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109-564: RedEye was created because of the Chicago Tribune and other major newspapers' loss of readership among young people. Tribune Company began publishing the RedEye in an effort to pull readers back into readership and eventually migrate them into the big edition ( Tribune ). When RedEye appeared, it was in direct competition with another paper Red Streak , which the Tribune's Chicago competitor

218-444: 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. Coincident with emergence from bankruptcy, company stock began trading as an over-the-counter security under the symbol TRBAA. In December 2014, over-the-counter trading ended and

327-493: A shared services agreement . The sale was completed on December 1, 2014. In 2015, Nexstar sold off the licensee assets of WLYH-TV , the CW affiliate to Howard Stirk Holdings . On March 13, 2014, Nexstar announced that it would purchase Internet Broadcasting, for $ 20 million. The company had also recently acquired competitor Inergize Digital through its purchase of assets from Newport Television, followed by Enterprise Technology Group,

436-489: A "broadcast management company" (later named The Other Company). On January 31, 2008, Tribune Company announced it would purchase real estate leased from TMCT, LLC, which included properties used by the Los Angeles Times , Newsday , Baltimore Sun and Hartford Courant . The company received an option to purchase the real estate for $ 175 million through the 2006 restructuring of TMCT, LLC. In addition, Tribune announced

545-621: A 12.5% stake in The WB Television Network in August 1995; the company had ten of its 16 stations affiliated with the network (including five that were signed as charter affiliates through The WB's initial 1993 affiliation deal with Tribune). Tribune invested $ 21 million in The WB in March 1997, which increased its equity interest in the network to 21.9%. In November 1994, Tribune Broadcasting formed

654-591: A 24-hour local cable news channel for the Chicago area. Online editions of Tribune's newspapers were developed starting in 1995, with the Chicago Tribune ' s digital edition launching in 1996. Also in 1996, Tribune (holding a 20% interest) created a joint venture with American Online (which held an 80% interest) called Digital City, Inc. to set up a series of Digital City websites to provide interactive local news and information services. By 1997, Tribune Publishing had only four daily newspapers remaining in its portfolio:

763-550: A MyNetworkTV-affiliated subchannel of NBC affiliate WISE-TV on August 1. The network also moved its affiliation in Springfield, Missouri from KSFX-TV (operated in a duopoly with area CBS affiliate KOLR ) to upstart MyNetworkTV affiliate KRBK on September 1, 2011, with both stations becoming independents . Nexstar chose to drop Fox from WFXW in Terre Haute, Indiana and re-affiliate with ABC on September 1, 2011 (becoming

872-449: A corporate reorganization, under which its primary subsidiaries of Nexstar Broadcasting and Nexstar Digital were merged into the operating subsidiary Nexstar, Inc. A carriage dispute with Dish Network began on December 2, 2020, and ended by Christmas Eve , which resulted in the removal of at least 164 Nexstar stations in 115 markets, covering about 63-percent of TV homes, from its services. On December 16, 2020, Nexstar announced it

981-401: A definitive agreement" to acquire 75-percent ownership in the network, while Paramount and WBD would each retain 12.5-percent ownership. Based on media industry reports, Nexstar would reportedly assume "a significant portion" of the network's current losses. The deal did not require regulatory approval, but had to perform financial closure conditions at the company's fiscal third quarter, i.e. by

1090-540: A front page consisting only of a large picture and a banner headline. After 15 years of daily distribution, RedEye shifted to a weekly format in 2017 before it stopped publishing in 2020 during the COVID-19 pandemic. Tribune Company Tribune Media Company , also known as Tribune Company , was an American multimedia conglomerate headquartered in Chicago , Illinois . Through Tribune Broadcasting , Tribune Media

1199-499: A hand press. The Tribune constructed its first building, a four-story structure at Dearborn and Madison Streets, in 1869. The building was destroyed in the Great Chicago Fire of October 1871, along with most of the city. The Tribune resumed printing two days later with an editorial declaring "Chicago Shall Rise Again." Joseph Medill , a native Ohioan who acquired an interest in the Tribune in 1855, gained full control of

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1308-399: A high debt load related to the company's privatization and a sharp downturn in newspaper advertising revenue, Tribune filed for Chapter 11 bankruptcy protection . Company plans originally called for it to emerge from bankruptcy by May 31, 2010, but the company would end up in protracted bankruptcy proceedings for another four years. With the company's overall debt totaling $ 13 billion, it was

1417-456: A joint venture with Knight-Ridder, CareerBuilder , that same year. After the 2001 September 11 attacks , the media sector suffered a greater decrease in advertising revenue. This forced a 10% reduction in staff companywide and a $ 151.9 million restructuring charge. In 2002 and 2003, Tribune Broadcasting bought four additional television stations, increasing its total television holdings to 26 stations, some of which were acquired via trades of

1526-588: A late-night talk television program on Fox News entitled Red Eye , the Tribune Company filed a federal trademark infringement lawsuit. As compared with mainstream newspapers, RedEye strongly emphasized pop culture and entertainment news, humorous or lighthearted rather than serious columns , and flashy graphics and large pictures. Like the Chicago Sun-Times , RedEye is a tabloid -format newspaper, oriented vertically rather than horizontally and with

1635-467: A merger with) a termination fee of $ 60 million and gave Meredith right of first refusal to acquire any broadcast or digital properties that may be divested during the purchase. The deal also included contingent value rights for Media General shareholders if it sold spectrum from its stations during the FCC's spectrum incentive auction (a clause that Meredith did not exercise). On May 27, 2016, Nexstar announced

1744-428: A partnership between 21st Century Fox and private equity firm Blackstone Group . However, on May 8, 2017, it was announced that Tribune reached a deal to be acquired by Sinclair Broadcast Group . On May 26, 2017, it was reported by DealReporter that Nexstar might be considering a bid to acquire Tegna Inc. , although such a deal would likely require significant divestments due to ownership conflicts and exceeding

1853-412: A partnership with SportsGrid Inc. to offer the latter's sports betting - and fantasy sports -focused FAST streaming channel SportsGrid as a digital multicast network starting September 1, 2021. A new digital subchannel network, Rewind TV , was launched on September 1, 2021, featuring classic TV shows from the 1980s and 1990s. The Wall Street Journal reported on January 5, 2022, that Nexstar

1962-800: A partnership with several minority partners, including Quincy Jones , to form Qwest Broadcasting. Qwest operated as a separate company from Tribune (which owned stations in a few markets where Tribune had already owned stations, including WATL in Atlanta, which was operated alongside Tribune-owned WGNX ); Tribune entered into a new business sector when it formed Tribune Education in 1993. The sector grew and provided high profit margins. Through 1996, Tribune used $ 400 million to purchase several publishers of education material: Contemporary Books , Inc., The Wright Group, Everyday Learning Corporation, Jamestown Publishers, Inc., Educational Publishing Corporation, NTC Publishing Group and Janson Publications. In 1996, this group

2071-592: A primary affiliation of one station to joining an existing MyNetworkTV-affiliated digital subchannel of a competing Big Three station, with MyNetworkTV going to a secondary affiliation: in Evansville , Fox moved from WTVW (which then became an independent station and later joined the CW ) to a MyNetworkTV-affiliated subchannel of CBS affiliate WEVV-TV on July 1, while in Fort Wayne , the Fox affiliation moved from WFFT-TV to

2180-466: A principal of Superior Communications, who owned the WDKY property, making the sale to Nexstar a homecoming of sorts. WDKY's transaction was completed on September 17, 2020. On September 28, 2015, Nexstar announced that it had presented an unsolicited offer to buy Media General for $ 4.1 billion (including debt). Per share, shareholders of Media General would receive $ 10.50 in cash and 0.0898 shares of Nexstar,

2289-626: A separate deal worth $ 350 million. Nexstar made the transactions to pay down debt and consolidate operations in the Southeast. The sale closed on March 2, 2020. As part of a settlement between the parties in litigation over the failed deal, Sinclair had to sell WDKY-TV in Lexington, Kentucky , and the non-license assets of KGBT-TV in Harlingen, Texas , to Nexstar Media Group for $ 60 million on January 27, 2020. The company's founder, Perry Sook, had once been

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2398-980: A spun-off joint venture between LIN Media and Fox Television Stations . The providers were merged to form Lakana, led by former ETG CEO Phillip Hyun. On October 23, 2014, Nexstar bought out KASW in Phoenix from SagamoreHill Broadcasting and Meredith Corporation , and it was completed on January 30, 2015. On February 2, 2015, Nexstar finalized its acquisition of Yashi , a location-focused, video-advertising and programmatic-technology company, for $ 33 million. On November 17, 2015, Nexstar announced its intent to purchase West Virginia Media Holdings ' stations ( WOWK-TV in Charleston, WBOY-TV in Clarksburg, WVNS-TV in Ghent, and WTRF-TV in Wheeling) for $ 130 million. The company took over

2507-420: A subsidiary, McCormick-Patterson. The company entered broadcasting in 1924 by leasing WDAP, one of Chicago's first radio stations. Tribune later changed the station's call letters to WGN , reflecting the Tribune ' s nickname, "World's Greatest Newspaper." WGN was purchased by the company in 1926 and went on to become prominent in the radio industry. In 1925, the company completed its new headquarters,

2616-434: A total equivalent of $ 14.50 per share. Nexstar's offer was seen by analysts as a maneuver to torpedo the merger of Media General with Meredith Corporation (announced on September 8). If Media General agreed to the counteroffer within a 20-day period, Nexstar would expand its portfolio to 114 television stations, pending spinoffs in markets where both own stations and federal approval. On November 16, Media General rejected

2725-542: Is the largest television station owner in the United States, owning 197 television stations across the U.S., most of which are affiliated with the four "major" U.S. television networks and MyNetworkTV in markets as large as New York City and as small as San Angelo, Texas . It also operates all of the stations owned by affiliated companies, such as Mission Broadcasting and Vaughan Media , under local marketing agreements to satisfy existing regulations set in place by

2834-577: The Sun-Times began publishing at the same time. Initially, both papers were handed out for free by " hawkers " on street corners, usually with one vendor from each paper directly next to each other. After about six months of the free papers, both companies placed vending boxes throughout the city with the papers thereafter costing 25 cents. At the end of 2005, the Sun-Times discontinued Red Streak . According to Sun-Times publisher John Cruickshank, Red Streak

2943-523: The Chicago Tribune ' s RedEye edition in 2003, followed by an investment in AM New York . That same year, Tribune pushed for the FCC to loosen its regulations barring cross-ownership of newspapers and broadcast outlets (television and/or radio) in a single market. Tribune would have to sell either a newspaper or television station in Los Angeles, New York City and Hartford while its combination of

3052-716: The Chicago Tribune , the Fort Lauderdale Sun-Sentinel , the Orlando Sentinel and the Daily Press . Tribune also set up its Tribune Ventures division to acquire stakes in newer media businesses. During the middle of that year, Tribune Ventures purchased interests in companies such as AOL (owning 4%), electronic payment specialist CheckFree Corporation (owning 5%), search engine company Excite , Inc. (owning 7%), Mercury Mail, Inc. (owning 13%), Open Market , Inc. (owning 6%), and Peapod LP (owning 13%). Also that year,

3161-692: The Federal Communications Commission . In addition, Nexstar owns one radio station, WGN in Chicago , and operates major TV network the CW through a 75-percent majority stake where all CW affiliates are directly owned-and-operated stations (O&O), two terrestrial television networks airing classic shows, Antenna TV and Rewind TV , one FAST streaming channel airing sports programming, SportsGrid , and has full or partial ownership stakes in three pay television networks (cable news and entertainment network NewsNation and food and cooking networks Food Network and Cooking Channel ,

3270-671: The Meredith Corporation in exchange for KCPQ-TV in Seattle in March 1999. Later that year, the station purchased WEWB in Albany, New York and WBDC in Washington, D.C. Tribune Interactive, Inc. was incorporated to handle all the various websites for its publishing, television and radio, and newspaper properties. During the 1999 fiscal year, Tribune racked up $ 1.47 billion in profits on total revenues of $ 2.92 billion, in part from gains made on

3379-634: The New York Daily News saw multiple employee strikes. In 1980, the Daily News added an afternoon edition to go head-to-head with the New York Post ; this expansion failed, with the newspaper reverting to once-daily editions with the end of the afternoon edition in 1981. Also that year, the Independent Network News , an evening newscast intended for independent stations, was launched as

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3488-707: The Orlando Sentinel and Time Warner Cable joined together to create the Orlando-based local cable news channel, Central Florida News 13 . Tribune also purchased a 31% stake in the Food Network . The company began the 1990s with six television stations, but changes to federal radio and television ownership regulations allowed Tribune to expand its television station holdings over the next decade. Tribune Broadcasting purchased ten additional stations by 1997, six of them acquired through that year's purchase of Renaissance Broadcasting for $ 1.1 billion in cash. Tribune purchased

3597-676: The Raycom Media / Gray Television merger. In spring 2019, Nexstar launched Border Report , a website focusing on news stories from the Mexico–United States border . On November 5, 2019, it was announced that Nexstar would acquire Fox Television Stations -owned WJZY and MyNetworkTV outlet WMYT-TV in Charlotte, North Carolina for $ 45 million. In turn, it also announced that it would sell its duopoly of Seattle -based KCPQ and KZJO (along with Milwaukee -based WITI ) to FTS in

3706-656: The Sun-Sentinel and WBZL-TV in Miami / Fort Lauderdale, Florida was given a temporary waiver. The FCC granted waivers for the other newspaper-television combinations in June 2003. In 2006, Tribune acquired 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. Tribune's partnership in The WB ended in 2006, when

3815-559: The Tribune Tower . That same year, the company decided to fund the future Joseph Medill School of Journalism at Northwestern University . Liberty magazine eventually exceeded Collier's circulation, but lacked sufficient advertising and was sold in 1931. The Tribune's European edition was also cut. However, Tribune launched the Chicago Tribune-New York News Syndicate content syndication service in 1933. With

3924-576: The United States Department of Justice approved the deal between Nexstar Media Group and Tribune Media. The merger was approved by the FCC on September 16, and would be consummated three days later. On January 15, 2020, Nexstar announced a national newscast called NewsNation on WGN America . The program launched September 1, 2020. On March 1, 2021, the WGN America channel was renamed NewsNation . On October 22, 2020, Nexstar underwent

4033-552: The "most viewed" category on the South Florida Sun-Sentinel ' s website. Google News index's next pass found the link as new news. Income Security Advisors found the Google result to be new news, which was passed along to Bloomberg News where it became a headline (Tribune, which owns both papers, noted that one click on a story in non-peak hours could flag an article as "most viewed" ). On December 8, 2008, faced with

4142-528: The FCC's 39% market share cap), which had been removed by Tom Wheeler during the final months of the Obama administration . The stocks of both companies rose in value in the wake of these rumors. As was expected, the FCC reinstated the UHF discount; under adjusted calculations, the two companies only had a combined market share of 42%, meaning that the combined company would be required to divest stations in order to stay below

4251-653: The FCC's market cap of 39-percent of TV households and making it the largest owner of television stations in the United States. Nexstar planned to divest some stations and "non-core" assets as part of the merger. On March 20, 2019, Nexstar announced that it would divest 19 stations to the E. W. Scripps Company and Tegna Inc. for a total sum of $ 1.32 billion, with Scripps receiving eight stations ( WPIX , WSFL-TV , WTKR and WGNT , WTVR-TV , WXMI , KSTU , and KASW ), and Tegna eleven ( WATN-TV and WLMT , WTIC-TV and WCCT-TV , WOI-DT and KCWI , WNEP , WPMT , WQAD-TV , WZDX , and KFSM-TV ). Of those stations, only WPIX

4360-567: The FCC; the purchase, which was closed on September 2, created a duopoly with Nexstar's Fox affiliate KSWB-TV , and is set to replace KFMB-DT2 as San Diego's CW station. Between June 14 to August 31, Nexstar announced that it would convert MyNetworkTV affiliates in the displaced Philadelphia, San Francisco, and Tampa Bay markets ( WPHL-TV , KRON-TV , and WTTA , respectively) into CW stations, and signed several CW affiliation renewals (such as that with Gray, whose Atlanta-based WPCH-TV station would replace WUPA as that city's CW affiliate) to cover

4469-513: The Fox affiliation in the Springfield, Missouri market. In July 2012, Nexstar agreed to purchase eleven stations and Inergize Digital Media from Newport Television , with two stations going to affiliate Mission Broadcasting. On August 12, 2012, Nexstar sold KBTV-TV to Deerfield Media , which entered into a JSA and SSA with Sinclair Broadcast Group to become a duopoly with KFDM-TV . On April 24, 2013, Nexstar announced that it would acquire

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4578-484: The Fox affiliation then moved to a digital subchannel of CBS affiliate WTHI-TV which also added MyNetworkTV as a secondary affiliation. Nexstar's remaining Fox affiliates have since signed a renewal agreement through December 2013; In addition, following the settlement of Nexstar's antitrust lawsuit against WISE-TV's then-owner Granite Broadcasting , WFFT-TV reclaimed the Fox affiliation on March 1, 2013. Nexstar would purchase KRBK in late 2018, restoring its ownership of

4687-1119: The Roanoke and Lafayette stations are required as Media General and Nexstar both own stations in those markets). On June 3, 2016, it was announced that Nexstar would spin off WBAY-TV in Green Bay , Wisconsin and KWQC-TV in Davenport , Iowa to Gray Television for $ 270 million. On June 13, 2016, Nexstar announced that it would sell WFFT in Fort Wayne , Indiana ; KQTV in St. Joseph , Missouri ; KIMT in Rochester , Minnesota ; WTHI-TV in Terre Haute ; and WLFI in Lafayette, Indiana to Heartland Media , through its USA Television MidAmerica Holdings joint venture with MSouth Equity Partners, for $ 115 million. The divestitures were in order to allow Nexstar to comply with FCC ownership rules (specifically pertaining to national market coverage for station owners) in advance of

4796-682: The Sentinel-Star Company, owners of the Orlando Sentinel , in 1965. Also in 1963, the company purchased part of the defunct New York Mirror . The company increased its broadcast holdings with the acquisition of radio station WQCD-FM in New York City in 1964 and independent television station KWGN-TV in Denver in 1965. In 1967, the company began printing a tabloid serving suburban areas of Chicago, The Suburban Trib . The corporation

4905-451: The Tribune Company and McClatchy. The company stopped publishing the tabloid Chicago Today in 1974; the Tribune also began publishing all-day editions. An approval of changes to the Tribune bylaws in 1974 triggered a lawsuit by shareholders who saw this as a move towards taking the company public. The lawsuit by Josephine Albright – Joseph Patterson's daughter – and her son, Joseph Albright,

5014-706: The approval proceedings of the merger of both groups (Nexstar already owned NBC affiliate WTWO and operates ABC affiliate WAWV-TV in Terre Haute, and planned to acquire Media General-owned CBS affiliate WANE-TV in Fort Wayne). On June 30, 2016, Nexstar announced that it would sell KASA-TV in Santa Fe , to Ramar Communications, owner of Telemundo affiliate KTEL-CD (channel 15), Movies! affiliate KUPT-LD (channel 16), and MeTV affiliate KRTN-LD (channel 33), for $ 2.5 million. KASA and KRQE were both ranked among

5123-403: The cable network from a superstation in 2014. In 2016, Tribune Media sold off real estate properties to net $ 409 million while authorizing $ 400 million in share repurchasing. In December 2016, Tribune Media sold Gracenote to Nielsen Holdings for $ 560 million; Tribune planned to use the sale to pay down a debt of $ 3.5 billion. Cash on hand was expected to pay out $ 500 million in dividends in

5232-444: The cap. However, there was only an 11% market overlap between Tribune and Sinclair's stations. On April 30, 2017, The Wall Street Journal reported that there were competing bids for Tribune from a partnership between 21st Century Fox and private equity firm Blackstone Group (under which Fox would contribute its existing station group into a joint venture with Blackstone), and Nexstar Media Group . The Fox/Blackstone deal

5341-463: The company began sharing stories among 25 subscribers via the newly formed news service , the Knight News Wire. By 1990, this service was known as KRT (Knight-Ridder/Tribune) and provided graphics, photo and news content to its member newspapers. When The McClatchy Company purchased Knight-Ridder Inc. in 2006, KRT became MCT (McClatchy-Tribune Information Services), which was jointly owned by

5450-551: The company had a 31% share. Prior to the August 2014 spin-off of the company's publishing division into Tribune Publishing , Tribune Media was the nation's second-largest newspaper publisher behind the Gannett Company , with ten daily newspapers, including the Chicago Tribune , Los Angeles Times , Orlando Sentinel , Sun-Sentinel and The Baltimore Sun , and several commuter tabloids . In 2007, investors bought

5559-553: The company's radio stations; this left its one-time radio flagship WGN (AM) in Chicago as the company's sole remaining radio station. Tribune Publishing purchased the monthly lifestyle publication Chicago from Primedia , Inc. in August 2002. Hoy , a Spanish language newspaper owned by the company, expanded with the launch of local editions in Chicago (in September 2003) and Los Angeles (in March 2004). Tribune also launched daily newspapers targeting younger urban commuters, including

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5668-527: The company's second newspaper, the New York News in 1919. Tribune's ownership of the New York City tabloid was considered "interlocking" due to an agreement between McCormick and Patterson. The paper launched a European edition during World War I . To compete with the Saturday Evening Post and Collier's in 1924, the Tribune Company launched a weekly national magazine, Liberty , run by

5777-573: The company's second syndicated television program, originating from WPIX . The New York Daily News was put up for sale in 1981, but a proposed deal fell through by 1982. In August of that year, Tribune purchased the Chicago Cubs Major League Baseball team from William Wrigley III . In 1981, all of Tribune's television stations, which were previously under the WGN Continental Broadcasting unit, were placed under

5886-500: The company's stock began trading on the New York Stock Exchange under the symbol TRCO. On February 26, 2013, it was reported that Tribune hired investment firms Evercore Partners and J.P. Morgan to oversee the sale of its newspapers. On July 1, 2013, Tribune announced that it would purchase the 19 television stations owned by Local TV, LLC outright for $ 2.75 billion. The FCC approved the acquisition on December 20, and

5995-488: The company's subsidiary Tribune Broadcasting Company . The following year, Tribune formed the Tribune Entertainment Company as a production subsidiary to produce the company's existing syndicated programs including the U.S. Farm Report , as well as newer shows. In 1983, The Suburban Trib was replaced by zone editions of the Chicago Tribune . That October, the Tribune Company became a public firm, with

6104-494: The company's value to shareholders, which include a possible sale of the entire company and/or select assets, or the formation of programming alliances or strategic partnerships with other companies, due to the decrease in its stock price since the Tribune Publishing spin-off and a $ 385 million revenue write-down for the 2015 fiscal year, partly due to original scripted programming expenditures for WGN America since it converted

6213-724: The company, taking on substantial debt. The subsequent 2008 bankruptcy of Tribune Company was the largest bankruptcy in the history of the American media industry. In December 2012 the Tribune Co. emerged from bankruptcy. Tribune announced its sale to Hunt Valley, Maryland -based Sinclair Broadcast Group on May 8, 2017, but on August 9, 2018, Tribune cancelled the sale and sued Sinclair for breach of contract. On December 3, 2018, Nexstar Media Group announced that it would merge with Tribune Media for $ 4.1 billion. Within Nexstar, Tribune Media remains

6322-400: The company, was removed and replaced by an executive council. The New York Times had reported earlier in the month about his "outlandish, often sexual behavior" that he also exercised in his previous job at Clear Channel Communications . On July 13, 2012, the Tribune Company received approval of a reorganization plan to allow the company to emerge from Chapter 11 bankruptcy protection in

6431-466: The deal was completed on March 13. KCAU continued to use Citadel's standardized news sets, graphics and logos. On November 6, 2013, Nexstar announced that it would purchase the Grant Broadcasting stations for $ 87.5 million. Due to Federal Communications Commission ownership regulations, one of the stations, KLJB , was spun off to Marshall Broadcasting Group , but is operated by Nexstar through

6540-679: The deal. The Federal Communications Commission (FCC) gave final approval of the group deal on December 21, and the Sinclair purchase of the Four Points stations was completed on January 1, 2012. In 2011, Nexstar and Fox entered into a dispute over terms of reverse compensation ; this occurred as Fox began to aggressively seek shares of earnings from retransmission consent agreements with cable and satellite operators as part of affiliation agreement renewals between station groups with affiliates whose affiliation contracts had already expired (and carrying

6649-608: The death of Joe Patterson's sister and owner of the Washington Times-Herald , Eleanor (Cissy) Patterson, in 1948, the Tribune Company purchased the paper and operated it until 1954, when the Times-Herald was absorbed by The Washington Post . Expecting a printer's strike in November 1948, the Tribune printed their paper early, mistakenly proclaiming " Dewey Defeats Truman " in the 1948 presidential election . Tribune entered

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6758-408: The divestiture of stations to a minority-owned broadcaster as a token to gain FCC approval for the associated acquisitions. A carriage dispute with AT&T resulted in the removal of more than 120 Nexstar stations across 97 markets from AT&T's DirecTV , DirecTV Now and U-verse platforms, which began at 11:59 p.m. on July 3, 2019, and ended on August 29, 2019. On August 1, 2019,

6867-582: The entire group of Communications Corporation of America , KMSS-TV , KPEJ-TV , and most of the ComCorp-managed stations that are owned by White Knight Broadcasting would be sold to Mission Broadcasting while WEVV-TV and White Knight Broadcasting's KSHV-TV would be sold to a female-controlled company called Rocky Creek Communications, with Nexstar assuming operational control of those stations. On September 16, 2013, Nexstar announced that it would acquire WOI-DT , KCAU-TV , and WHBF-TV from Citadel Communications for $ 88 million. Nexstar immediately took over

6976-428: The first quarter of 2017. In January 2017, Tribune Media announced that Peter Liguori would step down as President and CEO in March. On April 20, 2017, Bloomberg reported that Sinclair Broadcast Group was considering acquiring Tribune Media, contingent on plans by the FCC's new chairman, Ajit Pai , to reinstate the " UHF discount " (a policy which makes UHF stations only count half of their total audience towards

7085-407: The intent to take 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 termination of trading in Tribune stock at the close of the trading day. On December 21, 2007, Tribune and Oak Hill Capital Partners -controlled Local TV, LLC announced plans to collaborate in the formation of

7194-408: The largest bankruptcy in the history of the American media industry. On October 27, 2009, Thomas S. Ricketts purchased a majority ownership (95%) of the Chicago Cubs. The sale also included Wrigley Field and a 25% ownership stake in Comcast SportsNet Chicago , as part of a deal designed to help Tribune restructure. In October 2010, Randy Michaels , who was appointed CEO after Zell's purchase of

7303-589: The latter two through a 31-percent stake in Television Food Network G.P. ). Nexstar Media Group was founded as Nexstar Broadcasting Group on June 17, 1996, initially backed by ABRY Partners. The first television station bought by Nexstar was WYOU in Scranton, Pennsylvania . Nexstar bought WYOU from Diversified Communications . The sale was completed on September 28 of that year. Nexstar promptly fired two beloved anchors and laid off several long-term staff members. Nexstar founder Perry Sook said that WYOU would be Nexstar's flagship station, keeping an office off

7412-451: The license holder for all of the former Tribune stations retained directly by Nexstar after the Nexstar acquisition. The largest broadcast merger in U.S. history was approved in 2019. The Tribune Company was founded on June 10, 1847 when the eponymous Chicago Daily Tribune published its first edition in a one-room plant located at LaSalle and Lake Streets in downtown Chicago. The original press run consisted of 400 copies printed on

7521-438: The licensee rights of WLYH-TV from SJL Broadcasting for $ 56 million. On March 20, 2009, Nexstar operated television stations that were owned by Four Points Media Group through an outsourcing agreement. However, on September 8, 2011, Sinclair Broadcast Group announced its intent to purchase the Four Points stations outright and took over the MSA for the stations that October upon Federal Trade Commission (FTC) approval of

7630-444: The national advertising sales organization of Tribune Publishing , was established in 2000 to take advantage of the company's expanded scale and scope. By 2001, revenues had grown to $ 5.25 billion. However, Tribune needed to pay down some of the debt that it accrued through the Times Mirror purchase; as a result, Tribune moved to sell various non-newspaper holdings operated by Times Mirror. Flight information provider Jeppesen Sanderson

7739-433: The network was shut down – along with CBS Corporation -owned UPN – to create The CW Television Network , which was a joint venture between CBS and Warner Bros . and affiliated with several Tribune-owned stations; Tribune did not maintain an ownership interest in the network. On April 2, 2007, Chicago-based investor Sam Zell announced plans to buy out the Tribune Company for $ 34.00 a share, totalling $ 8.2 billion, with

7848-439: The network's programming without a contractual agreement) or were near expiration. Reportedly, the amount from retransmission consent fees from cable and satellite operators that Fox wanted its affiliates to pay the network would be 25 cents per subscriber during the first year of the affiliation agreement, increasing to 50 cents by the fourth year. President of affiliate sales and marketing for Fox, Mike Hopkins, had said earlier in

7957-434: The network; such right was announced on May 5, 2023, when the aforementioned stations would become independent on September 1. Nexstar responded to the move by stating that it would find replacement CW affiliates, noting that "Paramount's decision affects a limited portion of The CW's nationwide reach." The company announced on May 8 that it would buy KUSI-TV from McKinnon Broadcasting for $ 35 million, pending approval from

8066-552: 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 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. Patterson established

8175-590: The newspaper industry, effectively doubling the size of Tribune's newspaper holdings. The Times Mirror merger added seven daily newspapers to Tribune's existing publishing properties, including the Los Angeles Times , the Long Island -based Newsday , The Baltimore Sun and the Hartford Courant . Through the deal, Tribune became the only media company that owned both newspapers and television stations in

8284-408: The newspapers that were part of its publishing division into a separate company. Its broadcasting, digital media and other assets (including Tribune Media Services , which among others, provides news and features content for Tribune's newspapers) would remain with the Tribune Company. The split came in the footsteps of similar spin-outs by News Corporation and Time Warner , which sought to improve

8393-713: The newsroom for years. In 1998, Nexstar purchased WBRE-TV in Wilkes-Barre , Pennsylvania . Because this was in the same market as WYOU, WYOU was 'sold' to Mission Broadcasting. This began the first-ever 'shared-services' agreement between stations. WYOU's sales staff was kept in Scranton, while the production and news operations were moved to WBRE's offices in Wilkes-Barre. WYOU staff who were not laid off were fired by Nexstar, hired by Mission, and eventually rehired by Nexstar. Mission Broadcasting then paid Nexstar to operate and control

8502-528: The offer but agreed to negotiate after concluding its merge with Meredith. On January 27, 2016, Media General announced that it had entered into a definitive agreement to be acquired by Nexstar in a deal valued at $ 17.14 per share, valuing the company at $ 4.6 billion plus the assumption of $ 2.3 billion debt. The combined company became known as Nexstar Media Group, and owns 171 stations, serving an estimated 39-percent of U.S. households. The company paid Meredith Corporation (whom Media General had previously proposed

8611-431: The only Nexstar station thus far to affiliate with another network following the removal of the Fox affiliation) as part of a long-term renewal agreement between Nexstar and ABC for the group's nine existing ABC stations, reversing a 1995 switch that saw Terre Haute losing over-the-air carriage of ABC programs (since then, ABC has been seen in the market via Indianapolis affiliate WRTV on area cable and satellite providers);

8720-437: The ownership cap. On November 14, 2018, after Tribune cancelled its proposed sale to Sinclair, it was reported that Nexstar was a leading bidder to acquire Tribune. On December 3, 2018, Nexstar announced its intent to merge with Tribune Media for $ 6.4 billion ($ 4.1 billion for all of Tribune's shares in cash and $ 2.3 billion of Tribune's debt). The merger would give the company 216 stations in 118 markets, placing it just below

8829-720: The production and news-gathering operations while Mission kept the sales and management team. In 1997, Nexstar acquired WJET-TV in Erie, Pennsylvania , from Jet Broadcasting, for which it paid $ 18.5 million. On January 12, 1998, Nexstar acquired three stations owned by the U.S. Broadcast Group, including KFDX-TV , KBTV-TV , and KSNF , for $ 64.3 million. In 1999, Nexstar bought out WROC-TV in Rochester, New York , from Smith Broadcasting . In 2003, Nexstar acquired Quorum Broadcasting, owner of ten television stations. Also that year, it purchased KARK-TV and WDHN-TV from Morris Multimedia . In 2006, Nexstar bought out WTAJ-TV and

8938-505: The profitability of their properties by separating them from the struggling print industry. On November 20, 2013, Tribune announced it would cut 700 jobs in its newspaper operations, citing falling advertising revenue. The split was finalized on August 4, 2014, with the publishing arm being spun out as Tribune Publishing , and the remainder of the company renamed Tribune Media . On February 29, 2016, Tribune Media announced that it would review various "strategic alternatives" to increase

9047-478: The purchase of KTLA, Tribune became the fourth largest television station owner in the United States, behind the three major broadcast networks . The company acquired Newport News, Virginia newspaper, the Daily Press in 1986, but sold off the newspaper's co-owned cable television operations. To counteract a possible hostile corporate takeover in 1987, the Tribune Company developed a plan that allowed shareholders

9156-556: The remaining displaced markets. Nexstar implemented a blackout on its stations from DirecTV, U-verse and DirecTV Stream on July 2, 2023, causing DirecTV to complain to the FCC. Nexstar responded to DirecTV's complaint by stating that DirecTV was streaming Nexstar stations after the contract expired in November 2022. Nexstar and DirecTV renewed their contract on September 17, 2023. On May 19, 2023, Ray Cole, COO of Citadel Communications , announced that WSNN-LD in Sarasota, Florida ,

9265-504: The right to purchase additional preferred shares from a new series of stock in the event that a buyer acquired 10% of the company's common stock or a tender offer for the company. Shareholders also ratified a two-for-one stock split. Tribune Entertainment experienced success in 1987 with the launch of the syndicated daytime talk show Geraldo . In 1988, Tribune purchased five weekly papers based in Santa Clara County, California . In

9374-474: The sale and cover debt. On April 8, 2019, Nexstar announced that it would sell 2 additional stations ( WISH-TV and WNDY ) to Circle City Broadcasting for $ 42.5 million. On April 3, 2019, Marshall Broadcasting Group sued Nexstar for breach of contract, alleging that the company was trying to "undermine" its operations so it could buy back the stations at a later date and lower cost in the present regulatory environment. The company also accused Nexstar of using

9483-673: The sale of Tribune Studios and related real estate in Los Angeles to private equity firm Hudson Capital, LLC, for $ 125 million. The parties also agreed to a five-year lease allowing its television station in the city, KTLA, to continue operating at the location through 2012. On April 28, 2008, Tribune completed an acquisition of real estate from TMCT Partnership. On July 29, 2008, Cablevision Systems Corporation completed its purchase of Newsday from Tribune. On September 8, 2008, United Airlines lost (and almost regained) $ 1 billion in market value when an archived Chicago Tribune article from 2002 about United filing for bankruptcy appeared in

9592-486: The sale of 7.7 million shares at $ 26.75 a share. In 1985, Tribune Broadcasting acquired Los Angeles independent station KTLA from Kohlberg Kravis Roberts for a record $ 510 million. Because of the Federal Communications Commission 's media cross-ownership regulations, which prohibit the ownership of a television station and newspaper in the same market, Tribune was forced to sell the Los Angeles Daily News . With

9701-543: The sale of some of its internet investments. In February 2000, Tribune acquired the remaining 67% interest in Qwest Broadcasting for $ 107 million, effectively adding two more stations to its roster, increasing its reach 27% of the country. In June 2000, Tribune acquired the Los Angeles–based Times Mirror Company in a US$ 8.3 billion merger transaction, the largest acquisition in the history of

9810-410: The sale was completed one week later on December 27. Tribune later announced its return to television production on March 19, 2013, with the relaunch of the production and distribution division as Tribune Studios (not to be confused with the former name of Los Angeles studio facility Sunset Bronson Studios ). On July 10, 2013, Tribune announced that it would split into two companies, spinning off

9919-718: The sales of five stations. WCWJ in Jacksonville , Florida , along with WSLS-TV in Roanoke , Virginia , was sold to the Graham Media Group ; and KADN-TV , as well as KLAF-LD in Lafayette , Louisiana , was sold to Bayou City Broadcasting , with KREG-TV in Glenwood Springs , Colorado going to Marquee Broadcasting as part of a series of divestitures required following Nexstar's acquisition of Media General due to Federal Communications Commission ownership caps (the sale of

10028-933: The start of October 2022, in order to complete the transaction; thus, Nexstar took over operations of the network on August 15. The transaction was completed on October 3. Following Nexstar's purchase of the CW, Paramount's CBS News and Stations division was given the right to have its eight CW stations ( WPSG in Philadelphia , WUPA in Atlanta , KBCW in San Francisco , KSTW in Seattle , WTOG in Tampa Bay , WKBD in Detroit , KMAX in Sacramento , and WPCW in Pittsburgh ) disaffiliate from

10137-967: The stations' non-license assets under a time brokerage agreement in December 2015 pending the formal completion of the deal, expected in late 2016. The two companies viewed the acquisition as being a complement to Nexstar's WHAG-TV , whose coverage area includes the Eastern Panhandle region. Nexstar CEO Perry A. Sook is an alumnus of WOWK. The sale was completed on January 31, 2017. On August 1, 2018, Nexstar bought out KRBK in Springfield from Koplar Communications for $ 16.45 million, and also bought out WHDF in Huntsville from Lockwood Broadcast Group for $ 2.25 million. On November 1, 2018, Nexstar bought out MyNetworkTV affiliate KFVE in Honolulu from American Spirit Media as part of transactions requiring from

10246-451: The stations' operations through a time brokerage agreement . The deal followed Phil Lombardo's decision to "slow down," as well as a desire by Lynch Entertainment to divest its investments in WOI and WHBF; Citadel would continue to own KLKN , WLNE-TV , and its Sarasota properties. On March 5, 2014, the Federal Communications Commission approved the sale of these stations to Nexstar outright and

10355-680: The television industry then in its infancy, in 1948, with the establishment of WGN-TV in Chicago in April and WPIX in New York City in June of that year. In 1956, the Tribune Company purchased the Chicago American from William Randolph Hearst . In the 1960s, the company entered the booming Florida market, acquiring the Fort Lauderdale -based Gore Newspapers Company, owner of the Pompano -based Sun-Sentinel and Fort Lauderdale News in 1963 and

10464-401: The three largest media markets of New York City, Los Angeles and Chicago , as a result of cross-ownership waivers that were approved by the FCC. Among other advantages from the merger, including various economies of scale, Tribune's newspapers could now effectively compete for national advertising, as it has grown to become the third largest newspaper group in the country. Tribune Media Net,

10573-480: The top four stations in the Albuquerque market during the November 2015 sweeps period, which meant that the company had to divest one of the two stations to comply with the FCC duopoly rules. The transaction was approved by the FCC on January 11, 2017, and the sale was completed on January 17. On April 30, 2017, The Wall Street Journal reported that there were competing bids for Tribune Media from Nexstar and

10682-542: The wake of a dispute with some of its labor unions, Tribune sold the Daily News to British businessman Robert Maxwell in 1991. With changes in the media industry due to greater public access to the internet in the 1990s, Tribune Publishing began to sell off some of its newspaper properties. Tribune Broadcasting steadily acquired additional stations during the decade, while Tribune itself launched two new divisions, Tribune Ventures and Tribune Education. In 1993, Tribune Broadcasting launched Chicagoland Television (CLTV),

10791-555: The year that the network would consider moving its affiliation to another market station as a last resort if existing affiliates did not agree to the terms for reverse compensation retrans sharing. Fox dropped its affiliation from Nexstar-owned/managed stations in four markets, with three of the replacement stations adding Fox in addition to existing affiliations with the MyNetworkTV programming service (owned by Fox parent company News Corporation ). In Indiana, two markets saw Fox go from

10900-525: Was a potential leading buyer of the CW, as the network's then-co-owners ViacomCBS (now known as Paramount Global ) and WarnerMedia (since spun-off from AT&T and merged with Discovery, Inc. to form Warner Bros. Discovery ) explored options in selling a majority stake in the joint venture network; the three companies had yet to comment on the WSJ report. In late August, as confirmation to another WSJ report made last June, Nexstar announced that it has "entered

11009-524: Was being proposed as a defensive measure, due to concerns by 21st Century Fox over the number of Fox-affiliated stations Sinclair would control if it acquired Tribune Media. However, The New York Times reported that Fox had not actually made a formal bid for Tribune Media. Nexstar Media Group Nexstar Media Group, Inc. is an American publicly traded media company with headquarters in Irving, Texas , Midtown Manhattan , and Chicago . The company

11118-520: Was dismissed in 1979. The Tribune Company entered first-run television syndication in 1975 with the debut of the U.S. Farm Report . The Times-Advocate in Escondido, California was purchased by the company in 1977. In October 1978, United Video Satellite Group uplinked WGN-TV's signal to satellite , becoming a national " superstation ", joining the ranks of WTCG (later WTBS, now WPCH-TV ) in Atlanta and WWOR-TV in New York City. During 1978,

11227-547: Was not associated with a duopoly, but rather its market size (an outright acquisition under current FCC rules would cause Nexstar to exceed the 39 percent cap). The transaction involving WPIX included a $ 75 million option condition allowing Nexstar to buy WPIX back between March 31, 2020, and the end of 2021. In the summer of 2020, the option was transferred to Mission Broadcasting (whose station acquisitions are largely funded by Nexstar) and exercised shortly thereafter. Nexstar stated that these divestitures would be used to help fund

11336-411: Was one of the largest television broadcasting companies, owning 39 television stations across the United States and operating three additional stations through local marketing agreements . It owned national basic cable channel/ superstation WGN America , regional cable news channel Chicagoland Television (CLTV) and Chicago radio station WGN . Investment interests include the Food Network , in which

11445-409: Was only launched "to stop [the Tribune ] from gaining a foothold in the paid tabloid market". Its only purpose was to undermine RedEye' s attempt at drawing commuters, customers which have historically belonged to the Sun-Times . At the beginning of 2006, RedEye became a free paper once again, with vending boxes being unlocked and coin slots covered over. In February 2007, after NewsCorp launched

11554-572: Was purchasing BestReviews from Tribune Publishing for $ 160 million. On May 20, 2021, the CW network and Nexstar announced that they have reached multi-year agreements to renew network affiliation for the CW in 37 markets in across the country (including KTLA in Los Angeles and WDCW in Washington, D.C. ). On August 20, 2021, Nexstar acquired political news website The Hill for $ 130 million. On August 25, 2021, Nexstar Media Group announced

11663-464: Was reorganized in 1968 by reincorporating under Delaware 's General Corporation Law , ending its Illinois incorporation, splitting its stock by four for one and forming a separate subsidiary of the Chicago Tribune . The 1970s brought another decade of acquisitions for the company including the purchase of a Los Angeles shopper in 1973, which became the Los Angeles Daily News . In 1973,

11772-582: Was sold to Boeing for $ 1.5 billion in October 2000. Also in October, the Institute for International Research purchased AchieveGlobal, a consulting and training firm for $ 100 million. Times Mirror Magazines was sold to Time, Inc. in November of that year for $ 475 million. Tribune divested its Tribune Education division to The McGraw-Hill Companies for $ 686 million in September 2000. After all these sales, Tribune still had $ 4 billion in long-term debt. Tribune started

11881-505: Was the number one publisher of supplemental education materials. Tribune Education acquired an 80.5% stake in mass market children's book publisher Landoll in 1997. In June 1998, Tribune entered into a trade with Emmis Communications to swap WQCD-FM to the latter company, in exchange for acquiring two Emmis-owned television stations ( WXMI in Grand Rapids, Michigan and KTZZ in Seattle , Washington ). It later traded WGNX in Atlanta to

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