Tribune Media Changing Strategy To Selling Real Estate Holdings
After a stunning 12-month reversal of fortune, Tribune Media is considering "strategic and financial options," including selling off parts of the company and expanding the sale of its real estate assets.
Tribune Media posted a $381M loss in Q4 2015 and saw major drop-offs in ad sales and other revenue. The company posted a $315M profit in Q4 2014.
Tribune Media already put several real estate assets up for sale before the announcement, including Tribune Tower, which went on the market last October. With the Q4 financials released, the company is expanding those sales efforts to include more properties in hopes of taking advantage of the strong market.