Tribune Company
is a multimedia company whose shares are majorly owned by their employees. 48%
of the company’s stocks belong to their corporate employees while there are
three other senior debt holders who jointly control the rest of the shares. JP
Morgan Chase and Angelo, Gordon & Co. both have 9% stakes in the business
while Oak-tree Capital Management holds another 23%.
Next to Gannett
Company, the business is second largest in the newspaper publishing business.
Tribune Company has a total of ten daily newspapers and several tabloids. The
Chicago Tribune, Sun-Sentinel, Orlando Sentinel, Los Angeles Times and
Baltimore Sun are just a few of the names of the company’s commuter tabloids.
Tribune has been in the business for more
than 150 years since its founding in 1847. The company was named after the
Chicago Tribune which also published its first edition on the 10th
of June on the same year. In 1925, the company established its new headquarters
in Chicago. The Tribune Tower was at that time, among the first skyscrapers in
the area. As a giant in the business of journalism, the company has been keen on
catching up with the news may it be across town or around the world.
Through various
acquisitions and mergers, the business has come into shape. In the 1960s, the
company was able to buy the Sun-Sentinel which allowed the business to
penetrate the Florida area. The Daily Press of Virginia also joined the group
in 1986.
The purchase it
made in 1924 of WDAP, one of the first radio stations in Chicago, allowed the
business to enter the world of broadcasting.
This started the business’ expansion in the television industry. In the
year 1948, the business established its network in Chicago and in New York.
This broadened the business’ multimedia portfolio from newsprint to radio
broadcasts to the television shows.
No comments:
Post a Comment