Sony Corp. agreed to sell its Gracenote audio-recognition software business to Tribune Co. for $170 million, part of the consumer-electronics maker’s effort to shed units as it focuses on fewer products.
Tribune will combine Gracenote with its media-services division, which provides digital data on TV shows and movies, the Chicago-based broadcasting and publishing company said today in a statement. Sony acquired Gracenote in 2008 for about $260 million. The unit has annual sales of $100 million to $200 million, a person with knowledge of the business said last week.