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Tribune Company Updates Strategic Review
Process
Board of Directors
meets, declares regular quarterly dividend
CHICAGO, February 13, 2007 -- Tribune
Company (NYSE:TRB) today updated the progress of its
review of strategic alternatives and announced that the
board of directors declared a regular quarterly dividend.
The board took the action at today’s
regularly scheduled meeting.
"The review process has been rigorous
and will continue to move forward with the assistance of
our outside financial and legal advisors," said William
A. Osborn, Tribune’s
lead independent director and chairman of the special committee.
"The board expects to make a decision on a course of action
and have an announcement before the end of the first quarter."
In September, the company announced
the formation of the independent special committee to oversee
management’s
exploration of strategic alternatives for creating additional
shareholder value. The committee will make a recommendation
to the full board of directors.
The board of directors also declared a regular quarterly
dividend of $.18 per share on common stock payable on March
8, 2007, to shareholders of record at the close of business
on Feb. 22, 2007.
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TRIBUNE (NYSE:TRB) is one of the country’s
top media companies, operating businesses in publishing,
interactive and broadcasting. It reaches more than 80 percent
of U.S. households and is the only media organization with
newspapers, television stations and websites in the nation’s
top three markets. In publishing, Tribune’s leading
daily newspapers include the Los Angeles Times, Chicago Tribune,
Newsday (Long Island, N.Y.), The Sun (Baltimore), South Florida
Sun-Sentinel, Orlando Sentinel and Hartford Courant. The
company’s broadcasting group operates 23 television
stations, Superstation WGN on national cable, Chicago’s
WGN-AM 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. |
