Tribune Annual Shareholders Meeting
Highlights Growth and Strategy for Continued Success
Board members elected,
auditors ratified and employee awards presented
Board declares $.11 per
share quarterly dividend
CHICAGO, May 8, 2001 -- Tribune
Company (NYSE: TRB) executives
highlighted the company's recent growth and outlined strategy
for continued success at today's annual shareholders meeting
in Chicago.
"Successful companies manage for the long-term
and Tribune is creating the multimedia company of the future,"
said John W. Madigan, Tribune Chairman, President and CEO.
"Tribune is a company positioned for success for a long
time to come because we are in major markets, serve mass audiences,
and deliver in multimedia."
Madigan noted that Tribune is the only media
company with television/newspaper combinations in the top
3 markets. "Advertisers crave mass audiences, and that's
what we deliver," said Madigan. "Our 22 television
stations, 11 newspapers and more than 50 Web sites put us
in a position to reach more than 80% of the households in
the U.S., something few competitors can match."
Dennis J. FitzSimons, Executive Vice President,
updated shareholders on the progress of Tribune's operating
groups. "Tribune is the nation's fourth largest television
group operator, the third largest newspaper company in terms
of revenue and cash flow and we have a strong and growing
presence on the Internet," said FitzSimons.
Jeffrey Chandler, Madigan, Nancy Hicks Maynard,
James J. O'Connor and Arnold R. Weber, all incumbent members
of the Board of Directors, were reelected to three-year terms,
expiring in 2004. Shareholders ratified the selection of PricewaterhouseCoopers
as independent accountants for Tribune for 2001.
The meeting concluded with presentation of
the company's Management Award and Values Award.
The Tribune Management Award, which recognizes
an employee who demonstrates the principles of professional
management, was presented to Lou Butler, Manager/Advertising
Strategic Development of the South Florida Sun-Sentinel. Butler
developed and implemented one of the nation's most successful
multimedia sales efforts, more than doubling sales in one
year to $2.3 million.
The Tribune Values Award, which recognizes
an employee whose actions embody the values of the company,
was presented to Charlotte Hall, Vice President and Managing
Editor of Newsday. Hall is the architect and driving force
behind a companywide program that enables Newsday to better
reflect the changing demographics on Long Island. Her efforts
have brought greater diversity to the pages of the newspaper
and to the newsroom staff which is now one of the most diverse
in the country.
At a regularly scheduled Board of Directors
meeting held prior to the annual meeting, the Tribune Board
declared a quarterly dividend of $.11 per share on the common
stock of the company. The dividend will be paid on June 14,
2001, to stockholders of record at the close of business on
May 31, 2001. The board raised the quarterly dividend $.01
per share in February, Tribune's eighth consecutive annual
dividend increase.
:: :: ::
TRIBUNE (NYSE:
TRB) is one of the country's premier media companies,
operating businesses in broadcasting, publishing and on the
Internet. It reaches more than 80 percent of U.S. households,
and is the only media company with television stations, newspapers
and Web sites in the nation's top three markets. Tribune media
span 23 major-market television stations, including national
superstation WGN-TV; 12 market-leading daily newspapers, including
the Los Angeles Times, Chicago Tribune and Newsday; and news
and information Web sites in 18 of the nation's top 30 markets.
This press release contains certain comments
or forward-looking statements that are based largely on the
company's current expectations and are subject to certain
risks, trends and uncertainties. Such comments and statements
should be understood in the context of Tribune's publicly
available reports filed with the SEC, including the most current
annual report, 10-K and 10-Q, which contain a discussion of
various factors that may affect the company's business. These
factors could cause actual future performance to differ materially
from current expectations.
Tribune Company is not responsible for
updating the information contained in this press release beyond
the published date, or for changes made to this document by
wire services or Internet service providers. |
