Tribune Media Company, through its subsidiaries, operates as a media and entertainment company in the United States. The company operates through two segments, Television and Entertainment, and Digital and Data. The Television and Entertainment segment provides news, entertainment, and sports programming through Tribune Broadcasting local television stations, including FOX television affiliates, CW television affiliates, CBS television affiliates, ABC television affiliates, NBC television affiliates, and independent television stations; and television series and movies on WGN America, a national general entertainment network. This segment also operates Antenna TV and THIS TV, a digital multi...
435 North Michigan Avenue
Chicago, IL 60611
Founded in 1847
Tribune Media and ATTN Announce Strategic Partnership and Investment
Nov 16 16
Tribune Media Company and ATTN announced a strategic partnership that significantly expands Tribune's reach with audiences who rely primarily on content viewed on social and mobile platforms to stay informed. Tribune also announced an investment in ATTN:, the issue-driven media company reaching millions of people every day with original content specifically programmed for social platforms. Financial terms were not disclosed. Under terms of the agreement, Tribune becomes ATTN:'s local media strategic partner, providing ATTN: access to its rich library of video assets for use in the development of original content. As part of the new relationship, Tribune will distribute and monetize ATTN: video content across its television and digital properties. In addition, both companies will develop and co-produce content to reach audiences across multiple platforms.
Tribune Media Company Declares Quarterly Cash Dividend, Payable on December 6, 2016
Nov 9 16
On November 3, 2016, the board of Tribune Media Company declared quarterly cash dividend on the company's common stock of $0.25 per
share to be paid on December 6, 2016 to holders of record of the company's common stock and warrants as of November 21, 2016.
Tribune Media Company Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended of September 30, 2016; Provides Earnings Guidance for the Full Year of 2016
Nov 9 16
Tribune Media Company reported unaudited consolidated earnings results for the third quarter and nine months ended of September 30, 2016. For the quarter, the company’s operating revenues were $518.1 million compared to $488.6 million in the third quarter of 2015, representing an increase of $29.5 million, or 6%. The increase was primarily driven by political advertising, retransmission consent, carriage fee and digital advertising revenues and an increase in Digital and Data revenues, partially offset by a decrease in real estate revenues as a result of the sales of certain properties in 2016. Operating profit was $222.4 million compared to $38.8 million for the third quarter of 2015, representing an increase of $183.6 million. The increase was primarily attributable to gains recorded on the sales of certain real estate properties, partially offset by lower Television and Entertainment operating profit primarily due to a $37 million program impairment charge and higher severance expense, higher operating losses for Digital and Data and higher corporate costs. Net income was $145.8 million compared to net income of $27.9 million in the third quarter of 2015. Diluted earnings per common share were $1.61 compared to $0.29 for the third quarter of 2015. Adjusted diluted earnings per share were $0.48 compared to $0.28 for the third quarter of 2015. Adjusted EBITDA increased to $130.4 million from $112.1 million in the third quarter of 2015, representing an increase of $18.2 million, or 16%. Income before income taxes was $212,193,000 compared to $39,172,000 a year ago.
For the nine months ended September 30, 2016, the company’s operating revenues were $1,564.7 million compared to $1,462.9 million in the nine months ended September 30, 2015, representing an increase of $101.8 million, or 7%. Operating profit increased $176.2 million to $295.8 million from $119.5 million in the nine months ended September 30, 2015. Net loss was $4.7 million compared to net income of $61.0 million for the nine months ended September 30, 2015. Diluted loss per common share was $0.05 compared to diluted earnings per share of $0.63 for the nine months ended September 30, 2015. Adjusted EPS was $1.09 compared to $0.87 for the nine months ended September 30, 2015. Adjusted EBITDA increased $30.3 million, or 9%, to $363.7 million as compared to $333.4 million in the nine months ended September 30, 2015. Income before income taxes was $284,231,000 compared to $93,933,000 a year ago. Net cash provided by operating activities was $186,540,000 compared to $7,925,000 a year ago. Capital expenditures were $61,855,000 compared to $63,775,000 a year ago.
For full year 2016, the company expects revenues to be between $2.147 billion and $2.179 billion. Adjusted EBITDA expected to be between $565 million and $585 million. Capital expenditures expected to be approximately $107 million.