Tribune Company Annual Shareholders
Meeting Highlights
"Journalism
at its Best"
Board
Members elected, auditors ratified and employee awards Presented
Board
declares $.11 per share quarterly dividend
CHICAGO, May 7, 2002 -- Tribune
Company (NYSE: TRB) executives
highlighted the company's commitment to journalism and reviewed
its recent performance at today's annual shareholders meeting
in Chicago.
"Our commitment to outstanding journalism
is the foundation of everything we do," said John W.
Madigan, Tribune chairman and chief executive officer. "And
our media businesses are great franchises built on that commitment.
We have powerful media businesses in 16 of the top 30 markets-as
the economy recovers, these major markets will come back faster
and stronger."
Madigan pointed to the extraordinary efforts
of Tribune journalists around the world following the terrorist
attacks last September. "Our journalists put themselves
in harm's way in order to more fully report this incredible
story. From our journalists at the front lines, to our cameramen
and photographers, from our writers and editors to our producers,
pressmen, and engineers-all of our people helped in reporting
this story."
Jack Fuller, Roger Goodan, Enrique Hernandez,
Jr., Patrick Ryan and Dudley Taft, all incumbent members of
the Board of Directors, were reelected to three-year terms,
expiring in 2005. Shareholders ratified the selection of PricewaterhouseCoopers
as independent accountants for Tribune for 2002, and re-approved
the Tribune Company Incentive Compensation Plan.
The meeting also included the presentation
of the company's Management Award and Values Award. "We
have always been proud of the talent, character and dedication
of our employees -- that is particularly true this year,"
said Dennis FitzSimons, Tribune's president and chief operating
officer.
The Tribune Management Award was presented
to the team of Steve Lee, senior vice president of circulation
and marketing at the Los Angeles Times, and Mark Kurtich,
senior vice president of operations at the newspaper. Lee
helped implement a new circulation strategy and pricing structure
for the newspaper. Kurtich helped improve overall operating
efficiency at the newspaper, reducing newsprint waste from
more than 7 percent, to less than 5 percent.
The Tribune Values Award was presented to the
team of Rebecca Brown, Frank Callea, and Julianna Cole of
Tribune Interactive. This team spearheaded the development
and deployment of a common technology platform that enables
content-sharing across all of Tribune's Web sites.
"This platform was instrumental in the
hours, days, and weeks following the tragic events of September
11, enabling our newspaper Web sites to share content seamlessly
as news developments rapidly unfolded," said FitzSimons.
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 13,
2002, to stockholders of record at the close of business on
May 30, 2002.
:: :: ::
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.
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