content: SECURITIES AND EXCHANGE COMMISSION
                            WASHINGTON, D.C. 20549
  
                                  FORM 8-K
                               CURRENT REPORT
  
  
                    Pursuant to Section 13 or 15(d) of the
                       Securities Exchange Act of 1934
  
  
                               March 25, 1994
                               --------------
                               Date of Report
  
  
                              TRIBUNE COMPANY
                              ---------------
           (Exact name of registrant as specified in its charter)
  
                                 Delaware
                                 --------
               (State or other jurisdiction of incorporation)
  
  
          1-8572                           36-1880355 
          ------                           ----------
  (Commission File Number)     (IRS Employer Identification No.)
  
  
  435 North Michigan Avenue, Chicago, Illinois             60611 
  - --------------------------------------------             ----- 
   (Address of principal executive offices)              (Zip Code)
  
  
  Registrant's telephone number, including area code (312) 222-9100
  
  <PAGE>
  ITEM 5.   OTHER EVENTS
  - ----------------------
      On March 23, 1994, Tribune Company announced that it agreed to sell 5.5
  million shares of QUNO Corporation common stock at C$24.75 per share for
  gross proceeds of approximately C$136 million or US$100 million.  The
  transaction is scheduled to close in mid-April. Wood Gundy Inc. leads the
  syndicate of underwriters that agreed to purchase the shares and will be
  offering the shares to the public. With this sale, Tribune will reduce its
  equity interest in QUNO's common shares from 59% to 34%.  QUNO is one of
  Canada's major newsprint producers.  The Company retains ownership of 7.5
  million shares of QUNO's total 22 million shares outstanding.  Tribune
  also holds a US$138.8 million subordinated debenture, convertible into 11.7
  million voting common shares of QUNO.  
  
      Tribune expects to record a gain on the transaction in the second quarter
  of 1994. The amount of the gain will depend in part on the Canadian dollar
  exchange rate at the date of closing, expected to occur in mid-April.  Based
  on a Canadian dollar exchange rate of $.7343, the after-tax gain would be
  approximately $11-12 million, or $.17-.19 per share on a primary basis.  
  
      On February 17, 1993, QUNO completed an initial public offering of 9
  million shares of its common stock at a price to the public of C$15.00 per
  common share.  At the conclusion of the offering, Tribune held 8.8 million,
  or 49%, of the voting common shares and 4.2 million non-voting common shares,
  for a combined total of 59% of QUNO's total 22 million outstanding common
  shares.  As Tribune's voting interest was less than 50% after the initial
  public offering, Tribune used the equity method of accounting for its
  investment in QUNO beginning in 1993.
  
  
  
  ITEM 7.  FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS
           ------------------------------------------------------------------  
  
  (c)      Exhibits
  
            (i) Press Release issued by Tribune Company on March 23, 1994. 
  
  <PAGE>      
                              SIGNATURES
  
  
      Pursuant to the requirements of the Securities Exchange Act of 1934, the
  registrant has duly caused this report to be signed on its behalf by the
  undersigned thereunto duly authorized.
  
  
  
                         TRIBUNE COMPANY
  
  
  
  
                         By   R. Mark Mallory       
                              ---------------
                              R. Mark Mallory, Vice President and
                              Controller
  
  
  March 25, 1994 
  
  <PAGE>
                            EXHIBIT INDEX
  
  
  
  EXHIBIT NO.                     DESCRIPTION
  - -----------                     -----------
  
  (i)   Press Release issued by Tribune Company on March 23, 1994.
  
  
  <PAGE>
                                              Exhibit i
                             TRIBUNE
  
  
  TRIBUNE WILL SELL 5 1/2 MILLION SHARES OF QUNO COMMON STOCK FOR C$136 MILLION
                      (APPROXIMATELY US$100 MILLION)
  
  CHICAGO, Wed., Mar. 23, 1994 -- Tribune Company will further reduce its
  holdings in QUNO Corporation, one of Canada's major producers of newsprint,
  by agreeing today to sell 5 1/2 million shares of common stock at C$24.75 per
  share for gross proceeds of approximately C$136 million (US$100 million).
  The transaction is scheduled to close in two to three weeks. 
  
  With this sale, Tribune will reduce its equity interest in QUNO from 59
  percent to 34 percent and on a fully diluted basis from 73 percent to 57
  percent.
  
  In February 1993, QUNO Corporation, a former wholly owned subsidiary of
  Tribune, completed its initial public offering in Canada of 9 million common
  shares at C$15 per share. That offering represented 51 percent of the voting
  common equity shares and 27 percent of the equity of QUNO on a fully diluted
  basis.
  
  As a result of the sale, Tribune will hold 7.5 million of the 22 million
  common shares outstanding.  Tribune also holds a US$138.8 million
  subordinated debenture, convertible into 11.7 million voting common shares
  of QUNO.
  
  QUNO operates two paper mills, one at Thorold, Ontario, and the other at
  Baie-Comeau, Quebec.  QUNO's sales are to newspaper publishers and commercial
  printers primarily in the United States and Canada.  QUNO also owns and
  operates a sawmill at Baie-Comeau and recycling operations in Toronto, and
  owns a 60 percent interest in a hydroelectric generating station at
  Baie-Comeau.  QUNO employs approximately 2,500 people.
  
  Wood Gundy Inc. leads the syndicate of underwriters that agreed to purchase
  the shares and will be offering the shares to the public. 
  
  Tribune is a leading information and entertainment company.  Tribune
  publishes six daily newspapers, operates seven television and six radio
  stations, produces and syndicates information and programming, publishes
  books and information in print and digital formats, and has the ownership
  interest in QUNO. 
  
  
  MEDIA AND INVESTOR CONTACTS:
  Tribune Company                              QUNO Corporation
  Joseph A. Hays                               Garry W. Smith
  Office:  312/222-3237                        Office: 905/641-4378
metadata_documents: [{"type": "8-K", "sequence": "1", "description": "FILING FOR SALE OF QUNO STOCK", "secsgml_size_bytes": 6246}]
metadata_filer: {"company-data": {"conformed-name": "TRIBUNE CO", "cik": "0000726513", "assigned-sic": "2711", "irs-number": "361880355", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-08572", "film-number": "94518135"}, "business-address": {"street1": "435 N MICHIGAN AVE", "city": "CHICAGO", "state": "IL", "zip": "60611", "phone": "3122229100"}}
text: SECURITIES AND EXCHANGE COMMISSION
                            WASHINGTON, D.C. 20549
  
                                  FORM 8-K
                               CURRENT REPORT
  
                    Pursuant to Section 13 or 15(d) of the
                       Securities Exchange Act of 1934
  
                               March 25, 1994
                               --------------
                               Date of Report
  
                              TRIBUNE COMPANY
                              ---------------
           (Exact name of registrant as specified in its charter)
  
                                 Delaware
                                 --------
               (State or other jurisdiction of incorporation)
  
          1-8572                           36-1880355 
          ------                           ----------
  (Commission File Number)     (IRS Employer Identification No.)
  
  435 North Michigan Avenue, Chicago, Illinois             60611 
  - --------------------------------------------             ----- 
   (Address of principal executive offices)              (Zip Code)
  
  Registrant's telephone number, including area code (312) 222-9100
  ITEM 5.   OTHER EVENTS
  - ----------------------
      On March 23, 1994, Tribune Company announced that it agreed to sell 5.5
  million shares of QUNO Corporation common stock at C$24.75 per share for
  gross proceeds of approximately C$136 million or US$100 million.  The
  transaction is scheduled to close in mid-April. Wood Gundy Inc. leads the
  syndicate of underwriters that agreed to purchase the shares and will be
  offering the shares to the public. With this sale, Tribune will reduce its
  equity interest in QUNO's common shares from 59% to 34%.  QUNO is one of
  Canada's major newsprint producers.  The Company retains ownership of 7.5
  million shares of QUNO's total 22 million shares outstanding.  Tribune
  also holds a US$138.8 million subordinated debenture, convertible into 11.7
  million voting common shares of QUNO.  
  
      Tribune expects to record a gain on the transaction in the second quarter
  of 1994. The amount of the gain will depend in part on the Canadian dollar
  exchange rate at the date of closing, expected to occur in mid-April.  Based
  on a Canadian dollar exchange rate of $.7343, the after-tax gain would be
  approximately $11-12 million, or $.17-.19 per share on a primary basis.  
  
      On February 17, 1993, QUNO completed an initial public offering of 9
  million shares of its common stock at a price to the public of C$15.00 per
  common share.  At the conclusion of the offering, Tribune held 8.8 million,
  or 49%, of the voting common shares and 4.2 million non-voting common shares,
  for a combined total of 59% of QUNO's total 22 million outstanding common
  shares.  As Tribune's voting interest was less than 50% after the initial
  public offering, Tribune used the equity method of accounting for its
  investment in QUNO beginning in 1993.
  
  ITEM 7.  FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS
           ------------------------------------------------------------------  
  
  (c)      Exhibits
  
            (i) Press Release issued by Tribune Company on March 23, 1994.
  SIGNATURES
  
      Pursuant to the requirements of the Securities Exchange Act of 1934, the
  registrant has duly caused this report to be signed on its behalf by the
  undersigned thereunto duly authorized.
  
                         TRIBUNE COMPANY
  
                         By   R. Mark Mallory       
                              ---------------
                              R. Mark Mallory, Vice President and
                              Controller
  
  March 25, 1994
  EXHIBIT INDEX
  
  EXHIBIT NO.                     DESCRIPTION
  - -----------                     -----------
  
  (i)   Press Release issued by Tribune Company on March 23, 1994.
  Exhibit i
                             TRIBUNE
  
  TRIBUNE WILL SELL 5 1/2 MILLION SHARES OF QUNO COMMON STOCK FOR C$136 MILLION
                      (APPROXIMATELY US$100 MILLION)
  
  CHICAGO, Wed., Mar. 23, 1994 -- Tribune Company will further reduce its
  holdings in QUNO Corporation, one of Canada's major producers of newsprint,
  by agreeing today to sell 5 1/2 million shares of common stock at C$24.75 per
  share for gross proceeds of approximately C$136 million (US$100 million).
  The transaction is scheduled to close in two to three weeks. 
  
  With this sale, Tribune will reduce its equity interest in QUNO from 59
  percent to 34 percent and on a fully diluted basis from 73 percent to 57
  percent.
  
  In February 1993, QUNO Corporation, a former wholly owned subsidiary of
  Tribune, completed its initial public offering in Canada of 9 million common
  shares at C$15 per share. That offering represented 51 percent of the voting
  common equity shares and 27 percent of the equity of QUNO on a fully diluted
  basis.
  
  As a result of the sale, Tribune will hold 7.5 million of the 22 million
  common shares outstanding.  Tribune also holds a US$138.8 million
  subordinated debenture, convertible into 11.7 million voting common shares
  of QUNO.
  
  QUNO operates two paper mills, one at Thorold, Ontario, and the other at
  Baie-Comeau, Quebec.  QUNO's sales are to newspaper publishers and commercial
  printers primarily in the United States and Canada.  QUNO also owns and
  operates a sawmill at Baie-Comeau and recycling operations in Toronto, and
  owns a 60 percent interest in a hydroelectric generating station at
  Baie-Comeau.  QUNO employs approximately 2,500 people.
  
  Wood Gundy Inc. leads the syndicate of underwriters that agreed to purchase
  the shares and will be offering the shares to the public. 
  
  Tribune is a leading information and entertainment company.  Tribune
  publishes six daily newspapers, operates seven television and six radio
  stations, produces and syndicates information and programming, publishes
  books and information in print and digital formats, and has the ownership
  interest in QUNO. 
  
  MEDIA AND INVESTOR CONTACTS:
  Tribune Company                              QUNO Corporation
  Joseph A. Hays                               Garry W. Smith
  Office:  312/222-3237                        Office: 905/641-4378