Belo Corp (BLCBB.PK)
11 Oct 2012
|Market Cap (Mil.):||$1,343.66|
|Shares Outstanding (Mil.):||95.50|
(The following statement was released by the rating agency) NEW YORK, June 14 (Fitch) Fitch Ratings has placed the 'BB' Issuer Default Rating (IDR) and all outstanding ratings for Belo Corporation (Belo) on Rating Watch Positive, following the announcement of Gannett Co. Inc.'s (Gannett) planned acquisition of Belo. The ratings previously had a Positive Outlook. A full list of ratings appears at the end of this release. Gannett intends to acquire Belo at an enterprise value of $2.2 billion
- Gannett Co Inc shares soared 27 percent to a five-year high after the largest U.S. newspaper chain struck a $1.5 billion deal for television company Belo Corp, dramatically increasing TV's importance to Gannett's results. | Video
June 13 - Gannett Co Inc shares soared 27 percent to a five-year high after the largest U.S. newspaper chain struck a $1.5 billion deal for television company Belo Corp, dramatically increasing TV's importance to Gannett's results.
NEW YORK, June 13 - Wall Street opened little changed on Thursday as encouraging economic data offset concerns over an earlier-than-expected winding down of central bank stimulus that has propelled a rally in the U.S. equity market this year.
June 13 - Media company Gannett Co Inc said on Thursday that it agreed to pay $1.5 billion in cash to buy Belo Corp and assume $715 million in debt, giving television company Belo an enterprise value of $2.2 billion.
BRASILIA - Amazon Indians on Friday refused to end their occupation of a building site that has partially paralyzed work on the world's third largest hydroelectric dam for two days.
Feb 22 - Fitch Ratings has affirmed the 'BB' Issuer Default Rating (IDR) and all outstanding ratings for Belo Corporation (Belo). Fitch has revised the Rating Outlook to Positive from Stable. A full list of ratings appears at the end of this release. Metrics are well within Fitch's previously stated leverage threshold of 4.0x, in a political year (5.0x in a non-political year), and place the company at the higher end of the 'BB' ratings category. The ratings and Outlook reflect the continue
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