Dec 20 Tribune Media Co, one of the
largest U.S. TV station operators, said on Tuesday it would sell
its media data unit, Gracenote, to advertising tracking company
Nielsen Holdings Plc for $560 million.
Tribune Media said in February that it had hired investment
banks Moelis & Co and Guggenheim Securities to explore
strategic options for the business.
Emeryville, California-based Gracenote, which began
operations as a CD metadata provider nearly 20 years ago, offers
a number of services such as audio and video content
recommendations, TV guide data and sports data.
Tribune acquired Gracenote from Sony Corp for $170
million in 2014.
Some of Gracenote's customers include Apple Inc,
Tesla Motors Inc, Time Warner Cable and Amazon.com Inc
Nielsen is known for its television ratings that are used to
determine ad rates for traditional TV commercials.
(Reporting by Liana Baker in San Francisco and Rishika Sadam in
Bengaluru; Editing by Anil D'Silva)