TRIBUNE MEDIA COMPANY ANNOUNCES SUCCESSFUL CONSENT SOLICITATION WITH RESPECT TO ITS 5.875% SENIOR NOTES DUE 2022
CHICAGO and BALTIMORE (June 22, 2017) — Tribune Media Company (NYSE: TRCO) (“Tribune”) today announced the expiration, on June 21, 2017, and results of its consent solicitation with respect to its 5.875% Senior Notes due 2022 (CUSIP No. 896047 AH0) (the “Notes”).
Tribune received consents from holders of $1,025,584,000 in principal amount of Notes, representing 93.23% in principal amount of the Notes outstanding. Tribune undertook the consent solicitation at the request and expense of Sinclair Broadcast Group, Inc. (Nasdaq: SBGI) (“Sinclair”) in accordance with the terms of an Agreement and Plan of Merger (the “Merger Agreement”), dated as of May 8, 2017, pursuant to which Samson Merger Sub Inc., a wholly-owned subsidiary of Sinclair, will be merged with and into Tribune (the “Merger”), with Tribune surviving the merger as a wholly-owned subsidiary of Sinclair. Immediately following the Merger, Tribune will merge with and into Sinclair Television Group, Inc. (“STG”), a wholly-owned subsidiary of Sinclair, with STG surviving the merger (the “STG Merger”). The Merger, the STG Merger and the related financings and other transactions related thereto are referred to collectively as the “Transactions.”
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