Chicago Tribune

Tribune Media Explores Sale of Assets

Mar 1, 2016  •  Post A Comment

Tribune Media, which includes 42 TV stations and WGN America among its assets, is exploring the sale of some assets, the Chicago Tribune reports. The move by the company, which put the Tribune Tower up for sale last year, comes as the media company reported a fourth-quarter loss of $381 million, or $4.07 per share.

“The Chicago-based television and entertainment company announced Monday it has hired Moelis & Co. and Guggenheim Securities as financial advisers to explore a possible ‘sale or separation of select lines of business’ in a bid to enhance shareholder value,” the paper reports.

On Monday’s earnings call, Tribune Media President and CEO Peter Liguori indicated no assets have been ruled out, saying: “We’re going on a process … to explore every strategic financial option with just one simple, clear goal — unlock the value of our stock.”

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