McLEAN, VA – Gannett Co., Inc. (parent company of WKYC-TV) 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. The combination with Belo nearly doubles Gannett’s broadcast portfolio and creates the largest independent station group of major network affiliates in the top 25 markets, including stations to be serviced by Gannett under shared services and similar arrangements. Gannett now reaches approximately one-third of all television households in America. It also significantly expands the company’s geographic reach and revenue diversity. Gannett will become the #1 CBS affiliate group, the #4 ABC affiliate group, and will expand its already #1 NBC affiliate group position. Gracia Martore, President and Chief Executive Officer of Gannett, said, “We are thrilled to combine these two storied media c...