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Article: Madigan's biggest move: Legacy centers on Times Mirror purchase.(Brief Article)
- Article from:
- Crain's Chicago Business
- Article date:
- March 20, 2000
- Author:
CopyrightCOPYRIGHT 2000 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Looking every bit the picture of an old-economy CEO -- tall, lean and always crisply dressed in a dark suit and starched shirt -- John W. Madigan is making the boldest play of his career.
With last week's $8-billion deal to acquire Los Angeles-based Times Mirror Co., the 62-year old Mr. Madigan is taking Tribune Co. into a world that founder Col. Robert R. McCormick never could have imagined. It's also a trip that few observers thought the solid but graying newspaper and broadcast chain would ever make.
The purchase brings the Los Angeles Times and Newsday in suburban New York into the Tribune fold, where they'll be critical cogs in plans to build ...