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Gannett Co. to Acquire Belo Corp.

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Gannett Co. to Acquire Belo Corp.

Gannett Co. will be the US’s fourth largest owner of network affiliates when it purchases Belo Corp. for $2.2 Billion, a deal that has been unanimously approved by the boards of both companies. In Tucson, Belo owns KMSB (Fox affiliate) and KTTU (My affiliate). Gannett owned the Tucson Citizen here. What will be interesting in the Tucson media market is to see how this will (or will not) impact the Shared Services Agreement between Belo’s KMSB and KTTU, with Raycom’s KOLD. The associated stations are housed under one roof in NW Tucson, on Business Park Drive. The agreement originated roughly two years ago and has resulted in the sharing of services and resources for news, digital presence and shared a General Manager.

Gannett Co. owns 82 newspapers nationwide including USA Today. Before the acquisition deal, Gannett already owned 23 TV stations. Gannett will now own 43 TV stations and boast the ability to reach roughly 1/3 of US households in total.

Get the full story:

http://www.usatoday.com/story/money/business/2013/06/13/gannett-belo/2418219/

This article was written by danohawk

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