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Tribune to sell media data business to Nielsen for $560 mln
December 20, 2016 / 11:44 AM / in 10 months

Tribune to sell media data business to Nielsen for $560 mln

Dec 20 (Reuters) - 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)

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