Tribune Company to Acquire Gracenote

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1Q 2014 | IN-1018097

 

Tribune Company to Acquire Gracenote from Sony

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On December 23, 2013, Tribune Company, the parent of Tribune Media Services (TMS), announced that it had reached an agreement with Sony to acquire Gracenote. The deal was reportedly worth about US$170 million, which is likely between 0.8 and 1.2 times annual earnings. Sony has been struggling to bring more cash into its core businesses.

Tribune Company subsidiary Tribune Media Services (TMS) is well known as the largest provider of TV guide data (program information, timetables, etc.) within North America as well as worldwide.

Gracenote is best known for its audio databases, which back iTunes and most other popular audio services. However, Gracenote has also become a leading metadata supplier in a number of markets worldwide and has used its automatic content recognition database for music (required for services such as iTunes Match) to branch into TV and advertising-related services.

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