A News Giant Going It Alone

After spending years in the shadow of bankruptcy proceedings, management turmoil and its more prominent broadcasting stations, the Tribune Company’s publishing division, including well-known newspapers like The Los Angeles Times and The Chicago Tribune, is striking out on its own. The print properties are being spun off into a new company, Tribune Publishing, which starts trading on the New York Stock Exchange, under the symbol TPUB, on August 5. The parent Tribune Company plans to continue on as essentially a television business, having accumulated 42 TV stations. Spinning off troubled print divisions has become a popular model for big media companies in the last year.