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Tribune
to Sell Southern Connecticut Newspapers
CHICAGO,
October 25, 2007 -- Tribune Publishing,
a division of Tribune Company (NYSE:TRB), today announced
the sale of its Southern Connecticut Newspapers, The Advocate
(Stamford) and Greenwich Time, to Hearst Corporation for
$62.4 million. The newspapers will be managed by MediaNews
Group, Inc., under an existing joint venture agreement with
Hearst.
The transaction is expected to close
within the next few weeks. It does not include real estate
in Stamford and Greenwich, which Tribune plans to sell
separately.
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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.
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