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Tribune Completes $560M Sale Of Gracenote

Tribune Media on Wednesday announced that it completed its sale of Gracenote video, music and sports, to the Nielsen Co. for $560 million. After-tax proceeds are estimated to be approximately $500 million, of which $400 million was used to repay existing debt, with the remainder to be reinvested in the business. Tribune  Media will retain its ownership of the business-to-consumer websites, Covers.com and ProSportsDaily.com.

By Staff | February 1, 2017 | 5:27 p.m. ET.
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