Tribune Broadcasting Company, LLC was an American media company which operated as a subsidiary of Tribune Media, a media conglomerate based in Chicago, Illinois. The group owned and operated television and radio stations throughout the United States, as well as full- or partial-ownership of cable television and national digital subchannel networks.
Contents
History
Tribune's broadcasting unit originated with the June 1924 purchase of Chicago, Illinois, radio station WDAP by the Chicago Tribune. The new owners changed the station's call letters to WGN, to match the Tribune's slogan, "World's Greatest Newspaper" first used by Tribune in a February 1909 feature commemorating the 100th anniversary of the birth of Abraham Lincoln and then served as the newspaper's motto from August 29, 1911, until December 31, 1976.
On September 13, 1946, the Federal Communications Commission (FCC) granted Tribune license to operate a television station on channel 9 in Chicago and then signed-on a television station in Chicago, WGN-TV on April 5, 1948, initially as a dual affiliate of CBS and the DuMont Television Network. Two months later, the Tribune's then-sibling newspaper in New York City, the Daily News, established its own television station, independent WPIX. WGN-TV became an independent outlet by 1956, and would eventually morph into a pioneering national superstation on November 9, 1978, as its signal was linked to cable and satellite customers across America.
After McCormick succumbed from pneumonia-related complications on April 1, 1955, ownership of WGN-TV-AM, the Chicago Tribune and the News Syndicate Company properties would transfer to the McCormick-Patterson Trust, assigned to the Robert R. McCormick Tribune Foundation in the names of the non-familial heirs of McCormick (whose two marriages never produced any children) and familial heirs of Patterson. The trust was dissolved in January 1975, with a majority of the trust's former beneficiaries, including descendants of the McCormick and Patterson families, owning stock in the restructured Tribune Company entity – which assumed oversight of all properties previously overseen by the trust – afterward.
In subsequent years, the Tribune Company gradually expanded its broadcasting unit, of which WGN-TV-AM served as its flagship stations, a tie forged in January 1966, when the subsidiary (sans the WPIX television and radio stations, which continued to be controlled by the Tribune-managed News Syndicate Co. before being fully integrated into the company's main station group following its 1991 sale of the Daily News) was renamed the WGN Continental Broadcasting Company.
The group became known as the Tribune Broadcasting Company in January 1981, but retained the WGN Continental moniker as its de facto business name until 1984 and as the licensee for WGN-TV and WGN Radio thereafter. The company gained its third television and second radio station in 1960, when it purchased KDAL-TV (now KDLH) and KDAL (AM) in Duluth, Minnesota, from the estate of the late Dalton LeMasurier (Tribune sold KDAL-TV in 1978 and KDAL radio in 1981); the company would later purchase KCTO (subsequently re-called KWGN-TV) in Denver from J. Elroy McCaw in 1966.
Split and subsequent transactions
On July 1, 2013, Tribune announced that it would purchase the 19 stations owned by Local TV, LLC outright for $2.725 billion; the purchase expanded the number of Big Three network affiliates in its portfolio from one to 10 (most of Tribune's television stations prior to the purchase had either been independent stations or from 1995 onward, affiliates of networks that have launched since 1986; New Orleans station WGNO (channel 26) – an ABC affiliate – was Tribune's only station affiliated with one of the three pre-1986 networks prior to the purchase), as well as form duopolies involving stations in Denver and St. Louis where the two companies maintained local marketing agreements.
In order to prevent conflicts with newspaper cross-ownership restrictions (specifically, with Daily Press and The Morning Call), three stations involved in the acquisition – the Norfolk, Virginia, duopoly of WTKR (channel 3) and WGNT (channel 27), and Scranton, Pennsylvania, station WNEP-TV (channel 16) – were sold to Dreamcatcher Broadcasting and are operated by Tribune under shared services agreements (Tribune has an option to purchase WNEP after the publishing/broadcasting split, although such a transfer may be complicated by possible FCC action on a proposal to end a "discount" in television station ownership limits that count UHF stations to half a percentage to a group's overall market reach, which would put Tribune just over the current limit of 39%, under which the company's current station holdings after the Local TV purchase would be grandfathered). The Federal Communications Commission approved the acquisition on December 20, and the sale was completed one week later on December 27.
Aborted merger with Sinclair; acquisition by Nexstar
On February 29, 2016, Tribune Media announced that it would review various "strategic alternatives" to increase the company's value to shareholders, which include a possible sale of the entire company and/or select assets, or the formation of programming alliances or strategic partnerships with other companies, due to the decrease in its stock price since the Tribune Publishing spin-off and a $385 million revenue write-down for the 2015 fiscal year, partly due to original scripted programming expenditures for WGN America since it converted the cable network from a superstation in 2014.
With the FCC reinstating the "UHF discount" rule, reports surfaced in late April 2017 that multiple parties were attempting to make offers for Tribune, including Sinclair Broadcast Group, Nexstar Media Group, and a partnership between 21st Century Fox and Blackstone Group. On May 7, 2017, it was reported that Sinclair Broadcast Group was nearing a deal to purchase Tribune Media, and that 21st Century Fox had dropped its bid for the company. On May 8, 2017, Sinclair Broadcast Group officially announced its intent to acquire Tribune Media. The transaction would have been a cash-and-stock deal valuing the company at $3.9 billion. Depending on regulatory changes or decisions, some divestitures might have been required. However, on August 9, 2018, Tribune canceled the Sinclair deal.
On November 14, 2018, it was reported that Nexstar was a leading bidder to acquire Tribune. On December 3, 2018, Nexstar announced its intent to merge with Tribune Media for $6.4 billion ($4.1 billion for all of Tribune's shares in cash and $2.3 billion of Tribune's debt). The merge would give the company 216 stations in 118 markets, placing it just below the FCC's market cap of 39% of TV households and making it the largest owner of television stations in the United States. On August 1, 2019, the United States Department of Justice approved the deal between Nexstar Media Group and Tribune Media. The sale was approved by the FCC on September 16, and occurred on September 19.
Television production and distribution
Tribune Entertainment
Tribune Entertainment was Tribune's television production, syndication and advertising sales subsidiary. Founded in 1981, this subsidiary produced and/or distributed several first-run syndicated programs including most notably Geraldo, Soul Train, and the U.S. Farm Report; Tribune Entertainment's production and syndication divisions were shut down in December 2007.
Tribune Studios
On March 19, 2013, Tribune Company announced its return to television production with the formation of Tribune Studios (not to be confused with the Los Angeles studio facility that formerly held the same name until its sale by Tribune to private equity firm Hudson Capital in 2008, and was subsequently renamed Sunset Bronson Studios). The new company will produce programs primarily for Tribune Broadcasting's television stations and WGN America, some of which will receive national distribution. On September 17, 2019, Tribune Studios, the television parent of Tribune Broadcasting, was acquired by Nexstar, and the television company went disbanded shortly.
Final stations
Stations are arranged in alphabetical order by state and city of license.
Two boldface asterisks appearing following a station's call letters (**) indicate a station built and signed on by Tribune.
Other assets
Cable networks
WGN America
Chicagoland Television
Food Network (30 percent interest)
Digital multicast networks
This TV (50 percent interest)
Antenna TV