A giant in the ailing print industry, the Tribune Corporation, announced plans to spend $2.7 billion to acquire 19 local television stations across the US, according to The New York Times.
The move may seem odd for a company that has been cost-cutting in its core properties, including the Chicago Tribune and the Los Angeles Times. But the firm's leadership clearly sees untapped potential in the visual medium, which has been struggling with challenges of its own. Courtesy Dealbook.