Tribune Closes $2.7 Billion Station Acquisition, Creates the Country's Largest Combined Independent Broadcast Group and Content Creator TVWeek
"Tribune Company announced today that it has completed the final steps necessary to close its acquisition of Local TV Holdings, LLC," the company said in a press release. "The transaction creates the largest combined independent broadcast group and content creator in the country."
Tribune now owns 39 TV stations nationwide.
"In addition, Tribune will provide certain services to support the operations of three former Local TV stations owned by Dreamcatcher Broadcasting LLC," the announcement adds. "The combined broadcast portfolios include 14 Fox affiliates, 14 CW affiliates, 5 CBS affiliates, 3 ABC affiliates and 2 NBC affiliates. Tribune owns 14 stations in top-20 markets and the company is now the #1 Fox affiliate group and the #1 CW affiliate group in the country. The transaction added market-leading stations in prime cities such as Denver, Cleveland, St. Louis, Kansas City, Salt Lake City and Milwaukee to the Tribune lineup."
Said Peter Liguori, Tribune’s President and Chief Executive Officer: “This is a historic day for Tribune and Local TV. Combining these two great media companies will deliver tremendous benefits for our viewers, advertisers, and most important, the communities we serve. This is a transformational acquisition for Tribune, providing us with significant scale to drive our business objectives and create substantial shareholder value.”