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Tribune Statement Regarding Wrigley Field
CHICAGO June 9, 2008 -- Tribune Company today issued the following statement regarding its negotiations with the Illinois Sports Facilities Authority (ISFA) on the disposition of Wrigley Field:
"Tribune and ISFA have been unable to come to terms on an agreement to transfer ownership of Wrigley Field into a public trust. As an employee-owned organization, Tribune has been clear and unwavering in its commitment to a transaction that is favorable to the public, to the company, and to the Cubs. Unfortunately, ISFA’s proposal did not meet this criteria and would, in fact, violate the policies of Major League Baseball. We continue to see a strong benefit for the state and the city in public ownership of the ballpark, but we cannot execute a transaction at the expense of our employees or in violation of MLB rules."
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TRIBUNE is America’s largest employee-owned media company, operating businesses in publishing, interactive and broadcasting. 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, Hartford Courant, Morning Call and Daily Press. The company’s broadcasting group operates 23 television stations, WGN America 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. At Tribune we take what we do seriously and with a great deal of pride. We also value the creative spirit and are nurturing a corporate culture that doesn’t take itself too seriously. |
