The Cubs announced Friday via press release that they had completed their purchase of the small percentage of the team still owned by Tribune Company. Here is the entire text of the release:
Tribune Media Company (NYSE: TRCO) and the Chicago Cubs today announced that Chicago Entertainment Ventures, LLC, the Cubs’ parent company, has completed the purchase of Tribune’s remaining five percent membership interests in Chicago Entertainment Ventures, LLC. The transaction occurred pursuant to the exercise of a purchase right under the parties’ agreements and concludes Tribune’s ownership interest in the Cubs and their affiliates.