Covington & Burling served as communications regulatory counsel to Tribune Company in its $2.73 billion acquisition of Local TV Holdings, LLC. Completed today, the acquisition includes television stations in more than a dozen key markets. Debevoise & Plimpton served as deal counsel to Tribune Company.
Under the deal, Tribune will become the largest combined independent broadcast group and content creator in the country, with a total of 39 stations from New York to Los Angeles and Miami to Seattle. Local TV was principally owned by Oak Hill Capital Partners.
The Covington team was led by partners Mace Rosenstein and Matt DelNero, special counsel Eve Pogoriler and associate Kara Azocar.
