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Owner of USA Today will spin newspaper unit, buy out 73% stake in parent of Cars.com for $1.8 billion.
Gordon Smith, chairman of the National Association of Broadcasters (NAB), said the Federal Communications Commission (FCC) has continued to favor broadband providers, putting local television stations at risk.
Sony (SNE) will sell media database company Gracenote to Tribune (TRBAAA) for $170 million.
TV-station owners aren't finished with acquisitions that will further accelerate the industry's consolidation.
A remade Gatehouse Media could inject additional life into newspaper mergers and acquisitions as the industry consolidates.
Washington Post, Boston Globe are headed for new owners but don't expect The New York Times to follow.
CBS said it wouldn't agree to a deal if it loses its coveted Channel 2 placement on the pay-TV provider's dial.
AFL-CIO's Brandon Rees says union pressure on Tribune helped preserve journalistic integrity and shareholder value.
JPMorgan's 9% stake raises questions about the separation of banking and commerce.
The $2.7 billion deal makes Tribune the U.S.'s largest TV-station operator. The sale of newspapers, including the Los Angeles Times, may follow.
Tribune's purchase of 19 TV stations from Local TV expands the company's reach giving it the scale to invest in content, says TheStreet's Leon Lazaroff.
The labor federation is trying to convince Tribune not to sell its newspapers rather than risk a buyout by billionaires David and Charles Koch.