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Tribune Media Co (TRCO.N)

TRCO.N on New York Stock Exchange

17 Nov 2017
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Latest Key Developments (Source: Significant Developments)

‍Moody's says looser local media ownership rules will benefit U.S. television broadcasters​
Thursday, 16 Nov 2017 03:53pm EST 

Nov 16 (Reuters) - Moody's‍::Moody's says looser local media ownership rules will benefit U.S. television broadcasters​.Moody's says U.S. Federal Communication Commission's decision to loosen local media ownership rules is credit positive for U.S. television broadcasters‍​.Moody's says under revised FCC rules, U.S. TV broadcasters to benefit from consolidation of local market ownership through acquisitions, station swaps.  Full Article

Tribune media company reports Q3 EPS of $0.31
Wednesday, 8 Nov 2017 04:15pm EST 

Nov 8 (Reuters) - Tribune Media Co :Tribune media company reports third quarter 2017 results.Q3 adjusted earnings per share $0.31.Q3 loss per share $0.21 from continuing operations.q3 revenue $450.5 million versus I/B/E/S view $461.1 million.Q3 earnings per share view $0.37 -- Thomson Reuters I/B/E/S.Operating results in quarter negatively impacted by higher program impairment charges at WGN America​.In light of previously announced transaction with Sinclair, co is not providing financial guidance for full year 2017​.  Full Article

Sinclair Broadcast Group Q3 earnings per share $0.30
Wednesday, 1 Nov 2017 07:31am EDT 

Nov 1 (Reuters) - Sinclair Broadcast Group Inc ::Sinclair reports year-to-date growth; reports third quarter 2017 financial results.Sees Q4 barter and trade revenue about $33 million.Q3 earnings per share $0.30.Q3 revenue $670.9 million versus I/B/E/S view $671.7 million.Q3 earnings per share view $0.39 -- Thomson Reuters I/B/E/S.Says ‍expects deal with Tribune will close in early 2018.Sees Q4 routine capital expenditures of about $29 million, with another $11 million of capex related to Spectrum Repack​.Says qtrly revenue included $3.1 million impact of hurricane season and other one-time adjustments​.  Full Article

Tribune Media says Bruce Karsh to step down from board
Tuesday, 31 Oct 2017 04:00pm EDT 

Oct 31 (Reuters) - Tribune Media Co :Bruce Karsh stepping down from Tribune Media Company board of directors.Tribune Media Co - ‍in light of pending Sinclair deal, co decided not to name a new chairman and will not be naming a new member to board at this time​.  Full Article

Tribune Media stockholders approve Sinclair Merger
Thursday, 19 Oct 2017 01:00pm EDT 

Oct 19 (Reuters) - Tribune Media Co ::Tribune Media Company stockholders approve Sinclair Merger.Tribune media - ‍more than 99 percent of votes cast by co's Class A stockholders and Class B stockholders voted to approve merger with Sinclair Broadcast.  Full Article

Sinclair may sell TV stations for up to $1 bln to satisfy FCC - Bloomberg
Tuesday, 17 Oct 2017 11:38am EDT 

Oct 17 (Reuters) - :Sinclair may sell TV stations for up to $1 billion to satisfy FCC - Bloomberg, citing sources.  Full Article

Tribune Media, members of board, and Sinclair Broadcast Group enters MOU
Friday, 15 Sep 2017 05:27pm EDT 

Sept 15 (Reuters) - Sinclair Broadcast Group Inc :Tribune Media - Co, members of board, Sinclair Broadcast Group entered MOU to resolve individual claims asserted by 4 purported Tribune shareholders​.Tribune Media - ‍MOU acknowledges that co filed certain supplemental disclosures with SEC on Aug. 16 - SEC filing.Tribune Media - ‍MOU will not affect timing of special meeting of co's shareholders, timing of merger,amount,form of consideration to be paid in merger​.Tribune Media - ‍MOU acknowledges co communicated to various parties that for potential divestitures, 'standstill' obligations of third parties were waived​.  Full Article

Sinclair Broadcast Group and Tribune Media announce filing of FCC response
Wednesday, 23 Aug 2017 11:01am EDT 

Aug 23 (Reuters) - Sinclair Broadcast Group Inc :Sinclair Broadcast Group and Tribune Media announce filing of fcc response.Tribune Media Co and Sinclair Broadcast Group filed joint opposition to petitions to deny merger of two companies.  Full Article

Tribune Media Q2 adjusted earnings per share $0.36
Wednesday, 9 Aug 2017 07:15am EDT 

Aug 9 (Reuters) - Tribune Media Co ::Tribune Media Company reports second quarter 2017 results.Q2 adjusted earnings per share $0.36.Q2 loss per share $0.34 from continuing operations.Q2 revenue $469.5 million versus I/B/E/S view $475.9 million.Q2 earnings per share view $0.41 -- Thomson Reuters I/B/E/S.Tribune Media Co - ‍in Q2 of 2017, company recorded a non-cash pretax impairment charge of $58.8 million or $0.51 per common share​.Tribune Media Co - remain on track to close previously announced transaction with Sinclair..Tribune Media - ‍in Q2, recorded impairment charge to further write down investment in careerbuilder.Tribune Media Co - in connection with Sinclair transaction, co not providing financial guidance for 2017, nor conducting a conf call regarding its Q2 results.Tribune Media Co - ‍"expect a much more profitable 2018 with more original hours than network has ever carried​".  Full Article

Sinclair says FCC denies motion for extension, additional information in Sinclair-Tribune merger
Monday, 7 Aug 2017 10:27am EDT 

Aug 7 (Reuters) - Sinclair Broadcast Group Inc : :Federal Communications Commission denies motion for extension and additional information in Sinclair-Tribune merger.On Aug 3, FCC issued order denying motion for additional information, documents, extension of time filed by Dish Network, among others.FCC action does not mean that Dish Network, American Cable Association, Public Knowledge cannot file against deal; expected that they will​.FCC agreed there was no justification to extend petition to deny period, was premature to extend reply period before petitions to deny have even been filed.  Full Article


U.S. regulator votes to loosen media ownership rules

WASHINGTON The U.S. Federal Communications Commission on Thursday voted to remove key roadblocks to increased consolidation among media companies, potentially unleashing new deals among TV, radio and newspaper owners as they seek to better compete with online media.