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Tribune Co. said Friday that it has closed its transaction to acquire
broadcaster Local TV, creating one of the largest broadcast groups in
“This is a historic day for Tribune and Local TV,” Tribune CEO Peter
Liguori said in a statement. “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.”
As a result of the transaction, Tribune now owns 39 television
stations across the country. In addition, Tribune will provide certain
services to support the operations of three former Local TV stations
owned by Dreamcatcher Broadcasting LLC.
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
No. 1 Fox affiliate group and the No. 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 line-up.