The Federal Communications Commission approved Tribune Co. (TRBAA:US)’s purchase of Local TV Holdings LLC’s 19 television stations.
The $2.73 billion acquisition would almost double the number of Tribune’s stations to 42, the companies said as they proposed the deal in July. Local TV is principally owned by Oak Hill Capital Partners.
Tribune, also owner of newspapers including the Los Angeles Times and Chicago Tribune, emerged from bankruptcy at the end of 2012. On July 10 the Chicago-based company said it intended to separate its publishing and broadcasting businesses.
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