Tribune Co. on Wednesday formed a new group to bring together the interactive functions of its four newspapers, 17 television stations and other Internet publishing activities.
The group will develop new Internet products and services and continue building interactive sites in Chicago, Orlando, South Florida and Hampton Roads, Va.
“We have great potential for creating a profitable business opportunity,” said John W. Madigan, Tribune chairman, president and chief executive officer. “The future of interactive is so important that the time has come for it to take its place beside the publishing, broadcast and education lines of business within Tribune Company.”
Tribune Interactive, based in Chicago, will take over responsibility for most of the company’s approximately 200 World Wide Web sites, according to Jeff R. Scherb, Tribune Co.’s senior vice president and chief technology officer.
At the outset, the new unit will have 350 to 400 employees, a scale of 33 million page views per month and annual revenues of $25 million to $30 million, he said.
Scherb will lead the group, while retaining his role as corporate chief technology officer.
Combining the interactive businesses will give Tribune a significant competitive advantage, providing cost efficiencies and greater reach for advertisers, Scherb said.
