Tribune Media

Name

Tribune Media

Legal name

Tribune Media Company

Website

https://tribunemedia.com

Company type

Public

Founded year

2013

Operating status

Acquired

Headcount range

5,001–10,000 employees

Ownership category

akta.pro rank

Product category

Broadcast Television Media

NAICS

Television Broadcasting Stations (516120)

SIC

Television Broadcasting Stations (4833), Cable & Other Pay Television Services (4841), Radio Broadcasting Stations (4832)

akta.pro primary industry

General Entertainment Cable Networks (MPABAFAA)

akta.pro secondary industry

National General-Entertainment Broadcast Networks (MPABAAAA)

Keywords

• Broadcast television stations
• Cable network programming
• Television advertising sales
• Retransmission consent fees
• Local news production

Headquarters

HQ city

Chicago

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Advertising Revenue: Local and national television advertising including political advertising during election cycles
2. Retransmission Consent Fees: Fees collected from cable, satellite, and telco distributors for carrying broadcast television station signals
3. Cable Network Carriage Fees: Fees from cable and satellite providers for carriage of WGN America national cable network
4. Digital and Data Services: Revenue from digital properties including Gracenote metadata services and online platforms
5. Equity Investments: Cash distributions from equity method investments including 31% interest in TV Food Network (Food Network and Cooking Channel)
6. Real Estate: Rental revenues from owned office and production facilities and real estate properties across the U.S.

Go-to-market motion2 records

Distribution channels5 records

Marketing channels5 records

Core offering

Tribune Media was a diversified broadcast and digital media company that operated 42 owned or operated local television stations reaching over 50 million U.S. households, the WGN America national cable entertainment network reaching 71-77 million households, WGN Radio in Chicago, and digital multicast networks Antenna TV and THIS TV. The company generated revenue from local and national television advertising, retransmission consent fees paid by cable/satellite/telco distributors, cable network carriage fees, and digital properties including Gracenote metadata services and Covers.com sports betting information.

Product overview

Tribune Media was a diversified media company operating primarily as a broadcast television and digital media platform. Its core portfolio included Tribune Broadcasting (42 local television stations reaching 50+ million households with network affiliations including FOX, CBS, ABC, NBC, CW), WGN America (national cable entertainment network reaching 71-77 million households featuring original programming like 'Salem' and 'Manhattan'), WGN Radio (Chicago AM radio station since 1924), and multicast networks Antenna TV and THIS TV. The company also owned Tribune Studios (content production), Gracenote (metadata service for TV/music EPGs), Tribune Digital Ventures (websites including Covers.com, Zap2it, TVByTheNumbers), and held a 31% stake in TV Food Network. The company was acquired by Nexstar Media Group in September 2019 for approximately $7.2 billion.

Differentiator

Problem solved

Functional benefit

Brands

• WGN America: National entertainment cable network reaching approximately 71-77 million households, featuring original programming including Salem, Manhattan, and syndicated series
• WGN Radio
• Antenna TV
• THIS TV
• Tribune Studios
• Tribune Digital Ventures
• Tribune Broadcasting

Products and services

• Tribune Broadcasting Division operating 42 owned or operated local television stations across major U.S. markets, affiliated with FOX, CBS, ABC, NBC, CW, and MyNetworkTV, reaching approximately 50 million households. Targeted at viewers and advertisers seeking local broadcast reach.
• WGN America National entertainment cable network reaching approximately 71-77 million U.S. households, featuring original scripted series like 'Salem' and 'Manhattan' and syndicated programming including 'Person of Interest', 'Elementary', and 'Blue Bloods'. Targeted at cable/satellite subscribers.
• WGN Radio Chicago-based AM radio station (720 AM, 50,000 watts) operating since 1924, broadcasting news, talk, and sports programming including Northwestern athletics. Targeted at Chicago-area listeners.
• Antenna TV National multicast digital television network featuring classic television programming from MGM's library of over 4,000 movie titles. Targeted at classic TV viewers.
• THIS TV National multicast digital television network co-managed with MGM Television featuring movies from MGM's vast library. Targeted at classic movie viewers.
• Tribune Studios Creative development arm producing original content for WGN America and Tribune local stations nationwide. Targeted at internal content needs and syndication partners.
• Gracenote TV and music metadata service powering electronic program guides in televisions, automobiles, and mobile devices. Acquired in January 2014 as part of Tribune's Digital and Data segment. Targeted at device manufacturers and media platforms.
• Covers.com Online sports betting information platform providing betting trends and odds as part of Covers Media Group owned by Tribune Media. Targeted at sports betting consumers and researchers.

Quantifiable outcome

• Reaching approximately 39% of U.S. television households
• +4 more outcomes

Named customers4 records

Segments3 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Twelve partnerships are on record, tiered core and minor.

• Nexstar Media GroupcoreStrategic or Co-development Partner · 19 September 2019Nexstar Media Group completed acquisition of Tribune Media in September 2019 for approximately $7.2 billion including debt assumption. The transaction created the nation's largest local television broadcaster. Tribune Media was absorbed into Nexstar with three former Tribune senior executives joining Nexstar's management team.
• Chicago Entertainment Ventures (Chicago Cubs)minorStrategic or Co-development Partner · 25 January 2019Chicago Entertainment Ventures, LLC, the Cubs' parent company, purchased Tribune Media's remaining 5% membership interests in WGN-Plus/CMAC (Cablevision McGraw-Hill Acquisition Company).
• ART19coreTechnology or Integration · 17 January 2019Tribune Media partnered with ART19 as its official podcasting partner. ART19 provides cutting-edge technology and services for Tribune Media's expansive audio network.
• Sinclair Broadcast GroupminorStrategic or Co-development Partner · 3 December 2018Tribune Media had a previously announced transaction with Sinclair Broadcast Group that was terminated. Tribune Media filed a lawsuit for breach of contract regarding the terminated merger agreement.
• Ball State UniversityminorStrategic or Co-development Partner · 1 January 2017WTTV CBS4 partnered with Ball State University to help increase social media audience. College students gained experience creating branding strategies for social media.
• Northwestern AthleticsminorChannel Partner/ Reseller/ Distributor · 26 February 2016Four-year broadcast rights holder extension keeping Wildcats football and men's basketball on WGN Radio AM-720.
• RentrakcoreTechnology or Integration · 4 February 2015Agreement for Rentrak to provide full suite of local market ratings services including automotive and political Advanced Demographics for all Tribune Broadcasting television stations in 33 markets. Tribune stations had been using Rentrak in Cleveland and Des Moines since 2012.
• ABC TelevisioncoreChannel Partner/ Reseller/ Distributor · 1 December 2014Comprehensive long-term affiliation agreement renewal covering WGNO-TV (New Orleans), WQAD-TV (Davenport, Rock Island, Moline), and WNEP-TV (Wilkes Barre) through Dreamcatcher Broadcasting.
• MGM Television (THIS TV)coreStrategic or Co-development Partner · 1 January 2014Tribune Broadcasting and MGM Television joined forces for new programming operations relationship for THIS TV, the 24/7 free digital network featuring movies from MGM's library of over 4,000 titles.
• 21st Century FoxcoreChannel Partner/ Reseller/ Distributor · 1 January 2014Multi-year extension of FOX affiliation in Seattle with KCPQ-TV station.
• CBS CorporationcoreChannel Partner/ Reseller/ Distributor · 1 January 2014Comprehensive long-term agreement renewing existing affiliation agreements and giving CBS a new home in Indianapolis (WTTV). Renewed all existing affiliation agreements for stations nationwide.
• Local TV HoldingscoreStrategic or Co-development Partner · 1 July 2013Tribune acquired Local TV Holdings, LLC in December 2013, creating the largest combined independent broadcast group and content creator in the country with 39 television stations.

Scale indicators10 records

Recent moves11 records

Expansion highlights5 records

Direct peers

• Nexstar Media Group: Nexstar Media Group is the direct peer and ultimate acquirer of Tribune Media, operating the same local television broadcast and digital media model across 197 full-power stations in 115 U.S. markets with comparable retransmission, carriage and advertising revenue mix.
• Sinclair Broadcast Group: Sinclair Broadcast Group operates the largest U.S. television broadcast station group by station count with similar local news, sports and network affiliation economics; had a terminated merger agreement with Tribune Media in 2018.
• Gray Television: Gray Television operates a peer local broadcast TV station portfolio (and acquired Raycom Media), with the same dependence on retransmission consent, local advertising, political cycle revenue and network affiliations.
• Tegna: Tegna is a comparable pure-play local broadcast TV station group with similar revenue mix (local/national advertising, retransmission) and a pending sale process; structurally the closest comp to Tribune Broadcasting prior to its Nexstar deal.
• Hearst Television: Hearst Television is a privately held U.S. local broadcast TV station group operating dozens of stations affiliated with NBC, ABC, CBS and FOX, making it a direct private-market comparable for Tribune Broadcasting's station portfolio and economics.
• E.W. Scripps Company: E.W. Scripps operates a portfolio of local broadcast television stations and national networks (ION, Court TV, Scripps News), offering comparable local ad-supported broadcasting plus national network cable exposure analogous to Tribune's WGN America position.

Broad incumbents

• Fox Corporation: Fox Corporation owns and operates FOX broadcast network and FOX News alongside entertainment and sports cable channels, serving as a major network affiliate counterparty to Tribune's stations and competing for the same advertisers and retransmission dollars.
• The Walt Disney Company (ABC/ESPN): Disney owns the ABC broadcast network as well as ESPN and other cable networks, and is a network affiliate counterparty to Tribune's ABC-affiliated stations while competing for the same advertising and distribution dollars.
• Warner Bros. Discovery: Warner Bros. Discovery operates a portfolio of general-entertainment and news cable networks (TNT, TBS, CNN, HGTV via prior Discovery assets) that compete with WGN America for cable carriage and original scripted programming audiences.

Others

• Cumulus Media / iHeartMedia: Major U.S. commercial radio broadcasters and ad-supported audio platforms (iHeartMedia, Cumulus Media) most directly comparable to Tribune's WGN-AM radio business and broader audio/podcast initiative (ART19 partnership).

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/tribunemedia
• Facebookfacebook.com/tribunemediaco
• LinkedInlinkedin.com/company/tribune-company

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries11 records

Funding overview

Funding rounds

Investors

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

M&A4 records

Investments5 records

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

Frequently asked questions about Tribune Media