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Tribune Completes $170M Gracenote Aquisition…

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Tribune Company is one of the largest media companies. They own WGN America, Los Angeles Times, Chicago Tribune, and The Baltimore Sun to name a few businesses. Now Tribune has expanded into streaming music services and mobile devices through a $170M acquisition of Gracenote from Sony.

According to the press release, Tribune will now be incorporating Gracenote’s “smart-TV, music and advertising innovations” into their television networks and stations.

Gracenote’s President Stephen White says:

“The acquisition by Tribune just makes sense. We see great opportunities to leverage Gracenote’s technologies, data and expertise with Tribune’s core media business to create more dynamic entertainment experiences.”

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Comments (3)
  1. TuneHunter

    Well, Sony lost 80 million bucks. It just confirms that labels gave up conventional music sales.

    Why keep brilliant asset converted by sleeping dogs to altruistic music Pimp?
    When Shazam investors give up on their PIMP?


    Reply
    1. Note to TuneHunter

      Responding to conflated logic feels like reverse engineering a random word association…but I’ll bite.

      1) You are assuming that Sony derived zero economic benefit from a consistently profitable company it owned for more than five years, during which time Gracenote revenue rose to > $100M year.

      2) You are ignoring that those revenues increased concurrent to the decline in conventional music sales, and that Gracenote has long since evolved to hedge against dependency on the very sales to which you imply a correlation.

      3) You are assuming that the values of both the Sony acquisition and the Tribune acquisition are exclusively defined by the cash component of those transactions.

      I don’t work for Gracenote, but if you turn to page two of the book on investment banking, you’ll see that M&A is slightly more nuanced than that.

      #dropsthemic


      Reply
  2. hippydog

    Sadly, (and I realize it makes me a bitter old man), but I still hate Gracenote..
    WE (the people) helped build the database that made them worth money (initially) and then it was sold and we had to start paying to access the same information many of us spent hours typing in..
    :-(


    Reply

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