Newspapers’ TV purchases may backfire comeback plans
Tribune Co., owner of eight newspapers including the Los Angeles Times, the Chicago Tribune and the Baltimore Sun, announced its intended purchase of Local TV LLC’s 19 television stations on Monday. The $2.7-billion deal, which will make the company the country’s largest commercial TV station owner, trails Gannett Co.’s $2.2-billion purchase of Belo Corp.’s 20 TV stations in early June.