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McCormick Tribune Disaster Relief Fund
Surpasses $16 Million
Individual contributions
total more than $14 million
Foundation provides
$2.5 million in matching funds
CHICAGO, October 17, 2001 -- Tribune
Company (NYSE: TRB) and
its partner the McCormick Tribune Foundation announced today
that the Disaster Relief Fund has now raised more than $16
million. The fund was established in the wake of the September
11 terrorist attacks in New York and Washington, and the money
raised is being used to assist emergency service agencies
helping victims of the tragedy.
Contributions from Tribune employees and from
the public now total more than $14 million; the McCormick
Tribune Foundation is contributing an additional $2.5 million
in matching funds to the effort. The Foundation matched the
first $5 million raised by the fund at the rate of fifty-cents
per dollar.
"The outpouring of support for the Disaster
Relief Fund has been very gratifying," said John Madigan,
Tribune Company's chairman and chief executive officer. "More
than 100,000 people across the country have made a contribution
to this effort; I want to thank all of our employees, our
readers, viewers, listeners-everyone-for opening their hearts
and giving so generously."
Earlier this month, the Foundation made initial
grants of $3.8 million to 13 social service agencies assisting
victims and their families. Rather than attempt to make these
awards directly to the victims of this tragedy or to their
families, the Foundation sought to work with established agencies
that have a history of service in the communities impacted
by the tragedy, and have demonstrated a high level of expertise
in identifying those most in need. The agencies receiving
grants include the National American Red Cross, the Community
Service Society of New York and Safe Horizon of New York.
The Foundation expects to announce additional grants in late
October.
Tribune's 11 newspapers, 23 television stations
and 4 radio stations led the fundraising effort for the Disaster
Relief Fund. Appeals for contributions to the fund began just
days after the attack. Foundation officials say the average
contribution to the fund has been $134.
"Tribune employees are continuing to do
a great job in keeping the public informed on the country's
war on terrorism," said Dennis FitzSimons, Tribune Company's
president and chief operating officer. "Many of them
also asked for a way of helping those most in need following
the September 11 tragedy. The Disaster Relief Fund has given
them a way of personally supporting victims and their families."
The McCormick Tribune Foundation absorbed all
of the administrative costs of the fundraising campaign-100%
of every donation will be granted to social service agencies
assisting victims. Though the Foundation has reached its fundraising
goal, the Disaster Relief Fund is continuing to accept donations.
Checks can be made payable to Tribune Disaster
Relief Fund. Donations can be sent to:
Tribune Disaster Relief Fund
c/o McCormick Tribune Foundation
Suite 770
435 N. Michigan Avenue
Chicago, Illinois 60611
A toll-free phone number has also been established
to accept donations. The phone number is (800) 999-9005.
A list of all the grants awarded today
is posted on the McCormick Tribune Foundation website at www.rrmtf.org,
and on the Tribune Company website at www.tribune.com.
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The McCormick Tribune Foundation is a
private foundation that supports nonprofit agencies nationwide
through a philanthropic partnership with broadcast and print
media organizations as well as professional sports teams.
As an incentive for the general public to contribute donations
to address their communities' needs, the Foundation matches
donations at a significant percentage, thereby increasing
the net benefit to the agencies in those communities.
The foundation was established in 1955
upon the death of Colonel Robert R. McCormick, the longtime
editor and publisher of the Chicago Tribune, who directed
that his estate be dedicated to promoting a democratic society
and its equality of life. Employing philanthropic means, the
foundation's goals include improving the social and economic
environment; encouraging a free and responsible discussion
of issues affecting the nation; enhancing the effectiveness
of American education; and stimulating responsible citizenship.
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