TRONC, INC. (NASDAQ:TRNC) Files An 8-K Termination of a Material Definitive Agreement
Item 1.02. Termination of a Material Definitive Agreement.

In connection with the completion of the previously announced sale of the Los Angeles Times, The San Diego Union-Tribune and various other titles in the California news group (the “California Properties”), tronc, Inc. (the “Company”) terminated the ABL Credit Agreement, dated as of August 4, 2014 (as amended, amended and restated, extended, supplemented or otherwise modified) among tronc, Inc. (f/k/a Tribune Publishing Company), the several lenders party thereto and Bank of America, N.A., paid all outstanding amounts in connection therewith and backstopped and/or cash collateralized all outstanding letters of credit in connection therewith.

Also in connection with the completion of the previously announced sale of the California Properties, the Company prepaid all outstanding amounts under the Term Loan Credit Agreement, dated as of August 4, 2014 (as amended, amended and restated, extended, supplemented or otherwise modified) among tronc, Inc. (f/k/a Tribune Publishing Company), the several lenders party thereto and JPMorgan Chase Bank, N.A., resulting in the termination of such credit agreement.

Item 2.01. Completion of Acquisition or Disposition of Assets.

On June 18, 2018, the Company completed the previously announced sale of the California Properties to Nant Capital, LLC for a gross purchase price of $500 million in cash, plus the assumption of approximately $80 million in unfunded pension liabilities, subject to a customary post-closing working capital adjustment (the "Transaction"). The unaudited pro forma condensed consolidated financial statements of the Company, giving effect to the disposition of the California Properties, are attached as Exhibit 99.1 to this Current Report on Form 8-K.

Item 8.01. Other Events.

On June 18, 2018, the Company issued a press release announcing the closing of the Transaction. A copy of the press release is attached as Exhibit 99.2 to this Current Report on Form 8-K.

Item 9.01. Financial Statements and Exhibits.

The unaudited pro forma condensed consolidated balance sheet of tronc, Inc.

tronc, Inc. Exhibit
EX-99.1 2 a20188-kcaliforniaproforma.htm EXHIBIT 99.1 Exhibit EXHIBIT 99.1TRONC,…
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About TRONC, INC. (NASDAQ:TRNC)

tronc, Inc., formerly Tribune Publishing Company, is a content curation and monetization company focused on creating and distributing content across all channels. The Company’s portfolio of news and information brands includes daily and weekly titles, digital properties and verticals in markets across the country. The Company’s brands are sources of local news and information across all platforms, including print, online, mobile and social, in the markets they serve. Its media groups include the Chicago Tribune Media Group, the California News Group, the Sun Sentinel Media Group, the Orlando Sentinel Media Group, The Baltimore Sun Media Group, the Hartford Courant Media Group, The Morning Call Media Group and the Daily Press Media Group. The Company’s offerings also include a suite of digital, custom content and direct mail services and solutions for marketers.