The Tribune Co said it would acquire 19 television stations from Local TV Holdings LLC for $2.73 billion in cash, a deal that would make it the largest TV station owner in the United States .
The deal is another step for Tribune, the publisher of the Los Angeles Times and the Chicago Tribune, to transform itself largely to a broadcast company as it seeks to sell off its newspaper division.
Tribune currently has 23 television stations and eight newspapers and emerged from bankruptcy protection in December.
Local TV is principally owned by Oak Hill Capital Partners.