Texas News
2:00 pm
Fri December 20, 2013

FCC Approves Gannett's Purchase Of Dallas-Based Belo Corp.

The Federal Communications Commission has approved Gannett Co.’s purchase of Dallas-based Belo Corp., including WFAA-TV (Channel 8). It’s the final regulatory clearance for the $1.5 billion deal for several TV stations across the country.

Bloomberg reports:

Gannett, which owns 23 TV stations, agreed in June to purchase Dallas-based Belo including its 20 stations.

The deal would make Gannett the fourth-largest owner of major network affiliates, reaching about one-third of U.S. households, according to the company.

The FCC’s approval came in an order released today by e-mail. An earlier Justice Department settlement requires the companies to sell KMOV-TV in St. Louis to preserve competition in a market where Gannett and Belo overlap.

Gannett, based in McLean, Virginia, also owns 82 U.S. daily newspapers, including USA Today.

Adding TV stations gives Gannett leverage in negotiating licensing fees for cable and satellite companies to use its signals.

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