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Tribune plans to spend $2.73 billion on local TV, Donald Trump sues the Scottish government over a wind farm, and more

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1. TRIBUNE TO SPEND $2.73 BILLION ON LOCAL TV

Tribune Co. agreed to buy all 19 of Local TV Holdings LLC's television stations for $2.73 billion, the largest deal of its kind since 2000. Tribune will now own 42 stations, making it the biggest station-owning company in the U.S. "Our investment thesis is simple: scale matters," said Tribune CEO Peter Liguori. "Clearly, on an industry front, there is an acceleration of consolidation, and that's to be expected. We're a mature business, and mature businesses witness levels of consolidation." [The Wall Street Journal]

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Carmel Lobello is the business editor at TheWeek.com. Previously, she was an editor at DeathandTaxesMag.com.