1. LEADING MARKETS < > LEADING BRANDS
NEW YORK LOS ANGELES CHICAGO PHILADELPHIA BOSTON
DALLAS WASHINGTON ATLANTA HOUSTON SEATTLE
MIAMI FORT LAUDERDALE DENVER SACRAMENTO ORLANDO
ST LOUIS PORTLAND BALTIMORE INDIANAPOLIS SAN DIEGO
HARTFORD GRAND RAPIDS NEWPORT NEWS NEW ORLEANS
HARRISBURG ALBANY ALLENTOWN GREENWICH STAMFORD
>>>
TRIBUNE COMPANY 2002 ANNUAL REPORT
2. > TRIBUNE IS A MEDIA INDUSTRY LEADER
REACHING MORE THAN 80 PERCENT OF
U.S. HOUSEHOLDS THROUGH PUBLISHING,
BROADCASTING AND THE INTERNET.
OPERATIONS ARE CONCENTRATED
IN THE NATION’S MAJOR MARKETS,
INCLUDING EIGHT OF THE TOP 10 AND
20 OF THE TOP 30. REVENUES IN 2002
TOTALED $5.4 BILLION.
3. AT A GLANCE
BROADCASTING
TELEVISION WGNO (ABC26)
WBZL (WB39)
WPIX (WB11) New Orleans
Miami
New York abc26.com
wb39.com
wb11.com
WNOL (WB38)
KWGN (WB2)
KTLA (WB5) New Orleans
Denver
Los Angeles wb38.com
wb2.com
ktla.com
WPMT (FOX43)
KTXL (FOX40)
WGN (WB9) Harrisburg, Pa.
Sacramento, Calif.
Chicago fox43.com
ktxl.com
wgntv.com
WEWB (WB45)
KPLR (WB11)*
WPHL (WB17) Albany, N.Y.
St. Louis
Philadelphia wewbtv.com
wb11tv.com
wb17.com
NATIONAL CABLE
KWBP (WB32)*
WLVI (WB56) Superstation WGN
Portland, Ore.
Boston superstationwgn.com
wb32tv.com
wb56.com
RADIO
WXIN (FOX59)
PUBLISHING
KDAF (WB33) WGN (720 AM)
Indianapolis
Dallas Chicago
fox59.com
kdaf.com wgnradio.com DAILY NEWSPAPERS
WTTV (WB4)
Los Angeles Times
WBDC (WB50) TELEVISION
Indianapolis
Los Angeles
Washington PROGRAMMING
wb4.com
latimes.com
wbdc.com Tribune
KSWB (WB5/69) Entertainment Co. Chicago Tribune
WATL (WB36) San Diego Los Angeles Chicago
Atlanta kswbtv.com tribtv.com chicagotribune.com
wb36.com
WTIC (FOX61) BASEBALL Newsday
KHWB (WB39) Hartford, Conn. Chicago Cubs Melville, N.Y.
Houston fox61.com Chicago newsday.com
khwbtv.com
cubs.com
WTXX (WB20)
The Baltimore Sun
KCPQ (FOX13) Hartford, Conn. INVESTMENTS Baltimore
Seattle wtxx.com The WB Television sunspot.net
kcpq.com
Network (22% owned)
WXMI (FOX17)
South Florida Sun-Sentinel
KTWB (WB22) TV Food Network (31%)
Grand Rapids, Mich.
Fort Lauderdale, Fla.
Seattle The Golf Channel (9%)
wxmi.com
sun-sentinel.com
ktwbtv.com
*Acquisition pending
Orlando Sentinel
Orlando, Fla.
orlandosentinel.com
The Hartford Courant
Hartford, Conn.
ctnow.com
4. TRIBUNE MEDIA ARE CONCENTRATED IN THE NATION’S MAJOR MARKETS.
The Morning Call ¡Exito!
Allentown, Pa. Chicago
mcall.com exito.com
Daily Press el Sentinel
Newport News, Va. Fort Lauderdale, Fla.
dailypress.com elsentinel.com
The Advocate El Sentinel
INTERACTIVE
Stamford, Conn. Orlando, Fla.
stamfordadvocate.com elsentinel.com
Tribune Interactive is among the leading news and
Greenwich Time ENTERTAINMENT
Greenwich, Conn. LISTINGS AND information networks in the country, operating more
greenwichtime.com CONTENT SYNDICATION
than 50 Web sites and attracting 9 million unique visitors
Tribune Media Services
SPANISH-LANGUAGE
tms.tribune.com per month. The group manages all aspects of the
NEWSPAPERS
company’s newspaper and television sites, plus special-
Hoy CABLE PROGRAMMING
New York CLTV interest sites like BlackVoices.com, ChicagoSports.com
holahoy.com Chicago
and many that feature local dining and entertainment
cltv.com
La Opinión
options. Affiliated national-brand classified advertising
Los Angeles Central Florida News 13
(partnership) Orlando, Fla. sites include CareerBuilder (33 percent owned by Tribune),
laopinion.com (partnership)
cars.com and apartments.com. The latter two sites
are operated by Classified Ventures (29 percent
owned by Tribune).
5. TO OUR SHAREHOLDERS
AND EMPLOYEE OWNERS
TRIBUNE’S LOCAL MASS-MEDIA BUSINESSES ARE THE
FOUNDATION OF OUR COMPANY. THE QUALITY, LEADERSHIP AND
LOCATIONS OF THESE FRANCHISES SET US APART IN THE MEDIA INDUSTRY AND PROVIDE A
DISTINCT COMPETITIVE ADVANTAGE. THROUGH THEM, AND WITH THE COMMITMENT OF ALL
TRIBUNE EMPLOYEES, WE’RE BUILDING LONG-TERM VALUE FOR SHAREHOLDERS.
THE THEME OF THIS REPORT — LEADING MARKETS, LEADING BRANDS — DEFINES OUR STRATEGY
AND SPEAKS TO THE UNIQUE GROWTH OPPORTUNITIES WE’RE PURSUING IN THE PLACES THAT
MATTER MOST TO ADVERTISERS. THESE INCLUDE THE TOP THREE U.S. MARKETS, NEW YORK,
LOS ANGELES AND CHICAGO, WHERE TRIBUNE IS THE ONLY MEDIA COMPANY OPERATING
NEWSPAPERS, TELEVISION STATIONS AND WEB SITES. >
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6. > Our business concentration in major markets contributed to and insertion capabilities. In Southern California alone, where the
excellent financial results in 2002. During the second half of the Times currently has about a third of the overall preprint business,
year, as the advertising environment stabilized and the economy the new operation should contribute an additional $75 million in
gradually improved, large markets outperformed smaller ones, revenue over the next several years. We see another preprint
helping Tribune achieve record-setting earnings per share in the growth opportunity in South Florida so the Sun-Sentinel is investing
fourth quarter and for the full year. in new insertion facilities that will be operational later this year.
Operating cash flow in 2002 grew 20 percent to $1.5 billion, and Growing national advertising is a priority, too. Tribune Media
we generated free cash flow of about $700 million. Our continued Net produced about $60 million in incremental revenue from
focus on cost control reduced expenses by 3 percent, and we newspaper and cross-media ad programs in 2002 — nearly
lowered debt by $650 million. Also in 2002, cash-flow margins double what the unit generated in 2001, its first full year. These
improved in publishing and broadcasting, and our interactive dollars, allocated by national marketers for brand-building
businesses showed strong growth and turned cash-flow positive. campaigns, are above and beyond what our local businesses
Tribune’s solid financial performance was reflected in our could attract on their own. With our multimedia strength in the
stock price. Total return on top three markets, we anticipate
TRB shares — change in stock more than $70 million in incre-
price plus dividends — was 23 mental sales through Tribune
percent in 2002, compared with Media Net in 2003.
a negative total return of 22 Another positive develop-
percent for the Standard & ment in 2002 was the emergence
Poor’s 500 Index and negative of CareerBuilder, our brand in
15 percent for the Dow Jones the online recruitment segment
Industrial Average. Our per- of classified advertising. Despite
formance ranked No. 23 among a very tough help-wanted mar-
all stocks in the S&P 500. ketplace, CareerBuilder improved
It was an outstanding year its market share at the expense
Chairman John Madigan (left) and President/CEO Dennis FitzSimons
at the Values in Action exhibit inside Tribune Tower.
for Tribune journalism as well. of Monster, the category leader.
Our newspapers won three The rebranding of our Sunday
Pulitzer Prizes: two by the Los Angeles Times and one by Newsday. newspaper employment sections and the addition of Gannett
These honors and many others —including numerous Emmy to the CareerBuilder partnership (joining Tribune and Knight
Awards earned by our television stations and several prestigious Ridder) have greatly extended the brand’s reach. The multimedia
awards for our Web sites — symbolize Tribune’s commitment to promotional strength that our three companies bring to
journalistic excellence. They also reinforce our belief that talented CareerBuilder is a powerful advantage that no competitor can
and dedicated people are this company’s most important asset. match, and it will help us gain even more market share as the
economy expands.
While winning in classifieds is vital to our future, an important
INCREASING NEWSPAPER REVENUES AND READERSHIP
In all of our markets, we aim to maximize Tribune’s share of local challenge facing the entire newspaper industry is readership.
advertising dollars. One major priority in publishing is preprinted A Wall Street media analyst recently said that readership,
inserts, a highly profitable and growing advertising segment. as opposed to circulation, is fast becoming the most relevant
State-of-the-art preprint facilities at the Los Angeles Times and metric to gauge newspaper audiences for ad buyers and marketers.
Chicago Tribune, completed in 2002, have greatly enhanced zoning We agree, and Tribune newspapers are moving quickly with
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7. innovative steps that get results. In fact, readership is up at our South Florida, we actively promote our newspapers’ content during
newspapers in New York, Los Angeles and Chicago. evening newscasts, pointing readers to the next day’s editions.
To grow readership significantly, we believe new products
are needed — innovations that broaden our newspaper audience. ACQUISITIONS, STRONG RATINGS LEAD TV GROWTH
RedEye, a new daily edition of the Chicago Tribune introduced In television, we announced three station acquisitions in 2002,
last fall, is written for young adults looking for a newspaper that’s advancing our goal to build scale in the nation’s top 30 markets.
quicker to read and easier to digest. So far, readers’ response has Regulatory approval for the acquisitions of WB affiliates KPLR-TV,
been very encouraging, and advertisers are enthusiastic about St. Louis, and KWBP-TV, Portland, Ore., is expected in the first
RedEye’s ability to reach the critical 18-to-34 demographic. quarter. Tribune will then have 26 owned and operated stations in
We’re also putting greater emphasis on our Spanish-language addition to Superstation WGN.
newspapers that serve the large and increasing Hispanic popula- Expanding our national footprint also means creating more
tions in major markets. Our star in this category is Hoy, the leading two-station clusters. The acquisition of WTTV-TV last summer
Spanish-language daily in the New York metro area. Tribune made Indianapolis our fourth two-station market, joining Seattle,
CAREERBUILDER
TV NEWS
INSERTS REVENUE
SECTIONS IN
HOURS UP
MORE THAN
130
41%
$500 NEWSPAPERS
FROM THREE
MILLION
NATIONWIDE
YEARS AGO
IN 2002
Preprinted inserts drive retail-advertising growth High-quality local news programming attracts The combined multimedia promotional strength
for Tribune newspapers, and we’re investing viewers and advertisers alike, and Tribune stations of CareerBuilder partners Tribune, Knight Ridder
aggressively to boost local market shares in this now air 213 hours of locally produced news every and Gannett brings valuable “offline” exposure to
fast-growing, high-margin ad category. New week. “The WB11 Morning News” on New York’s the online brand. A national marketing campaign
insertion facilities opened in 2002 at the WPIX-TV (above) expanded by an hour in 2002, now in progress positions CareerBuilder as
Los Angeles Times and Chicago Tribune. increasing the show’s already strong ratings. “the smarter way to find a better job.”
Publishing recently promoted Hoy’s publisher to the newly created Hartford and New Orleans. With multiple stations we can achieve
position of vice president of Hispanic media. Louis Sito will higher operating margins in a number of ways, such as cross
expand our initiatives in this important segment with the same promoting to improve program ratings and consolidating back-
vision and passion that he and his team have shown in making office expenses and news departments.
Hoy such a remarkable success since its launch five years ago. In all of our markets, the fringe periods before and after prime
Targeted products like RedEye and Hoy are just part of the time play a critical role, delivering 40 percent of overall television
story — we’re stepping up promotion to boost readership, too. revenue. Ratings for the newest sitcom on Tribune stations,
Tribune newspapers are marketing themselves and their content “Will & Grace,” are excellent as are those for “Friends” and
more aggressively than ever, including strategically placed in-paper “Everybody Loves Raymond.” The size of Tribune’s station group
ads that alert readers to stories in other sections or upcoming translates into buying power when acquiring the syndication
editions. Our newspapers are applying in print some of the same rights to these and other popular shows.
proven techniques that our television stations use to attract Tribune’s longstanding partnership with The WB Network
viewers. And in New York, Los Angeles, Chicago, Hartford and produced audience and market share growth for our stations in
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8. 2002 as each of our 17 WB affiliates benefited from the network’s Technology, Inc., a healthcare, benefits and technology consulting
outstanding fall season. Ratings during the November sweeps firm that she founded in 1985. We are fortunate to have each of
period were The WB’s best ever, and it registered the highest these highly qualified executives serving Tribune shareholders.
audience gains of any network. It did so by doing what it has They share our commitment to an active board dedicated to strong
always done best — attract the teenage and young-adult viewers corporate governance.
that prime-time advertisers covet. Two long-time directors, Nancy Hicks Maynard and James J.
More advertisers are including Superstation WGN in their O’Connor, will retire from board service in May. Nancy has served
media plans as well. The channel currently reaches 57 million more than seven years and Jim for nearly 20. Tribune shareholders
homes outside Chicago via cable and direct broadcast satellite, have benefited greatly from their leadership, and we sincerely
and Tribune Broadcasting is working to increase that subscriber appreciate their efforts.
base in 2003. With dual revenue streams from advertising and
subscriber fees, the superstation is a great business with exciting OUTLOOK
growth potential. Tribune is well positioned during a time of rapid change in the
Our television stations and newspapers are complemented by media industry. Market fragmentation, caused by the tremendous
high-traffic news and information Web sites that are unrivaled growth in consumer media choices, has made it more difficult for
among their peers for content and functionality. The sites are advertisers to reach broad audiences quickly and efficiently. That
operated by Tribune Interactive, which in 2002 achieved prof- makes our company’s local mass-media assets more valuable
itability for the first time. Since its creation three years ago, Tribune than ever. Through newspapers, television and the Web, or any
Interactive has dramatically improved cash flow through revenue combination of the three, we can help advertisers succeed in
building and cost reduction. Its lead role in our CareerBuilder the markets they value most. At the same time, we’ve expanded
business positions Tribune for growth in the important help-wanted our product options for clients who need to reach specific
segment of classified advertising. demographic groups.
Tribune has long advocated changes to the current rules gov-
erning media ownership. The Federal Communications Commission
LEADERSHIP CHANGES
On Jan. 1, 2003, Dennis FitzSimons, who had been president took steps in 2002 that we believe signal further deregulation
and chief operating officer, became president and chief executive ahead. With increasing cash flow and a strong balance sheet, we
officer. In the final phase of Tribune’s management transition, can take advantage of opportunities to expand as the regulatory
John Madigan, who had been chairman and chief executive officer, climate evolves.
will remain chairman until he retires on Dec. 31, 2003, and serve We look forward to another excellent year in 2003. Our
on the board of directors until the 2004 annual meeting. successful local mass-media strategy remains in place, applied
Patrick Mullen, previously president of Tribune Television, was with integrity by employees who believe in putting Tribune’s
named president of Tribune Broadcasting in January 2003. Pat guiding values into action every day.
has been a great leader for the company’s television group, most
recently by spearheading the acquisitions in St. Louis and Portland. Sincerely,
We welcomed two new members to the Tribune board of
directors in late 2002 — Betsy D. Holden and Kathryn C. Turner.
Betsy is co-chief executive officer of Kraft Foods, Inc., and president Dennis J. FitzSimons
John W. Madigan
President and Chief Executive Officer
Chairman
and chief executive officer of Kraft Foods North America. She has
served Kraft in various management positions since 1982. February 26, 2003
Kathryn is chairperson and chief executive officer of Standard
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9. Tribune Company and Subsidiaries
FINANCIAL
HIGHLIGHTS
2001(1)
FOR THE YEAR (in thousands, except per share data) 2002
Operating revenues $ 5,384,428 $ 5,253,366
Operating profit before restructuring charges $ 1,275,785 $ 802,229
Restructuring charges 27,253 151,892
Operating profit including restructuring charges $ 1,248,532 $ 650,337
Net income Continuing operations before cumulative effect
of accounting change $ 608,579 $ 111,136
Cumulative effect of accounting change, net (165,587) –
Total $ 442,992 $ 111,136
Diluted Continuing operations before cumulative effect
earnings of accounting change $ 1.80 $ .28
per share
Cumulative effect of accounting change, net (.50) –
Total $ 1.30 $ .28
Common dividends per share $ .44 $ .44
Common high $ 49.49 $ 45.90
stock price
low $ 35.66 $ 29.71
per share
close $ 44.47 $ 37.74
AT YEAR END Dec. 29, 2002 Dec. 30, 2001
Total assets $14,078,328 $14,484,867
Total debt (excluding PHONES) $ 2,749,630 $ 3,411,582
Shareholders’ equity $ 6,140,100 $ 5,651,168
Common shares outstanding 305,909 298,003
(1) 2001 results do not reflect the non-amortization provisions of Financial Accounting Standard No. 142, which requires that goodwill and certain
intangible assets no longer be amortized to earnings, but periodically be reviewed for impairment.
5
10. TRIBUNE IN THE
COMMUNITY
OUR COMMITMENT TO THE COMMUNITIES WE SERVE GOES WELL BEYOND
PROVIDING NEWS, INFORMATION AND ENTERTAINMENT. Tribune’s local media businesses
support a wide range of nonprofit organizations that help people in need and contribute to building healthy, vibrant communities.
As a company and as individuals, giving back is the right thing to do. Citizenship is also good business because as our communities
grow stronger, so does our company.
Community involvement comes easily to our local business units. That’s partly due to the nature of their work— reporting the
news of their communities and supplying information to the people who live in them. In the course of these activities, our businesses
often discover and act upon opportunities to address important needs. Local initiatives such as “Reading by 9,” the Sun-Sentinel
Diversity Venture Fund and WPHL-TV’s partnership with the Police Athletic League in Philadelphia make a positive difference in the
lives of many people, as does Tribune’s longstanding support of United Way.
Tribune employees at all levels donate time, talent and dollars to our philanthropic efforts. Their generosity and citizenship
are a source of pride within the company and, we hope, an inspiration to others.
6
11. FAR LEFT Orlando Sentinel employees serve as reading
mentors during regular visits to local elementary
schools — part of the newspaper’s “Reading by 9”
program, a child literacy initiative originated by The
Baltimore Sun. MIDDLE In New Orleans, “Bruce’s
Coats for Kids” has collected more than 30,000
coats over the past seven years. Bruce Katz, WGNO-TV
chief meteorologist, is spokesperson for the annual
drive. NEAR LEFT Cubs slugger Sammy Sosa greets
some excited youngsters at last summer’s opening of a
baseball diamond named in his honor. Sammy Sosa’s
Inspiration Field is part of Cubs Care Park, a miniature
replica of Wrigley Field on Chicago’s Near North Side.
Cubs Care, the ballclub’s charitable arm and a fund
of the McCormick Tribune Foundation, provided
$1 million to the YMCA of Metropolitan Chicago to
build the facility.
> McCORMICK T R I B U N E F O U N DAT I O N
Though legally independent from Tribune Company, the at Northwestern University’s Medill School of Journalism
McCormick Tribune Foundation plays a vital role in our in Evanston, Ill. The $17.5 million state-of-the-art facility
local media outlets’ support of their communities. houses Medill’s journalism and integrated marketing
Tribune business units are partners in the foundation’s communications programs, with multimedia classrooms,
communities program, which establishes and administers broadcast studios and a 150-seat theater for public
charitable funds in their names. Our businesses raise affairs programs.
money from the public on behalf of these funds, primarily The McCormick Tribune Foundation is one of the nation’s
through in-kind contributions of staff time and media largest charitable organizations, with assets of more than
support. The foundation then provides matching dollars $2 billion and annual giving exceeding $100 million.
and awards grants to local nonprofit organizations on Grants are awarded in four program areas—communities,
behalf of the funds. In 2002, charitable funds of the education, journalism and citizenship — and through
foundation in partnership with Tribune business units a special initiatives program. The foundation was estab-
issued grants totaling more than $35 million. lished as a charitable trust in 1955 upon the death of Col.
A major foundation initiative came to fruition last fall Robert R. McCormick, longtime editor and publisher of
when the McCormick Tribune Center (right) was dedicated the Chicago Tribune.
7
12. BOARD OF DIRECTORS
Jeffrey Chandler Robert S. Morrison
President and Chief Executive Officer of Chandler Ranch Co., Retired Vice Chairman of PepsiCo, Inc., and Chairman of
an avocado producer PepsiCo Beverages and Foods North America
Dennis J. FitzSimons James J. O'Connor
President and Chief Executive Officer of Tribune Company Retired Chairman and Chief Executive Officer of Unicom Corporation,
a holding company, and Commonwealth Edison Company,
Jack Fuller
an electric utility
President of Tribune Publishing Company
William A. Osborn
Roger Goodan
Chairman and Chief Executive Officer of Northern Trust Corporation,
Consultant to Schlumberger Limited, a global technology
a multibank holding company, and its principal subsidiary,
services company
The Northern Trust Company
Enrique Hernandez, Jr.
Patrick G. Ryan
Chairman and Chief Executive Officer of Inter-Con Security
Chairman and Chief Executive Officer of Aon Corporation
Systems, Inc., an international security services firm
William Stinehart, Jr.
Betsy D. Holden
Partner in Gibson, Dunn & Crutcher LLP, a law firm
Co-Chief Executive Officer, Kraft Foods, Inc., and President
and Chief Executive Officer of Kraft Foods North America Dudley S. Taft
President and Director of Taft Broadcasting Company,
John W. Madigan
an investor in media and entertainment companies
Chairman of Tribune Company
Kathryn C. Turner
Nancy Hicks Maynard
Chairperson and Chief Executive Officer of Standard Technology, Inc.,
President of Maynard Partners Incorporated,
a healthcare, benefits and technology consulting firm
consultants in news media economics
CORPORATE MANAGEMENT
John W. Madigan Andrew J. Oleszczuk Susan M. Mitchell
Chairman Senior Vice President, Development Vice President, Human Resources
Service Center
Dennis J. FitzSimons Thomas G. Caputo
President and Chief Executive Officer Vice President, Audit Ruthellyn Musil
Vice President, Corporate Relations
Jack Fuller James L. Ellis
President, Tribune Publishing Vice President, Brand Management Patrick M. Shanahan
Vice President, Tax
David D. Hiller Irene M. Freutel
President, Tribune Interactive Vice President, Compensation Shaun Sheehan
and Benefits Vice President, Washington Affairs
Patrick J. Mullen
President, Tribune Broadcasting David J. Granat David L. Underhill
Vice President and Treasurer Vice President, Intergroup Development
Donald C. Grenesko
Senior Vice President, Mark W. Hianik Howard G. Weinstein
Finance and Administration Vice President, Assistant General Vice President, Employee and
Counsel and Assistant Secretary Labor Relations
Crane H. Kenney
Senior Vice President, Steve Howell Gary Weitman
General Counsel and Secretary Vice President, Safety and Vice President, Communications
Security Services
Luis E. Lewin
Senior Vice President, R. Mark Mallory
Human Resources Vice President and Controller
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13. DIRECT STOCK PURCHASE PLAN
Tribune’s DirectSERVICE Investment Program enables both
SHAREHOLDER registered shareholders and new investors to buy and sell
INFORMATION shares of Tribune common stock directly through EquiServe.
Please contact EquiServe for more information.
ANNUAL MEETING
Tribune’s 2003 Annual Meeting of Shareholders will be held
CORPORATE HEADQUARTERS
in Chicago on Tuesday, May 6, at the Swissôtel, 323 East
Tribune Company
Wacker Drive. The meeting will begin at 11 a.m. Central time
435 North Michigan Avenue
and a live Webcast will be available at www.tribune.com.
Chicago, Illinois 60611
312/222-9100
EQUAL EMPLOYMENT OPPORTUNITY
Tribune believes in equal employment opportunity. Tribune’s
INTERNET ADDRESS
policy is to hire and promote the most qualified applicants and
www.tribune.com
to comply with all federal, state and local equal employment
opportunity laws.
INVESTOR INFORMATION
Current and prospective Tribune investors can receive
FORWARD-LOOKING STATEMENTS
the annual report, proxy statement, earnings
This report contains comments and forward-looking statements
announcements and other reports and publications
that are based largely on Tribune’s current expectations and
at no cost by calling 800/757-1694. The annual report,
are subject to certain risks, trends and uncertainties. Such
proxy and related financial information also are available
comments and statements should be understood in the
on Tribune’s Web site. The contact for securities analysts,
context of Tribune’s publicly available reports filed with the
portfolio managers and individual investors is
Securities and Exchange Commission, including the most
Ruthellyn Musil, Vice President/Corporate Relations.
recent 10-K and 10-Q, which discuss various factors that
Call 312/222-3787 or e-mail rmusil@tribune.com.
may affect the company’s business. These factors could cause
actual future performance to differ materially from current
STOCK INFORMATION
expectations. Tribune is not responsible for updating the
Tribune common stock is listed on the New York, Chicago
information contained in this report.
and Pacific stock exchanges under the ticker symbol TRB.
The current dividend rate is $.11 per share per quarter.
CREDITS
INDEPENDENT ACCOUNTANTS
PricewaterhouseCoopers LLP, Chicago PRINCIPAL PHOTOGRAPHY
Derek Snape / San Francisco
TRANSFER AGENT AND REGISTRAR OTHER PHOTOS
EquiServe Trust Company, N.A. maintains shareholder records. Alex A. Garcia, Chicago Tribune, p.2
David Cotton, Orlando Sentinel Communications, p.6 (left)
For assistance on matters such as lost shares, name changes
Glenn Kaupert, Chicago Tribune, p.7 (top)
on shares or transfers of ownership, please contact:
José M. Osorio, Chicago Tribune, p.7 (bottom)
EquiServe Trust Company DESIGN
P.O. Box 43069 Pressley Jacobs: a design partnership / Chicago
Providence, Rhode Island 02940-3069 PRINTING
800/446-2617 The Hennegan Company / Florence, Ky.
www.equiserve.com Merrill Corporation / Chicago
14. TRIBUNE COMPANY 435 NORTH MICHIGAN AVENUE, CHICAGO, ILLINOIS 60611 WWW.TRIBUNE.COM