Printer Friendly

TRIBUNE INVESTS IN PEAPOD, AN ONLINE HOME SHOPPING SERVICES COMPANY

 CHICAGO, Aug. 19 /PRNewswire/ -- Tribune Company (NYSE: TRB) has made a minority equity investment in Peapod, an online home shopping services company, M. Catherine Jaros, vice president/marketing, announced here today. Terms of the agreement were not disclosed.
 Peapod was formed in 1989 to address marketplace demand for computerized grocery shopping. The company's services allow subscribers to shop electronically 24 hours a day by store aisle, category or item. The system displays product name, size, unit price and enables subscribers to take advantage of all sales and coupons. Personal shoppers pull orders from the shelves, noting special requests. Peapod drivers deliver to the doorstep at an agreed-upon time for a nominal fee.
 In addition to its shopping services, Peapod plans to develop database tools and targeted advertising complemented by online news and information.
 "We realize that time-sensitive consumers will be looking increasingly to online services for products and information. This investment will enable Tribune to participate in the emerging online home shopping services business. Peapod has been creative in solving a real consumer problem. They've done so through an efficient and well- managed operation," said Jaros.
 Peapod currently operates in parts of the Chicago market in cooperation with Jewel Food Stores. On the West Coast, the company is working with Safeway Stores to provide both online and call-in grocery shopping services. It is expected to expand soon to other major markets.
 "Our systems have been designed for rapid expansion into new markets," said Andrew Parkinson, president and CEO of Peapod. "This strategic alliance with Tribune adds significantly to Peapod's resources."
 Tribune is a leading information and entertainment company. It publishes six daily newspapers, operates seven television and six radio stations, produces and syndicates information and programming, owns a book publisher and has an interest in newsprint manufacturing.
 -0- 8/19/93 R
 /CONTACT: Robert D. Carr (media), 312-222-3763, at home, 708-279-8021, or FAX 312-222-1573; Joseph Andrew Hays, 312-222-3237, or at home, 312-642-0040, both of Tribune Company/
 (TRB)


CO: Tribune Company; Peapod ST: Illinois IN: PUB CPR SU:

TS -- NY030R -- 4335 08/19/93 12:43 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Aug 19, 1993
Words:346
Previous Article:MAJESTIC DEVELOPMENT & MANAGEMENT CORPORATION APPOINTS GENERAL MANAGER OF SOUTH DAKOTA PROPERTIES
Next Article:INTEGRATED HEALTH SERVICES TO LIST ON NEW YORK STOCK EXCHANGE
Topics:

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters