Largest Television Station Operator in the United States
The Tribune Company is to become the largest local TV affiliate station operator in the U.S., having just announced an acquisition of 19 stations from Local TV, LLC. The “local” theme continues to run high in media headlines for 2013 … all things being local.
In its press release, Tribune says, “Tribune Company and Local TV Holdings, LLC, today jointly announced they have entered into a definitive agreement for Tribune to acquire all of Local TV’s 19 television stations in 16 key markets for $2.725 billion in cash. Coupled with Tribune’s current 23 television stations, superstation WGN America, Tribune Studios, Tribune Digital Ventures and its eight major market newspapers, the transaction makes Tribune a multi-platform content and distribution powerhouse. Local TV is principally owned by Oak Hill Capital Partners.” Read the Full Press Release (click here).
Local TV did not appear to have an immediate response on its website (LINK). But Local TV has had an apparently rapid growth curve, having been founded in 2007 by purchasing 9 TV stations from the New York Times Company. The media carousel continues to turn … stay tuned