Analyst Begins Coverage of Tribune at 'Outperform'

Wells Fargo analyst Marci Ryvicker initiated coverage of Tribune Media Co., rating the company in her "outperform" category.

Ryvicker says Tribune's station group is well positioned for long-term net retransmission revenue growth, will get a boost from the 2016 presidential elections and has opportunities to monetize its spectrum worth $5 to $9 a share.

She also things WGN America, which Tribune is converting from a superstation to a cable network, is "worth the wait." She calculates that WGNA is worth $1.3 billion, only half of which is currently reflected in Tribune's stock price.

Investments including stakes in Food Network and Career Builder now generate more than $200 million in cash flow and present future monetization opportunities.

Jon has been business editor of Broadcasting+Cable since 2010. He focuses on revenue-generating activities, including advertising and distribution, as well as executive intrigue and merger and acquisition activity. Just about any story is fair game, if a dollar sign can make its way into the article. Before B+C, Jon covered the industry for TVWeek, Cable World, Electronic Media, Advertising Age and The New York Post. A native New Yorker, Jon is hiding in plain sight in the suburbs of Chicago.