Tribune closes $170M deal for Gracenote
CHICAGO (AP) — Tribune Co. has completed its acquisition of Gracenote for $170 million.
Gracenote, which had been owned by Sony Corp. of America, tracks metadata to help music streaming services, smartphone and tablet applications. Its database gets 550 million look-ups each day and more than 16 billion every month.
Gracenote joins Tribune's media services business, which manages television and movie metadata, creating one of the largest entertainment metadata companies in the world. The company will continue to operate from its headquarters in Emeryville, Calif.
Tribune said Monday that the acquisition also expands its reach into new growth areas, including streaming music services, mobile devices and automotive infotainment.