In 1983, "The Suburban Trib" was replaced by zone editions of the "Chicago Tribune". That October, the Tribune Company became a public firm, with the sale of 7.7 million shares at $26.75 a share. In 1985, Tribune Broadcasting acquired Los Angeles independent station KTLA from Kohlberg Kravis Roberts for a record $510 million. Because of the Federal Communications Commission's media cross-ownership regulations, which prohibit the ownership of a television station and newspaper in the same market, Tribune was forced to sell the "Los Angeles Daily News". With the purchase of KTLA, Tribune became the fourth largest television station owner in the United States, behind the three major broadcast networks. The company acquired Newport News, Virginia newspaper, the "Daily Press" in 1986, but sold off the newspaper's co-owned cable television operations.