Tribune Media said it has filed documents with the Securities and Exchange Commission for a secondary offering of about 9.2 million shares of stock to be sold by certain shareholders. The media company, which owns TV stations and cable network WGN America, said it will not receive any proceeds from the offering.
According to the filing, about 9.2 million shares will be sold by certain stockholders affiliated with Oaktree Capital Management, L.P., Angelo, Gordon & Co., L.P. and JPMorgan Chase Bank, N.A., which represents about 25% of such stockholders' current ownership in the company. In connection with the offering, the selling stockholders will grant the underwriters an option to purchase up to 1,386,010 additional shares of Class A common stock.
The offering is being made through an underwriting group led by Morgan Stanley and J.P. Morgan Securities LLC, who are acting as joint book-running managers and as representatives of the underwriters for the offering. Goldman, Sachs & Co. and Deutsche Bank Securities are also acting as joint book-running managers.
The smarter way to stay on top of the multichannel video marketplace. Sign up below.
Thank you for signing up to Multichannel News. You will receive a verification email shortly.
There was a problem. Please refresh the page and try again.