Tribune Media 8-K Tribune Prices $780 Million Notes Offering

Exhibit 12.1

TRIBUNE COMPANY AND SUBSIDIARIES

COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES

(In thousands, except ratios)

	First Half
	Ended			Fiscal Year Ended
	6/26/2005			2004			2003			2002		2001		2000
Income from continuing operations, before cumulative effect of accounting change	$	376,237		$	573,324		$	891,379		$	608,579	$	111,136	$	310,401
Add:
Income tax expense	221,329			367,787			523,857			331,376		157,815		270,351
(Income) loss on equity investments	(12,368		)	(17,931		)	(5,590		)	40,875		60,813		79,374
Distributed income from equity investees	13,718			14,439			16,810			12,567		21,784		9,693
Minority interest expense, net of tax	—			—			—			—		—		16,335
Subtotal	598,916			937,619			1,426,456			993,397		351,548		686,154
Fixed charge adjustments
Add:
Interest expense	70,458			153,118			198,123			213,309		254,521		240,708
Amortization of capitalized interest	1,579			3,070			3,224			3,269		2,989		4,012
Interest component of rental expense (1)	9,955			18,801			20,720			22,503		22,853		18,620
Earnings, as adjusted	$	680,908		$	1,112,608		$	1,648,523		$	1,232,478	$	631,911	$	949,494
Fixed charges:
Interest expense	$	70,458		$	153,118		$	198,123		$	213,309	$	254,521	$	240,708
Interest capitalized	2,240			2,511			383			2,383		3,184		1,950
Interest component of rental expense (1)	9,955			18,801			20,720			22,503		22,853		18,620
Interest related to guaranteed ESOP debt (2)	—			—			2,836			5,565		8,191		10,718
Total fixed charges	$	82,653		$	174,430		$	222,062		$	243,760	$	288,749	$	271,996
Ratio of earnings to fixed charges	8.2			6.4			7.4			5.1		2.2		3.5

(1)Represents a reasonable approximation of the interest cost component of rental expense incurred by the Company.

(2)Tribune Company guarantees the debt of its Employee Stock Ownership Plan (“ESOP”).  The notes issued by the Company’s ESOP matured on Dec. 16, 2003 and were fully repaid.