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December 24, 2013

Tribune to buy Gracenote from Sony for $170mn

Gracenote will be merged with Tribune's media services business.

By CBR Staff Writer

Tribune has confirmed that it will buy Gracenote audio-recognition software business from Sony for $170mn.

This is said to be a part of Sony’s bid to offload certain units so as to focus on its strengths.

Tribune will combine Gracenote with its media services business.

Shashi Seth, president of Tribune Digital Ventures, a company which oversees of media services of Tribune, said Gracenote would ideally fit with TMS (Tribune Media Services).

"Both companies have substantial digital footprints and are well-respected leaders in their areas globally," said Seth.

"Together we will become an even greater force in the global entertainment data business by servicing new and existing customers with better data, new products, and new services to help an evolving entertainment industry."

The transaction is expected to conclude in the first quarter of 2014.

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