Tribune Co. to buy 19 TV stations in 2.7 billion deal

Los Angeles Times

Tribune Company has agreed to buy 19 television stations from Local TV Holdings in a $2.7 billion deal announced Monday.

The move means that Tribune will now own a total of 42 television stations, reports the Los Angeles Times’ Meg James. The stations are in 16 markets, including Cleveland, Kansas City and Salt Lake City.

James reports:

Tribune also would have five CBS affiliates, three ABC affiliates and two NBC stations. The company would own 14 stations in the nation’s top 20 markets. The deal would benefit the company by increasing its footprint in such important political battleground states as Ohio, Virginia, Colorado and Pennsylvania.  In past election years, stations in pivotal states have attracted a wealth of campaign spending.

Tribune Chief Executive Peter Liguori said in a statement that this is a transformational acquisition” that makes Tribune “the No. 1 local TV affiliate group in America.”

The news comes at a time when Tribune — which emerged from bankruptcy protection last December — is considering a potential sale of its newspapers; possible bidders include the Koch brothers. This is the second time in the past month that a major media company has bought TV stations; in June, Gannett announced a $2.2 billion deal to buy Belo Corp.’s 20 big-city television stations.

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  • Robert Knilands

    I need that Matt Damon picture from Rounders. “Nope, you didn’t do it this time. I’m going to raise.”

  • Poynter

    Hi Robert,

    Didn’t miss anything noteworthy. There was a line that was redundant, so I tweaked it. If it had been a factual error, I would have corrected it.


  • Robert Knilands

    What did I miss? The various permutations of the sale price are entertaining, too.
    I guess this is why this writer claimed she always contacted every reporter to discuss any routine change made to the copy. They must have needed to sign off on it, if this would have been the result.

  • John B. Matthews

    The first two paragraphs are classics. Thanks for chuckle.