New York, May 08, 2015 -- Moody's Investors Services said on May 7, 2015, Tribune Publishing Company ("Tribune Publishing") announced that it has entered into an agreement to acquire MLIM, LLC, owner of the San Diego Union-Tribune, as well as nine community weeklies and related digital properties in San Diego County for $85mm, with $73 million paid in cash and remainder in Tribune Publishing common stock. Tribune will also assume the obligations of the seller's pension plan, however, real estate assets of the seller are not part of the purchase. Tribune intends to fund the cash portion of the purchase price using cash on the balance sheet, incremental draw on its senior asset based revolving credit facility and exercise $50 million of the accordion feature on its existing Term Loan. Although leveraging, this transaction provides Tribune Publishing with long term growth, and thus there is no immediate impact on ratings and the outlook is stable.

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