Tribune Media Co. reported a fourth quarter loss and wrote off some programming assets and said that it had hired advisors to explore strategic alternatives to increase its stock price.
Strategic alternatives usually include selling or spinning off parts of the business, which could include some of Tribune Media’s TV stations, its cable network, WGN America, or its digital operations.
“Tribune's assets are valuable, powerful and performing well, as reflected in our full-year 2015 operating results," said CEO Peter Liguori. "However, it's our belief that our current stock price does not reflect the full value of these assets. With the help of outside advisors, we have decided to initiate a process to explore every possible strategic and financial option with one clear goal: to unlock the value of our stock.”