Gannett and Tribune pivot to TV: Is it wise?

First of two parts. The second part is here. 

Turning away from their roots in the newspaper business, Gannett Inc. and Tribune Co. are embarked on a pair of ambitious transactions that will transform them into two of the largest players in local TV broadcasting, but here’s the irony:

They are trading their prominence in one fading media vertical for dominance in another legacy business that