Tribune Media considers selling businesses

imageTribune Media which owns 42 local TV stations in markets including New York, Los Angeles, Chicago and Philadelphia, as well as the WGN America cable network, said it was exploring moves including selling some of its businesses. The company has hired Wall Street advisers to examine options for the company less than two years after spinning off its newspaper business.

The US television industry has been consolidating as station owners seek larger footprints to cut costs and gain leverage in negotiations with pay-TV providers, which are themselves merging.

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