April 23, 2018 11:44 PM ET

Media

Company Overview of Tribune Media Company

Company Overview

Tribune Media Company, through its subsidiaries, operates as a media and entertainment company in the United States. It offers news, entertainment, and sports programming through Tribune Broadcasting local television stations, including FOX television affiliates, CW Network, LLC television affiliates, CBS television affiliates, ABC television affiliates, MY television affiliates, NBC television affiliates, and independent television stations; and television series and movies on WGN America, a national general entertainment cable network. The company also operates Antenna TV and THIS TV digital multicast networks; a production studio; Screener, an entertainment Website; and WGN 720 AM, a radi...

515 North State Street

Chicago, IL 60654

United States

Founded in 1847

6,000 Employees

Phone:

646-563-8296

Key Executives for Tribune Media Company

Tribune Media Company does not have any Key Executives recorded.

Tribune Media Company Key Developments

Tribune Media Company Declares Quarterly Cash Dividend, Payable on March 26, 2018

On February 21, 2018, the Board of Directors of Tribune Media Company declared a quarterly cash dividend on the company's common stock of $0.25 per share to be paid on March 26, 2018 to holders of record of the Company's common stock and warrants as of March 12, 2018.

Tribune Media Company Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2017

Tribune Media Company reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2017. For the quarter, the company reported total operating revenues of $488.999 million against $529.624 million a year ago, representing a decrease of $40.6 million, or 8%. The decrease was primarily driven by lower political advertising revenue, partially offset by increases in core advertising and retransmission revenues. Operating profit was $129.123 million against $113.206 million a year ago, representing an increase of $15.9 million. The increase was primarily attributable to higher gains on the sales of real estate and lower operating expenses, partially offset by the decline in operating revenues. Income from continuing operations before income taxes was $113.032 million against $114.007 million a year ago. Income from continuing operations was $332.799 million or $3.73 per diluted share against $70.727 million or $0.81 per diluted share a year ago. Net income attributable to the company was $328.802 million or $3.72 per diluted share against $18.951 million or $0.22 per diluted share a year ago. Adjusted EBITDA was $169.086 million against $181.539 million a year ago. Adjusted diluted EPS was $0.81 against $0.85 a year ago. Consolidated Adjusted EBITDA decreased 7% primarily attributable to lower political advertising, partially offset by higher core advertising and retransmission revenues as well as lower programming, compensation and other expenses. For the year, the company reported total operating revenues of $1,848.959 million against $1,947.930 million a year ago. Operating profit was $108.468 million against $433.574 million a year ago, representing a decrease of $325.1 million, primarily due to lower gains on the sales of real estate in 2017 as compared to 2016, lower Television and Entertainment operating profit primarily as a result of lower advertising revenues and higher programming expenses, and higher transaction-related expenses. Loss from continuing operations before income taxes was $118.296 million against income from continuing operations before income taxes of $434.242 million a year ago. Income from continuing operations was $183.077 million or $2.04 per diluted share against $87.040 million or $0.96 per diluted share a year ago. Net income attributable to the company was $194.119 million or $2.20 per diluted share against $14.246 million or $0.16 per diluted share a year ago. Net cash provided by operating activities was $222.502 million against $284.163 million a year ago. Capital expenditures were $66.832 million against $99.659 million a year ago. Adjusted EBITDA was $441.890 million against $531.083 million a year ago. Adjusted diluted EPS was $1.41 against $2.13 a year ago.

Sinclair To Reportedly Sell WPIX And WGN To Secure FCC Approval For Tribune Media Deal

Sinclair Broadcast Group, Inc. (NasdaqGS:SBGI) is planning to sell WPIX, Inc. and WGN Continental Broadcasting Company to help secure FCC approval for its $3.9 billion takeover of Tribune Media Company (NYSE:TRCO) but will still operate the properties, Bloomberg reports, citing a Sinclair filing.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
February 28, 2018
Stations in New York and Chicago of Tribune Media Company
Merger/Acquisition
December 20, 2017
1.4 Acre Site At 200 East Las Olas Boulevard
Merger/Acquisition
May 8, 2017
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