Taking stock of Tribune
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.