CHICAGO, Jan. 3, 2017 /PRNewswire/ -- Tribune Media Company (NYSE: TRCO) today announced a special dividend of approximately $500 million. On January 2, 2017, the Company's Board of Directors authorized and declared a special cash dividend of $5.77 per share on the Company's Class A common stock and Class B common stock. In addition, holders of the Company's warrants will receive a cash payment equal to the amount of the dividend paid per common share for each share of common stock such warrants are exercisable into. The dividend is payable on February 3, 2017 to stockholders and warrantholders of record at the close of business on January 13, 2017. This special dividend will be paid from existing cash.
Tribune Media Company (NYSE: TRCO) is home to a diverse portfolio of television and digital properties driven by quality news, entertainment and sports programming. Tribune Media is comprised of Tribune Broadcasting's 42 owned or operated local television stations reaching more than 50 million households, national entertainment network WGN America, whose reach is approaching 80 million households, Tribune Studios, and a variety of digital applications and websites commanding 60 million monthly unique visitors online, including ScreenerTV.com and Covers.com. Tribune Media also includes Chicago's WGN-AM and the national multicast networks Antenna TV and THIS TV. Additionally, the Company owns and manages a significant number of real estate properties across the U.S. and holds other strategic investments in media. For more information please visit www.tribunemedia.com.