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TRIBUNE BROADCASTING TO ACQUIRE BOSTON TV STATION WLVI

 CHICAGO, Nov. 3 /PRNewswire/ -- Tribune Broadcasting Company has agreed to acquire for cash the assets of Boston independent television station WLVI (Ch. 56) from Gannett Co., Inc. (NYSE: GCI), James C. Dowdle, president/CEO of Tribune Broadcasting, announced here today.
 The acquisition would increase the number of Tribune-owned TV stations to eight, making Tribune Television the nation's second largest station group in terms of U.S. household penetration at 24.4 percent (20.7 percent by Federal Communication Commission standards). Completion of the transaction, which is subject to FCC approval, is expected in 1994. Terms were not disclosed.
 WLVI-TV employs about 110 people and has 1993 projected revenues of approximately $28 million. As a Tribune station, WLVI would become affiliated with Warner Bros.' newly announced WB network when it begins operations in the fall of 1994.
 "We're excited to be positioned in five of the country's top six markets," Dowdle said. "WLVI is an excellent fit with our group."
 "The sale leaves Gannett Broadcasting open for future growth," Cecil L. Walker, president/CEO of Gannett Broadcasting, said.
 Tribune Television stations are WPIX (Ch. 11) in New York, KTLA (Ch. 5) in Los Angeles, WGN (Ch. 9) in Chicago, WPHL (Ch. 17) in Philadelphia, WGNX (Ch. 46) in Atlanta, KWGN (Ch. 2) in Denver, and WGNO (Ch. 26) in New Orleans.
 Tribune is a leading information and entertainment company. Tribune publishes six daily newspapers, operates seven television and six radio stations, produces and syndicates information and programming, publishes books and information in print and digital formats, and has an ownership interest in one of Canada's largest newsprint manufacturers.
 -0- 11/3/93
 /CONTACT: Robert D. Carr, 312-222-3763, or at home, 708-279-8021, or fax, 312-222-1573, or (investors) Joseph Andrew Hays, 312-222-3237, or at home, 312-642-0040/
 (TRB GCI)


CO: Tribune Broadcasting Company; Gannett Co., Inc. ST: Illinois, Massachusetts IN: ENT SU: TNM

CK -- NY008 -- 0024 11/03/93 10:00 EST
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Publication:PR Newswire
Date:Nov 3, 1993
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