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TRIBUNE
SHAREHOLDERS APPROVE MERGER AGREEMENT
CHICAGO, Aug.
21, 2007 – Tribune
Company (NYSE:TRB) announced that Tribune shareholders have
approved the merger agreement entered into in connection with the
company’s previously announced going-private transaction. At
the company’s special shareholders meeting today in Chicago,
approximately 97 percent of the shares voted were cast in
favor of the merger. The number of shares voted in favor of
the merger represented approximately 65 percent of the total
shares outstanding and entitled to vote at the meeting.
“We’re
pleased that Tribune shareholders recognize the value of this
transaction and have voted overwhelmingly to approve it,”
said Dennis FitzSimons, Tribune chairman, president and chief
executive officer. “With financing fully committed, we
anticipate closing the transaction in the fourth quarter, following
FCC approval and satisfaction of the other closing
conditions.”
Sam Zell said,
“I believe Tribune Company is reasserting itself as a
national leader in news generation and distribution. Despite the
recent upheaval in the credit markets, my view of the company as an
investment has not changed.”
TRIBUNE
(NYSE:TRB) is one of the
country’s top media companies, operating businesses in
publishing, interactive and broadcasting. It reaches more than 80
percent of U.S. households and is the only media organization with
newspapers, television stations and websites in the nation’s
top three markets. In publishing, Tribune’s leading daily
newspapers include the Los Angeles
Times ,
Chicago
Tribune ,
Newsday
(Long
Island, N.Y.), The
Sun (Baltimore),
South
Florida Sun-Sentinel ,
Orlando
Sentinel and
Hartford
Courant . T
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