TRIBUNE ANNOUNCES DECS(SM) SETTLEMENT
TERMS
Each DECS holder to receive
1.2 shares of Mattel
CHICAGO, August 14, 2001 -- Tribune
Company (NYSE: TRB) announced
today that it will settle its 6¼% Exchangeable Notes
Due August 15, 2001, representing 4,600,000 DECS (Debt Exchangeable
for Common Stock; NYSE: TRD) by delivering 1.2 shares of common
stock of Mattel (NYSE: MAT) in exchange for each DECS.
When the DECS were issued in August 1998, they
were exchangeable at maturity for shares of The Learning Company.
When Mattel acquired The Learning Company in May 1999, the
DECS became exchangeable at maturity for shares of Mattel
common stock.
:: :: ::
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.
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. |
