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Indianapolis TV stations sold in Tribune deal.

April 2, 2007

Tribune Co., the Chicago media company that owns Indianapolis Fox affiliate WXIN-TV Channel 59 and the local CW network affiliate, WTTV-TV Channel 4, said it has accepted an $8.2 billion acquisition offer from cross-town real estate magnate Sam Zell.

The Chicago Tribune and Los Angeles Times are Tribune's flagship properties. Zell said he would put Tribune’s Chicago Cubs baseball team up for sale because he owns part of the Chicago White Sox.

Tribune Co. was pushed into putting itself up for sale in September after the Chandler family, which sold the Los Angeles Times to the company in 2000 and retained an ownership stake, complained that Tribune Co.’s stock was languishing.

 

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