A PYMNTS Company

US: TV merger aims to build broadcast ‘super group’

By  |  July 8, 2013

Television conglomerate Belo Corporation announced plans to merge with Gannet Company in efforts to create what the companies describe as a broadcasting “super group.” Gannet, which released the news on Monday, will see major growth through the deal, valued at $1.5 billion. Reports say the company’s broadcasting portfolio will nearly double from 23 to 43 stations, and the firm will climb into the nation’s fourth-largest network affiliate owner. The buyout will include the assumption of 4715 million in debt currently held by Belo. Gannet expects to finalize the buyout of Belo by the end of the year; the deal remains subject to antitrust approval.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    Full Content: Forbes

    We’d love to be your preferred source for news.

    Please add us to your preferred sources list so our news, data and interviews show up in your feed. Thanks!

    Add as Preferred Source

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.