On December 21, 2007, Tribune and Oak Hill Capital Partners-controlled Local TV, LLC announced plans to collaborate in the formation of a "broadcast management company" (later named The Other Company). On January 31, 2008, Tribune Company announced it would purchase real estate leased from TMCT, LLC, which included properties used by the "Los Angeles Times", "Newsday", "Baltimore Sun" and "Hartford Courant". The company received an option to purchase the real estate for $175 million through the 2006 restructuring of TMCT, LLC.