Tribune Media Company announced a special dividend of approximately $500 million.  On January 2, 2017, the company's Board of Directors authorized and declared a special cash dividend of $5.77 per share on the company's Class A common stock and Class B common stock. In addition, holders of the Company's warrants will receive a cash payment equal to the amount of the dividend paid per common share for each share of common stock such warrants are exercisable into. The dividend is payable on February 3, 2017 to stockholders and warrantholders of record at the close of business on January 13, 2017. This special dividend will be paid from existing cash.