Tribune Publishing

For the former broadcast and digital media company, see Tribune Media.
"Tronc" redirects here. For other uses, see Tronc (disambiguation).
Tribune Publishing Company
FormerlyTronc, Inc. (2016–2018)
Company typeSubsidiary
Nasdaq: TRNC (2017–2018)
Nasdaq: TPCO (2018–2021)
ISINUS89609W1071
IndustryNewspapers and commuter tabloids
GenrePublishing
FoundedJune 10, 1847 (177 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
,
U.S.
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)
RevenueDecrease$983.1 million USD (2019)
Increase$4.8 million USD (2019)
Total assetsDecrease$682.3 million USD (2019)
Number of employees
4,114 (2019)
ParentTribune Company (1847–2014)
Alden Global Capital (2021–present)
Websitewww.tribpub.com
Footnotes / references
[1]

Tribune Publishing Company (briefly Tronc, Inc.)[2] 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, 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 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.[3][4][5] The transaction officially closed on May 25.[6][7] 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 the United States. With the acquisition, Alden Global Capital became the second-largest newspaper publisher in the United States.[8]

  1. ^ "Tribune Publishing 2019 10K Filing". SEC EDGAR. Retrieved May 6, 2020.
  2. ^ "Tronc renames itself back to Tribune Publishing". Reuters. October 4, 2018. Retrieved October 4, 2018.
  3. ^ Folkenflik, David (May 21, 2021). "'Vulture' Fund Alden Global, Known For Slashing Newsrooms, Buys Tribune Papers". NPR. Retrieved May 21, 2021.
  4. ^ Chicago Tribune Staff (April 19, 2021). "Tribune Publishing ends discussions with Maryland hotel executive, moving forward with hedge fund Alden's bid for newspaper chain". Chicago Tribune. Retrieved April 20, 2021.
  5. ^ Tracy, Marc (February 16, 2021). "Hedge Fund Reaches a Deal to Buy Tribune Publishing". The New York Times. Retrieved February 17, 2021.
  6. ^ Roeder, David (May 26, 2021). "Chicago Tribune staff gets buyout offers as Alden takes over". Chicago Sun Times. Retrieved June 2, 2021.
  7. ^ Feder, Robert (May 21, 2021). "'Sad, sobering day' for Chicago Tribune as Alden wins takeover bid". Retrieved May 23, 2021.
  8. ^ Yoksoulian, Lois (June 2, 2021). "What does the Chicago Tribune sale mean for the future of newsrooms?". Illinois News Bureau. Retrieved June 2, 2021.