Message from Sam Zell, New Owner of Tribune Company

Folks,

Great news from Sam that our transaction is completed. I’m excited about this new chapter and hope you are, too. I’ll be meeting with Sam here soon to talk about our plans for 2008 and beyond, as we discussed at our Town Hall meetings last week.

Today at 12:30 pm (Pacific Time), we will broadcast today’s press conference live in the Chandler Auditorium, Olympic Plant, OC, CCN, Chatsworth, Inland Empire, Monrovia, Westside, New York, Glendale, and Washington D.C., as well as on the Square’s internal TV monitors. We’ll do the same drill for Sam’s interview at 9:00 am (Pacific Time) on Friday.

Lots of great things in the works, so stay tuned.

David


___________________________________________
From: Talk to Sam
Sent: Thursday, December 20, 2007 10:08 AM
Subject: Tribune Transaction Closed!

Fellow Investor:

It’s a great day – for you, for me, and for this company.

We’ve now launched the boat together, and we have to start paddling. We’ve got a long way to go to shed all the things that tied us down in the past, and to realize the enormous potential we can create. You'll see a lot of changes in the coming months.

Þ We will take intelligent risks and reward innovation.
Þ We will tear down bureaucracy and reward entrepreneurial spirit.
Þ We will compete fiercely but with integrity.
Þ We will work hard and have fun.
Two important events for employees today and tomorrow will be broadcast live to our business units across the country:

· Today at 2:30 CDT (3:30 EDT, 12:30 PDT) we’ll hold a press conference and take questions from reporters.
· And join me tomorrow at 11 a.m. CDT (12 EDT, 9 PDT) for an interview with the Chicago Tribune and Los Angeles Times.

An audio webcast of the press conference will be available on Triblink and Tribune.com, and an audio webcast of the interview will be available on Triblink. Video from both events will be available on Tribune.com shortly after each concludes.

I’m looking forward to meeting many of you during a site-visit road show in mid-January.

And, on an ongoing basis, I strongly encourage you to send your ideas, comments and questions to me at talktoSam@Tribune.com.

Let’s go for greatness.

Sam Zell