From: FitzSimons, Dennis J.
Sent: Friday, June 30, 2006 1:38 PM
Subject: Update
Dear Fellow Employee:
A few minutes ago we announced the final results of our stock tender offer. In total, we have accepted for purchase approximately 45 million shares of Tribune common stock at a price of $32.50 per share. Further details are posted on tribune.com.
The shares tendered, including the 10 million shares to be acquired from the McCormick Tribune Foundation on July 12, represent nearly 90 percent of our stated goal. These results are above average for large tender offers such as ours. Upcoming repurchases in the open market will complete our planned acquisition total of 75 million shares.
With the tender offer behind us, we can focus on growing revenues and improving operations. Divestitures of non-core assets also will continue. These steps are part of our overall plan and will reward Tribune shareholders.
Thanks for your support, and have a happy and safe July 4th holiday.
Sincerely,
Dennis
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6 comments:
hey Ed wasnt that the same speach kurtich & Co gave the drivers that there will NOT be any lay offs ( gee I wonder what happened ?? ). Company man can you explain to our fellow presspeople what kurtich did ??. Oh by the way jeff said that they where not going to sell L.A, chicago & N.Y. and that the " other " papers are hurting because "union" humm.... I wonder what newsday & chicago are ???
Company man said the newspaper is changing.Can you see beyond your self. Computer TV AND RADIO all advertise so it is very open to the public. Circulation has been dropping and the size or product is smaller. So we need to make changes to compete no brainer. Dont need 11 to run a press.Stay positive and be grateful.Happy people are so very GRATEFUL OC OPER
huh!! mark ( kurtich ) is that you !!?? I never thought you would put your opinion on this blog.LOL no really the manning is one of many issues ( mr OC operator LOL Oh I forgot you got to keep your voucher position huh THAT must make you very relieved...to bad for those T- men & 1st colors )
Response to last comment. Make your mind up who is the anonymous person is.Are you confused or just whatever.Oh by the way what is LOL.Any way i am a OC OPERATOR that probably works twice as hard as you and smarter.Afew of are pressman quit growing years ago it is very sad.Try to roll with change and you to can be HAPPY PEACE BE WITH YOU
LOL ( means Laughing Out Loud )And by the way OC operator we All are working alot harder (and for less $$ as well )And it must be nice too keep your voucher position as well ( a former vouchered position )
Most likely the highest paid newspaper pressman in CALIF. As for working harder possibly upstairs yes. Downstairs the manning is close to being the same.Great money for no degree.No LOL in OC. PEACE BE WITH YOU
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