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Home > Fortune 500 Companies > Tribune Co
Tribune Co
Tribune Co. is a publicly traded company having a good stock performance result. Tribune Co. is a fortune 500 stock listed company trading under TRB.
The company was established in 1847. That year, on June 10, the Chicago Tribune published its first edition in a one room plant located at LaSalle and Lake Streets. The original press run consisted of 400 copies printed on a hand press.
The company operates 11 leading daily newspapers including the Los Angeles Times, Chicago Tribune and Newsday, plus a large range of targeted publications such as Spanish language Hoy. The company’s broadcasting group operates 26 television stations, Superstition 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.
Tribune Company today reported first quarter 2006 diluted earnings per share of 0.33 dollars compared with 0.44 dollars in the first quarter of 2005. First quarter 2006 results included the following Stock-based compensation expense of 0.04 dollars per diluted share as a result of the adoption of the new accounting standard for stock based compensation. A charge of 0.04 dollars per diluted share for division and other payments associated with the new union contracts at Newsday. A gain of 0.01 dollars per diluted share related to property sales in publishing. A net non-operating loss of 0.02 per diluted share.
Their net equity income was 6.5 million dollars in the first quarter of 2006, compared with 0.5 million dollars in the first quarter of 2005. The increase reflects improvements at TV Food Network and Comcast Sports Net Chicago. Additionally, the Company is no longer recording losses for The WB Network as the Company’s recorded investment has been reduced to zero.
Corporate expenses for the 2006 first quarter increased to 20 million dollars from 13 million dollars in the first quarter of 2005. The increase was due to 8 million dollars of stock based compensation expense recorded in the first quarter of 2006, partially offset by 1 million dollars of savings primarily from staff reductions in 2005.
Tribune is one of the country’s top media companies, operating businesses in publishing and broadcasting. It reaches more than 80 percent of United States households and is the only media organization with newspapers, television stations, and websites in the nation’s top 3 markets.
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