Gannett to Buy Broadcaster Belo for $2.2 Billion

Deal will nearly double newspaper firm's TV holdings

The TV broadcasting business has just gotten a major vote of confidence from Gannett, the No. 1 U.S. newspaper company. This morning, Gannett announced that it agreed to buy regional television company Belo in a $2.2 billion dollar deal, creating what it calls a broadcast “Super Group” and nearly doubling the size of its TV holdings.