Back on the Market

Tribune Media is once again available for purchase after the Sinclair deal fell apart. Tom Taylor's NOW column explores that this morning...

Tribune is back on the market and “in a new round of talks to sell itself.” That’s following the cratered $3.9 billion sale to Sinclair. Reuters says Tribune’s using Guggenheim Securities and Moelis & Company as financial advisors. (Separately, Moelis is also working with iHeartMedia on its Chapter 11 bankruptcy reorganization.) Liana Baker of Reuters hears one possible deal partner for Tribune, and it’s Nexstar. Whoever the eventual buyer is – and Tribune’s board definitely hankers for a sale – there’s the issue of what happens to Tribune’s sole radio property, Chicago’s talk WGN/720.