To counteract a possible hostile corporate takeover in 1987, the Tribune Company developed a plan that allowed shareholders the right to purchase additional preferred shares from a new series of stock in the event that a buyer acquired 10% of the company's common stock or a tender offer for the company. Shareholders also ratified a two-for-one stock split. Tribune Entertainment experienced success in 1987 with the launch of the syndicated daytime talk show "Geraldo". In 1988, Tribune purchased five weekly papers based in Santa Clara County, California. In the wake of a dispute with some of its labor unions, Tribune sold the "Daily News" to British businessman Robert Maxwell in 1991.