Tribune announced Friday it closed on its purchase of Local Holdings LLC. The acquisition produces the “largest combined independent broadcast group and content creator in the country,” the company stated in a news release.
The company announced in the summer that it planned to purchase 19 stations from Local Holdings for $2.7 billion.
Peter Liguori, Tribune president and CEO, called the purchase “a transformational acquisition for Tribune, providing us with significant scale to drive our business objectives and create substantial shareholder value.”
The deal brings the total number of television stations owned by Tribune to 39, according to the company, and continues Tribune’s efforts to transition away from print.