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US: DOJ clears $1.5B cable buyout, with concessions

By  |  December 17, 2013

The US Department of Justice has approved of a $1.5 billion buyout of Belo Corp. by purchaser Gannett Co., though the regulator will require Gannett to divest some assets.

Reports say the parties agreed to sell a St. Louis television station, KMOV-TV, so as to not harm competition in the area.

The deal was first announced last June. With the DOJ’s approval, Gannet said it will now become the nation’s fourth-largest major network affiliate owner and will reach about one-third of US households.

Full Content: Delaware Online

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