Tribune Media announces successful consent solicitation on notes

Seeking Alpha

Published Jun 22, 2017 04:50PM ET

Tribune Media announces successful consent solicitation on notes

  • Tribune Media (TRCO -0.2%) has announced a successful consent solicitation that it undertook at the request of buyout partner Sinclair Broadcast Group (SBGI -1.4%).
  • Tribune received consents from holders of $1.026B in principal of its 5.875% senior notes due 2022. That makes up 93.23% of principal outstanding.
  • The company and trustee Bank of New York Mellon (NYSE:BK) Trust Co. have entered a new indenture easing integration with Sinclair, including eliminating a requirement for Tribune to make a Change of Control Offer.
  • Previously: Tribune Media, Sinclair gain as court allows for FCC ownership rule (Jun. 15 2017)
  • Previously: Sinclair Broadcast announces $3.9B deal for Tribune Media (May. 08 2017)
  • Now read: The Future Growth Portfolio: Corning Inc.
  • Original article

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