Tribune Considers Sale of Education Group
Posted on April 4, 2000
Tribune Company has announced that it is exploring strategic alternatives, including a possible sale, for its education group. Tribune has retained Salomon Smith Barney as its financial advisor for this matter.
``With our pending merger with The Times Mirror Company, we are focused on our core media businesses of broadcasting, publishing and interactive,'' John W. Madigan, Tribune chairman, president and chief executive officer, said. ``Tribune is committed to delivering long-term value to our shareholders. The combined company will be the best positioned local-market media company for the future, with leading broadcasting, print and interactive businesses in 18 of the top 30 U.S. markets, reaching nearly 80 percent of U.S. households."
Tribune Education was formed in 1994. It generates about $400 million in annual revenues. Business units are: Everyday Learning/Creative Publications Group; Instructional Fair Group; Landoll Inc.; NTC/Contemporary Publishing Group; and The Wright Group.
