Tribune Broadcasting

What Tribune Broadcasting does

Tribune Broadcasting was the local television broadcasting division of Tribune Media Company, a U.S. media conglomerate headquartered at Tribune Tower, 435 N. Michigan Avenue, Chicago. The division operated 42 owned or operated local television stations reaching approximately 50 million households across primary affiliations of NBC, CBS, ABC, FOX, MyNetworkTV and The CW, with 14 stations in top-20 markets; Tribune was the country's #1 FOX and #1 CW affiliate group. The platform produced over 254,000 hours of locally-focused news and content annually and served local broadcast viewers, local and national advertisers, cable/satellite/telco distributors, and major broadcast network partners.

The company's core products spanned broadcast television stations, the WGN America national general entertainment cable network (reaching 71–77 million households via MVPD carriage), WGN Radio in Chicago (a 90-year heritage 50,000-watt AM station), Tribune Studios (original programming including Salem, Manhattan, and Dog's Most Wanted), and national multicast networks Antenna TV and THIS TV (the latter programmed in partnership with MGM Television's 4,000-title library). Underlying technology included the Gracenote TV and music metadata platform acquired in January 2014 (powering electronic program guides in televisions, automobiles and mobile devices), and Tribune Digital Ventures operating Zap2it, TVByTheNumbers, Covers.com and other online properties commanding 54 million monthly unique visitors. Tribune Media also held a 31.3% economic stake in TV Food Network, G.P. and managed significant U.S. real estate assets generating rental income.

Tribune generated revenue across five streams: local and national television advertising (including cyclical political advertising), retransmission consent fees paid by cable/satellite/telco distributors ($229.2M in fiscal 2014, up 76% year-over-year), cable network carriage fees for WGN America ($85–87M expected in 2015), digital and data services principally through Gracenote ($174M in fiscal 2014), and real estate rentals (~$50M annually). Headcount was 501–1,000 employees pre-merger with consolidated Tribune Media revenue of $1,949.3M in fiscal 2014. On September 19, 2019, Nexstar Media Group completed its acquisition of Tribune Media for approximately $7.2 billion including assumed debt at $46.687397 per share, combining 197 full-power stations in 115 markets reaching ~39% of U.S. TV households; Tribune Broadcasting thereafter ceased to operate as a stand-alone reporting entity.

Name

Tribune Broadcasting

Legal name

Tribune Media Company

Website

https://tribunemedia.com

Company type

Public

Founded year

1847

Operating status

Acquired

Headcount range

501–1,000 employees

Short description

Tribune Broadcasting operated as a Chicago-based local TV broadcasting subsidiary of Tribune Media, running 42 owned or operated stations reaching ~50 million households across NBC, CBS, ABC, FOX and CW affiliations; it served local viewers, advertisers, and MVPD distributors before its 2019 acquisition by Nexstar Media Group.

Ownership category

akta.pro rank

Product category

Broadcast Television

NAICS

Television Broadcasting Stations (51612), Radio Broadcasting Stations (51611)

SIC

Television Broadcasting Stations (4833), Radio Broadcasting Stations (4832)

akta.pro primary industry

Network-Affiliated Local TV Stations (ABC/CBS/NBC/FOX/CW/Telemundo/Univision, etc.) (MPABACAE)

akta.pro secondary industry

Local TV Station Groups (Owned & Operated/Station Chains) (MPABACAA)

Keywords

• Broadcast television
• Local TV stations
• Cable networks
• Television advertising
• Retransmission fees

Headquarters

HQ city

Chicago

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Supply Chain

Revenue model

1. Television Advertising: Local and national advertising revenues across broadcast television stations, including political advertising during election cycles
2. Retransmission Consent Fees: Fees from cable, satellite, and telco distributors for the right to carry broadcast television signals; grew 76% year-over-year to $229.2 million in fiscal 2014
3. Cable Network Carriage Fees: Fees from cable and satellite distributors for carriage of WGN America and other cable networks; expected $85-87 million in 2015
4. Digital and Data Services: Revenues from digital properties including Gracenote, digital advertising, and data services; $174 million in fiscal 2014
5. Real Estate: Rental revenues from owned real estate properties across the U.S.; approximately $50 million annually

Go-to-market motion1 record

Distribution channels5 records

Marketing channels3 records

Core offering

Tribune Broadcasting operates 42 owned or operated local television stations reaching approximately 50 million U.S. households, with primary network affiliations of NBC, CBS, ABC, FOX, MyNetworkTV, and The CW. It also operates the WGN America national cable entertainment network (71-77 million households), the WGN-AM Chicago radio station, multicast networks Antenna TV and THIS TV, and supports Tribune Studios original programming production.

Product overview

Tribune Media was a diversified modern media company comprising television broadcasting, cable networks, digital media, radio, and real estate holdings. The core portfolio included Tribune Broadcasting's 42 owned or operated local television stations reaching over 50 million households, and the national cable network WGN America reaching approximately 71-77 million households. Supporting operations included Tribune Studios for original content production, WGN Radio in Chicago, multicast networks Antenna TV and THIS TV, the Gracenote metadata business, and Tribune Digital Ventures including Covers.com for sports betting information. The company also held a 31% interest in Television Food Network and managed significant real estate properties across the United States. Tribune Media was acquired by Nexstar Media Group in September 2019 for approximately $7.2 billion.

Differentiator

Problem solved

Functional benefit

Brands

• WGN America: National general entertainment cable network reaching over 77 million households
• Tribune Studios
• Tribune Digital Ventures
• Tribune Creative Group
• Tribune Real Estate Holdings
• Antenna TV
• THIS TV
• WGN Radio
• Covers.com
• Gracenote

Products and services

• Tribune Broadcasting Local Television Stations A portfolio of 42 owned or operated local television stations reaching approximately 50 million U.S. households, with primary affiliations to NBC, CBS, ABC, FOX, MyNetworkTV, and The CW. Includes #1 FOX affiliate group and #1 CW affiliate group status nationally.
• WGN America A national general entertainment cable network reaching approximately 71-77 million U.S. households, with original programming including series Salem, Manhattan, Dog's Most Wanted, and The Disappearance.
• WGN Radio (AM-720) A 50,000-watt AM radio station broadcasting from Chicago, pioneering broadcasts including the Memorial Day 500 (Indy 500), Kentucky Derby, and Scopes Monkey Trial; reaches audiences across the Chicago market.
• Antenna TV A national digital multicast television network offering classic television programming across Tribune Broadcasting station coverage areas.
• THIS TV A 24/7 free digital multicast network featuring movies from the Metro-Goldwyn-Mayer library of over 4,000 titles; programming operated in partnership with MGM Television.
• Gracenote One of the world's leading sources of TV and music metadata powering electronic program guides in televisions, automobiles, and mobile devices; serves media and consumer electronics manufacturers.
• Tribune Studios A production division creating original television programming content for WGN America and other Tribune broadcast properties.
• Covers Media Group / Covers.com An online sports betting information platform serving sports bettors with data, odds, and analysis; sister agency Nova Scotia Sports Media Pros holds an ACSIE license for sports betting business expansion in New Jersey.

Quantifiable outcome

• Reaches 15 of the top 25 U.S. markets
• +2 more outcomes

Named customers2 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

Feature2 records

Partnerships

Ten partnerships are on record, tiered core and minor.

• Nexstar Media GroupcoreStrategic or Co-development Partner · 19 September 2019Nexstar completed $7.2 billion acquisition of Tribune Media creating nation's largest local television broadcaster; combined entity reaches 15 of top 25 U.S. markets with 197 television stations in 115 markets
• ART19coreTechnology or Integration · 17 January 2019Tribune Media partnered with ART19 as its official podcasting partner, leveraging cutting-edge technology and services for audio content distribution
• Northwestern AthleticsminorChannel Partner/ Reseller/ Distributor · 26 February 2016Four-year broadcast rights extension keeping Wildcats football and men's basketball on WGN Radio AM-720
• MGM TelevisioncoreStrategic or Co-development Partner · 28 May 2014Programming operations relationship for THIS TV, the 24/7 free digital network featuring movies from Metro-Goldwyn-Mayer's vast library of over 4,000 titles
• RentrakcoreTechnology or Integration · 4 February 2014Agreement for Rentrak's full suite of local market ratings services including automotive and political Advanced Demographics for all Tribune Broadcasting television stations in 33 markets
• ABC Television NetworkcoreChannel Partner/ Reseller/ DistributorLong-term affiliation agreements for WGNO-TV (New Orleans), WQAD-TV (Davenport, Rock Island, Moline), and WNEP-TV (Wilkes Barre) renewals synchronized to be coterminous in 2019
• CBS CorporationcoreChannel Partner/ Reseller/ DistributorComprehensive long-term agreement renewing existing affiliation agreements; WTTV Indianapolis became new CBS affiliate home
• Fox Television StationscoreChannel Partner/ Reseller/ DistributorMulti-year extension of FOX affiliation in Seattle with KCPQ-TV; renewal of affiliation agreements
• Robert R. McCormick FoundationminorGTM or Marketing PartnerCharitable partnership for disaster relief efforts including Illinois Tornado Relief; McCormick Foundation matched donations 50 cents to the dollar
• TV Food NetworkcoreStrategic or Co-development Partner31.3% ownership stake in TV Food Network, G.P., which operates Food Network and Cooking Channel - a top tier cable asset

Scale indicators12 records

Recent moves11 records

Expansion highlights6 records

Direct peers

• Nexstar Media Group: Acquired Tribune Media in September 2019 for $7.2 billion. Nexstar is now the parent company and largest direct peer, operating 197 full-power stations in 115 markets reaching ~39% of US TV households under the same local broadcast television model.
• Sinclair Broadcast Group: One of the largest US local broadcast television operators with stations across multiple network affiliations. Attempted Tribune Media merger in 2017-2018 before the deal was terminated; directly comparable station portfolio, revenue mix, and regulatory exposure to Tribune.
• Tegna Inc. Pure-play local broadcast television station group with major-market stations. Directly comparable business model with retransmission consent, local advertising, and network affiliation revenue mix.
• Gray Television: Television broadcasting company operating local stations across the US. Closely comparable small/mid-market station portfolio, revenue model, and political advertising exposure.
• E.W. Scripps Company: Diversified media company operating local broadcast television stations plus national networks (ION, Court TV, NewsNation). Comparable broadcast economics plus broader network assets similar to Tribune's WGN America and multicast networks.
• Hearst Television: Privately held subsidiary of Hearst Corporation operating local broadcast television stations in major US markets. Comparable station-level economics and major-market footprint to Tribune Broadcasting.
• Cox Media Group: Privately held media company operating local television stations and radio stations across the US. Comparable local broadcast and radio footprint, particularly relevant given Tribune's WGN Radio heritage.

Broad incumbents

• Fox Television Stations: Owned-and-operated local television stations of Fox Corporation, including major-market FOX affiliates. Directly comparable station-level operations, though embedded within a broader national network and cable news portfolio.
• NBCUniversal Owned Television Stations: Owned-and-operated NBC and Telemundo local stations of Comcast/NBCUniversal. Major-market broadcast operations with similar retransmission economics, though embedded within a much larger media conglomerate.
• Paramount Global (CBS Television Stations): CBS owned-and-operated stations of Paramount Global. Comparable broadcast station operations, but bundled within a vertically integrated media company spanning broadcast, cable, streaming (Paramount+), and production.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/tribune-company

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries10 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Tribune Broadcasting