Another leading stock contributor this quarter was from the Consumer Discretionary sector. Tribune Media (NYSE:TRCO) has been a long-term holding based on media companies separating their print/publishing operations from their broadcast divisions. In addition, we believe that the presidential election cycle favors news broadcasting companies. Tribune announced solid fourth quarter earnings and alluded to the fact that it had hired several investment banks to review financial alternatives to enhance shareholder value. We believe Tribune is significantly undervalued and it remains our highest-weighted position.
From Keeley All Cap Value Fund first quarter 2016 commentary.
