The Chicago Tribune will discontinue its tabloid single copy edition effective September 2, 2011. The Tribune had launched the tabloid version in 2009 to compete for the Chicago Sun-Times single copy readership. It would return its single copy to the paper's standard broadsheet format.
Showing posts with label Chicago Tribune. Show all posts
Showing posts with label Chicago Tribune. Show all posts
Thursday, September 1, 2011
Tuesday, August 23, 2011
Chicago Red Eye to Discontinue Saturday
Tribune Company has announced that it will discontinue the Saturday print edition of the Chicago Red Eye, effective September 3, 2011. The free tabloid will continue to distribute Monday through Friday.
Friday, June 19, 2009
Chicago Tribune to discontinue weekly publication of magazine
The Chicago Tribune said today it is discontinuing its weekly Sunday magazine, replacing it as of July 5th with Sunday, a new section that will combine some of the magazine's features with content that had been in the paper's Smart and House & Homes sections.
Chicago Tribune Magazine, which traces its roots to 1914's Chicago Tribune Pictorial Weekly and took on its current form on Oct. 4th, 1953, will continue as a series of themed sections published roughly once a month beginning in September.
Gerould Kern, the Chicago Tribune's editor, said in a memo to staff that the change involving the magazine was made "because declining advertising and high costs made weekly publication unsustainable."
Other changes coming to the Sunday Tribune next month involve the introduction of new sections and consolidation of others. "To succeed in this economic climate, we must continually evaluate and adapt our offerings to meet reader and advertiser needs and to improve profitability," Kern wrote.
The Chicagoland report will be incorporated in the Sunday main news section, as it is on weekdays, while the Tribune launches a new World & Nation section, which will also include obituaries and the Sunday weather page.
The new Money & Real Estate section on Sunday will incorporate stories, graphics, advice columns, special features and guidance on home sales and personal finance previously found in House & Home and the Your Money pages of the Business section. Career Builder ads will now appear in the back of the Business section, rather than as a section unto themselves.
The Chicago Homes section will move from Friday to Saturday, as of July 11th. The Tribune in April moved The Guide, with its television listings, from Sunday to Saturdays.
Chicago Tribune Magazine, which traces its roots to 1914's Chicago Tribune Pictorial Weekly and took on its current form on Oct. 4th, 1953, will continue as a series of themed sections published roughly once a month beginning in September.
Gerould Kern, the Chicago Tribune's editor, said in a memo to staff that the change involving the magazine was made "because declining advertising and high costs made weekly publication unsustainable."
Other changes coming to the Sunday Tribune next month involve the introduction of new sections and consolidation of others. "To succeed in this economic climate, we must continually evaluate and adapt our offerings to meet reader and advertiser needs and to improve profitability," Kern wrote.
The Chicagoland report will be incorporated in the Sunday main news section, as it is on weekdays, while the Tribune launches a new World & Nation section, which will also include obituaries and the Sunday weather page.
The new Money & Real Estate section on Sunday will incorporate stories, graphics, advice columns, special features and guidance on home sales and personal finance previously found in House & Home and the Your Money pages of the Business section. Career Builder ads will now appear in the back of the Business section, rather than as a section unto themselves.
The Chicago Homes section will move from Friday to Saturday, as of July 11th. The Tribune in April moved The Guide, with its television listings, from Sunday to Saturdays.
Friday, April 3, 2009
Chicago Tribune Bankruptcy
CHICAGO, December 8, 2008 -- Tribune Company today announced that it is voluntarily restructuring its debt obligations under the protection of Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware. The company will continue to operate its media businesses during the restructuring, including publishing its newspapers and running its television stations and interactive properties without interruption, and has sufficient cash to do so.
The Chicago Cubs franchise, including Wrigley Field, is not included in the Chapter 11 filing. Efforts to monetize the Cubs and its related assets will continue.
"Over the last year, we have made significant progress internally on transitioning Tribune into an entrepreneurial company that pursues innovation and stronger ways of serving our customers," said Sam Zell, chairman and CEO of Tribune. "Unfortunately, at the same time, factors beyond our control have created a perfect storm -- a precipitous decline in revenue and a tough economy coupled with a credit crisis that makes it extremely difficult to support our debt.
"We believe that this restructuring will bring the level of our debt in line with current economic realities, and will take pressure off our operations, so we can continue to work toward our vision of creating a sustainable, cutting-edge media company that is valued by our readers, viewers, and advertisers, and plays a vital role in the communities we serve. This restructuring focuses on our debt, not on our operations."
The company filed today for Court approval of various, customary First-Day Motions, including: maintaining employee payroll and health benefits; the fulfillment of certain pre-filing obligations; the continuation of the Tribune’s cash management system; the ability to honor all customer programs. The company anticipates its First-Day Motions will be approved in the next few days.
While the company has sufficient cash to continue operations, to supplement its cash availability in the event of even more significant declines in its operating results, the company has negotiated an agreement with Barclays to maintain post-filing its existing securitization facility. Barclays has also agreed to provide a letter of credit facility. The company expects to submit these agreements to the Court for approval as part of its First Day Motions.
Since going private last year, Tribune has re-paid approximately $1 billion of its senior credit facility. During this time, the company has been rewriting the business model for its media assets with the goal of building a sustainable, innovative, competitive company that provides relevant products for its customers and communities.
For further information on Tribune Company’s Chapter 11 filing, please visit Tribune.com or http://chapter11.epiqsystems.com/tribune, or call 888-287-7568. The company will provide updates regarding ongoing operations plans as they become available.
The Chicago Cubs franchise, including Wrigley Field, is not included in the Chapter 11 filing. Efforts to monetize the Cubs and its related assets will continue.
"Over the last year, we have made significant progress internally on transitioning Tribune into an entrepreneurial company that pursues innovation and stronger ways of serving our customers," said Sam Zell, chairman and CEO of Tribune. "Unfortunately, at the same time, factors beyond our control have created a perfect storm -- a precipitous decline in revenue and a tough economy coupled with a credit crisis that makes it extremely difficult to support our debt.
"We believe that this restructuring will bring the level of our debt in line with current economic realities, and will take pressure off our operations, so we can continue to work toward our vision of creating a sustainable, cutting-edge media company that is valued by our readers, viewers, and advertisers, and plays a vital role in the communities we serve. This restructuring focuses on our debt, not on our operations."
The company filed today for Court approval of various, customary First-Day Motions, including: maintaining employee payroll and health benefits; the fulfillment of certain pre-filing obligations; the continuation of the Tribune’s cash management system; the ability to honor all customer programs. The company anticipates its First-Day Motions will be approved in the next few days.
While the company has sufficient cash to continue operations, to supplement its cash availability in the event of even more significant declines in its operating results, the company has negotiated an agreement with Barclays to maintain post-filing its existing securitization facility. Barclays has also agreed to provide a letter of credit facility. The company expects to submit these agreements to the Court for approval as part of its First Day Motions.
Since going private last year, Tribune has re-paid approximately $1 billion of its senior credit facility. During this time, the company has been rewriting the business model for its media assets with the goal of building a sustainable, innovative, competitive company that provides relevant products for its customers and communities.
For further information on Tribune Company’s Chapter 11 filing, please visit Tribune.com or http://chapter11.epiqsystems.com/tribune, or call 888-287-7568. The company will provide updates regarding ongoing operations plans as they become available.
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