News Brief

Tribune Sets $2 Billion Repurchase, Asset Sales

Tribune Co. this morning announced plans to spend upwards of $2 billion to repurchase as much as 75 million shares, or about 25 percent of its common stock. The repurchases would be funded through a combination of bank debt and bonds, which would be repaid from a combination of free cash flow and proceeds from at least $500 million in non-core asset sales.