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Tribune Company Announces
Completion of Debt Tender Offers
CHICAGO, March
29, 2004 -- Tribune Company today announced
the completion of its cash tender offers for any and
all of its outstanding $148 million of 7.25% Debentures
due 2013 and $250 million of 6.61% Debentures due 2027.
The offers commenced on March 18, 2004 and expired today,
March 29, 2004 , at 5:00 p.m. , New York City time. Tribune
has accepted for payment all Debentures validly tendered
and not withdrawn pursuant to the offers. Assuming proper
settlement of all transactions, Tribune has purchased $66
million of the 7.25% Debentures and $165 million of the 6.61%
Debentures, representing approximately 45% and 66% of the
aggregate outstanding principal amounts, respectively.
Tribune retained J.P. Morgan Securities
Inc., Banc of America Securities LLC, Citigroup, Merrill
Lynch & Co. and Deutsche
Bank Securities to act as Dealer Managers in connection with
the tender offers. Questions regarding the tender offers
may be directed to J.P. Morgan Securities Inc. at 866/834-4666
(toll free) or Global Bondholder Services Corporation, the
Information Agent, at 866/857-2200 (toll free).
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TRIBUNE (NYSE: TRB) is one of the country's
premier media companies, operating businesses in broadcasting
and publishing. It reaches more than 80 percent of U.S.
households and is the only media organization with television
stations, newspapers and websites in the nation's top three
markets. In publishing, Tribune operates 14 leading daily
newspapers including the Los Angeles Times, Chicago Tribune,
Newsday and Spanish-language Hoy, plus a wide range of targeted
publications. The company's broadcasting group operates 26
television stations; Superstation WGN on national cable;
WGN-AM in Chicago; and the Chicago Cubs baseball team. Popular
news and information websites complement Tribune's print
and broadcast properties and extend the company's nationwide
audience. |
