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Keyword: tribune

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  • Chicago Tribune newsroom departures (Dinosaur Media DeathWatch™)

    08/15/2008 2:20:57 PM PDT · by abb · 8 replies · 196+ views
    Poynter Online ^ | August 15, 2008 | Gerould W. Kern
    From: Kern, Gerould W. Sent: Friday, August 15, 2008 1:02 PM To: zzCTC.ALLEDITORIAL Subject: Today's Chicago Tribune newsroom staff departures To the staff: Today is a difficult day in the Chicago Tribune newsroom as we are completing the second part of our reduction in force. Colleagues who are leaving today gave many years of service to this newspaper and forged lasting friendships and associations here. Endings are never easy. We thank them for their dedication and contributions to the success of the Chicago Tribune over their careers. We wish them only the best in the future. On July 25, Bob...
  • Asset write-down sends Tribune (LA Times, et al)to $4.5 billion loss (Dinosaur Media DeathWatch™)

    08/13/2008 1:08:33 PM PDT · by abb · 14 replies · 327+ views ^ | August 13, 2008 | David B. Wilkerson
    Privately held Tribune Co. Wednesday reported a $4.5 billion loss in the second quarter, largely on a charge reflecting a decrease in the value of its assets, and said advertising revenue at its newspapers dropped 15%. Tribune has endured numerous financial difficulties since it was acquired by real-estate developer Sam Zell in an $8.2 billion deal that took the business private. The financing of his transaction involved the creation of an employee stock program that has incurred a significant amount of debt. The company lost $4.53 billion in the latest three months, including a $3.8 billion charge on a decrease...
  • New Poll: (Pew Research) Obama 46% McCain 43% (Mac closes gap over last 2 Pew polls)

    08/13/2008 10:55:51 AM PDT · by AirForceGeorge · 28 replies · 97+ views
    Pew Research ^ | 13 Aug, 2008 | Pew Research
    New Poll: (Pew Research) Obama 46% McCain 43% (Mac closes gap over last 2 Pew polls)
  • Sam Zell's Deal from Hell (Dinosaur Media DeathWatch™)

    07/30/2008 3:00:27 PM PDT · by abb · 38 replies · 387+ views
    Business Week ^ | July 30, 2008 | Emily Thornton, Michael Arndt and Ronald Grover
    The turnaround maven should have seen the problems ahead in the newspaper industry. His blind side may have cost Tribune Co. its very life "It's the deal from hell," says Sam Zell, never one to mince words. "And it will continue to be the deal from hell until we turn it around." Zell is talking, of course, about his $8.5 billion purchase of Tribune Co. in December 2007, a tran­saction that's shaping up to be one of the most disastrous the media world has ever seen. Zell is a real estate tycoon, and his plush office reflects his decades of...
  • Cuts needed, Tribune's Zell says, 'so we can survive' (Dinosaur Media DeathWatch™)

    07/23/2008 5:54:49 AM PDT · by abb · 21 replies · 295+ views
    Baltimore Sun ^ | July 23, 2008 | Lorraine Mirabella
    Real estate mogul Sam Zell, who took control of media giant Tribune Co. about six months ago, defended yesterday the staffing and page cuts under way at The Sun and its other newspapers as necessary in the worst advertising climate in decades. In a conference call with Tribune Co. reporters, Zell said reducing staff by as much as 25 percent in some newsrooms and shrinking and redesigning the company's newspapers were the only options to ensure short-term survival and to allow a longer-term reinvention of the American newspaper. "We're looking at some of the worst advertising numbers in the history...
  • L.A. Times Publisher David Hiller resigns (Dinosaur Media DeathWatch™)

    07/14/2008 12:35:55 PM PDT · by abb · 42 replies · 488+ views
    Los Angeles Times ^ | July 14, 2008 | Michael A. Hiltzik
    Los Angeles Times Publisher David Hiller resigned today after a 21-month tenure that included the departure of two Times editors and plans for the sharpest staff and production cuts in the newspaper's history amid a continuing slide in advertising revenue. Tribune Co. -- which owns The Times and other media assets, including the Chicago Tribune and KTLA-TV Channel 5, and the Chicago Cubs baseball team -- named no successor to Hiller. Hiller was the third Times publisher named since the newspaper was acquired in 2000 by Chicago-based Tribune. He succeeded Jeffrey M. Johnson, who lost his job after publicly resisting...
  • Chicago Tribune to cut 80 newsroom positions (Dinosaur Media DeathWatch™)

    07/08/2008 2:17:45 PM PDT · by abb · 18 replies · 253+ views
    Chicago Tribune ^ | July 8, 2008 | Phil Rosenthal
    The Chicago Tribune began informing staff Tuesday it will eliminate around 80 of its current 578 newsroom positions by the end of August and reduce the number of pages it publishes by 13 percent to 14 percent each week. There also will be a reduction of jobs in other Chicago Tribune departments, but that number was not immediately available. A paper spokesman declined comment. Because some newsroom jobs have been left unfilled in recent months, the actual number of staffers to exit the paper is expected to be between 55 and 58. "Like many newspapers, we're feeling financial pressures," Hanke...
  • Tribune receives $300 million loan (Dinosaur Media DeathWatch™)

    07/07/2008 9:09:20 AM PDT · by abb · 49 replies · 405+ views
    Variety ^ | July 3, 2008 | CYNTHIA LITTLETON
    On the heels of announcing steep layoffs at the Los Angeles Times, Tribune Co. said Thursday it had arranged a $300 million bank loan with Barclays Bank, most of which would be used to pay off part of an existing loan. The Barclays transaction was described as an “asset-backed commercial paper facility,” meaning it’s backed by accounts receivable money that Tribune is owed. The arrangement with Barclays allows Tribune to get a cash infusion pronto without having to wait for those bills to come due. Still, it’s a sign of the cash crunch at the debt-laden Chicago-based newspaper and TV...
  • Baltimore Sun announces downsizing plans (Dinosaur Media DeathWatch™)

    06/25/2008 1:12:22 PM PDT · by abb · 30 replies · 466+ views
    Poynter Online ^ | June 25, 2008 | Tim Ryan
    Date/Time: 6/25/2008 3:20:34 PM Title: Baltimore Sun announces downsizing plans Posted By: Jim Romenesko Memo from Baltimore Sun publisher Tim Ryan Sent: 6/25/2008 3:00 PM Subject: Organizational Update Dear Employees / Owners, The two key factors that will sustain our company for the future are customer satisfaction and financial stability. Achieving both goals is challenging in the very best of market conditions. In the face of today’s tough economy, adapting to consumer trends while maintaining our fiscal strength is proving to be even more difficult – yet even more critical. Our long-term strategy of going on offense and creating growth...
  • Tribune Tower could be put up for sale (Dinosaur Media DeathWatch™)

    06/25/2008 11:11:29 AM PDT · by abb · 17 replies · 227+ views
    Chicago Tribune ^ | June 25, 2008 | Phil Rosenthal
    Tribune Tower is in play. Tribune Co. Chairman Sam Zell told staff today the company is in discussions with "a number of real estate firms" to determine how to generate the most value from the neo-Gothic Michigan Avenue home of the flagship Chicago Tribune, an iconic bookend of the city's Magnificent Mile. The company is also weighing its strategic options concerning the Los Angeles Times' downtown Times Mirror Square complex, another high-profile real estate asset. "When we started this adventure together, I made a point of saying we would challenge traditional thinking, that there would be no sacred cows, and...
  • Tribune Tests New Design in Orlando (Dinosaur Media DeathWatch™)

    06/22/2008 6:20:44 PM PDT · by abb · 30 replies · 171+ views
    The Wall Street Journal ^ | June 23, 2008 | Shira Ovide
    The Orlando Sentinel landed on newsstands Sunday with a new layout featuring more graphics, quick-read digests of top news, blog summaries and other changes aimed at making the newspaper more appealing to harried readers. Orlando is a proving ground for Sam Zell's effort to reinvent floundering Tribune Co., owner of a string of television stations and newspapers, including the Sentinel, the Chicago Tribune and the Los Angeles Times. Between now and the end of September, Tribune plans to roll out redesigns at its papers. Accompanying the makeovers will be scaled-back page counts and further paring of employees. snip It remains...
  • (Chicago) Tribune staffers warned of drastic cuts ahead (Dinosaur Media DeathWatch™)

    06/20/2008 11:42:53 AM PDT · by abb · 14 replies · 360+ views
    Courier News ^ | June 20, 2008 | David Roeder
    The editor of the Chicago Tribune issued a memo Thursday to prepare her reporters and editors for drastic changes in content and painful reductions in staff. The memo from Editor Ann Marie Lipinski set out timetables for decisions leading to a "rethought and redesigned" Tribune promised in mid-September. Internal committees, she said, will evaluate which editorial matter to keep as the paper downsizes and, by mid-August, will recommend staffing levels. The paper is carrying out a directive from Tribune Co. owner Sam Zell to reduce costs. Declining revenues threaten Zell's ability to pay debt he took on for his leveraged...
  • Tribune Co. Plans Sharp Cutbacks at Papers (Dinosaur Media DeathWatch™)

    06/05/2008 9:13:55 PM PDT · by upchuck · 12 replies · 126+ views
    NY Slimes ^ | June 6, 2008 | RICHARD PÉREZ-PEÑA
    Tribune Company newspapers like The Los Angeles Times and The Chicago Tribune will quickly cut costs — by printing fewer papers and employing fewer journalists — top company executives said on Thursday. Samuel Zell, the chairman and chief executive of Tribune, and Randy Michaels, the company’s chief operating officer, revealed the cuts during a conference call with Wall Street analysts. They also said the struggling company has looked at the column inches of news produced by each reporter, and by each paper’s news staff. Finding wide variation, they said, they have concluded that it could do without a large number...
  • Tribune papers to be "right-sized" with 50-50 ad-edit ratio (Dinosaur Media DeathWatch™)

    06/05/2008 2:05:23 PM PDT · by abb · 25 replies · 1,842+ views
    Poynter Online ^ | June 5, 2008 | Jim Romenesko
    Date/Time: 6/5/2008 4:50:07 PM Title: Sam Zell and Randy Michaels memo Posted By: Jim Romenesko Memo to Tribune employees Partners, Instead of recapping our first quarter numbers, which you can see in our news release online, we want to get to the heart of what we’re sure all of you are focused on after our earnings call today – our discussion around the changing business model for publishing. What has become clear as we have gotten intimately familiar with the business is that the model for newspapers no longer works. Supply and demand are not in balance, and that manifests...
  • Tribune Covers For Obama's Terrorist Friends

    05/09/2008 4:56:26 AM PDT · by libstripper · 7 replies · 94+ views
    GOPUSA ^ | May 8, 2008 | Cliff Kincaid
    The Chicago Tribune, which once employed Barack Obama campaign strategist David Axelrod, is refusing to publish the truth about a Weather Underground terrorist bombing that killed a policeman. The paper apparently does not want to tarnish the image of Obama friends Bill Ayers and Bernardine Dohrn, who were allegedly part of or had direct knowledge of the bombing plot that also injured several other police officers. The Tribune considers Ayers an education expert and has published various articles by him. Please help Accuracy in Media expose the Tribune's cover-up. I sent a copy of the following email message to Tribune...
  • Tribune posts 8% drop in operating revenue (Dinosaur Media DeathWatch™)

    05/09/2008 4:48:18 AM PDT · by abb · 16 replies · 129+ views
    Los Angeles Times ^ | May 9, 2008 | Thomas S. Mulligan
    A continued weak advertising environment resulted in an 8% decline in first-quarter operating revenue and a 16% drop in operating cash flow for Tribune Co., parent of the Los Angeles Times, KTLA-TV Channel 5, the Chicago Tribune and other media holdings. However, because of Tribune's conversion to a tax-advantaged, employee-owned company in December, it posted a one-time, $1.86-billion income tax adjustment that resulted in net income of $1.82 billion for the quarter that ended March 31, compared with $11 million in the same 2007 period. Quarterly operating revenue was $1.11 billion, compared with $1.21 billion a year earlier, and operating...
  • Tough Guy (Sam Zell) in a Mean Business (Tribune Co. - Dinosaur Media DeathWatch™)

    04/06/2008 4:44:27 PM PDT · by abb · 18 replies · 90+ views
    The New York Times ^ | April 7, 2008 | RICHARD PÉREZ-PEÑA
    Since taking control of the Tribune Company in December, Sam Zell has drawn a lot of attention in journalism circles for speeches laced with profanity, political incorrectness, insults and self-deprecating humor. But all the twittering and tut-tutting over Mr. Zell’s remarks — and his suggestions that some reporting jobs are not needed — masks a more serious concern. With the newspaper industry going through an unexpectedly sharp contraction, Tribune is struggling under $12.8 billion in debt, and its financial condition has deteriorated, creating what specialists say is a very real risk of credit default in the next year or so....
  • Tribune Co (LA Times, Newsday, etc.) faces default threat in '09 (Dinosaur Media DeathWatch™)

    04/04/2008 9:33:12 AM PDT · by abb · 13 replies · 256+ views
    Reuters ^ | April 4, 2008 | Robert MacMillan and Kenneth Li
    Tribune Co is at risk of defaulting on its debt in as little as 18 months if the newspaper business deteriorates further, and it fails to unload more properties. By some estimates, Tribune could fetch $1.6 billion for the Newsday daily paper and the Chicago Cubs baseball team and related properties, the assets it has already put on the block. Newsday has already attracted interest from News Corp's (NWSa.N: Quote, Profile, Research) Rupert Murdoch and New York Daily News owner Mortimer Zuckerman. Still, Tribune has nearly $4 billion in debt and interest payments due by the end of 2009, according...
  • Tribune's looming deadline (Dinosaur Media DeathWatch™)

    03/31/2008 11:37:05 AM PDT · by abb · 25 replies · 496+ views
    Crain's Chicago Business ^ | March 29, 2008 | Ann Saphir
    Tribune Co. CEO Sam Zell's about-face on protecting assets other than the Cubs appears to be a simple matter of meeting a deadline. The company has about $12 billion in debt, most of it the result of Mr. Zell's leveraged buyout in December. A first payment of $650 million comes due Dec. 4. The original plan when Mr. Zell took control of the company was to raise the cash by selling the Cubs, which could fetch $700 million or more. But that deal is taking longer than expected, as Mr. Zell seeks to boost his Cubs take by selling Wrigley...
  • Murdoch makes a play for (New York) Newsday (Dinosaur Media DeathWatch™)

    03/20/2008 2:34:48 PM PDT · by abb · 19 replies · 476+ views
    Crain's New York Business ^ | March 21, 2008 | Matthew Flamm
    Rupert Murdoch may not be done expanding his newspaper empire. The News Corp. chairman, who’s still digesting Dow Jones & Co., is now believed to have set his sights on Newsday. According to one newspaper industry insider, the company has made a bid for Tribune Co.’s Long Island paper. Newsday also owns amNew York, a daily tabloid handed out free in New York City. Talk of the bid has surfaced at the same time that Tribune’s new Chief Executive Sam Zell has said that an advertising downturn has forced him to consider selling off company assets. Additionally, Standard & Poor’s...