Tribune Selling Atlanta TV Station to Gannett

Tribune Co. said it was selling WATL-TV in Atlanta to Gannett Co. for $180 million, part of the media company’s strategy to boost its stock price.

Tribune, whose holdings include the Los Angeles Times and Chicago Tribune newspapers and 26 television stations, said last week that it would use debt to buy back as many as 75 million shares, sell at least $500 million in noncore assets and reduce operating expenses by $200 million over the next two years.