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EmeraldCityGrl

(4,310 posts)
Thu Jun 13, 2013, 11:23 AM Jun 2013

Gannett To Expand in TV with 1.5 Billion Belo Purchase

Source: Reuters

One Gannett shareholder said Belo would give the company much more leverage with advertisers.

"With one-third of the country covered by their TV stations, no automaker or auto dealer can ignore their power in the U.S.," said Bill Smead, chief investment officer of Smead Capital Management, which lists Gannett as its third-biggest holding.

"This is an undervalued company and even more undervalued with an additional 50 cents per share in earnings the first year," Smead said via an emailed statement.

CROSS-OWNERSHIP

Belo owns and operates 20 television stations, with nine in the top 25 markets, and their associated websites.

Read more: http://www.reuters.com/article/2013/06/13/us-belo-gannett-idUSBRE95C0G320130613



Including Belo's debt, the deal approaches 2.5 Billion.

Gannett will now reach one third of American Households.

Gannett is currently headquartered in Tyson's Corner, a suburb of Washington, D.C.

Gannett Media received criticism earlier this year for inputting WI. public employee's
salaries into online searchable databases. [link:http://www.bluecheddar.net/?p=27463|]
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Gannett To Expand in TV with 1.5 Billion Belo Purchase (Original Post) EmeraldCityGrl Jun 2013 OP
I wish I were long either company! xtraxritical Jun 2013 #1
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