Robert Deaton presented his in-depth investment thesis on Tribune Media (Nasdaq: TRCO) at Wide-Moat Investing Summit 2016.
Tribune Media is a diversified media company whose primary businesses are local TV stations and the cable network WGN America. The company also owns a variety of non-core assets, such as a substantial real estate portfolio, investments in assets, including TV Food Network and CareerBuilder, wireless spectrum, and the digital data provider Gracenote. The company has a concentrated ownership base, with Oaktree co-founder Bruce Karsh serving as chairman of the board. Under CEO Peter Liguori, the company has shown an inclination and willingness to shed non-core assets and return capital to shareholders. Robert Deaton sees potential for the company to narrow its focus to the core businesses. Given values that should be attainable for the assets to be sold, investors could get the core businesses for a very attractive implied entry price.
About the instructor:
Robert Deaton has enjoyed a long and successful investment management career as a money manager and private investor. Currently, Robert is managing member of Fat Pitch Capital, an investment partnership. Robert was a founding member of Bennett Lawrence a NY-based investment fund, which had peak assets of over $2 billion. Robert was chief investment officer of Cambium Capital and member, and is past managing member of Deaton Partnership. Robert holds an AB from Davidson College, an MBA from Vanderbilt University and is a CFA charter holder. Robert is an active member of numerous community organizations. He is a board member of the Presbyterian Healthcare Foundation (executive committee), the Physicians Impact Fund and the Vanderbilt University Owen School of Management Alumni Board. He is a member of the Board of Trustees at The Fletcher School (executive committee, treasurer-elect). He is a past two-term member of both the Board of Visitors at Davidson College and the Board of the Davidson Athletic Foundation. Robert is married with two children.
Members, log in below to access the full session.
Not a member?
Thank you for your interest. Please note that MOI Global is closed to new members at this time. If you would like to join the waiting list, complete the following form: