Magazine article Editor & Publisher

Tribune Newspaper Co. Name Change Reflects Is Expanding Interests

Magazine article Editor & Publisher

Tribune Newspaper Co. Name Change Reflects Is Expanding Interests

Article excerpt

Talking to alternate Postal Delivery franchises a few months ago, Tribune Newspaper Co. president and chief executive John W. Madigan mused that the subsidiary might someday change its name.

"Maybe it will be something like |Tribune Publishing,'" he said.

"Someday" arrived with the July 6 announcement by Tribune Co. of separate agreements to acquire Comptorn's Multimedia Publishing Group, a publisher of interactive multimedia titles on the CD-ROM format, and Contemporary Books, a publisher of self-help and educational consumer books.

To reflect the growing scope of the wholly owned Tribune Co. subsidiary, Tribune Newspaper Co. will be renamed Tribune Publishing Co., Madigan said.

"Compton's and Contemporary Books will allow us to expand more broadly and to share resources for distribution both in print and interactive multimedia," Madigan said. "Our new name, Tribune Publishing, more aptly identifies our business."

These two relatively small purchases continue a recent Tribune Co. trend of expanding into electronic information creation and delivery.

The company already has investments in providers such as America Online, a consumer-oriented electronic bulletin board and Picture Network International, an on-line photo archive.

Tribune Co. said it will purchase Compton's from Encyclopedia Britannica for approximately $57 million in cash.

Contemporary Books will be purchased for approximately $40 million in cash and Tribune stock, Tribune Co. said.

Both transactions are expected to be completed in the third quarter of 1993. …

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