Tribune to Sell Southern Connecticut Newspapers
October 25 2007 - 9:30AM
PR Newswire (US)
CHICAGO, Oct. 25 /PRNewswire-FirstCall/ -- Tribune Publishing, a
division of Tribune Company (NYSE:TRB), today announced the sale of
its Southern Connecticut Newspapers, The Advocate (Stamford) and
Greenwich Time, to Hearst Corporation for $62.4 million. The
newspapers will be managed by MediaNews Group, Inc., under an
existing joint venture agreement with Hearst. The transaction is
expected close within the next few weeks. It does not include real
estate in Stamford and Greenwich, which Tribune plans to sell
separately. TRIBUNE (NYSE:TRB) is one of the country's top media
companies, operating businesses in publishing, interactive and
broadcasting. It reaches more than 80 percent of U.S. households
and is the only media organization with newspapers, television
stations and websites in the nation's top three markets. In
publishing, Tribune's leading daily newspapers include the Los
Angeles Times, Chicago Tribune, Newsday (Long Island, N.Y.), The
Sun (Baltimore), South Florida Sun-Sentinel, Orlando Sentinel and
Hartford Courant. The company's broadcasting group operates 23
television stations, Superstation WGN on national cable, Chicago's
WGN-AM and the Chicago Cubs baseball team. Popular news and
information websites complement Tribune's print and broadcast
properties and extend the company's nationwide audience.
DATASOURCE: Tribune Publishing CONTACT: MEDIA: Gary Weitman,
+1-312-222-3394 (office), +1-312-222-1573 (fax), , or INVESTORS:
Ruthellyn Musil, +1-312-222-3787 (office), +1-312-222-1573 (fax), ,
both of TRIBUNE Web site: http://www.tribune.com/
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