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Tribune Sells Most Of Its CareerBuilder Stake

Tribune Media Co. said Monday afternoon that it has sold the majority of its ownership stake in CareerBuilder, as Tegna completed the sale of CareerBuilder to an investor group led by investment funds managed by affiliates of Apollo Global Management and the Ontario Teachers' Pension Plan Board. As a participant in the sale, Tribune Media will receive approximately $158 million in cash and will retain an approximate 7% ownership stake in CareerBuilder on a fully-diluted basis.

By TVNewsCheck | July 31, 2017 | 5:23 p.m. ET.
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Dan Levitt says:

July 31, 2017 at 6:51 pm

it had to, it needed revenue to report some type of earnings ahead of (i’m guessing probably dismal) 2Q report next week – where oddly there is no Conference call, using the Sinclair merger as an excuse not to take any questions