Tribune Media, 21st Century Fox Extend Affiliate Deal In Seattle Till July 2018

(RTTNews) - Tribune Media Co. (TRBAA.PK, TRBCQ.PK) and Rupert Murdoch's Twenty-First Century Fox, Inc. (FOX, FOXA) have reached agreement on a new multi-year extension of the FOX affiliation in Seattle with Tribune owned station, KCPQ-TV, Tribune Media said on Friday.

As per the terms of the agreement, Tribune will continue its FOX affiliation with KCPQ-TV in Seattle through July 2018, which is concurrent with the timing of seven other Tribune Broadcasting FOX affiliation agreements.

As part of the agreement, FOX has withdrawn its previously delivered termination notice and has agreed that the affiliation will no longer be subject to early termination prior to July 2018.

"We are pleased to have secured a multi-year agreement with FOX to extend our affiliation with KCPQ-TV in Seattle through July 2018," said Peter Liguori, President and Chief Executive Officer, Tribune Media.

As part of the extended affiliation agreement Tribune has agreed, as of January 1, 2015, to pay additional programming fees to FOX for the prime time and sports content provided by the network. Including this additional programming fee, Tribune expects that, for the term of the agreement, KCPQ will deliver profitability in excess of its previously disclosed 2013 annual EBITDA of $13 million.