Tribune (TRBAA) released an updated information statement today with information on the spinoff of its publishing arm, Tribune Publishing Company. The spinoff will likely happen by midyear, allowing time to vet candidates to run the business. Tribune (TRBAA), which emerged from bankruptcy a year ago following a leveraged buyout from real estate developer Sam Zell, is spining off its newspapers to focus on its more lucrative broadcast television properties. The business includes such papers as the Los Angeles Times and the Chicago Tribune. Date, spinoff ratio are not detailed yet in the information statement. One noteworthy item in the company’s filing, it mentions that it grew its print revenue by 5.3% in 2012 due to price increases (despite declines in volume). Source: Filing
Spin-Off
