CHICAGO, Oct. 31, 2013 /PRNewswire/ -- As previously announced, on July 1, 2013, Tribune Company ("Tribune") entered into a definitive agreement to acquire Local TV Holdings, LLC ("Local TV") for $2.725 billion in cash (the "Transaction"). In connection with the Transaction, Tribune plans on entering into a new $4.1 billion credit facility (the "New Credit Facility") which will include a $3.8 billion Term Loan Facility and $300 million Revolving Credit Facility. The proceeds of the New Credit Facility are expected to be used to fund the Transaction, repay existing debt and for general corporate purposes.
Today Tribune posted to the financial information section of its website certain information provided to prospective lenders in connection with the proposed New Credit Facility, including business and financial information with respect to Tribune and Local TV.
Cautions Concerning Forward-Looking Statements
This press release contains certain forward looking statements that are based largely on Tribune's current expectations and reflect various estimates and assumptions by Tribune. These statements may be identified by words such as "intend," "expect," "anticipate," "will," "implied," "designed," "assume" and similar expressions. Forward-looking statements are subject to certain risks, trends and uncertainties that could cause actual results and achievements to differ materially from those expressed in such forward looking statements. Such risks, trends and uncertainties, which in some instances are beyond Tribune's control, include underlying assumptions or expectations regarding the Transaction, such as the ability to realize anticipated benefits related to the Transaction, Tribune's ability to achieve requisite regulatory approvals for the Transaction, unanticipated developments that delay or negatively impact the Transaction, changes in market conditions, disruption to business operations as a result of the Transaction; and the ability to retain key personnel. There can be no assurance that the Transaction will be completed as anticipated or at all. Tribune is subject to additional risks and uncertainties described in Tribune's quarterly and annual financial statements, related management's discussion and analysis of financial condition and results of operations and the information contained therein, which are made publicly available via its website, www.tribune.com. Any forward-looking statements in this press release should be evaluated in light of these important risk factors. This press release reflects management's views as of October 31, 2013. Except to the extent required by applicable law, Tribune undertakes no obligation to update or revise any information contained in this press release beyond the published date, or for changes made to this press release by wire services, Internet service providers or other media, whether as a result of new information, future events or otherwise.
TRIBUNE is one of the country's leading multimedia companies, operating businesses in publishing, digital and broadcasting. In publishing, Tribune's leading daily newspapers include the Los Angeles Times, Chicago Tribune, The Baltimore Sun, Sun Sentinel (South Florida), Orlando Sentinel, Hartford Courant, The Morning Call and Daily Press. The company's broadcasting group operates 23 television stations, WGN America on national cable, the national multicast network Antenna TV and Chicago's WGN-AM. Popular news and information websites complement Tribune's print and broadcast properties and extend the company's nationwide audience.
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