Tribune Co. Changes Name to Tribune Media
The company, led by CEO Peter Liguori, recently approved the spinoff of Tribune Publishing, which houses the Los Angeles Times and whose stock is set to start regular trading on Tuesday.
Tribune Co. said Monday it was changing its name to Tribune Media Co.
The rebranding news comes after a recent move by the company to spin off Tribune Publishing, which is expected to start trading as a separate stock on Tuesday. Regular trading of Tribune Publishing's stock is set to begin on the New York Stock Exchange.
Tribune Media consists of 42 owned or operated broadcast stations, national entertainment network WGN America, Tribune Studios, Tribune Digital Ventures, WGN Radio, real estate properties and strategic investments.
Tribune Publishing operates the Los Angeles Times, Chicago Tribune, Orlando Sentinel and other newspapers, as well as local news services.
Tribune Media CEO Peter Liguori has said the separation will allow investors to put money into either the broadcast or print assets of Tribune, or both. The spinoff is mindful of the split of Rupert Murdoch's News Corp and 21st Century Fox.
"In the last year, we have executed a strategy designed to embrace a rapidly changing media environment," said Liguori. "We doubled the size of our broadcast group, relaunched our national cable network, WGN America, with high-quality original programming, and expanded our digital businesses that power some of the world’s leading media brands. The result is a rich and diverse portfolio of media properties and the birth today of Tribune Media Company."