Tribune has closed the $170 million deal of Gracenote
The Tribune Company has closed the acquisition of Gracenote from Sony. Tribune Company agreed to spend $170 million to buy Gracenote in December. Gracenote will be rolled into Tribune Media Services, which is the division that sells entertainment metadata like TV listings and movie times. Gracenote will enable Tribune to offer streaming music services and automotive infotainment. Tribune and Gracenote have a goal of offering services on smart TVs.
“We think it is important to double down on the automotive space, which is changing fast with things such as self-drving cars,” stated Shashi Seth, president of Tribune Digital Ventures. “There will be a significant space in users’ lives and we think that journey begins today.” Gracenote is integrated in 50 million cars. Gracenote will continue to operate from their headquarters in Emeryville, California.