Tribune Publishing facts for kids
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Formerly
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Tronc, Inc. (2016–2018) |
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| Subsidiary | |
| Traded as | NASDAQ: TRNC (2017–2018) NASDAQ: TPCO (2018–2021) |
| ISIN | ISIN: [https://isin.toolforge.org/?language=en&isin=US89609W1071 US89609W1071] |
| Industry | Newspapers and commuter tabloids |
| Genre | Publishing |
| Founded | June 10, 1847 (original founding, as the Chicago Daily Tribune) August 4, 2014 (as Tribune Publishing Company) |
| Headquarters |
Chicago, Illinois
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U.S.
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Key people
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| Revenue |  US$983.1 million (2019) |
 US$4.8 million (2019) |
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| Total assets | US$682.3 million (2019) |
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Number of employees
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4,114 (2019) |
| Parent | Tribune Company (1847–2014) Alden Global Capital (2021–present) |
Tribune Publishing Company is an American company that publishes newspapers and online news. It was briefly known as Tronc, Inc.. The company owns famous newspapers like the Chicago Tribune, the Orlando Sentinel, and the Hartford Courant. It also publishes many local newspapers and runs news websites.
Tribune Publishing started in 1847 with the Chicago Tribune newspaper. For a long time, it was part of a bigger company called Tribune Company. In August 2014, it became its own separate public company. In May 2021, a company called Alden Global Capital bought Tribune Publishing. Before this, Tribune Publishing was one of the largest newspaper publishers in the United States.
History of Tribune Publishing
How the Company Started
Tribune Publishing's story began in 1847. That's when the Chicago Tribune newspaper printed its first edition. It was published on June 10, 1847, in a small office in Chicago.
In 1869, the Tribune built its first four-story building. But in October 1871, the Great Chicago Fire destroyed it. The newspaper quickly started printing again just two days later. Its editor, Joseph Medill, helped rebuild the city. Medill took full control of the newspaper in 1874 and ran it until he passed away in 1899.
In 1911, Medill's grandsons, Robert R. McCormick and Joseph Medill Patterson, took over. That same year, the Chicago Tribune opened its first paper mill in Canada. In 1918, they formed a news group called the Chicago Tribune-New York News Syndicate. This led to Joseph Patterson starting a second newspaper, the New York Daily News, in 1919.
Growing Bigger
The company grew by buying other newspapers. In 1963, it bought the Sun-Sentinel in Florida. In 1965, it bought the Orlando Sentinel.
In 2000, Tribune made a huge deal. It bought the Times Mirror Company for $8.3 billion. This added seven more daily newspapers to Tribune's collection. These included the Los Angeles Times, The Baltimore Sun, and the Hartford Courant.
Later, Tribune started daily newspapers for people who travel to work. These included the Chicago Tribune's RedEye edition in 2002. The company sold some of its newspapers, like Newsday, in 2008.
Changes in Ownership
In 2007, an investor named Sam Zell bought the Tribune Company. He wanted to make it a private company, meaning its shares would not be traded on the stock market. This deal was completed in December 2007.
However, in December 2008, the Tribune Company faced a lot of debt. It had borrowed a lot of money to become private. Also, newspaper advertising money was going down. So, the company had to file for bankruptcy protection. This means it asked a court for help to reorganize its finances. The company stayed in bankruptcy for four years.
In December 2012, the Tribune Company finally came out of bankruptcy. Some of its main lenders, like Oaktree Capital Management and JPMorgan Chase, took control of its properties.
Becoming a Separate Company
In 2013, Tribune announced it would split into two companies. The newspaper part would become Tribune Publishing Company. The other parts, like broadcasting and digital media, would stay with the Tribune Company. This split officially happened on August 4, 2014. The newspaper part became Tribune Publishing Company, and the original company was renamed Tribune Media.
After the Split
After becoming a separate company, Tribune Publishing continued to grow. In October 2014, it bought many local newspapers in the Chicago area. In May 2015, it bought San Diego Union-Tribune. This newspaper became part of a new group with the Los Angeles Times.
In 2016, another newspaper company, Gannett, tried to buy Tribune Publishing. Tribune's shareholders said no to the offer. Gannett tried again with a higher offer, but Tribune Publishing still rejected it. In November 2016, Gannett stopped trying to buy the company.
The tronc Period
On June 2, 2016, the company changed its name to tronc. This name was short for "Tribune online content." The company wanted to focus more on digital content and videos. They hoped to use new technologies like machine learning and artificial intelligence to improve their content.
Many people made fun of the new name and the company's video announcement. They thought it used too many confusing words. In June 2018, the company changed its name back to "Tribune Publishing."
In September 2017, tronc bought the New York Daily News. This newspaper had been owned by the Tribune Company before. In February 2018, tronc sold its California newspapers, including the Los Angeles Times and San Diego Union-Tribune.
Tribune Publishing Again
After changing its name back to Tribune Publishing, the company moved its main office in Chicago. In December 2018, a computer problem caused printing and delivery issues for several newspapers, including the Baltimore Sun and Chicago Tribune.
In January 2019, Timothy P. Knight became the new CEO of Tribune Publishing. In December 2019, a company called Alden Global Capital bought a large part of Tribune Publishing's shares.
In February 2020, Timothy Knight stepped down as CEO. During the COVID-19 pandemic in 2020, Tribune Publishing closed the newsrooms of many of its papers.
Bought by Alden Global Capital
In May 2021, Alden Global Capital bought Tribune Publishing for $635 million. This made Tribune Publishing a private company again. Alden Global Capital already owned a big part of Tribune Publishing.
Before the sale, there were other companies interested in buying Tribune Publishing. Two people, Stewart W. Bainum Jr. and Hansjörg Wyss, offered more money. However, their deal did not work out. Bainum had wanted to buy the Baltimore Sun separately. But he decided to try to buy the whole company when his deal for the Sun fell apart.
Some people were worried that Alden Global Capital would cut many jobs at Tribune Publishing. They noted that staffing levels had already dropped a lot between 2019 and 2020.
After the sale, the New York Daily News was moved to a separate company also owned by Alden. On January 15, 2024, Tribune Publishing sold The Baltimore Sun to David D. Smith.
In February 2024, Tribune Publishing announced it would close its printing plant in Chicago. About 200 employees would lose their jobs. The plant was sold to be used for a casino. Printing operations moved to a different location in Schaumburg, Illinois.
Newspapers and Magazines Owned
Current Publications
Newspapers
- Chicago Tribune (Chicago, Illinois)
- Daily Southtown
- Post-Tribune
- Naperville Sun
- Elgin Courier-News
- The Beacon-News
- Lake County News-Sun
- Pioneer Press (various local editions)
- Sun Sentinel (Fort Lauderdale, Florida)
- Boca Times
- El Sentinel del Sur de la Florida
- Florida Jewish Journal
- Delray Sun
- Gateway Gazette
- Glades Gazette
- Pier Review
- Riverside Times
- Sawgrass Sun
- The Forum
- The Trailblazer
- The Villager
- West Boca Times
- Orlando Sentinel (Orlando, Florida)
- El Sentinel
- The Virginian-Pilot (Norfolk, Virginia)
- Inside Business
- AltDaily
- The Hartford Courant (Hartford, Connecticut)
- ReminderNews
- The Morning Call (Allentown, Pennsylvania)
- Daily Press (Newport News, Virginia)
- The Virginia Gazette
- The Tidewater Review
Other News Services
- Tribune News Service
Magazines
- City & Shore Magazine
- Chicago Magazine
- Hartford Magazine
- Naperville Magazine
- Polo Equestrian of the Palm Beaches
- Prime Magazine
- South Florida Parenting
- Williamsburg Magazine
Websites
- The Daily Meal
- The Active Times
- Military News
- Metromix
- Pro Soccer USA
News Agencies
- Tribune Content Agency
Former Publications
- AM New York (New York, New York; 2003–2008)
- The Capital (Annapolis, Maryland)
- Maryland Gazette
- Bowie Blade
- Crofton-West County Gazette
- Baltimore Sun (Baltimore, Maryland; 2000-2021)
- Carroll County Times
- Newsday (Melville, New York; 2000–2008)
- Hoy (Los Angeles and San Diego, California; 2000−2018)
- Los Angeles Times (Los Angeles, California; 2000–2018)
- Daily Pilot
- Burbank Leader
- Glendale News Press
- La Canada Valley Sun
- RedEye (Chicago, Illinois)
- New York Daily News (New York City; 1919-1993, 2017-2021)
- San Diego Union-Tribune (San Diego, California; 2015–2018)
See also
In Spanish: Tribune Publishing para niños
