Oct 31, 2017
CHICAGO, Oct. 31, 2017 /PRNewswire/ -- Tribune Media Company (NYSE: TRCO) today announced that effective Oct. 26, 2017, Bruce Karsh, Chairman of the company's Board of Directors since 2013, stepped down from the position and resigned from the Board.
"Given the overwhelmingly successful shareholder vote and the continued progress being made toward the company's merger with Sinclair Broadcast Group, now is the right time for me to step down from the Board," said Karsh. "I'd like to thank Tribune's management team and employees, as well as my fellow Board members for all their work on the company's behalf."
In light of the pending Sinclair transaction, Tribune Media's Board has decided not to name a new Chairman and will not be naming a new member to the Board at this time.
"Bruce has been a tremendous Chairman and champion of Tribune since its emergence from bankruptcy," said Peter Kern, Tribune Media's Chief Executive Officer. "His steady leadership and focus on shareholder returns has created value for all of our stakeholders and as we focus on the completion of our proposed merger with Sinclair, we thank Bruce for all his efforts and hard work. The company and its shareholders have benefited greatly from his guidance."
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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