Tribune Said to Seek $4.1 Billion of Loans for TV Station Deal

Tribune is seeking $4.1 billion of loans to finance its acquisition of television stations and to refinance debt, according to a person with knowledge of the transaction.

JPMorgan Chase & Co. is arranging a $3.8 billion seven-year term loan and a $300 million five-year revolving credit line for the Chicago-based company, said the person, who asked not to be identified because terms aren’t set. The bank is hosting a meeting with lenders on Oct. 31, 2013. Tribune announced in July 2013 that it was buying Local TV Holdings LLC’s 19 television stations in 16 markets for $2.73 billion in cash. The deal turns Tribune into the country’s largest commercial TV station owner, with a total of 42 from New York to Los Angeles and Miami to Seattle, the company said in a July 1 statement.