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Tribune Media announces agreement to sell 27.8 pct stake in Classified Ventures to Gannett


Tuesday, 5 Aug 2014 06:35am EDT 

Tribune Media Co:Says with the remaining partners in Classified Ventures, LLC (CV) enters into a definitive agreement to sell its entire stake in CV to Gannett Co., Inc. for a price that values CV at $2.5 bln.Transaction is expected to close before the end of 2014.Expects to use the proceeds from this transaction for general corporate purposes.Moelis & Company served as financial advisors and Skadden, Arps, Slate, Meagher & Flom provided legal counsel to CV on this transaction. 

Company Quote

31.55
-0.44 -1.38%
1:06pm EST