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BRIEF-Tribune Media announces expected share of proceeds as result of CareerBuilder sale
June 19, 2017 / 1:11 PM / 3 months ago

BRIEF-Tribune Media announces expected share of proceeds as result of CareerBuilder sale

June 19 (Reuters) - Tribune Media Co

* Tribune Media Co - expects to receive $157 million in cash, retain an approximate 8 percent ownership stake in CareerBuilder on a fully-diluted basis

* Tribune Media Co - expects to recognize a $22 million cash tax benefit in 2017 as a result of an expected taxable loss on sale of CareerBuilder

* Tribune Media Co - expects to record a non-cash impairment charge of approximately $64 million in Q2 of 2017

* Tribune Media Co - transaction, which is subject to regulatory approval and customary closing conditions, is expected to close in Q3 of 2017 Source text for Eikon: Further company coverage:

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