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Tribune Prices $780 Million Notes
Offering
CHICAGO, August 10,
2005 --
Tribune Company (NYSE: TRB) announced
today that it has agreed to sell $450 million of 4.875% Notes
due 2010 and $330 million of 5.25% Notes due 2015. Closing
is expected to occur on Aug. 15, 2005. Tribune intends to
use the proceeds of the offering to repay all outstanding
commercial paper and for general corporate purposes.
"With our commercial paper balances
in the $600 million range and with $420 million of fixed-rate
debt maturing over the next 15 months, we believe this is
an opportune time to lock in long-term rates that we consider
attractive," said Donald C. Grenesko, Tribune senior vice
president/finance and administration.
Banc of America Securities LLC, Citigroup
and Merrill Lynch & Co.
are acting as joint book-running managers for the Notes
offering. Deutsche Bank Securities, JPMorgan and Morgan Stanley
are acting as co-managers. Full details of the offering,
including a description of the Notes, are contained in a
prospectus supplement dated August 10, 2005, available through
Banc of America Securities LLC, Prospectus Department, 100
West 33rd St., New York, NY 10001, ph: (646) 733-4166, Citigroup
Global Markets Inc., Brooklyn Army Terminal, 140 58th St.,
8th Floor, Brooklyn, NY 11220, ph: (718) 765-6732, or Merrill
Lynch & Co., Prospectus Department, 250 Vesey St.,
New York, NY 10080,
ph: (212) 449-1000.
The prospectus supplement also will
be filed with the Securities and Exchange Commission and
will be available at the Commission’s
website at http://www.sec.gov.
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This press release does not constitute
an offer to sell or a solicitation of an offer to buy any
of the Notes or any other securities, nor will there be any
sale of the Notes or any other securities in any jurisdiction
in which such offer, solicitation or sale is unlawful.
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TRIBUNE (NYSE: TRB) is one of the country’s
top media companies, operating businesses in publishing 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 operates 11 leading daily newspapers
including the Los Angeles Times, Chicago Tribune and Newsday,
plus a wide range of targeted publications such as Spanish-language Hoy.
The company’s broadcasting group operates 26 television
stations, Superstation WGN on national cable, Chicago ’s
WGN-AM and the Chicago Cubs baseball team. Popular news and
information websites complement Tribune’s print and
broadcast properties and extend the company’s nationwide
audience.
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