Tribune Co. Becomes Largest TV Station Operator After Buying 19 Stations
CHICAGO (CBS) — The Tribune Company is beefing up its stable of television stations in a big way.
WBBM Newsradio’s Bernie Tafoya reports the company announced it has agreed to buy 19 TV stations from Cincinnati-based Local TV Holdings LLC for nearly $2.73 billion in cash.
The Tribune Compnay already owns WGN-TV in Chicago, and 22 other TV stations, and the deal with Local TV would make the Tribune Company the largest commercial TV station owner in the nation, with 42 stations.
The company emerged from bankruptcy protection two weeks ago, and has been trying to unload its eight newspapers, including the flagship Chicago Tribune.