Tribune Company picks Lewisville as home for new administrative subsidiary
Tribune Company announced this week that its new subsidiary, Blue Lynx Media, has opened a shared service center in Lewisville where it is expected to provide jobs for as many as 200 new employees.
The city’s Economic Development office was involved in the competitive site selection process that also considered other locations in North Texas, Chicago and Indianapolis.
“This is just another example of how strong Lewisville is in a very competitive business environment,” said Mayor Dean Ueckert. “Lewisville is a great place to live, work and operate a business, and each new major employer that comes to town makes us an even stronger force in North Texas and throughout the country.”
Blue Lynx Media will conduct the parent company's back-office operations, consolidating work currently being performed in various locations across the country. The company estimates that implementation of the shared service center will save Tribune tens of millions annually. Blue Lynx Media will initially focus on financial responsibilities and systems administration.
“Centralizing financial transactional processing in a low-cost manner is key to Tribune gaining efficiencies,” said Nick Cory, president of Blue Lynx Media. “In addition, the establishment of a shared service center allows us to reallocate some of our finance resources, enabling us to compete on analytics.”
The transition of all financial transactions to the Lewisville center will take place over the course of the next 18 months. Company officials said Tribune selected ConVergence Office Campus in Lewisville because of its value and location.
Tribune is one of the country's leading multimedia companies, operating businesses in publishing, interactive and broadcasting. In publishing, Tribune's leading daily newspapers include the Los Angeles Times, Chicago Tribune, The Baltimore Sun, Sun Sentinel (South Florida), Orlando Sentinel, Hartford Courant, The Morning Call and Daily Press. The company's broadcasting group operates 23 television stations, WGN America on national cable and Chicago's WGN-AM.
Posted on 08-18-2010 | 