Tribune Granted Regulatory Approvals By FCC
FCC Grants Transfer of Television Station Licenses and Extension of WaiversGoing-Private Transaction Expected to Close By End of 2007CHICAGO Nov. 30, 2007 -- Tribune Company (NYSE:TRB) today announced that the Federal Communications Commission has approved the transfer of its broadcasting licenses and the extension of its cross-ownership waivers in markets where the company owns both a television station and a newspaper. Tribune’s going-private transaction is expected to close by year end following satisfaction of the remaining closing conditions, including the receipt of a solvency opinion and completion of the committed financing.
"We appreciate today’s action by the FCC, which allows our transaction to move forward," said Dennis FitzSimons, Tribune chairman, president and chief executive officer. "We look forward to implementing the new ownership structure that will enable us to focus all of our energy and resources on Tribune’s future."
On April 2, 2007, Tribune announced its intention to become a private company, owned 100 percent by an employee stock ownership plan (ESOP). When the transaction closes, Sam Zell’s investment in the company will increase to $315 million and he will become chairman of Tribune’s board of directors.
To complete the transaction, Tribune sought FCC approval to transfer the operating licenses of its broadcast stations to new ownership. The company also asked for an extension of existing waivers of the FCC’s cross-ownership rule in New York, Los Angeles, Hartford and South Florida -- markets in which Tribune operates both a newspaper and television station. The waivers granted today are temporary, pending the outcome of the FCC’s ongoing review of media ownership rules. In Chicago, the company will be exempt from cross-ownership restrictions through a permanent waiver provision.
SOURCE:
Tribune.com
Los Angeles Times Official Fire Relief Media Sponsor
LEGENDARY PERFORMER GARTH BROOKS
TO PLAY LOS ANGELES TO RAISE MONEY FOR
THE RECENT FIRE VICTIMS AND FOR THE FUTURE OF
FIRE FIGHTING IN THE STATE OF CALIFORNIA
Tickets Go On-Sale December 1 at 9:00 AM – Procedures Announced“Southern California 2008 Fire Relief Campaign”
is sponsored by American Express and the Los Angeles Times in Partnership with the McCormick Tribune FoundationLOS ANGELES (November 28, 2007) – Having been approached by California state elected officials as well as civic leaders from areas affected by recent wildfires, music superstar Garth Brooks has agreed to perform a benefit concert to raise money for the recent fire victims and for the future of fire fighting in the state of California.
Tickets for the January 26, 2008 9:00 PM benefit concert at Los Angeles’ STAPLES Center starring Brooks will be available this Saturday,
December 1 at 9:00 AM.
Tickets priced at $38.60 (plus 1.40 city amusement tax and $5.00 handling charge) for all seats will be available via Ticketmaster charge-by-phone network and on-line at
www.ticketmaster.com. Tickets will not be available at the STAPLES Center Box Office or other outlets. There will be a limit of six tickets per person.
Organizers AEG and Garth Brooks announced that all ticket sale proceeds from the concert sponsored by American Express and official media sponsor the Los Angeles Times, will be donated to the “Southern California 2008 Fire Relief Campaign,” a campaign of the McCormick Tribune Foundation. The funds will be granted to agencies providing aid to victims and the first responders of the Los Angeles and San Diego wildfires in addition to providing financial assistance to California firefighting departments and
organizations in need of additional or replacement firefighting equipment to better perform their heroic duties. The Foundation will also be responsible for grant administration and recordkeeping.
Concert sponsor American Express announced that their organization will donate $20 for each ticket purchased with an American Express card with a
guaranteed commitment to the fund of $1 million. The McCormick Foundation has also pledged to match the first $2 million raised at 50 cents on the dollar (up to a $1 million match) in addition to promotional support from the Los Angeles Times. AEG has donated the use of STAPLES Center for the night of music starring Brooks who last appeared in Los Angeles in 2001.
“Please let everyone know I hate to ask so much for a ticket but, 100% of the money is going to victims of the recent fires and to the firefighters facing future fires,” said Brooks.
“Garth was extremely aware of what our region has had to endure and was on-board the very moment our City and State leaders requested that he perform,” said Tim Leiweke, President & CEO, AEG. “Having the ability to play a role in helping Californians who have lost their homes and possessions get back on their feet in addition to helping our firefighters, the true heroes to us all, be better prepared to do their jobs was all it took. Those lucky enough to be at STAPLES Center on January 26th will not only experience one of the greatest live performers of all-time but will be joining Garth in helping firefighters and our fellow Californians who are in need.”
“We are eager to partner with Garth Brooks, a dynamic musician and philanthropist, to help revitalize the California communities affected by fire devastation and will donate $20 for every ticket purchased by our cardmembers to further help the cause,” said Rich Lehrfeld, Vice President, Global Sponsorship, American Express.
“The Times is honored to join Garth Brooks, AEG, American Express and the McCormick Tribune Foundation in this effort to bring much needed fire-relief aid to Southern Californians.” said David D. Hiller, Los Angeles Times Publisher and CEO.”
Elected officials on both the state and local levels have already spoken with Brooks to pledge their support for his appearance and tremendous efforts to make this important event a reality.
On behalf of the State of California, Speaker of the State Assembly Fabian Nunez commented, “On behalf of the people of California, I want to thank
Garth Brooks for taking the initiative to provide critical leadership during this time of need. When I spoke to Mr. Brooks last week, he immediately responded and will make a difference in thousands of lives not only now, but in the future by helping fire agencies throughout Southern California.”
“This is an incredible gesture of unparalleled generosity by Garth Brooks for which we are all sincerely grateful. It really counts for a lot as we move forward with the healing and recovery efforts,” commented Zev Yaroslavsky, Chairman of the Los Angeles County Board of Supervisors.
“On behalf of all San Diegans, I commend and thank Garth Brooks, his band, American Express, the Los Angeles Times, McCormick Tribune Foundation and STAPLES Center for making this benefit concert a reality,” said San Diego Mayor Jerry Sanders. “To have a star of Mr. Brooks’ stature dedicate his talent and time to help raise funds for those who lost their homes and to better equip our brave firefighters is truly uplifting.”
"All of Orange County thanks Garth Brooks and appreciates his efforts to bring needed relief to those suffering from the recent fires," said Chris Norby, Orange County Supervisor, Board Chair.
“Garth Brooks is an American music legend, and his benefit concert is going to be a huge boost for the fire relief efforts in Southern California,” San Bernardino County Board of Supervisors Chairman Paul Biane said. “Garth’s efforts will surely gain him some new friends in ‘high places’ here in the San Bernardino Mountains where more than 500 homes were damaged or destroyed by the recent fires.”
"The residents of California owe a debt of gratitude to Garth Brooks for supporting this worthy cause, commented Los Angeles Mayor Antonio Villaraigosa. “This event will not only benefit the victims of the recent wildfires, but the firefighters who risk their safety to protect our lives and property."
“The recent tragic fires have taken lives and destroyed property in this region, but they have not destroyed the spirit of giving that exists here, commented John F. Tavaglione, Chairman of the Riverside County Board of Supervisors. “We are incredibly fortunate to live in Southern California, not only for its environment and active lifestyle, but for its generosity and caring. I’m confident this event, featuring the great Garth Brooks, will raise a lot of money for the victims of these fires and I’m certain it will lift their spirits. Thank you to Garth Brooks and the promoters of this concert, for helping improve the lives of the fire victims.”
# # #
TRIBUNE COMPANY PRESS RELEASE
TRIBUNE COMPANY PRESS RELEASE
November 28, 2007
Tribune Company Statement on Federal Communications Commission Proposal
CHICAGO, Nov. 28, 2007 - Tribune Company (NYSE:TRB) Chairman, President and Chief Executive Officer Dennis FitzSimons today issued the following statement:
We are pleased with Chairman Martin's proposal which, if approved, will enable Tribune's going private transaction to close by the end of the year. This will allow Tribunes local media outlets to continue their commitment to outstanding journalism and service to our readers, viewers, listeners and advertisers.
LAT Readers' Representative Journal
From Jim O'Shea Editor Los Angeles TimesTo the staff,
Numerous studies have tied declining public confidence in journalists to the news industry's lack of openness about how and why we make decisions about the stories we cover. As a result, The Times today is unveiling the Readers' Representative Journal (
latimes.com/readersrep), hosted by Jamie Gold. In the journal, Jamie and assistant readers' rep Kent Zelas will coordinate with editors and reporters to wrestle with some of the same issues the readers' representative office has dealt with since it started in 1999, including questions and answers on how The Times covers particular stories. The journal, which grew out of the recommendations of the Reinvent Committee, is an important step in making our newspaper a more open civic institution that explains itself better to readers. It will give readers and staff members a fair and open venue to professionally discuss many of the issues that flow from the stories we cover. It also will contain information about The Times, including our ethics guidelines and frequently asked questions about practices followed at The Times and other newspapers.
Please give Jamie and Kent your full support as they undertake this new, stimulating challenge.
The press release is below for your reference.
Regards,
Jim
Los Angeles Times News Release
LOS ANGELES TIMES RAMPS UP READER ENGAGEMENT
AND FURTHER ALIGNS NEWSGATHERING
latimes.com Unveils Redesign, Debuts Interactive Readers’ Representative Journal and
Elevates Online Executive Editor and Op-Ed/Sunday Opinion Editor to Masthead
LOS ANGELES, November 27, 2007 – The Los Angeles Times today announced several editorial changes that increase newsroom access to better serve and communicate with readers throughout Southern California.
Anchoring the changes is today’s launch of the “Readers’ Representative Journal,” a new blog (www.latimes.com/readersrep) aimed at bringing the public deeper into the process of how editorial decisions are made. Hosted by readers’ representative Jamie Gold and assistant readers’ representative Kent Zelas, the journal will feature a Q&A-oriented conversation to engage reporters and editors in addressing reader queries and observations. Among the rotating features will be “Ask a Staffer,” a chance to get the story behind the story; “Whatever Happened to…,” where readers can ask for updates on past stories; and grammar critiques. Users will be able to view a staff directory, peruse the L.A. Times ethics guidelines and get answers to frequently asked questions about newsroom practices, as well as outside-the-newsroom operations such as how to buy back copies. The Readers’ Representative Journal will explore virtually anything readers want to know about the editorial operation of the Los Angeles Times, online and in print.
“The ongoing changes reflect The Times overarching goal of becoming a more transparent and integrated news organization,” said Los Angeles Times editor, James O’Shea. “Most important, we’re further opening the lines of communication with our readers and using new ways to make the newsroom more accessible.”
Underscoring this commitment, The Times masthead has expanded to include latimes.com executive editor Meredith Artley as well as Op-Ed and Sunday Opinion editor Nicholas Goldberg.
Tribune Revenues Down 9.3% in October
TRIBUNE COMPANY PRESS RELEASE
November 27, 2007
CHICAGO, Nov. 27, 2007 - Tribune Company (NYSE: TRB) today reported its summary of revenues and newspaper advertising volume for period 10, ended Oct. 28, 2007. Consolidated revenues for the period were $383 million, down 9.3 percent from last year $422 million.
Publishing revenues in October were $287 million compared with $311 million last year, down 7.9 percent. Advertising revenues decreased 10.6 percent to $222 million, compared with $249 million in October 2006.
Retail advertising revenues decreased 7.8 percent with the largest decreases in the department stores, amusements and electronic categories, partially offset by an increase in the health care category. Preprint revenues, which are principally included in retail, were down 5.7 percent for the period.
National advertising revenues decreased 2.3 percent, with the largest decreases in the auto, transportation and technology categories, partially offset by an increase in the movie category.
Classified advertising revenues decreased 19.2 percent. Real estate fell 26.9 percent with the most significant declines in the Florida markets, Los Angeles, and Chicago. Help wanted declined 21.7 percent and automotive decreased 4.9 percent. Interactive revenues, which are primarily included in classified, were $22 million, up 11.4 percent, due to growth in most categories.
Circulation revenues were down 6.3 percent due to single-copy declines and continued selective discounting in home delivery.
Broadcasting and entertainment group revenues in October were $96 million, down 13.3 percent, due to decreases in television group revenue and Chicago Cubs revenue. Television revenues fell 7.1 percent, due to declines in political, movies and retail, partially offset by strength in the food/packaged goods, telecom and restaurant/fast food categories. Radio/entertainment revenues declined primarily due to five fewer Cubs home games.
Something To Go With Your Morning Coffee...
ORANGE COUNTY ( CALIFORNIA ) NEWSPAPER
This is a very good letter to the editor. This woman made
some good points. For some reason, people have difficulty
structuring their arguments when arguing against supporting
the currently proposed immigration revisions. This lady
made the argument pretty simple. NOT printed in the
Orange County Paper .................
Newspapers simply won't publish letters to the editor which
they either deem politically incorrect (read below) or which
do not agree with the philosophy they're pushing on the
public. This woman wrote a great letter to the editor that
should have been published; but, with your help it will get
published via cyberspace!
New Immigrants
From: 'David LaBonte'
My wife, Rosemary, wrote a wonderful letter to the editor
of the OC Register which, of course, was not printed. So, I
decided to 'print' it myself by sending it out on the Internet.
Pass it along if you feel so inclined.
Dave LaBonte (signed)
Written in response to a series of letters to the editor in
the Orange County Register :
Dear Editor:
So many letter writers have based their arguments on how
this land is made up of immigrants. Ernie Lujan for one,
suggests we should tear down the Statue of Liberty because
the people now in question aren't being treated the same
as those who passed through Ellis Island and other ports
of entry.
Maybe we should turn to our history books and point out
to people like Mr. Lujan why today's American is not willing
to accept this new kind of immigrant any longer. Back in
1900 when there was a rush from all areas of Europe to
come to the United States , people had to get off a ship and
stand in a long line in New York and be documented. Some
would even get down on their hands and knees and kiss the
ground.
They made a pledge to uphold the laws and support their
new country in good and bad times. They made learning
English a primary rule in their new American households
and some even changed their names to blend in with their
new home. They had waved good bye to their birth place
to give their children a new life and did everything in their
power to help their children assimilate into one culture.
Nothing was handed to them. No free lunches, no welfare,
no labor laws to protect them. All they had were the
skills and craftsmanship they had brought with them to
trade for a future of prosperity.
Most of their children came of age when World War II
broke out. My father fought along side men whose
parents had come straight over from Germany , Italy ,
France and Japan None of these 1st generation
Americans ever gave any thought about what country
their parents had come from. They were Americans
fighting Hitler, Mussolini and the Emperor of Japan
They were defending the United States of America as one
people.
When we liberated France, no one in those villages
were looking for the French-American or the German
American or the Irish American. The people of France
saw only Americans. And we carried one flag that
represented one country. Not one of those immigrant
sons would have thought about picking up another
country's flag and waving it to represent who they were.
It would have been a disgrace to their parents who had
sacrificed so much to be here. These immigrants truly
knew what it meant to be an American. They stirred the
melting pot into one red, white and blue bowl.
And here we are in 2007 with a new kind of immigrant
who wants the same rights and privileges. Only they
want to achieve it by playing with a different set of rules,
one that includes the entitlement card and a guarantee of
being faithful to their mother country.
I'm sorry, that's not what being an American is all about.
I believe that the immigrants who landed on Ellis Island in
the early 1900's deserve better than that for all the toil,
hard work and sacrifice in raising future generations to
create a land that has become a beacon for those legally
searching for a better life. I think they would be appalled
that they are being used as an example by those waving
foreign country flags.
And for that suggestion about taking down the Statue of
Liberty, it happens to mean a lot to the citizens who are
voting on the immigration bill. I wouldn't start talking
about dismantling the United States just yet.
(signed) Rosemary LaBonte
I hope this letter gets read by millions of people all across
the nation!!
Ever onward!!
MAY GOD BLESS AMERICA