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Tribune to acquire Gracenote

2013-12-23 20:40:00| Telecompaper Headlines

(Telecompaper) Tribune has announced it has entered into an agreement with Sony of America to purchase Gracenote, a global provider of music technology and metadata. Tribune will combine Gracenote with Tribune Media Services (TMS), a provider of television and movie metadata. Tribune is purchasing all of the shares of Gracenote, which is a wholly-owned subsidiary of Sony of America, for USD 170 million subject to standard adjustments. The transaction is expected to close in the first quarter of 2014, upon receipt of regulatory approvals. Sony said it expects to realise a one-time operating gain of USD 60 million on the sale.

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