Shares of Tribune Media Co. look attractive amid the discount at which the U.S. broadcaster's stock trades relative to its net asset value, according to an article in Barron's.

Tribune Media shares soared 8.3 percent on Wednesday, when Reuters reported that Sinclair Broadcast Group Inc had approached Tribune Media to discuss a potential combination.

The Barron's article cited one analyst estimating that Tribune Media's assets were worth as much as $54 per share. The company's shares closed at $37.35 on Friday.