Tribune Media Company and the Chicago Cubs have announced that Chicago Entertainment Ventures, LLC, the Cubs’ parent company, has completed the purchase of Tribune’s remaining five per cent membership interests in Chicago Entertainment Ventures.

The transaction occurred pursuant to the exercise of a purchase right under the parties’ agreements and concludes Tribune’s ownership interest in the Cubs and their affiliates.

Tribune Media Company is home to a diverse portfolio of television and digital properties driven by news, entertainment and sports programming. It includes Covers Media Group, a source of online sports betting information Chicago’s WGN-AM, and the national multicast networks Antenna TV and THIS TV.

The Chicago Cubs franchise, a charter member of Major League Baseball‘s National League since 1876, has won the National League pennant 17 times and was the first team to win back-to-back World Series titles in the 1907 and 1908 seasons. In 2016, the Chicago Cubs made history again when the team won its first World Series in 108 years, ending the longest championship drought in North American sports.