Tribune Company: The Second Largest in Newspaper Publishing in US

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 10^th 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.