Thursday, June 13, 2013

Gannett Announces Purchase of Belo

Source: KTHV  Gannett Co., the owner of THV 11 and other newspaper and television properties across the USA and United Kingdom, announced Thursday that it is entering into a definitive merger agreement with Belo Corp., catapulting Gannett into the nation's fourth-largest owner of major network affiliates reaching nearly a third of U.S. households.

Belo owns and operates 20 TV stations -nine in the top 25 markets - and their associated websites.

The acquisition nearly doubles Gannett's current broadcast portfolio from 23 to 43 stations, including stations to be serviced by Gannett through shared services or similar sharing arrangements.

Gannett will acquire all outstanding shares of Belo for $13.75 per share in cash, or approximately $1.5 billion, plus assume $715 million in existing debt for an enterprise value of approximately $2.2 billion. The transaction, which has been unanimously approved by the boards of directors of both companies, represents a 28.1% premium to the closing price of Belo common stock on June 12, 2013.

President and Chief Executive Officer Gracia Martore of Gannett, said, "We are thrilled to bring together two highly respected media companies with rich histories of award-winning journalism, operational excellence and strong brand leadership."

Belo's President and Chief Executive Officer Dunia Shive said, "This is an outstanding and financially compelling transaction for our shareholders. It is also a testament to the tremendous value our employees have created over Belo's long history and to the strength of our brand in the media industry."

50 Comments:

At 10:35 PM, June 13, 2013, Anonymous Anonymous said...

Get ready for the layoffs...master control, traffic, billing, production...then cookie-cutter "news". Don't believe a word Gannett or Belo says about independent ownership or newsrooms. They'll gut newsrooms in those five markets where there is overlap.

 
At 11:02 PM, June 13, 2013, Anonymous Anonymous said...

Here we go again. Tick tock people. It's time to move on.

 
At 1:42 AM, June 14, 2013, Anonymous Anonymous said...

Say goodbye to any raises (those of you that are left) for at least two years. Sales Department will put on more help. It's probably the only safe-from-layoffs department in the building. Gotta pay for the new toy somehow.

 
At 8:08 AM, June 14, 2013, Anonymous Anonymous said...

Gannett's portfolio includes some real stations, not the crap that Nexstar buys.

 
At 9:50 AM, June 14, 2013, Anonymous Anonymous said...

This news is a shame - I always considered Belo to be one of the best owners and operators of local TV. Now Gannett will come in and --- well, you know.

 
At 11:03 AM, June 14, 2013, Anonymous Anonymous said...

That companies that you speak of that had "good" owners and operators ran themselves into the ground by having too much over head. The companies that have survived are the ones that operate as a business (because, it is a business). You can't spend more money on salaries, helicopters, new sets, new fancy graphics, etc. than what you are taking in (revenue). The people that still live in the fantasy world that those companies will some how come back are highly mistaken. The only way local tv is going to live is if everyone gets on the same page and treat it as a revenue generating machine.

No... I am not in sales. I am one of the few news people that get it!

This is great news for the Belo family. They had 710 million in hard debt and became too expensive to operate. Yes, there will be some consolidation of resources in Accounting, Traffic and Master Control. That is to be expected and is a GREAT idea!

 
At 11:27 AM, June 14, 2013, Anonymous Anonymous said...

If you were in Accounting, Traffic, and Master Control you would have a different opinion.

 
At 12:17 PM, June 14, 2013, Anonymous Anonymous said...

I don't think anyone in Gannett will be dramatically affected, even at THV.

However, if you're working for KMOV in St. Louis (Belo), update the resume when KSDK (Gannett) takes over. They'll keep most anchors but probably drop half the KSDK-KMOV reporters and a few anchors.

In 12 months, St. Louis (Market 22) will have two TV newsrooms.

 
At 10:37 PM, June 14, 2013, Blogger Jason Wood said...

Lauren Trager works at KMOV if u want to beat 7 bring her back

 
At 11:08 PM, June 14, 2013, Anonymous Anonymous said...

Yes because she really pulled in the viewers at 4! Lol

 
At 1:55 PM, June 15, 2013, Anonymous Anonymous said...

You're not that bright are you Jason?

 
At 2:48 PM, June 15, 2013, Anonymous Anonymous said...

Pulled in viewers? Your are living in a dream world. lol

 
At 8:20 PM, June 15, 2013, Blogger Jason Wood said...

1;55 PM i have broken some stories on this website


who knows u might be right

but not being in TV makes me a little smart

i am glad i do not have to deal with prima-donna-news-anchors like some of u do


7 is winning the ratings because of 1 thing wheel of foutune

 
At 10:36 PM, June 15, 2013, Anonymous Anonymous said...

So they sweep the entire book because of wheel? Wow, just wow.

 
At 9:52 AM, June 16, 2013, Anonymous Anonymous said...

7 is not great but at this point they put out by far the best product in the market. I used to like 4 the best but the merger screwed them up as well as 16. 11 has been a train wreck for years.

 
At 1:31 AM, June 17, 2013, Anonymous Anonymous said...

Many of the prima-donna news anchors are on the same scale of high-paid escorts, it's just that they think they are actual journalists...but they merely major in hairspray, makeup and read from a box. Kinda like escorts do.

 
At 7:24 AM, June 17, 2013, Anonymous Anonymous said...

9:52, I agree with you. 4 has been slipping for a couple of years I guess. The anchoring and reporting used to be much better. 7 has improved during that same time period. But let's face it, not station is really all that great. The news used to be appointment tv for me. Now I don't care if I miss it. The stations don't care, why should I? It takes more than promos to hang on to viewers.

 
At 9:45 AM, June 17, 2013, Anonymous Anonymous said...

Glad you said "many" and not "all" because some of the anchors are very very under paid and are hard working journalists. things are not always as they may seem. Some of the highest paid are the laziest.

 
At 11:48 AM, June 17, 2013, Anonymous Anonymous said...

So true. That also extends to certain employees and managers as well.

 
At 12:44 PM, June 19, 2013, Anonymous Anonymous said...

Can't pay decent wages but able to spend millions to buy another company. That's the way to go.

 
At 1:55 PM, June 19, 2013, Anonymous Anonymous said...

Exactly, that's the current state and future of broadcasting. That's why so many of us have gotten out.

 
At 4:57 PM, June 19, 2013, Anonymous Anonymous said...

9:45 AND 11:48 IT IS NOT HOW HARD AN ANCHOR WORKS THAT MATTERS, SOME DON'T WORK AT ALL, BUT THE RATINGS AND FOLLOWING THEY BRING TO THE STATION. i AM CONVINCED THAT IS WHY SOME ARE PAID SO MUCH WHILE OTHERS ARE NOT.

 
At 8:49 PM, June 19, 2013, Blogger TVPixGuy. said...

To 4:57...
Please drop the caps, no need to yell here.

 
At 11:42 AM, June 20, 2013, Anonymous Anonymous said...

What is wrong with using all capital letters? Makes it easier for me to read. Get over it.

Added note: Broadcasters will always spend more money to buy more stations before they will try to improve wages or conditions at the one(s) they presently own. It's the thing to do in the world where they can get people off the street to work at a station as a hobby with no pay. Sales rules in broadcasting. They are management's fair-haired children.

 
At 12:22 PM, June 20, 2013, Anonymous Anonymous said...

@11:42

All caps is SHOUTING, and is internationally know as RUDE, and BAD MANNERS.

As to your second comment. Sales people come and go, and just as interchangeable as everyone else in broadcasting.

 
At 10:12 PM, June 23, 2013, Anonymous Anonymous said...

I guess it is in your world. You haven't been in broadcasting long, have you.

 
At 1:06 AM, June 24, 2013, Blogger James Cieloha said...

I would rather see Gannett spinning off KSAW, KMSB/KTTU, and KMOV to Meredith and combined the operations of KSAW with KPHO, and spinning off KTVK, and WHAS to Scripps and combined the operations of KTVK with KNXV with ABC moving to KTVK and KNXV becomes independent for competitive reasons and a very true win-win situation for Gannett, Meredith, and Scripps. LIN could buy WSET, WCIV, and maybe WHTM from Allbritton and KSTU, KDVR and turned into a CW station which CBS could buy and form a duopoly with KCNC with KWGN getting FOX, WDAF, KTVI and turned into a ABC station with KPLR getting FOX and KDNL getting CW for competitive reasons and a very true win-win situation in Saint Louis, WITI with the option of also acquiring WIWN from Pappas if they would want to fully sale the station in the future, WJW, WHNT, WGHP and turned into a ABC station with WXLV getting FOX, and maybe WNEP from Local TV LLC, while Meredith could buy KWGN and KPLR if Tribune would ever sale various stations to help pay off it's debt from their 2008 bankruptcy along with the ability to buy KSL in Salt Lake City from Bonneville International if they decides to want to sale the station completely as a way for KSL to be able to keep it's NBC affiliation and buy KFOR/KAUT, KFSM/KXNW, WHO, WQAD, WREG, WTVR, and WTKR/WGNT from Local TV LLC. I would allow FOX or Nexstar to buy KPLR and KWGN from Tribune if I still want Meredith to own KSAW, KMSB/KTTU, and KMOV from Belo.

I would be okay with Hearst getting KATV, and KTUL, with LIN getting WSET, WCIV, and maybe WHTM or with Nexstar getting WHTM and Sinclair transferring the license of WLYH to Cunningham and continue to fully owned WHP, and with Sinclair getting the combined WBMA LD/WJSU/WCFT with the intent of using the the combined WBMA LD/WJSU/WCFT to program FOX on it's DT1 channel and MYNET on it's DT2 channel while WABM continues to program MYNET on it's DT1 channel and add FOX on it's DT2 channel. Sinclair keeps the CW affiliation on WTTO and WDBB. Sinclair could transfer the license of WTTO and WDBB to Cunningham and WABM to Deerfield while Sinclair fully owns the combined WBMA LD/WJSU/WCFT combo or Raycom could buy the combined WBMA LD/WJSU/WCFT combo and place it under the control of American Spirit Media with the intent to move the FOX affiliation there on it's DT1 channel with WBRC rejoining the ABC Network on it's DT1 channel. The combined WBMA LD/WJSU/WCFT combo would air WBRC on it's DT2 channel or all of it's programming 24/7 with ABC is transferred and switched onto WBRC while WBRC would air the WBMA LD/WJSU/WCFT combo on it's DT2 channel or all of it's programming 24/7 with FOX is transferred and switched onto the WBMA LD/WJSU/WCFT combo.

 
At 7:34 AM, June 24, 2013, Anonymous Anonymous said...

Yeah... What he said.

 
At 11:30 AM, June 24, 2013, Anonymous Anonymous said...

Where was Alyse this morning?

 
At 2:10 PM, June 24, 2013, Anonymous Anonymous said...

10:12 PM
No, it's not just in my world. All caps is something that's internationally known as shouting, and improper internet etiquette.
As to your second question, no I haven't been in broadcasting all that long. Only 24 years as of January.

 
At 2:15 PM, June 24, 2013, Anonymous Anonymous said...

@11:30 Ashley was gone several days last week too so maybe they're trying to switch things up?

 
At 9:18 AM, June 25, 2013, Anonymous Anonymous said...

@ 2:10

24 years in broadcasting. Must be in sales or production and soon-to-be-replaced by robotics. Check your retirement and see how that is coming along. Recommend you get a retirement program going that will be stable when that start to flush you.

 
At 10:16 AM, June 25, 2013, Anonymous Anonymous said...

24 years is longer then a most of the posters on here have been alive.

 
At 10:22 AM, June 25, 2013, Anonymous Anonymous said...

I think Ashley was at a conference.

 
At 10:51 PM, June 26, 2013, Anonymous Anonymous said...

Anonymous said...

"24 years is longer then a most of the posters on here have been alive."

10:16 AM, June 25, 2013

. . . and by that you are saying? What department are you in. I am guessing sales but probably custodian.

 
At 9:49 AM, June 27, 2013, Anonymous Anonymous said...

If you can't figure it out then ask someone to explain it to you. Wrong on both counts so keep "guessing."

 
At 11:37 AM, June 27, 2013, Anonymous Anonymous said...

I'll explain it for you. He or she is saying you are young and don't know anything. You think you do, but you don't. Your naive lookout on life and this business is laughable to those of us who have been in it a while.

For this reason, I rarely post on this blog. It's more entertaining to watch you kids attempt to make sense of all this with your childish and hateful comments.

 
At 1:44 AM, June 29, 2013, Anonymous Anonymous said...

There are people out there that would do your job for free if management would hire them. Sales is the only secure job in the building.

 
At 12:33 PM, June 29, 2013, Anonymous Anonymous said...

Ah, no that's not true. I've never seen all the same sales people stay at the same station. There've been several that followed me from one station to another.

 
At 10:55 AM, June 30, 2013, Anonymous Anonymous said...

Very well said 11:37 AM.

 
At 9:06 AM, July 01, 2013, Anonymous Anonymous said...

"Word of the Day" from KTHV news.

"Intoxitated"

How many heard the weekend talking head say this?

 
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At 9:08 PM, July 06, 2013, Anonymous Anonymous said...

Say wha . . .?

 
At 6:38 PM, July 07, 2013, Anonymous Anonymous said...

I wouldn't click on that link if you paid me.

 
At 9:57 AM, July 12, 2013, Anonymous Anonymous said...

The robot masquerading as a non-robot strikes again.

 
At 11:15 PM, July 12, 2013, Anonymous Anonymous said...

Yes, it's pitiful. Some folks have just oodles of time to waste.

 
At 7:41 AM, July 24, 2013, Anonymous Anonymous said...

That's hilarious and sad all at the same time. I missed the word you referenced, but they really do have a noticeable problem with pronunciation. Just watch Ashley on the morning show. I don't know if they still give anchors copy to review or if they just wing it off the prompter, but she really needs to find a way to review her material in advance and do some homework.

 
At 1:07 PM, July 25, 2013, Anonymous Anonymous said...

Sadly that is typical of current standards. Be grateful she didn't pronounce maintenance as "main taint nance."

 
At 3:06 AM, July 29, 2013, Anonymous Amelia said...

This is cool!

 
At 10:58 AM, August 09, 2013, Anonymous Anonymous said...

Today's words are:
San Juancito Mountains
Cornith, MS
nucular

 

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