Tribune to buy Local TV for $2.73 billion

Monday, July 1st, 2013 | Finance News

(Reuters) - Tribune Co said it would acquire Local TV Holdings LLC, which owns 19 television stations, for $2.73 billion in cash.

Tribune, owner of the Los Angeles Times and the Chicago Tribune, currently has 23 television stations and eight newspapers, and emerged from bankruptcy protection in December.

Local TV is principally owned by Oak Hill Capital Partners.

(Reporting by Sayantani Ghosh in Bangalore; Editing by Saumyadeb Chakrabarty)