Latest press releases claim television and entertainment company, Tribune Media Co. to be observing a certain reformation within its strategies keeping in view the swinging losses in final Q this year, to boost significance of its shareholders.
[Exclusive from Thomson Reuters: In latest Q, the company reported a loss of US$ 380.9 million, i.e. US$ 4.07/share, in comparison to a year-earlier profit of US$ 314.7 million, i.e. US$ 3.14/share. Earnings per share fall into bear market from 81 cents to 63 cents. However, an earlier forecast laid by analysts was 55 cents/share on US$543.1 million in revenue.]
As for results, there has been better-than-expected citation laid forward when shares gained in an estimate of approx. 9.4% in EARLY TRADING at US$ 36.03 – however the bearish imprint is 45% on an annual scale.
“We will review full range of strategic and financial alternatives to enhance shareholder value. The value of the portfolio of businesses of Tribune Media is not fully reflected in the stock price.” – Tribune Chairman, Bruce Karsh
On a similar note, as per announcements made by broadcaster, it’d be introducing a stock-buyback program worth US$ 400 million alongside re-considering three of its top executives.
INSIGHT: Chief Executive, Peter Liguori began a new two-year employment agreement while the company named Chandler Bigelow chief financial officer. General Counsel Eddie Lazarus added the chief strategy officer title.
Just like rest of its competitors in media industry, it has not projected its attention towards print products. Hence, last year, it had to shed its publishing businesses incorporating Chicago Times and Los Angeles Times.
The revenue rate as per company had plunged with 3.4% at US$ 464 million; decline claimed to have taken its origin due to plunging political promotions last year – an off-cycle political annual conviction. Overviewing digital and data sect, media agent’s revenue hiked with 18% setting at US$ 71.1 million. Not to mention, revenue rate trimmed down with 1.1% atUS$547.6 million.
