As Tribune Co. gets closer to (finally) exiting bankruptcy, many are wondering what will become of the company’s 23 TV stations.
Variety reports that Tribune will be staring down a difficult market if it attempts to sell its station group, which has been valued at $3 billion:
If some or all of the outlets wind up on the auction block, the timing is less than ideal, as prices have come way down in recent transactions. And the list of likely suitors for Tribune’s stations is limited by a number of factors.
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Faced with a market in which it will be tough to execute a major deal, Tribune may want to hold on to its stations, which constitute the most profitable unit of the company.