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US: $2.73B deal makes once-bankrupt Tribune largest TV station owner

By  |  July 1, 2013
US: $2.73B deal makes once-bankrupt Tribune largest TV station owner

Tribune Co. announced a $2.73 billion deal that makes the company, once stuck in bankruptcy, now the nation’s largest commercial television station owner. After climbing out of bankruptcy in 2012, Tribune announced a buyout of 19 stations in 16 markets, previously owned by Local TV Holdings. Tribune now controls 42 stations. IN a statement, Tribune CEO Peter Liguori called the deal “transformational” for the company, not only placing the company higher in the market ranks but also expanding the company’s market of digital content. Reports say the Tribune bought out rivals Sinclair Broadcast Group and Meredith in the bidding process for the stations.

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