46.66 0.00 (0.00%)
Pre-Market: 8:38AM EDT
|Bid||46.64 x 4000|
|Ask||46.67 x 2900|
|Day's Range||46.62 - 46.67|
|52 Week Range||36.66 - 46.67|
|Beta (3Y Monthly)||0.02|
|PE Ratio (TTM)||11.40|
|Forward Dividend & Yield||1.00 (2.14%)|
|1y Target Est||N/A|
The Federal Communications Commission on Monday said it voted to approve Nexstar Media Group Inc's acquisition of Tribune Media Co in a $6.4 billion deal. The 3-to-2 vote follows the U.S. Justice Department's announcement in July that it had approved the deal, saying the companies had to divest television stations in 13 markets to resolve antitrust concerns. Nexstar said in December it had agreed to buy Chicago-based Tribune for $4.1 billion in a deal valued at $6.4 billion, including debt, that would make it the largest regional U.S. television station operator.
Federal Communications Commission chairman Ajit Pai on Friday sought approval from his colleagues to order the go ahead for Nexstar Media Group Inc's acquisition of Tribune Media Co in a $6.4 billion tie-up, a spokeswoman for the agency said. Last month, the U.S. Justice Department approved the deal, saying the companies must divest television stations in 13 markets to resolve antitrust concerns. Pai's order circulated Friday needs the consent of a majority of the five-member FCC.
Channel 2's late local newscast already was struggling, and new woes just recently resolved only look to have made the situation worse.
The portfolio's extensive footprint includes exclusive local rights to 42 professional teams consisting of 14 MLB teams, 16 NBA teams and 12 NHL teams.
Tribune Media (NYSE: TRCO ) reported second-quarter earnings of 79 cents per share, which beat the analyst consensus estimate of 73 cents by 8.22%. This is a 17.71% decrease over earnings of 96 cents per ...
Tribune Media Co. reported Friday a second-quarter profit that beat expectations but revenue that fell shy, weighed down by a decline in political advertising TV revenue. Net income fell to $63.7 million, or 71 cents a share, from $84.4 million, or 96 cents a share, in the year-ago period. Excluding non-recurring items, adjusted EPS declined to 79 cents from 99 cents, but was above the FactSet consensus of 71 cents. Total revenue fell 1% to $484.0 million, just below the FactSet consensus of $484.3 million. TV and entertainment revenue slipped by $3.9 million, or 1%, to $482.6 million, as political advertising revenue fell $17.6 million and "other" revenue declined $6.4 million, while retransmission revenue rose $15.2 million, core ad revenue increased $2.2 million and digital ad revenue grew $2.9 million. The company said it would not provide 2019 guidance or conduct a post-results conference call, given the proposed acquisition of Nexstar. The stock, which was still inactive in premarket trading, has gained 2.6% year to date, while the S&P 500 has run up 17.2%.
TV outfit Tribune Media beat Wall Street's second-quarter earnings expectations. Wall Street was expecting earnings of 73 cents. Tribune is planning on merging with Nexstar Media Group , pending approval by regulators.
The New York Times Company (NYT) register higher digital-only subscriptions during the second quarter of 2019. The company has set a goal to reach 10 million total subscriptions by 2025.
Moody's Investors Service ("Moody's") affirmed Scripps (E.W.) Company (The)'s ("Scripps") B1 corporate family rating (CFR) and B1-PD probability of default rating (PDR). Concurrently, Moody's upgraded the rating on the company's senior secured bank credit facility to Ba2 from Ba3 and affirmed the B3 rating on the company's senior unsecured notes.
Twenty years ago, Jason Mudrick launched his own distressed credit and event driven-oriented hedge fund, Mudrick Capital Management. The fund is headquartered in New York City, and its current Chief Investment Officer is its founder. At the time of the launching, the fund had around $5 million of initial capital and over the years, it […]
Shares in Sinclair Broadcast Group Inc fell by 1.6% after the U.S. Federal Communications Commission disclosed it has opened an investigation into whether the company misled the agency in its failed effort to win approval for a $3.9 billion bid to purchase Tribune Media Co. In a June 25 letter to Sinclair posted Wednesday on the FCC’s website, the government agency's media bureau directed Sinclair to answer a series of questions by July 9. On Thursday, the letter had been removed from the FCC's website.
The Federal Communications Commission has opened a new investigation into whether Sinclair Broadcast Group Inc engaged in misrepresentations or a lack of candor in its failed effort to win approval for a $3.9 billion bid to purchase Tribune Media Co. Sinclair did not immediately respond to a Reuters request for comment. An administrative judge in March dropped a hearing into allegations that Sinclair, the largest U.S. broadcast station owner, may have misled regulators.
Earlier this week, money managers at top hedge funds around the country submitted 13F filings with the U.S. Securities and Exchange Commission (SEC). Seth Klarman, the billionaire head of Baupost Group, is a favorite of those who closely follow the quarterly 13F releases, and for good reason: his firm's 13F filing for Q2 suggests that Baupost's 13F portfolio value climbed by more than $1 billion in that three-month period. Other new positions in Klarman's portfolio include Tribune Media Co. (TRCO) and Sinclair Broadcast Group Inc. (SBGI).
The Insider Monkey team has completed processing the quarterly 13F filings for the March quarter submitted by the hedge funds and other money managers included in our extensive database. Most hedge fund investors experienced strong gains on the back of a strong market performance, which certainly propelled them to adjust their equity holdings so as […]
Moody's Investors Service ("Moody's") today affirmed the B1 corporate family rating (CFR) and B1-PD probability of default rating (PDR) of Nexstar Broadcasting, Inc. (Nexstar). Moody's also assigned Ba3 ratings to the proposed $700 million Term Loan A and $3,040 million Term Loan B and a B3 to the proposed $1,120 million in senior unsecured notes due 2027.