Congressman Brad Schneider joins the show to discuss a variety of topics. Bill and Congressman Schneider discuss how President Trump’s tariffs affect the 10th district, and a possible solution to DACA. Deerfield recently passed an assault weapons ban, and Congressman Schneider inquires into the topic on Gun Laws and reform.
In this week’s round table segment, Bill Cameron is joined by Ray Long of the Chicago Tribune, Greg Hinz of Crain’s, Lynn Sweet of the Chicago Sun-Times, and Fran Spielman of the Chicago Sun- Times. Topics include Illinois Tax reform, How President Trump’s Tariffs are affecting the relationship between the United States and China, and if President Trump’s recent comments on Amazon will negatively affect Chicago’s chance of getting an Amazon Headquarters.
This week’s Connected to Chicago segment highlights April as National Child Abuse Prevention Month. In Illinois each year, some 125,000 children are abused, according to the latest state statistics. DCFS’s Cathy Smith says many are not old enough to speak up for themselves. Prevent Child Abuse Illinois executive director Denise McCaffrey says she is inspired by the “Me Too” movement and says with that momentum, it is time to work together to stop the abuse. The public is asked to call the DCFS hotline if they suspect a child is at risk.
Editor/publisher Jim Kirk talks about the future for the Chicago Sun-Times, plus Disney hacked and a movie is being held at ransom, Dancing with the Stars David Ross, and more!
Bob and Marianne discover there’s a gym in the building. Airbus is going to test out flying cars. Paul Sullivan from the Chicago Tribune joins the show to talk about the World Champion Chicago Cubs visit to the White House.
Governor Gary Johnson’s campaign manager was awakened early this morning by WLS AM’s John Howell and Ray Stevens to break the news that the Chicago Tribune had endorsed their candidate. Governor Johnson joined the show soon after in an exclusive interview with WLS. Howell finished the interview by asking Johnson if he could “name a newspaper he really respects.”
Laughingly, Johnson responded by saying, “I think I’ll probably be getting a subscription later on today to the Tribune.”
FILE – In this April 12, 2006, file photo, flags wave near the Chicago Tribune Tower in downtown Chicago. A week after naming a new CEO, Tribune Publishing Co. announced a reorganization, on Wednesday, March 2, 2016, naming each of its newspapers’ editors as dual editors-in-chief and publishers. (AP Photo/Charles Rex Arbogast, File)
By Brian Stelter (CNN)
(CHICAGO) Gannett wants to take over fellow newspaper owner, Chicago based Tribune Publishing, the owner of the Chicago Tribune.
On Monday morning, Gannett went public with a bid, saying its initially private entreaties have been rebuffed.
Gannett is offering to pay roughly $815 million in cash for Tribune, at $12.25 a share, which is a 63% premium based on Tribune’s closing price of $7.52 a share on Friday.
“Given the substantial value represented by our offer and the other compelling benefits of a combination of Gannett and Tribune, we are confident that Tribune’s non-management stockholders will support our proposal,” Gannett CEO Robert Dickey wrote in a letter to Tribune CEO Justin Dearborn.
In other words, Dickey is forcing the issue by taking his take-over battle public.
Investors reacted as expected: Tribune stock jumped up 60% in early trading, approaching the $12 mark.
Tribune issued a statement about 45 minutes after Gannett went public. In it, the company said it is not refusing to negotiate, but it needed time to get all its legal and financial ducks in a row.
“The Board is now engaged, with the assistance of its advisors, in a thorough review,” Tribune said. “The Board is committed to acting in the best interests of shareholders and will respond to Gannett as quickly as feasible.”
A merger would unite two big but troubled newspaper operators.
Tribune Publishing owns the Los Angeles Times, Chicago Tribune, Baltimore Sun, and other daily newspapers.
Gannett owns USA Today, the Detroit Free Press, Des Moines Register, Cincinnati Enquirer, and more than 100 other smaller local media brands.
Both Gannett and Tribune used to have big television station operations too, but the newspaper divisions were spun off as their own companies. So now the paper owners are more exposed in an increasingly difficult media climate.
Gannett has been seeking to get bigger. Earlier this year, the company acquired Journal Media Group, which includes the Milwaukee Journal Sentinel and the Commercial Appeal of Memphis.
“The challenges for our industry in the digital age continue,” Dickey wrote to Dearborn.
He continued: “By combining, we would create a company with the financial stability and flexibility equipped to preserve journalistic integrity, high standards and excellence for years to come. We would be able to both empower our journalists and facilitate the creation of exceptional content while delivering stockholder value.”
Dearborn has been on the job for just two months. He unexpectedly replaced Jack Griffin as CEO in February.
