Belo Shareholders Back $2.2B Merger With Gannett

Law360, New York (September 25, 2013, 6:44 PM EDT) -- Belo Corp. shareholders have voted to approve the television company's $2.2 billion merger with Gannett Co. Inc., Belo said Wednesday, moving the deal one step closer to completion despite an investor suit and outside pressure from nonprofits.

In a special meeting held Wednesday, Belo shareholders backed a proposal to approve and adopt the merger agreement, in which Gannett would purchase outstanding Belo stock for $13.75 per share in cash, or about $1.5 billion, along with $715 million in existing debt, bringing the deal's value to $2.2...
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