December 20, 2016 / 11:45 AM / 7 months ago

BRIEF-Tribune Media to sell Gracenote for $560 million

1 Min Read

Dec 20 (Reuters) - Tribune Media Co

* Company announces intention to repay debt and declare special dividend of approximately $500 million in Q1 of 2017

* Tribune Media Co - tribune media will retain its ownership of business-to-consumer websites, Covers.com and Prosportsdaily.com

* Tribune Media Co - plans to continue its existing $400 million share repurchase program

* Tribune Media expects to receive approximately $500 million in after-tax proceeds from transaction

* Special dividend would be paid from existing cash

* Tribune Media to sell Gracenote for $560 million Source text for Eikon: Further company coverage:

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