Company to receive approximately $158 million in cash
Jul 31, 2017
CHICAGO, July 31, 2017 /PRNewswire/ -- Tribune Media Company (NYSE: TRCO) today announced that it has sold the majority of its ownership stake in CareerBuilder, as TEGNA completed the sale of CareerBuilder to an investor group led by investment funds managed by affiliates of Apollo Global Management (NYSE: APO), a leading global alternative investment manager, and the Ontario Teachers' Pension Plan Board. As a participant in the sale, Tribune Media will receive approximately $158 million in cash and will retain an approximate 7 percent ownership stake in CareerBuilder on a fully-diluted basis.
Tribune Media Company (NYSE: TRCO) is home to a diverse portfolio of television and digital properties driven by quality news, entertainment and sports programming. Tribune Media is comprised of Tribune Broadcasting's 42 owned or operated local television stations reaching approximately 50 million households, national entertainment cable network WGN America, whose reach is approximately 80 million households, Tribune Studios, and a variety of digital applications and websites commanding 60 million monthly unique visitors online. Tribune Media also includes Chicago's WGN-AM and the national multicast networks Antenna TV and THIS TV. Additionally, the Company owns and manages a significant number of real estate properties across the U.S. and holds a variety of investments, including a 31% interest in Television Food Network, G.P., which operates Food Network and Cooking Channel. For more information please visit www.tribunemedia.com.
SOURCE Tribune Media Company
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