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Belo

Belo Corporation
Public
Traded as NYSE: BLC
Industry Broadcasting, Television, Interactive media
Fate Acquired by Gannett
Successor Gannett Company
Tegna, Inc.
Founded 1926
Defunct December 23, 2013
Headquarters Dallas, Texas, United States
Key people
Dunia Shive
(President and CEO)
Revenue US$687 million (FY 2010)[1]
US$216 million (FY 2010)[1]
US$86.9 million (FY 2010)[1]
Total assets US$1.59 billion (FY 2010)[2]
Total equity US$171 million (FY 2010)[2]
Number of employees
6,600

Belo Corporation was a Dallas-based media company that owned 20 commercial broadcasting television stations and two regional 24-hour cable news television channels. The company was previously known as A. H. Belo Corporation after one of the early owners of the company, Alfred Horatio Belo, now the name of the newspaper company spun off from Belo early in 2008. Belo had its headquarters in the Belo Building in Downtown Dallas, designed by Dallas architects Omniplan and constructed between 1983 and 1985.[3]

Contents

  • History 1
  • Former Belo-owned Television Stations 2
  • Cable networks 3
    • Online presence 3.1
  • References 4

History

The Belo Tower in Downtown Dallas.

The company traces its roots back to 1842 with the introduction of The Daily News in Galveston, Texas. Its flagship, The Dallas Morning News, has been publishing since 1885. The name A.H. Belo Corporation was applied to the company in 1926. The name was shortened to Belo Corporation in 2002.

On October 1, 2007, Belo announced the separation of its newspaper and television businesses by spinning off its newspaper business to shareholders as A. H. Belo, officially completed in February 2008. The television business retains the Belo Corporation name (without the "A. H." initials).[4] The spin-off was structured so that the broadcasting company is the legal successor to the prior company.[5]

In September 2010, Belo became the first non-ABC group to sign on with the Live Well Network, adding it to 5 of their stations (WFAA, KMOV, WCNC-TV, WVEC, & WWL-TV) on November 8, 2010.[6]

On June 13, 2013, Free Press) and pay television providers (such as Time Warner Cable and DirecTV) called for the FCC to block the acquisition.[8][9]

The concerns were especially pronounced in St. Louis, since the merged company would have controlled two of the three news departments run by "Big Four" stations in that city--KMOV, which was to have been sold to Sander, and Gannett-owned KSDK. On December 16, 2013, the United States Department of Justice threatened to block the deal unless Gannett, Belo and Sander completely divested KMOV to a government-approved third-party company that would be barred from entering into any agreements with Gannett, in order to fully preserve competition in advertising sales with KSDK. Justice claimed that Gannett and Sander would be so closely aligned that Gannett would have dominated spot advertising in St. Louis.[10] On December 20, the deal was approved by the FCC.[11] With the completion of the deal on December 23,[12] on the same day Gannett and Sander agreed to sell KMOV, KTVK and control of KASW for $407.5 million to Meredith Corporation (which owns KPHO-TV in the Phoenix market); Sander served as caretaker owner of those stations during the sale process, and SagamoreHill Broadcasting would take on KASW's license.[13] Meredith's purchase of KMOV was completed on February 28, 2014,[14] and its purchase of KTVK, along with SagamoreHill's purchase of KASW, were completed on June 19. SagamoreHill has since been forced to divest KASW to the Nexstar Broadcasting Group; that sale closed on January 30, 2015.

On June 29, 2015, Gannett split into two companies, one specializing in print media and named "Gannett," and the other specializing in broadcast and digital media. The latter company, Tegna, retained most of the Belo stations and is the legal successor to the company that previously bore Gannett's name.

Former Belo-owned Television Stations

Stations are arranged in alphabetical order by state and city of license.

Notes:

  • (**) - Indicates a station owned by Dun & Bradstreet subsidiary Corinthian Broadcasting prior to its acquisition by the original A.H. Belo Corporation in 1984.
  • (++) - Indicates a station owned by the Providence Journal Company prior to its acquisition by the original A.H. Belo Corporation in 1997.

Cable networks

Online presence

In addition, Belo operates websites for each of its properties. The sites were formerly part of a separate company, known as Belo Interactive. In late 2004, the company began the process of reintegrating the sites into sister media properties. One of its most infamous investments was in the failed CueCat and its parent company, Digital Convergence. Belo integrated its media properties to be able to use the device, but it never took off.

Belo is also one of the major investors in Classified Ventures, LLC.

In late 2009, Belo began transitioning the Web operations of its television stations from a largely in-house operation to the Broadcast Interactive Media platform. The first such relaunches were the Web sites of its Arizona station properties—KTVK/KASW in Phoenix and KMSB/KTTU in Tucson—which launched in September 2009. The transition (at least for the major Belo television properties) was completed on November 19, 2009 when WFAA in the Dallas–Fort Worth metroplex relaunched its Web site.

References

Notes

  1. ^ a b c Belo (BLC) annual SEC income statement filing via Wikinvest.
  2. ^ a b Belo (BLC) annual SEC balance sheet filing via Wikinvest.
  3. ^ "Contact Us." Belo. Retrieved on November 21, 2009. See also Judith Garrett Segura, Belo: From Newspapers to New Media. Austin: University of Texas Press, 2008.
  4. ^ "Belo to Create Separate Television and Newspaper Businesses". Belo Corp. 2007-10-01. 
  5. ^ http://www.belo.com/pressRelease.x2?release=20080208-1532.html
  6. ^ Malone, Michael (September 29, 2010). "Adds ABC's Live Well Network". Broadcasting & Cable (NewBay Media). Retrieved December 3, 2014. 
  7. ^ "Gannett to buy Belo for $1.5 billion". Reuters. 2013-06-13. 
  8. ^ Free Press, Others Ask FCC To Deny Some Gannett/Belo Transfers, Broadcasting & Cable, July 24, 2013.
  9. ^ Public Interest Groups, Cable Companies Oppose Gannett-Belo Merger, AdWeek, July 25, 2013.
  10. ^ Eggerton, John (December 16, 2013). "Justice: Sander Can't Keep KMOV".  
  11. ^ "FCC OKs Gannett-Belo And Tribune-Local". TVNewsCheck. Retrieved 20 December 2013. 
  12. ^ Gannett Completes Its Acquisition of Belo, TVNewsCheck, Retrieved 23 December 2013
  13. ^ "Meredith Buying Three Stations From Gannett". TVNewsCheck. Retrieved 23 December 2013. 
  14. ^ Brown, Lisa (February 28, 2014). "Meredith Corp. closes on $177 million purchase of KMOV".  

Further reading

  • Reed, Roy (September 1998). "State of The American Newspaper: Giant".  
  • Segura, Judith Garrett (2010). Belo: From Newspapers to New Media.  


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