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Tribune Co to buy 19 TV stations

Jul 2 2013, 2:20am CDT | by

New York, July 2 (IANS/EFE) Media conglomerate Tribune Co said Monday that it reached an agreement to purchase 19 television stations from Local TV Holdings LLC for $2.73 billion in cash.

New York, July 2 (IANS/EFE) Media conglomerate Tribune Co said Monday that it reached an agreement to purchase 19 television stations from Local TV Holdings LLC for $2.73 billion in cash. The…

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“It is always good to evaluate how good of a job the department is doing on these background checks and what they need from the General Assembly to ensure they are as thorough as they can be”


Source: Chicago Tribune

 
 

4 weeks ago

Tribune Co to buy 19 TV stations

Jul 2 2013, 2:20am CDT | by

New York, July 2 (IANS/EFE) Media conglomerate Tribune Co said Monday that it reached an agreement to purchase 19 television stations from Local TV Holdings LLC for $2.73 billion in cash.

New York, July 2 (IANS/EFE) Media conglomerate Tribune Co said Monday that it reached an agreement to purchase 19 television stations from Local TV Holdings LLC for $2.73 billion in cash.

The acquisition, which includes broadcasters in markets such as New York, Los Angeles, Miami, Cleveland, Denver and Seattle, will leave Tribune with 42 stations nationwide.

The company also owns eight newspapers, including the Chicago Tribune and the Los Angeles Times.

It was only last December that Tribune Co completed a four-year-long restructuring under bankruptcy protection.

The Local TV deal is expected to generate more than $100 million within five years, Tribune executives said Monday.

Even as Tribune Co vastly expands its portfolio of television stations, the company is said to be preparing for the sale for some or all of its newspapers.

Potential buyers for the dailies include billionaire brothers Charles and David Koch, who have not hesitated to put their money behind conservative causes and politicians.

–IANS/EFE

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IANS

Source: IANS

 

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<a href="/latest_stories/all/all/8" rel="author">Luigi Lugmayr</a>
Luigi is the founding Chief Editor of I4U News and brings over 15 years experience in the technology field to the ever evolving and exciting world of gadgets. He started I4U News back in 2000 and evolved it into vibrant technology magazine.
Luigi can be contacted directly at ml@i4u.com. Luigi posts regularly on LuigiMe.com about his experience running I4U.

 

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