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Tribune Publishing facts for kids

Kids Encyclopedia Facts
For the former broadcast and digital media company, see Tribune Media.
"Tronc" redirects here. For other uses, see Tronc (disambiguation).
Quick facts for kids
Tribune Publishing Company
Formerly
 Tronc, Inc. (2016–2018)
Subsidiary
ISIN ISIN: [https://isin.toolforge.org/?language=en&isin=US89609W1071 US89609W1071]
Industry Newspapers and commuter tabloids
Genre Publishing
Founded June 10, 1847 (178 years ago) (1847-06-10)
(original founding, as the Chicago Daily Tribune)
August 4, 2014 (10 years ago) (2014-08-04)
(as Tribune Publishing Company)
Headquarters
Chicago, Illinois
,
United States
Key people
  • Philip Franklin (Chairman)
  • Heath Freeman (CEO and President)
  • Mike Lavey (acting Chief Financial Officer)
  • Colin McMahon (Chief Content Officer and Editor-in-Chief of Chicago Tribune)
  • Jean Nechvatal (VP of Human Resources)
Revenue Decrease$983.1 million USD (2019)
Increase$4.8 million USD (2019)
Total assets Decrease$682.3 million USD (2019)
Number of employees
 4,114 (2019)
Parent Alden Global Capital

Tribune Publishing Company is an American company that publishes newspapers and online news. It was briefly known as Tronc, Inc. from 2016 to 2018. In May 2021, a company called Alden Global Capital bought Tribune Publishing.

Tribune Publishing owns many well-known newspapers. These include the Chicago Tribune, the New York Daily News, the Orlando Sentinel, and the Sun-Sentinel in South Florida. It also publishes other newspapers in Pennsylvania and Virginia. The company also runs websites and provides news content to other media.

The company's roots go back to 1847. That's when the Chicago Tribune newspaper was first started. For a long time, Tribune Publishing was part of a bigger company called Tribune Media. But in August 2014, it became its own separate public company.

Before Alden Global Capital bought it, Tribune Publishing was one of the largest newspaper publishers in the United States. It owned eleven daily newspapers across the country.

History of Tribune Publishing

How it all started

The story of Tribune Publishing began in 1847. On June 10 of that year, the Chicago Tribune published its very first newspaper. It was printed in a small building in Chicago. The company and its former parent, Tribune Media, are named after this newspaper.

In 1869, the Tribune built its first large building. It was a four-story structure. But in October 1871, the Great Chicago Fire destroyed most of the city, including the Tribune building. Despite this, the newspaper started printing again just two days later. Its editorial famously declared, "Chicago Shall Rise Again."

The newspaper's editor and part-owner, Joseph Medill, became mayor of Chicago. He helped lead the city's rebuilding efforts. Medill took full control of the newspaper in 1874 and ran it until he passed away in 1899.

Growing the company

In 1911, Joseph Medill's grandsons, Robert R. McCormick and Joseph Medill Patterson, took over the company. That same year, the Chicago Tribune opened its first paper mill in Canada.

In 1918, the Chicago Tribune-New York News Syndicate was created. This led to Joseph Patterson starting the company's second newspaper. This was the New York Daily News, which began on June 26, 1919.

The company continued to grow by buying other newspapers. In 1963, it bought the Sun-Sentinel in Fort Lauderdale, Florida. Then, in 1965, it bought the Orlando Sentinel.

In 1973, the company started sharing stories with other newspapers. This was through a new news service. By 1990, this service was called Knight-Ridder/Tribune. It provided news, photos, and graphics to many newspapers.

In 2000, Tribune made a very big deal. It bought the Times Mirror Company for $8.3 billion. This was the largest purchase in the history of the newspaper industry. This deal 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 also owned AM New York. However, Tribune sold both Newsday and AM New York 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 no longer be traded on the stock market. This deal was approved by most shareholders.

However, in 2008, the Tribune Company faced a lot of debt. This was due to the purchase and a big drop in newspaper advertising. So, the company had to file for bankruptcy protection. This was the largest bankruptcy in the history of American media. The company stayed in bankruptcy for four years.

In 2012, a plan was approved for the Tribune Company to come out of bankruptcy. Three companies that held its debt took control of Tribune's properties.

Becoming a separate company

In 2013, Tribune announced it would split into two companies. The newspaper publishing part would become Tribune Publishing Company. The other parts, like broadcasting and digital media, would stay with the Tribune Company. This split was completed on August 4, 2014. The publishing part became Tribune Publishing Company, and the original company was renamed Tribune Media.

After the split, Tribune Publishing continued to grow. In 2014, it bought many local newspapers in the Chicago area. In 2015, it bought the San Diego Union-Tribune. This newspaper and the Los Angeles Times became part of a new group called the California News Group.

In 2016, another publishing company, Gannett, tried to buy Tribune Publishing. Tribune's shareholders rejected the offer.

The "tronc" era

On June 2, 2016, the company changed its name to tronc. This was short for "Tribune online content." The company hoped to focus more on digital content, like videos. They even had a slogan: From Pixels to Pulitzers. However, many people made fun of the new name and the company's plans. Some said "tronc" sounded like "a stack of newspapers hitting a dumpster."

In 2017, tronc bought the New York Daily News again. The Daily News had been owned by the Tribune Company before being sold in 1991. Tronc bought it for just $1, plus taking on its debts.

In 2018, tronc sold its California newspapers, including the Los Angeles Times and San Diego Union-Tribune. After this sale, the company announced it would change its name back to "Tribune Publishing."

Return to Tribune Publishing

On June 19, 2018, the company officially went back to being called Tribune Publishing. Its headquarters also moved to One Prudential Plaza in Chicago.

In December 2019, Alden Global Capital, a company that manages investments, bought a large share of Tribune Publishing.

During the COVID-19 pandemic in 2020, Tribune Publishing closed the newsrooms of several of its newspapers. This included the New York Daily News and the Orlando Sentinel.

Acquisition by Alden Global Capital

In May 2021, Alden Global Capital bought Tribune Publishing for $635 million. This made Alden Global Capital the second-largest newspaper publisher in the United States.

A key part of the sale was the decision by Patrick Soon-Shiong, who owned a large part of Tribune's stock, not to vote on the sale.

Before the sale was finalized, another group of buyers, Stewart W. Bainum Jr. and Hansjörg Wyss, offered to buy Tribune Publishing for more money. However, this deal did not happen. Bainum had wanted to buy The Baltimore Sun from Alden, but they could not agree on terms. So, Bainum tried to buy the whole company instead.

Some people were worried that Alden Global Capital would make big cuts to Tribune's newspapers. It was noted that staffing levels at Tribune Publishing's newspapers had already dropped a lot between 2019 and 2020.

In January 2024, Alden sold The Baltimore Sun to David D. Smith. In February 2024, Tribune Publishing announced it would lay off about 200 employees from its printing plant in Chicago. This plant will close and be torn down to make way for a casino. Printing will move to another location.

Newspapers and Magazines Owned

Current Publications

Newspapers

Magazines

  • City & Shore Magazine
  • Chicago Magazine
  • Hartford Magazine
  • Naperville Magazine
  • South Florida Parenting

Websites

  • The Daily Meal
  • The Active Times
  • Military News
  • Metromix

News Services

  • Tribune Content Agency (provides news content to other media)

Former Publications

See also

Kids robot.svg In Spanish: Tribune Publishing para niños

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