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Provider: Reuters Investment Profile
Provider: Wright Reports
Provider: GlobalData
Provider: Thomson Reuters StreetEvents

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Tribune Co To Buy 19 Local TV Stations For $2.73 Billion-Reuters

Monday, 1 Jul 2013 01:30pm EDT 

Reuters reported that Tribune Co said on July 01, 2013 that it would acquire 19 television stations from Local TV Holdings LLC for $2.73 billion in cash. The purchase from New York private equity firm Oak Hill Capital Partners is another step for Tribune, the publisher of the Los Angeles Times and the Chicago Tribune, in transforming itself largely to a broadcast company as it seeks to sell off its newspaper division. Tribune, which currently has 23 television stations and eight newspapers, emerged from bankruptcy protection in December. With Local TV, Tribune will now have stations in markets like New York, Los Angeles, Miami, Cleveland, Denver and Seattle and will reach the households in the United States. 

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11 Jul 2014