Taking stock of Tribune

By on Sep, 23 2014 with Comments 0

Tribune BroadcastingThe paperwork is into the Securities and Exchange Commission, the next step on route to Tribune Media Company’s entrance onto a major stock exchange. It is currently traded over the counter.

According to an All Access report, 94M Class A shares are out there, along with 3M Class B shares and 3.5M warrants that can convert to Class A stock. Former creditors of the company hold 36% of the shares. Included in that group are Oaktree Capital Management, Angelo, Gordon & Co., and JP Morgan Chase.

Tribune stated, “We believe our diverse portfolio of assets distinguishes us from traditional pure-play broadcasters through our ownership of high-quality original and syndicated programming, our ability to capitalize on revenue growth from our data and real estate assets, and cash distributions from our equity investments.”

Tribune, primarily a television company with radio and real estate holdings, is not as diverse as it used to be, of course, having severed its co-owned relationship with the former company’s newspapers.

About The Author: RBR+TVBR has been reporting on the business of broadcasting for nearly three decades. Beholden to no one, it is independently owned.

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