Tribune Company was founded in 1847. That year, on June 10, the Chicago Tribune published its first edition in a one-room plant located at LaSalle and Lake Streets. The original press run consisted of 400 copies printed on a hand press. In 1983, after 136 years of private ownership, Tribune became a public company with an initial offering of 7.7 million shares valued at $206 million. The opening price per share was $26.75. The company's New York Stock Exchange ticker symbol was TRB. In December of 2007, Tribune returned to private ownership through a leveraged transaction led by Sam Zell. In late 2008, following a severe downturn in the economy and a prolonged advertising slump, Tribune filed for protection under Chapter 11 of the U.S. Bankruptcy Code.