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TRNC

tronc

$18.10

0.02 (0.11%)

08:55
02/07/18
02/07
08:55
02/07/18
08:55

tronc announces a national digital strategy

With an enhanced balance sheet following the sale of the California News Group, tronc, Inc. is embarking on a national digital growth strategy through its newly reorganized Tribune Interactive division, which will operate the digital functions of the company, as well as pursue strategic growth investments and acquisitions, such as its newly announced majority ownership in high growth consumer reviews and e-commerce company, BestReviews. Tribune Interactive will be the home to tronc's digital assets and functions, including product development and engineering; digital subscriptions and marketing; the studios unit which is responsible for video, audio, and new content formats; national digital sales; and, digital corporate and business development. TI will also include syndication unit TCA and recently acquired, The Daily Meal. TI will launch, partner with, invest in and acquire digital businesses and accelerate growth of new digital and diversified revenue streams. The group will also continue to develop and distribute national digital content to each of the brands within tronc, as well as across affiliated web and mobile properties, partners and social platforms. TI will be led by newly reinstated executive Ross Levinsohn as CEO. Mickie Rosen will serve as President and Lewis D'Vorkin as Chief Content Officer, joined by Ben Gerst, as Chief Technology Officer; Mark Campbell, leading digital subscriptions and marketing; and, Rob Angel, leading corporate and business development. Following an independent investigation and a report to the Board of Directors finding no wrongdoing on the part of Mr. Levinsohn, the Board determined to reinstate Mr. Levinsohn and appoint him Chief Executive Officer of Tribune Interactive, LLC. Tribune Interactive will be based in Chicago, with offices in New York and Los Angeles, and will report to tronc, Inc. CEO Justin Dearborn.

TRNC tronc
$18.10

0.02 (0.11%)

01/17/18
SIDC
01/17/18
INITIATION
Target $25
SIDC
Buy
tronc initiated with a Buy at Sidoti
Sidoti initiated tronc with a Buy and $25 price target saying is making progress managing costs and improving content, to offset steady consumption declines in the newsprint industry.
02/05/18
NBLE
02/05/18
DOWNGRADE
NBLE
Hold
tronc downgraded to Hold from Buy at Noble Financial
02/05/18
02/05/18
DOWNGRADE

Hold
tronc downgraded to Hold on valuation at Noble Financial
As previously reported, Noble Financial analyst Michael Kupinski downgraded tronc to Hold from Buy on valuation after the stock advanced about 27% in 2017. While he thinks cost cutting initiatives are likely to continue, those efforts will be challenged by the LA Times unionization and if Canadian newsprint tariffs are implemented, Kupinski tells in investors. He also believes it is likely that the company will seek acquisitions to use some of the over $380M currently on its balance sheet.

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