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Tribune, Times Mirror to merge

Published on .

Chicago--The Tribune Co. and the Times Mirror Co., Los Angeles, announced Monday that they have agreed to merge in a cash and stock deal valued at $8 billion. The new company will own newspapers in the three largest markets in the United States: New York (Newsday), Los Angeles (The Los Angeles Times), and Chicago (Chicago Tribune). The merger comes in an era when business-to-business marketers are increasingly using business sections in local newspapers as part of national media buys.
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