Tribune Media plans to trade on the New York Stock Exchange under the symbol TRCO, according to a filing with the Securities and Exchange Commission on Friday.
The amendment to the Form 10 registration, which was initially filed in September, includes the new ticker symbol, along with updated financial statements, ownership information and strategic plans for the Chicago-based media company as it prepares to become a full publicly traded company.
Tribune Media trades as an over-the-counter stock under the symbol TRBAA. On Tuesday, executives said they expected Tribune Media to be listed on the NYSE by December, pending approval by the SEC.
The former Tribune Co. spun off its newspaper business on Aug. 4, including the Chicago Tribune and Los Angeles Times, to focus on its higher-growth broadcasting and entertainment assets. The parent company, renamed Tribune Media, has seen its stock price fall by about 25 percent since then. Last month, the company authorized a $400 million stock repurchase program to be funded with existing cash balances.
As of Oct. 31, Tribune Media had nearly 95 million outstanding shares of Class A stock and nearly 3 million shares of Class B stock, with another 2.5 million in outstanding warrants.
Approximately 38 percent of outstanding Class A common stock is owned by Oaktree Capital Management, Angelo, Gordon & Co. and JPMorgan Chase, the former senior creditors of Tribune Co., which emerged from bankruptcy at the end of 2012.
The stock closed at $64.85 on Friday, giving Tribune Media a market capitalization of about $6.27 billion.
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