Tribune Co. Sets Date for Media Division Spinoff

TribuneCoLogoChicago Tribune media reporter Robert Channick has the logical scoop on an important upcoming date for his parent company. We’re talking Monday August 4.

According to Channick, that’s the date Tribune Co. has set for completion of the spinoff of Tribune Publishing. From his item:

The spinoff date was included in a presentation for lenders conducted by Tribune Publishing June 17 in New York, according to sources. Tribune Publishing is seeking to raise $350 million in conjunction with its planned spinoff from Tribune Co.

On the minus side, Channick couldn’t get a statement of comment from a Tribune Co. spokesperson. Read his full report here.

P.S. The forthcoming NYSE symbol for Tribune Publishing – TPUB – could also be the rap music moniker for an angry former print journalist. In this dog-eat-dogs digital age, that somehow seems perfectly appropriate. (“A year ago, I had newsroom clout; Now all I got is freelance doubt…”)

[H/T: Ken Bensinger]