NEW YORK, March 12, 2019 /PRNewswire/ -- Tribune Media
Company (the "Company") (NYSE: TRCO) announced that at a special
meeting held today, the stockholders of the Company voted
overwhelmingly to approve the Company's previously announced
acquisition by Nexstar Media Group, Inc. ("Nexstar").
More than 95 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 73 percent of
the shares 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 disclosing the full voting
results.
"We're extremely pleased with today's vote," said Peter Kern, Tribune Media Company's chief
executive officer. "It confirms that our stockholders clearly
recognize the significant value we expect to be delivered by this
merger. We look forward to continuing our work with Nexstar
to obtain the necessary regulatory approvals that will enable us to
close this transaction later this year."
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 49 million households, national
entertainment cable network WGN America, whose reach is more than
75 million households, Tribune Studios, and a variety of digital
applications and websites commanding 49 million monthly unique
visitors online. Tribune Media
also includes Chicago's WGN-AM,
the national multicast networks Antenna TV and THIS TV and Covers
Media Group, an unrivaled source of online sports betting
information. 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.
FORWARD-LOOKING STATEMENTS
Certain statements and
information in this communication may be deemed to be
"forward-looking statements" within the meaning of the Federal
Private Securities Litigation Reform Act of 1995. Forward-looking
statements may include, but are not limited to, statements relating
to the Company's and Nexstar's anticipated financial performance,
objectives, plans and strategies, and all statements (other than
statements of historical facts) that address activities, events or
developments that the Company and Nexstar intend, expect, project,
believe or anticipate will or may occur in the future. These
statements are often characterized by terminology such as
"believe," "hope," "may," "anticipate," "should," "intend," "plan,"
"will," "expect," "estimate," "project," "positioned," "strategy"
and similar expressions, and are based on assumptions and
assessments made by the Company's management in light of their
experience and their perception of historical trends, current
conditions, expected future developments, and other factors they
believe to be appropriate. The Company undertakes no duty to update
or revise any such statements, whether as a result of new
information, future events or otherwise. Forward-looking statements
are not guarantees of future performance. Whether actual results
will conform to expectations and predictions is subject to known
and unknown risks and uncertainties, including: risks and
uncertainties discussed in the proxy statement and other reports
that the Company has filed with the SEC; general economic, market,
or business conditions; risks associated with the ability to
consummate the business combination between the Company and Nexstar
and the timing of the closing of the business combination; the risk
that a regulatory approval that may be required for the merger is
delayed, is not obtained or is obtained subject to conditions that
are not anticipated; pricing fluctuations in local and national
advertising; future regulatory actions and conditions in the
television stations' operating areas; competition from others in
the broadcast television markets; volatility in programming costs;
the ability to successfully integrate the Company's and Nexstar's
operations and employees; the ability to realize anticipated
benefits and synergies of the business combination; the potential
impact of announcement of the business combination or consummation
of the transaction on relationships, including with employees,
customers and competitors; and other circumstances beyond the
Company's and Nexstar's control. You should not place undue
reliance on these forward-looking statements. For more details on
factors that could affect these expectations, please see the
Company's filings with the SEC, including the proxy statement.
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SOURCE Tribune Media Company