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WASHINGTON, DC, September 26, 2007 — Covington & Burling LLP advised Belo Corp. in a new strategic partnership with Mochila, Inc. whereby Belo will become a premier content syndication partner in the Mochila online content marketplace. In addition, Belo has made an equity investment in Mochila. Covington represented Belo with respect to both the online content syndication arrangement and the equity investment. Belo is among the nation’s largest media companies, with a diversified group of market-leading newspaper, television, cable and interactive media assets. Mochila is the first global online media marketplace for text, video and photo content for publishers, editors, content creators and advertisers. Under the deal, announced by the parties Monday, Belo will offer its local content for syndication and distribution via the Mochila marketplace, creating a new opportunity to monetize and expand the reach of Belo's content.
Partner Eric Greenberg and associate Peter Zern advised Belo on the transaction.