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TRIBUNE STOCKHOLDERS ELECT FOUR DIRECTORS; BOARD DECLARES DIVIDEND ON COMMON, PREFERRED STOCK

 TRIBUNE STOCKHOLDERS ELECT FOUR DIRECTORS;
 BOARD DECLARES DIVIDEND ON COMMON, PREFERRED STOCK
 ORLANDO, Fla., April 28 /PRNewswire/ -- At Tribune Company's (NYSE: TRB) annual meeting held today in Orlando, stockholders re-elected four directors to the company's board for three-year terms:
 -- Stanton R. Cook, chairman, Tribune Company.
 -- John E. Houghton, chairman, Quebec and Ontario Paper Company,
 Ltd.
 -- James J. O'Connor, chairman and chief executive officer,
 Commonwealth Edison Company.
 -- Arnold R. Weber, president, Northwestern University.
 During the stockholders' meeting, the Tribune board of directors expressed its gratitude, in the form of a resolution, to Frank W. Considine, chairman emeritus of American National Can Company, as he retired as a board member after 11 years of service.
 Tribune stockholders also ratified the appointment of Price Waterhouse as the company's independent accountants.
 In addition, stockholders approved a long-term incentive plan. They also defeated a resolution submitted by stockholders relating to the publication of a special report regarding the employment of minorities and women.
 Commenting on the company's outlook, Charles T. Brumback, president and chief executive officer, said: "We are cautious about the earnings trend for the remainder of 1992. There are signs of economic recovery over the last weeks, evidenced in part by the modest pick-up in our first quarter media revenues, but we have not seen sustained improvement in the general economy, and the West Coast markets are especially weak. As the recovery unfolds, however, our media businesses are well positioned to benefit. In the North American newsprint market, prices will remain depressed until there is better balance between supply and demand. As a result, newsprint losses could offset much or all of the anticipated profit growth from our media businesses in 1992. Over the long term, we remain confident about the prospects for our company and increasing shareholder value."
 At a board meeting also held today, the board declared a quarterly dividend of $.24 per share on the company's common stock. The dividend will be paid on June 11 to stockholders of record on May 29.
 The board also declared a dividend of $8.525 per share on the company's Series B convertible preferred stock held by Tribune's Employee Stock Ownership Trust. The dividend will be paid on June 15.
 A team of five employees from the Chicago Tribune was named winner of the Tribune Management Award, given annually at the stockholders' meeting in memory of former board member Robert W. Reneker. For developing a new advertising technique called Zip Zoning, the award was given to: Steve Brooks, advertising division manager; Steve Inouye, marketing and development division manager; Jeff Johnson, packaging manager; Tim Ryan, suburban circulation manager; and Stephen Skolozynski, senior financial analyst. Zip zoning allows the Chicago Tribune to offer smaller and more targeted zones to advertisers, which has led to gains in insert revenue and attracted new advertisers.
 Additionally, in memory of James F. Bere, former CEO of Borg Warner and Tribune board member, the Tribune Values Award was given for the first time. Recipients were executives of "Exito," a Spanish- English weekly publication, which was successfully launched last November in Miami: Humberto Cruz, editor; Alfredo Duran, publisher; and Mitch Golub, deputy managing editor for development. The team was recognized for exemplifying Tribune values of innovation, customer satisfaction, diversity and teamwork in launching a publication that opened new geographic and demographic market segments to the Sun- Sentinel.
 Tribune is a leading information and entertainment company. It publishes seven daily newspapers, operates six television and four radio stations; produces and syndicates information and programming and manufactures newsprint.
 -0- 4/28/92
 /CONTACT: Joseph Andrew Hays, 312-222-3237 (office) or 312-943-8244 (home), or Jeff Bierig, 312-222-3787, both of the Tribune Company/
 (TRB) CO: The Tribune Company ST: Illinois IN: PUB SU: DIV


JB-AW -- FL009 -- 3820 04/28/92 12:49 EDT
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Publication:PR Newswire
Date:Apr 28, 1992
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