Gannett buys Belo!

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JayFarrar

JayFarrar

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Wowsers.

http://jimromenesko.com/2013/06/13/gannett-buys-belo-for-1-5-billion-deal-nearly-doubles-its-broadcast-portfolio/
 
This deal only seems to be for the TV stations, and it creates some overlap in St. Louis, among others as KSDK and KMOV will now be Gannett stations.

The newspapers Belo owned, were spun off into another company a couple years ago.
 
It's too bad. I think Belo has some of the top local news operations in the country. They spend money and don't mess around. Figure Gannett will find a way to trim TV staff and any nearby papers through "synergy." It's even worse out this way. The only other local affiliate worth a damn in local news just got bought by Sinclair.
 
Confirmed that the deal does NOT include the newspapers, via DMN:

http://www.dallasnews.com/business/headlines/20130613-gannett-buying-dallas-based-belo-corp.-wfaa-tv-in-2.2b-deal1.ece
 
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