46-550: Chicago is a monthly magazine published by Tribune Publishing . It concentrates on lifestyle and human interest stories, and on reviewing restaurants, travel, fashion, and theatre from or nearby Chicago . Its circulation in 2004 was 165,000, larger than People in its market. Also in 2004, it received the National Magazine Award for General Excellence. It is a member of the City and Regional Magazine Association (CRMA). In
92-542: A New York City-based hedge fund , acquired a 32% stake in shares of Tribune Publishing Company. In February 2020, Dreier and Knight stepped down as chairman and CEO, respectively. Knight was replaced by the chief financial officer, Terry Jimenez. [1] In 2020, during the COVID-19 pandemic , Tribune Publishing closed a number of its papers' newsrooms, including those of: the New York Daily News , The Morning Call ,
138-549: A four-story structure at Dearborn and Madison Streets, in 1869; however the building was destroyed, along with most of the city, by the Great Chicago Fire in October 1871. The Tribune resumed printing two days later with an editorial declaring "Chicago Shall Rise Again". The newspaper's editor and part-owner, Joseph Medill , was elected mayor and led the city's reconstruction. A native Ohioan who first acquired an interest in
184-553: A new operating entity known as the California News Group, led by Times publisher and CEO Timothy E. Ryan. The two California papers retained distinct operations, but sought a synergy with content sharing between them. In April 2016, Gannett Company (which, much like Tribune, had spun out its broadcasting properties into a separate firm to focus on publishing assets) made an unsolicited bid to acquire Tribune Publishing for $ 12.25 per-share, or around $ 400 million. This deal
230-573: A presentation for lenders, Tribune revealed that it had set August 4 as the target date for its spin-off of Tribune Publishing. The split was finalized on the target date, with the publishing arm being spun out as Tribune Publishing Company, and its former parent company being renamed Tribune Media . Tribune Publishing acquired six suburban daily and 32 weekly newspapers in the Chicago Metropolitan Area in October 2014. These acquisitions were similar in strategy to earlier acquisitions in
276-480: A reorganization plan to allow the company to emerge from Chapter 11 bankruptcy protection in a Delaware bankruptcy court . Oaktree Capital Management , JPMorgan Chase and Angelo, Gordon & Co. , which were the company's senior debt holders, assumed control of Tribune's properties upon the company's exit from bankruptcy on December 31, 2012. On February 26, 2013, Tribune reportedly hired investment firms Evercore Partners and J.P. Morgan & Co. to oversee
322-511: A sharp downturn in newspaper advertising revenue, Tribune filed for Chapter 11 bankruptcy protection in what was the largest bankruptcy in the history of the American media industry. Company plans called for it to emerge from bankruptcy by May 31, 2010, but the company would end up in protracted bankruptcy proceedings for four years. On July 13, 2012, the Tribune Company received approval of
368-520: A shift of focus away from hard news towards usage maximization, which he perceived as undue), satirist John Oliver mocked this new name as "the sound an ejaculating elephant makes", and (ironically) "the sound of a stack of newspapers hitting a dumpster." The Verge said, "Sounds like a Millennial falling down the stairs." On March 13, 2017, tronc announced that it would license Arc, the content management system of The Washington Post . On September 4, 2017, tronc announced that it had acquired
414-639: The Hartford Courant , additional titles in Pennsylvania and Virginia , syndication operations, and websites. It also publishes several local newspapers in its metropolitan regions, which are organized in subsidiary groups. Incorporated in 1847 with the founding of the Chicago Tribune , Tribune Publishing operated as a division of the Tribune Company , a Chicago-based multimedia conglomerate, until it
460-702: The Los Angeles Times , the Long Island-based Newsday , The Baltimore Sun , and the Hartford Courant . Tribune Media Net, the national advertising sales organization of Tribune Publishing, was established in 2000 to take advantage of the company's expanded scale and scope. Later in the decade, Tribune launched daily newspapers targeting urban commuters, including the Chicago Tribune 's RedEye edition in 2002, followed by an investment in AM New York one year later. In 2006, Tribune acquired
506-609: The Orlando Sentinel in 1965. In 1973, the company began sharing stories among 25 subscriber newspapers via the newly formed news service , the Knight News Wire. By 1990, this service was known as Knight-Ridder/Tribune and provided graphics, photo, and news content to its member newspapers. KRT became McClatchy-Tribune Information Services, which is owned by the Tribune Company and McClatchy, when The McClatchy Company purchased Knight-Ridder Inc. in 2006. Tribune later acquired
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#1732863269115552-562: The Orlando Sentinel , the Carroll County Times , the Capital Gazette and the Hartford Courant . Tribune Publishing was acquired by hedge fund Alden Global Capital (Alden) for $ 635 million, giving its final approval on May 21, 2021, with the transaction officially closing on May 25, 2021, taking the company private. In December 2019, Alden acquired a 32% stake in shares of Tribune Publishing Company. Most of its stake
598-872: The Chicagoan to the Chicago Guide in September 1974. The circulation of the two magazines was combined with the November 1974 issue of the Chicago Guide .) Chicago Guide magazine was renamed Chicago magazine at the start of 1975.) In 1981, Chicago introduced the Nelson Algren Award, a short story contest that the magazine later abandoned before it was picked up by the Chicago Tribune newspaper. In December 1986, Chicago Educational Television Association, which had owned WFMT and WTTW , announced that it would sell
644-662: The New York Daily News . Having been established in 1919 by the Chicago Tribune-New York News Syndicate, the Daily News had been owned by the Tribune Company before its sale to Robert Maxwell in 1991 and then to Mortimer Zuckerman in 1993. Tronc purchased the Daily News for $ 1 plus the assumption of its liabilities. On July 23, 2018, tronc announced massive layoffs at the paper, and ousted its editor in chief. On February 7, 2018, tronc announced
690-472: The Sun for $ 65 million, along with payments on a transitional-services agreement. The transitional-services agreement would have involved payments from the Sun to Alden for logistical aspects of running the business including its payroll and circulation departments and national and digital sales unit. Bainum believed he had negotiated a deal for two years of transitional services, with a 30-day exit clause. Instead, he
736-683: The Tribune in 1855, Medill gained full control of the newspaper in 1874 and ran it until his death in 1899. Medill's two grandsons, cousins Robert R. McCormick and Joseph Medill Patterson , assumed leadership of the company in 1911. That same year, the Chicago Tribune ' s first newsprint mill opened in Thorold , Ontario, Canada. The mill marked the beginnings of the Canadian newsprint producer later known as QUNO, in which Tribune held an investment interest until 1995. The Chicago Tribune-New York News Syndicate
782-479: The $ 635 million offer from Alden. The Bainum/Wyss acquisition offer came about when Bainum's offer to purchase the Baltimore Sun from Alden once it completed its acquisition of Tribune Publishing fell apart. The Sun deal fell apart on March 12 when Bainum became convinced that Alden was smuggling extra costs and fees into its deal with him that violated what he thought he had agreed to. He had agreed to purchase
828-559: The December 1970 issue and became a full-sized magazine. Two other magazines titled Chicago magazine existed between the 1950s and the 1970s. One, published by founding editor Maurice English , published from 1954 until 1957 or 1958. The other version was a quarterly magazine that was published by the New Chicago Foundation from 1964 until 1973 and had Richard P. Frisbie as its editor, from 1971 until 1973. (Starting in late 1973,
874-666: The Newport News, Virginia-based Daily Press in 1986. In the wake of a dispute with some of its labor unions, the New York Daily News was sold to British businessman Robert Maxwell in 1991. In June 2000, Tribune acquired the Los Angeles-based Times Mirror Company in a merger deal worth $ 8.3 billion, which was the largest acquisition in the history of the newspaper industry. The merger added seven daily newspapers to Tribune's portfolio, including
920-553: The United States. With the acquisition, Alden Global Capital became the second-largest newspaper publisher in the United States. Tribune Publishing's history dates back to 1847, when the Chicago Tribune (for which the company and its former parent, Tribune Media, are named) published its first edition on June 10 of that year, in a one-room plant at LaSalle and Lake Streets in Chicago. The Tribune constructed its first building,
966-424: The amount of video to 50% of all content by 2017, in an effort to increase reader engagement and ad revenue. The company also introduced a new slogan, From Pixels to Pulitzers . The video announcement was derided in social and print media as full of buzzwords and lacking substance. On August 7, 2016, while criticising several aspects of a corporate restructuring that went along with the rebranding (for instance
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#17328632691151012-638: The company in October of that year. In July 2018 tronc moved their headquarters from Tribune Tower several blocks south to One Prudential Plaza . In January 2019, Tribune announced that industry veteran Timothy P. Knight would succeed Justin Dearborn as CEO. Dearborn had served as CEO since 2016. The company's board of directors also elected former Congressman and chairman of the House Rules Committee David Dreier to succeed Dearborn as chairman. In December 2019, Alden Global Capital ,
1058-399: The company private. The deal was approved by 97% of the company's shareholders on August 21, 2007. Privatization of the Tribune Company occurred on December 20, 2007, with Tribune's stock listing being terminated at the close of the trading day. On December 8, 2008, faced with a high debt load totaling $ 13 billion, related to the company's leveraged buyout and subsequent privatization, and
1104-489: The company sold The Baltimore Sun to David D. Smith , executive chairman of Sinclair Broadcast Group . The purchase price was not immediately disclosed. In February 2024, Tribune Publishing announced it will layoff about 200 employees from the Freedom Center printing plant in Chicago. The plant will close and be demolished as the property was sold to be used as the site of a casino. Printing operations will be moved to
1150-450: The company. But it seems that's already happening." Hansjörg Wyss announced the third week of April that he was withdrawing from acquisition talks. Shortly thereafter, Tribune Publishing said that it was ending its conversations with Stewart W. Bainum Jr. because they believed that this possible deal could not reasonably be expected, in the absence of Wyss, to lead to a "superior proposal". Wyss had been expected to contribute $ 505 million to
1196-512: The decision by Patrick Soon-Shiong , who owned 24% of the company's stock, to abstain from the May 21 shareholder vote. In early April 2021, Tribune Publishing announced that it has entered into serious discussions with an alternative pair of suitors for an amount higher than its deal with Alden. The new bidders were Stewart W. Bainum Jr. and Hansjörg Wyss . This deal would have amounted to an overall bid of $ 680 million, or $ 18.50/share, in contrast to
1242-505: The former managing editor of Playboy magazine, became the magazine's editorial director, in a new position created between editor-in-chief Allen Kelson and editor John Fink. From 1986 until 1991, Hillel Levin served as the magazine's editor. He left in early 1991 to join other investors in buying a Miami-based and Caribbean media group. Levin was succeeded by Richard Babcock, who up to that point had been assistant managing editor of Rupert Murdoch 's New York magazine. In April 2009,
1288-448: The formerly New Chicago Foundation-published Chicago magazine changed its name to the Chicagoan , and was published by the husband-and-wife duo of Jon Anderson and Abra Prentice Wilkin , had Richard Christiansen as its editor for a time, and hit the newsstands with its new name and format in September 1973. The Chicagoan was sold to National Textbook Company and S. William Pattis in the spring of 1974 and Pattis turned around and sold
1334-588: The magazine after he was passed over for the top editorial post there. In 2012, longtime Chicago magazine senior writer Marcia Froelke Coburn left Chicago magazine to join Time Out Chicago as a contributing writer. Also in 2012, longtime Chicago magazine senior editor Nora O'Donnell left the magazine to join Playboy magazine in southern California as senior editor and research chief. In March 2014, Chicago magazine's No. 2 editor, Cassie Walker Burke, left
1380-610: The magazine for $ 17 million to a joint venture formed by Metropolitan Detroit Magazine and Adams Communications . The deal closed in January 1987. Landmark Communications bought the magazine in 1990. Primedia bought the magazine in 1995. Tribune bought the magazine from Primedia in 2002. Chicago magazine celebrated its 50th anniversary in 2020. Chicago magazine's first editor was Allen Kelson, who previously had been named editor-in-chief of WFMT Guide in 1968. Kelson later became editor-in-chief, and then publisher. In 1984, Don Gold,
1426-509: The magazine laid off longtime literary editor Christine Newman. In December 2009, it was announced that longtime Chicago restaurant critic Dennis Ray Wheaton would be leaving his position and that Jeff Ruby would replace him. In April 2011, Richard Babcock stepped down as Chicago ' s editor after exactly 20 years in the job. In August 2011, the magazine named Beth Fenner to replace Babcock. In December 2011, Chicago magazine's managing editor, Shane Tritsch, resigned after 18 years with
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1472-451: The magazine to join Crain's Chicago Business as an assistant managing editor. In November 2015, Chicago magazine's award-winning features editor, David Bernstein, took a buyout and left the company. In March 2016, the magazine's editor, Beth Fenner, was fired after more than four years, and the magazine's publisher, Tom Conradi, also was removed from his post. In their places, Susanna Homan
1518-475: The minority equity interest in AM New York , giving it full ownership of the newspaper. The company sold both Newsday and AM New York to Cablevision Systems Corporation in 2008, with the sale of the latter paper closing on July 29 of that year. On April 2, 2007, Chicago-based investor Sam Zell announced plans to buy out the Tribune Company for $ 34.00 a share, totaling $ 8.2 billion, with intentions to take
1564-462: The sale of its California properties ( Los Angeles Times , San Diego Union-Tribune ) to Patrick Soon-Shiong for $ 500 million, with the buyer also assuming of $ 90 million in pension liabilities. The sale closed on June 18 that year and Tribune Publishing announced at the time that it would no longer be referred to as tronc . On June 19, 2018, it was reported that tronc would revert its name back to Tribune Publishing; this would be confirmed by
1610-517: The sale of its newspapers. On July 10, 2013, Tribune announced that it would split into two companies, spinning off its publishing division into the Tribune Publishing Company. Its broadcasting, digital media and other assets (including GraceNote ) would remain with the Tribune Company. On November 20, 2013, Tribune announced it would cut 700 jobs from its newspaper properties due to declining advertising revenues. On June 17, 2014, in
1656-463: The second half of the 20th century, several magazines bore the name Chicago magazine. The current one also has the longest history. It was established in 1952 as the monthly WFMT Guide and was founded as the programming guide for the classical radio station WFMT . Starting in October 1970, the WFMT Guide began accepting paid advertising. The WFMT Guide changed its name to Chicago Guide with
1702-577: The state of Maryland, expanding its footprint in its eight "core markets". On May 7, 2015, Tribune Publishing announced that it had reached a deal to acquire the San Diego Union-Tribune and its associated properties for $ 85 million, ending the paper's 146 years of private ownership. Following the completion of the acquisition, the Union-Tribune and the Los Angeles Times became part of
1748-450: The symbol TRNC. In June 2018, the Tribune Company announced that it would no longer be referred to as Tronc and would instead henceforth be called "Tribune Publishing". At the time in 2016 that the company moved into calling itself tronc , chief technology officer Malcolm CasSelle and chief digital officer Anne Vasquez announced to employees initiatives in content optimization, machine learning , artificial intelligence , and increasing
1794-438: The transaction, with $ 100 million coming from Bainum. Bainum had until the end of the first week in May to submit a better proposal. Tribune Publishing's shareholders voted on a final deal on May 21. Bainum's difficulty in putting together a deal was said to be his inability to find a purchaser for the Chicago Tribune , which is the largest and most expensive of the metropolitan daily newspapers owned by Tribune Publishing. In
1840-470: The wake of the May 21 finalized sale, Bainum expressed continued interest in purchasing the Baltimore Sun and indicated that if he is unable to do so, he might invest a significant sum in creating a digital alternative. Immediately upon the close of the transaction, the New York Daily News was transferred by Alden to a separate company, Daily News Enterprises, also owned by Alden. On January 15, 2024,
1886-520: Was spun off into a separate public company in August 2014. The company confirmed its sale to hedge fund Alden Global Capital on May 21, 2021. The transaction officially closed on May 25. Prior to this acquisition, Tribune Publishing was the nation's third-largest newspaper publisher (behind Gannett and the McClatchy Company ), with eleven daily newspapers and commuter tabloids throughout
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1932-501: Was asked to commit to a five-year agreement with no possibility of an early exit. Bainum took umbrage and, instead, put together a competing bid to purchase the entirety of Tribune Publishing. Poynter.org observed that fears about the potential Alden acquisition may have obscured that staffing levels at Tribune Publishing's nine metropolitan newspapers fell 30.4% from 2019 to 2020. They write, "Employees and local readers are concerned that Alden would make deep cuts to Tribune if it bought
1978-537: Was formed in 1918, leading to Joseph Patterson's establishment of the company's second newspaper, the New York Daily News on June 26, 1919. Tribune's ownership of the New York City tabloid was considered "interlocking" due to an agreement between McCormick and Patterson. The company acquired the Fort Lauderdale-based Sun-Sentinel newspaper in 1963; this was later followed by its purchase of
2024-479: Was named editor and publisher. In October 2017, the magazine's longtime dining editor, Penny Pollack, retired. Tribune Publishing Tribune Publishing Company (briefly Tronc, Inc. ) is an American newspaper print and online media publishing company. The company, which was acquired by Alden Global Capital in May 2021, has a portfolio that includes the Chicago Tribune , the Orlando Sentinel , South Florida's Sun-Sentinel , The Virginian-Pilot ,
2070-452: Was purchased from Michael Ferro at $ 13 a share. Considering what it paid for other tranches , the average price Alden paid for its shares of Tribune Publishing stock is around $ 12.75. It is offering $ 17.25/share. Tribune Publishing announced in February 2021 that it had agreed to be wholly acquired by Alden, and the final approval came in May. A key element in concluding the sale to Alden was
2116-552: Was rejected by Tribune's shareholders in May 2016; in turn, Gannett increased its offer to around $ 15 per-share (around $ 800 million). On May 17, 2016, Tribune chairman Michael Ferro stated that he intended to make a bid to acquire Gannett instead. On November 1, 2016, Gannett announced that it would no longer pursue its acquisition of Tronc. On June 2, 2016, the company announced that it would rebrand itself as tronc , short for "Tribune online content". The rebranding took place on June 20, 2016. Tronc began trading on NASDAQ under
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