Tribune Co. Buys Chicago Magazine
Chicago Tribune Co. purchased Chicago magazine from Primedia through an affiliate for $35 million in cash. The magazine will maintain its independence and retain its editorial and advertising sales staff, the Tribune Co. said.
Chicago combines a mix of topical news features with guides to shopping, real estate and restaurants throughout the city. The magazine's circulation is 182,000 and reaches 1.5 million readers. Publisher John Carroll and editor Richard Babcock will continue in their current positions.
"Chicago magazine adds another dimension to Tribune's array of local media choices," said Scott Smith, president and chief executive officer of Chicago Tribune Co. "It is a leader in providing entertainment and other helpful information to its readers [while] delivering results for advertisers who target this audience."
The Tribune Co. acquired the magazine as another way to meet the city's information needs and is not part of the company's corporate strategy, said Dennis FitzSimons, president and chief operating officer.
"This acquisition allows Chicago Tribune to continue expanding the ways in which it serves local readers and advertisers," said FitzSimons, "as it does through several other targeted publications it owns and operates."
The magazine was founded in 1952 and acquired by Primedia in 1995.