Tribune Shareholders Vote to Approve Sinclair Deal

The deal for Sinclair to take over Tribune has moved that much closer with the Tribune Media shareholders voting to approve the deal. 

Tribune CEO Peter Kern, who will receive a HUGE golden parachute when the deal is done sent this email to the staff. 

If Jern seems overly happy in his memo it's becuase he will walk away with millions and won't have to be around when Sinclair starts running the Tribune stations into the ground. 

From: Peter Kern
Sent: Thursday, October 19, 2017 10:00 AM
Subject: Sinclair Transaction Update
 
Today we have taken another significant step toward completing our previously announced transaction with Sinclair Broadcast Group, Inc.  This morning at a special meeting held in Los Angeles, Tribune Media shareholders voted overwhelmingly to approve the merger of the company with Sinclair.  More than 99 percent of the votes cast were in favor of the transaction, which, as the attached press release notes, is a clear indication that our shareholders see strong value in the merger.
 
To be clear, the Department of Justice and the Federal Communications Commission must still sign-off on the merger, and we are continuing our work with Sinclair to obtain these important regulatory approvals.  We will keep you updated on our progress. 
 
As we move into the fourth quarter, I want to thank you for your focus on continuing to deliver results for our shareholders, customers, and the communities we serve.  Keep up the great work.
 
Peter

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