Tribune Media, which revealed last week that it is exploring strategic options, is more likely to sell itself off piece by piece than in one transaction, Bloomberg reports, noting that there are plenty of potential buyers who are interested in various assets.
“While Tribune would prefer a single buyer for tax purposes, the company is more likely to sell itself in pieces, according to people familiar with the matter, who asked not to be named because the discussions are private,” Bloomberg reports.
The report adds: “Meredith Corp. is interested in buying some of Tribune’s broadcast TV stations, according to two of the people, and would be particularly keen on some of the 19 stations Tribune added when it acquired Local TV in 2013, one of the people said.”
The report notes that Scripps Networks Interactive is “the most logical buyer” for Tribune’s 31% stake in the Food Network. “Tribune has a market value of about $3.6 billion and an enterprise value of about $7 billion,” the report adds.
Please click on the link near the top of this story to read the full report by Bloomberg.