Tribune Renamed Tribune Media After Spinoff Of Newspaper Arm

Tribune Media

The separation becomes official today: Shares of Tribune Media — the TV and digital company — will trade over  the counter (symbol: TRBAA). The newspaper operation, Tribune Publishing, will trade on the New York Stock Exchange (symbol: TPUB).

Tribune Media CEO Peter Liguori heralded the change noting that over the last year he has “executed a strategy designed to embrace a rapidly changing media environment.” The company “doubled the size of our broadcast group, re-launched our national cable network, WGN America, with high-quality original programming, and expanded our digital businesses that power some of the world’s leading media brands. The result is a rich and diverse portfolio of media properties and the birth today of Tribune Media Company.”

The split follows Tribune’s tax-free distribution of publishing shares last week. Tribune owners received 1/4 of a share in TPUB for each share they owned in Tribune. The publishing company’s properties include the Chicago Tribune, the Los Angeles Times, the Baltimore Sun, and The Hartford Courant.

This article was printed from https://deadline.com/2014/08/ttribune-media-publishing-peter-liguori-813897/