Tribune Publishing, a division of Tribune Company (NYSE:TRB), today announced the sale of its Southern Connecticut Newspapers, The Advocate (Stamford) and Greenwich Time, to Hearst Corporation for $62.4 million. The newspapers will be managed by MediaNews Group, Inc., under an existing joint venture agreement with Hearst.
The transaction is expected to close within the next few weeks. It does not include real estate in Stamford and Greenwich, which Tribune plans to sell separately.
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TRIBUNE is one of the country’s leading multimedia companies, operating businesses in publishing, digital and broadcasting. In publishing, Tribune’s leading daily newspapers include the Los Angeles Times, Chicago Tribune, The Baltimore Sun, Sun Sentinel (South Florida), Orlando Sentinel, Hartford Courant, The Morning Call and Daily Press. The company’s broadcasting group operates 23 television stations, WGN America on national cable, the national multicast network Antenna TV and Chicago’s WGN-AM. Popular news and information websites complement Tribune’s print and broadcast properties and extend the company’s nationwide audience.