May 10 U.S. broadcaster Tribune Media Co
, which agreed to be bought by Sinclair Broadcast Group
Inc, reported a loss in the first quarter, compared to
a profit a year earlier, hurt partly by lower ad revenue from
its TV and entertainment business.
The company said net loss was $85.6 million, or 99 cents per
share in the first quarter ended March 31, compared with a net
income of $11.1 million, or 12 cents per share, a year earlier.
Tribune said it recorded an impairment charge of $122
million in the quarter.
Operating revenue fell to $439.9 million from $468.5
Sinclair on Monday said it would buy Tribune for about $3.9
billion, giving Sinclair a greater foothold in big broadcast
markets like New York and Chicago.
(Reporting by Pushkala A and Rishika Sadam in Bengaluru;
Editing by Sai Sachin Ravikumar)