Tribune Completes Local TV Acquisition

By Merrill Knox Comment

tribune broadcastingTribune Co. has completed its acquisition of Local TV Holdings, LLC. Tribune now owns 39 stations: 14 Fox affiliates, 14 CW affiliates, five CBS affiliates, three ABC affiliates and two NBC affiliates.

The FCC approved the $2.7 billion purchase last week, clearing the way for the official completion of the deal.

“This is a historic day for Tribune and Local TV,” Tribune president and 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.”