With 550 million look-ups per day and metadata about more than 180 million tracks, Gracenote?s database is the largest source of music data in the world, according to Gracenote.
Tribune owns the Chicago Tribune, the Los Angeles Times, other newspapers, and numerous TV stations.
Sony expects to record a gain within operating income of approximately $60 million at the completion of the sale, based on the above sale price, subject to standard adjustments.
Sony included an anticipated gain from this sale in the forecast for the fiscal year ending March 31, 2014, which was announced on October 31, 2013.
Sony expects this sale to close prior to March 31, 2014.