Tribune Media Reports Q2 Loss And Light Revenue

By Trey Williams Markets MarketWatch Pulse

Tribune Media Co. said on Monday it had a net loss of $30.4 million, or 35 cents per share, during its second quarter, which was smaller than the $161.6 million loss, or $1.76 per share, during the same quarter a year ago. The company's adjusted earnings were 36 cents per share, below FactSet's consensus of 41 cents. Revenue for the quarter was $469.5 million, down from $479.8 million a year ago, and just below FactSet's consensus of $473.0 million. The media company said it recently received a request from the Department of Justice for additional information and documentary material in relation to its agreed upon merger with Sinclair Broadcast Group , extending the waiting period for the deal. Shares of Tribune were inactive in premarket trade, but have gained nearly 17% in the year to date, while the the S&P 500 index is up almost 11%.

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