Tribune Hangs For Sale Sign Outside WGN Studio
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The Tribune company is looking to sell off the WGN studios.
The company is looking to sell WGN's North Side studios and offices according to Robert Feder.
Opened in 1961, the headquarters of WGN occupies a 132,000 square-foot building on a 10 acre lot.
Greg Easterly, president and general manager of WGN, assured employees that a sale would have “no impact” on day-to-day operations of the station for the foreseeable future.
“Any sale of our building would include a long-term lease enabling us to continue to operate here, just as we have for years,” Easterly told staffers in a memo. “Nothing will really change IF the property is sold, other than we go from owning the building to renting the building. Same broadcasts, same location, same work.”
Tribune which crawled out of bankruptcy after then owner Sam Zell ran it into the ground, seems to believe that they can cash a big check with the real estate they own.
Stay tuned.....
