Belo

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Belo Corporation
Former type Public
Traded as NYSE: BLC
Industry Broadcasting, Television, Interactive media
Fate Acquired by Gannett
Successor(s) Gannett Company
Founded 1926
Defunct December 23, 2013
Headquarters Dallas, Texas, United States
Key people Dunia Shive
(President and CEO)
Revenue IncreaseUS$687 million (FY 2010)1
Operating income IncreaseUS$216 million (FY 2010)1
Net income IncreaseUS$86.9 million (FY 2010)1
Total assets IncreaseUS$1.59 billion (FY 2010)2
Total equity IncreaseUS$171 million (FY 2010)2
Employees 6,600
Website www.belo.com

Belo Corporation /ˈbl/ 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

Coordinates: 32°46′35″N 96°48′20″W / 32.77639°N 96.80556°W / 32.77639; -96.80556

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.citation needed

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

On June 13, 2013, Gannett Company announced plans to buy Belo for $1.5 billion and the assumption of debt.6 Because of ownership conflicts that exist in markets where both Belo and Gannett own television stations and newspapers, Gannett planned to sell six Belo-owned stations--KMOV in St. Louis, WHAS-TV in Louisville, KMSB in Tucson, KGW-TV in Portland, Oregon and KTVK and KASW in Phoenix--to Sander Media, LLC, owned by former Belo executive Jack Sander. Gannett would have provided some services to the Sander stations under joint services agreements. Due to concerns about any possible future consolidation of operations of Gannett- and Belo-owned properties in markets where both own television stations or collusion involving the Gannett and Sander stations in retransmission consent negotiations, anti-media-consolidation groups (such as Free Press) and pay television providers (such as Time Warner Cable and DirecTV)called for the FCC to block the acquisition.78

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 Gannett-owned KSDK.9 On December 20, the deal was approved by the FCC. 10 With the completion of the deal on December 23,11 on the same day Gannett and Sander agreed to sell KMOV, KTVK and KASW for $407.5 million to Meredith Corporation (which owns KPHO-TV in the Phoenix market); Sander will serve as caretaker owner of those stations during the sale process.12 Meredith's purchase of KMOV was completed on February 28, 2014.13

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.
City of license / Market Station Channel TV (RF) Years Owned Current Ownership Status
Phoenix, AZ KTVK 3 (24) 1999-2013 Independent station owned by Sander Media, LLC
(Operated through a SSA by Gannett Company; Sale to Meredith Corporation pending.)
KASW 61 (49) 2000-2013 The CW affiliate owned by Sander Media, LLC
(Operated through a SSA by Gannett Company)
(Sale to SagamoreHill Broadcasting pending, to be operated by Meredith Corporation thereafter.)
Tucson, AZ KMSB-TV ++ 11 (25) 1997-2013 Fox affiliate owned by Sander Media, LLC
(Operated through a SSA by Raycom Media)
KTTU 18 (19) 2002-2013 MyNetworkTV affiliate owned by Tucker Operating Co., LLC
(Operated through a SSA by Raycom Media)
Sacramento - Stockton - Modesto KXTV ** 10 (10) 1984-1999 ABC affiliate owned by Gannett Company
Honolulu KHNL ++ 13 (35) 1997-1999 NBC affiliate owned by Raycom Media
Boise, ID KTVB ++ 7 (7) 1997-2013 NBC affiliate owned by Gannett Company
Twin Falls, ID KTFT-LD ++
(satellite of KTVB)
7 (20) 1997-2013 NBC affiliate owned by Gannett Company
Fort Wayne, IN WANE-TV ** 15 (31) 1984 CBS affiliate owned by LIN Media
Indianapolis WISH-TV ** 8 (9) 1984 CBS affiliate owned by LIN Media
Louisville, KY WHAS-TV ++ 11 (11) 1997-2013 ABC affiliate owned by Sander Media, LLC
(Operated through a SSA by Gannett Company)
New Orleans, LA WWL-TV 4 (36) 1994-2013 CBS affiliate owned by Gannett Company
WUPL 54 (24) 2007-2013 MyNetworkTV affiliate owned by Gannett Company
St. Louis, MO KMOV 4 (24) 1997-2013 CBS affiliate owned by Meredith Corporation
Santa Fe - Albuquerque KASA-TV ++ 2 (27) 1997-1999 Fox affiliate owned by LIN Media
Charlotte, NC WCNC-TV ++ 36 (22) 1997-2013 NBC affiliate owned by Gannett Company
Tulsa KOTV ** 6 (45) 1984-2000 CBS affiliate owned by Griffin Communications
Portland, OR KGW-TV ++ 8 (8) 1997-2013 NBC affiliate owned by Sander Media, LLC
(Operated through a SSA by Gannett Company)
Chattanooga WTVC 9 (9) 1980-1984 ABC affiliate owned by Sinclair Broadcast Group
Austin, TX KVUE 24 (33) 1999-2013 ABC affiliate owned by Gannett Company
Beaumont - Port Arthur, TX KFDM-TV 6 (21) 1969-1984 CBS affiliate owned by Sinclair Broadcast Group
Dallas - Fort Worth, TX WFAA-TV 8 (8) 1950-2013 ABC affiliate owned by Gannett Company
Houston, TX KHOU-TV ** 11 (11) 1984-2013 CBS affiliate owned by Gannett Company
San Antonio, TX KENS-TV 5 (39) 1997-2013 CBS affiliate owned by Gannett Company
Hampton - Norfolk - Portsmouth, VA WVEC-TV ** 13 (13) 1984-2013 ABC affiliate owned by Gannett Company
LNC (LNC 5) Cable 5 1997-2010 24-Hour News channel that was only available on Cox Cable; now defunct
Seattle - Tacoma, WA KING-TV ++ 5 (48) 1997-2013 NBC affiliate owned by Gannett Company
KIRO-TV 7 (39) 1995-1997 CBS affiliate owned by Cox Media Group
KONG 16 (31) 2000-2013 Independent station owned by Gannett Company
Spokane, WA KREM-TV ++ 2 (20) 1997-2013 CBS affiliate owned by Gannett Company
KSKN 22 (36) 2001-2013 The CW affiliate owned by Gannett Company

Cable networks

Availability Station, Channel Number Acquired/
Introduced
Notes
Seattle, Portland, Spokane, Boise NWCN (Northwest cable news), Channel Numbers Vary 1997 Acquired from part of the KING Broadcasting Group from merger with The Providence Journal Company.
Dallas, Houston, San Antonio, Austin, Corpus Christi, Laredo, Texarkana, Port Arthur/Beaumont, Waco, El Paso, Wichita Falls, Rio Grande Valley TXCN (Texas Cable News), Channel Numbers Vary 1999 Composed of news teams from: WFAA, Dallas; KHOU, Houston; KENS, San Antonio; KVUE, Austin
Boise 24/7 (news channel)
KTVB sub-channel: 7.2 / 26.2, 28, KZAK-LD: 49
2003 From KTVB.
New Orleans metropolitan area, Baton Rouge, Acadiana Region NewsWatch 15 15 1988 Composed of the WWL-TV news team, jointly owned by Belo Corporation and Cox Communications.

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. ^ "Gannett to buy Belo for $1.5 billion". Reuters. 2013-06-13. 
  7. ^ Free Press, Others Ask FCC To Deny Some Gannett/Belo Transfers, Broadcasting & Cable, July 24, 2013.
  8. ^ Public Interest Groups, Cable Companies Oppose Gannett-Belo Merger, AdWeek, July 25, 2013.
  9. ^ Eggerton, John (December 16, 2013). "Justice: Sander Can't Keep KMOV". Broadcasting & Cable. Retrieved December 16, 2013. 
  10. ^ "FCC OKs Gannett-Belo And Tribune-Local". TVNewsCheck. Retrieved 20 December 2013. 
  11. ^ Gannett Completes Its Acquisition of Belo, TVNewsCheck, Retrieved 23 December, 2013
  12. ^ "Meredith Buying Three Stations From Gannett". TVNewsCheck. Retrieved 23 December 2013. 
  13. ^ Brown, Lisa (February 28, 2014). "Meredith Corp. closes on $177 million purchase of KMOV". St. Louis Post-Dispatch. Retrieved February 28, 2014. 

Further reading

External links








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