Tribune Co. renamed Tribune Media Co.

CHICAGO (WLS) -- The Tribune Company announced Monday that it has completed the spin-off of its publishing business and is now operating the name Tribune Media Company. The company announced plans to separate its television and print businesses a year ago, and its newspaper arm will be called Tribune Publishing Company.

Tribune Media Company houses broadcast and digital properties including Tribune Broadcasting, WGN America, Tribune Studios, Tribune Digital Ventures, WGN Radio in Chicago and Tribune Real Estate.

"In the last year, we have executed a strategy to embrace a rapidly changing media environment," said Peter Liguori, President and CEO of Tribune Media Company. "The result is a rich and diverse portfolio of media properties and the birth today of Tribune Media Company."

The Associated Press contributed to this report.