Tribune Company Buys 19 TV Stations for $2.7 Billion
To become largest TV station group in country
Tribune Co. has agreed to purchase 19 television stations owned by Local TV Holdings in a $2.73-billion deal that is expected to make Tribune the largest television station group in the country.
Tribune and Local TV Holdings said early Monday that they had entered into a definitive agreement for Tribune to acquire all of Local TV's television stations in a cash transaction. Local TV's stations are located in 16 markets, including Denver, Salt Lake City, Cleveland and Kansas City.