The Tribune Company agreed on Monday to buy 19 television stations for about $2.7 billion, making it one of the nation’s biggest owners of commercial local TV outlets amid a groundswell of consolidation in the industry.
The stations are in 16 regions, including Denver, Cleveland and St. Louis, and many of their local news broadcasts are ranked first or second in their markets. They will complement Tribune’s 23 existing stations and its WGN America cable channel. Tribune is buying the stations from Local TV Holdings, a company owned by the investment firm Oak Hill Capital Partners.
Read the full story at Tribune to Buy 19 TV Stations for $2.7 Billion – NYTimes.com.
