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Slide #51. Gannett Co., Inc. — Belo Corp.
Gannett Co., Inc. (NYSE:GCI)
Gannett Co., Inc. (NYSE: GCI) announced today that it has completed its previously announced acquisition of Belo Corp. for $13.75 per share in cash, in addition to the assumption of $715 million of outstanding debt, for a total transaction value of $2.2 billion.
Gannett is a digitally focused media and marketing solutions company. Co.'s portfolio of media assets includes USA TODAY, local media organizations in several states in the U.S. and Guam, and Newsquest, a wholly owned subsidiary operating in the U.K. with several local media brands. Co. also owns the digital marketing services companies ReachLocal, Inc., UpCurve, Inc., and WordStream, Inc. and runs the media-owned events business in the U.S., GateHouse Live. Co. has two segments: publishing, which consists of its portfolio of local, regional, national, and international newspaper publishers; and Marketing Solutions, which is comprised of its digital marketing solutions subsidiaries.
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