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WASHINGTON, DC, July 2, 2013 — Gannett Co., Inc. and Belo Corp. announced on June 13 that they have entered into a definitive merger agreement in which Gannett will acquire all outstanding shares of Belo for $13.75 per share in cash, or approximately $1.5 billion, and assume $715 million of Belo’s existing debt.
Covington & Burling advised Gannett, the Virginia-based media company, with respect to Federal Communications Commission rules and regulations pertaining to the transaction.
The Covington team was led by Jennifer Johnson with assistance from Kurt Wimmer, Eve Pogoriler, Libbie Canter and Kara Azocar.