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Tribune Still Mulling Options

The publisher still expects to reach a decision on its review by the end of the first quarter.
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Tribune

(TRB)

still expects to reach a decision on its strategic review by the end of the first quarter.

The newspaper and television conglomerate, which has been entertaining buyout offers, said Tuesday that it is still working with its independent special committee to oversee an exploration of strategic alternatives.

The company launched the review last summer under pressure from its largest shareholder, the Chandler Family trust, which publicly expressed dissatisfaction with Tribune's dismal stock performance.

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"The review process has been rigorous and will continue to move forward with the assistance of our outside financial and legal advisors," said William Osborn, Tribune's lead independent director and chairman of the special committee, in a statement Tuesday. "The board expects to make a decision on a course of action and have an announcement before the end of the first quarter."

So far, buyout offers for the company have been viewed as a disappointment, and on Monday media reports indicated that the company might undertake a

restructuring on its own.

Tribune also declared a regular quarterly dividend of 18 cents a share payable on March 8 to shareholders of record at the close of business on Feb. 22.

Shares of Tribune closed up 5 cents, or 0.2%, to $30.34.