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