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  #741  
Old Posted Aug 11, 2018, 4:59 AM
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AMWChicago AMWChicago is online now
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Quote:
Originally Posted by maru2501 View Post
wrong.

Tribune split into Tribune Media and Tribune Publishing, which holds the newspaper (and which became Tronc. )

Tribune Media, the broadcast stuff, took all the real estate, and THEY sold the tower to Golub. The newspaper began paying class A office rates for a building they had previously owned. Golub wanted it to go condo and basically forced it.

The newspaper got nothing except a court fight over the name that Golub wanted to keep up there for marketing and cache, instead of, you know, coming up with a way to keep the paper there
Oof. Looks like print media isn't the way to go, you guys.

Let's just be happy they aren't knocking it down and call it a draw, huh?
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  #742  
Old Posted Aug 11, 2018, 8:18 PM
Natoma Natoma is offline
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I just thought of a question I should have asked at the Golub presentation. Will the remodeled Tribune building and the new tower be connected?

Would you be able to walk through the front door on Michigan ave, and walk all the way through to the lobby of the new building?
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  #743  
Old Posted Aug 12, 2018, 2:29 AM
LouisVanDerWright LouisVanDerWright is offline
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Quote:
Originally Posted by maru2501 View Post
wrong.

Tribune split into Tribune Media and Tribune Publishing, which holds the newspaper (and which became Tronc. )

Tribune Media, the broadcast stuff, took all the real estate, and THEY sold the tower to Golub. The newspaper began paying class A office rates for a building they had previously owned. Golub wanted it to go condo and basically forced it.

The newspaper got nothing except a court fight over the name that Golub wanted to keep up there for marketing and cache, instead of, you know, coming up with a way to keep the paper there
So at one point Tribune was one company and then decided to split knowing the office space would now become a tenant with not ownership rights...

Hmm sounds to me like they still decided that their future didn't lie at the Tribune building...
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  #744  
Old Posted Aug 15, 2018, 3:23 PM
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maru2501 maru2501 is offline
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^the newspaper was one property of the giant company that didn't decide anything for itself and then obviously had zero say after the split because it was in a different company even than the one that sold the building. The drift started under Sam Zell when he was eyeing all the real estate.

It is confusing. Lots of people thought the Tribune newspaper was going to merge with Sinclair, when that was Tribune Media, for example. Not Tronc, which incidentally is going to change its name back to Tribune Publishing, which won't help.

anyway, the result of the suit is puzzling. Not sure they could just slap "McDonalds" up there, but whatever
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