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Slide #24. 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 owns, operates and invests in local media assets focused in small to mid-size markets. Co.'s main products include: daily newspapers; weekly newspapers, which publishe up to three times per week; shoppers, which are generally advertising-only publications; locally-focused websites, which extend Co.'s businesses onto the internet and mobile devices; business publications; UpCurve Cloud and ThriveHive digital marketing; and GateHouse Live. In addition to its main products, Co. also produces publications that address specific local market interests such as recreation, sports, healthcare and real estate.
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Buy (3.00 out of 4)
(ranked lower than approx. 60% of all stocks covered)
Based on Zacks ABR data;
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