Tribune Media Company (NYSE: TRCO) announced that at a special meeting held today, the stockholders of the Company voted overwhelmingly to approve the previously announced acquisition of the Company by Sinclair Broadcast Group, Inc.
More than 99 percent of the votes cast by the Company's Class A common stockholders and Class B common stockholders, voting as a single class, entitled to vote at the special meeting voted to approve the merger, which represents approximately 85 percent of the Company's Class A common stock and Class B common stock outstanding as of the special meeting record date. The Company will file a Form 8-K later today disclosing the full voting results.
"Today's vote is an important milestone in the merger process and confirms that Tribune stockholders strongly support this transaction and the value it delivers," said Peter Kern, Tribune Media's Chief Executive Officer. "We look forward to continuing our work with Sinclair toward the closing of this deal."
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 more than 50 million households, national entertainment network WGN America, whose reach is approaching 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.