Davis Polk advised JPMorgan Chase & Co. as a shareholder of Tribune Media Company in connection with its spinoff of Tribune Publishing Company. Pursuant to the spinoff, 25,042,263 shares of Tribune Publishing Company common stock were distributed pro-rata to the holders of Tribune Media Company Class A common stock, Class B common stock and warrants. Tribune Media Company received $275 million in connection with the spinoff, consisting of a cash dividend paid by Tribune Publishing Company prior to the spinoff.
JPMorgan Chase is a leading global financial services firm with assets of $2.5 trillion and operations worldwide. Tribune Media Company is home to a diverse portfolio of television and digital properties driven by quality news, entertainment and sports programming. Tribune Publishing Company is a diversified media and marketing solutions company with a diverse portfolio of iconic news and information brands that includes 10 award-winning daily titles.
The Davis Polk corporate team includes partner Michael Davis. The tax team includes partner Neil Barr and law clerk Brian Harris. All members of the Davis Polk team are based in the New York office.
