U.S. media firm Gannett Co. said Thursday it would buy Belo Corp., a media company that operates 20 television stations.

The deal would jump Gannett’s television holdings from 23 stations to 43, The New York Times reported.

The deal was set up as a cash agreement that values Belo at $1.5 billion.

Industry analysts said television stations are stepping on the gas when it comes to mergers.

Read more about the Belo Corp., buyout at UPI.


Freddie Allen is the National News Editor for the NNPA News Wire and 200-plus Black newspapers. 20 million readers. You should follow Freddie on Twitter and Instagram @freddieallenjr.