribune, the nation’s third-largest newspaper publisher and a Chicago institution, grew dramatically last year when it inked a deal with Times Mirror adding such titles as the Los Angeles Times, the Hartford Courant and Newsday.

Tribune itself owns a portfolio of assets including the Chicago Times; 22 TV stations; 25% of AOL Time Warner’s WB network; a handful of radio stations; a growing collection of Internet sites; the Chicago Cubs baseball team; and Tribune Entertainment, which develops and distributes first-run TV programming for the Tribune station group and for national syndication.

Tribune’s expansion on the newspaper side had a few happy months before it was hit, like other publishers and broadcasters, with the current sluggish advertising market that’s eating into revenue. A wave of job buyouts and other cutbacks at Tribune papers led to a $14 million restructuring charge earlier this year. The LA Times said last month that it’s planning to lay off 1,570 part-time workers in its distribution system and close several offices.

However, execs were cautiously optimistic last month, noting that the downturn in advertising may have leveled off in late June and into July — meaning the worst may be over. However, the current (third) quarter isn’t likely to show a real uptick.

Like Gannett, Tribune is seen as acquisitive if the cross-ownership ban is lifted. Company recently won Federal Communications Commission permission to buy a station in Waterbury, Conn. It already owns a Fox affiliate and the Courant in nearby Hartford. It got a waiver to keep both stations but was given only six months to comply with the cross-ownership rule.

More Biz

  • David Glasser Fired by the Weinstein

    Weinstein Co. Board Fires COO David Glasser for Cause

    Chicago Revenue: $5.7 billion Net Profit: $224 million Tribune, the nation’s third-largest newspaper publisher and a Chicago institution, grew dramatically last year when it inked a deal with Times Mirror adding such titles as the Los Angeles Times, the Hartford Courant and Newsday. Tribune itself owns a portfolio of assets including the Chicago Times; 22 […]

  • Rules Don't Apply review

    Warren Beatty Sought Wider 'Rules Don't Apply' Release Despite Grim Test Screenings

    Chicago Revenue: $5.7 billion Net Profit: $224 million Tribune, the nation’s third-largest newspaper publisher and a Chicago institution, grew dramatically last year when it inked a deal with Times Mirror adding such titles as the Los Angeles Times, the Hartford Courant and Newsday. Tribune itself owns a portfolio of assets including the Chicago Times; 22 […]

  • Oh Seok-geun Korean Film Council

    New Leader Promises Reforms at Korean Film Council

    Chicago Revenue: $5.7 billion Net Profit: $224 million Tribune, the nation’s third-largest newspaper publisher and a Chicago institution, grew dramatically last year when it inked a deal with Times Mirror adding such titles as the Los Angeles Times, the Hartford Courant and Newsday. Tribune itself owns a portfolio of assets including the Chicago Times; 22 […]

  • SOUTH KOREA OUTMandatory Credit: Photo by

    Actress Choi Hee-seo Looks Forward to a Promising Career

    Chicago Revenue: $5.7 billion Net Profit: $224 million Tribune, the nation’s third-largest newspaper publisher and a Chicago institution, grew dramatically last year when it inked a deal with Times Mirror adding such titles as the Los Angeles Times, the Hartford Courant and Newsday. Tribune itself owns a portfolio of assets including the Chicago Times; 22 […]

  • The Prison Korean Cinema

    Korea's Box Office Faces a Drop in Admissions as Streaming Services Compete

    Chicago Revenue: $5.7 billion Net Profit: $224 million Tribune, the nation’s third-largest newspaper publisher and a Chicago institution, grew dramatically last year when it inked a deal with Times Mirror adding such titles as the Los Angeles Times, the Hartford Courant and Newsday. Tribune itself owns a portfolio of assets including the Chicago Times; 22 […]

  • Andy Lo Hong Kong Writer Director

    Ambitious Filmmaker Andy Lo Wants Success in Both Hong Kong and China

    Chicago Revenue: $5.7 billion Net Profit: $224 million Tribune, the nation’s third-largest newspaper publisher and a Chicago institution, grew dramatically last year when it inked a deal with Times Mirror adding such titles as the Los Angeles Times, the Hartford Courant and Newsday. Tribune itself owns a portfolio of assets including the Chicago Times; 22 […]

  • Tomorrow Is Another Day Hong Kong

    Hong Kong Films Face Challenges in Mainland China

    Chicago Revenue: $5.7 billion Net Profit: $224 million Tribune, the nation’s third-largest newspaper publisher and a Chicago institution, grew dramatically last year when it inked a deal with Times Mirror adding such titles as the Los Angeles Times, the Hartford Courant and Newsday. Tribune itself owns a portfolio of assets including the Chicago Times; 22 […]

More From Our Brands

Access exclusive content