Gannett is set to become the fourth-largest owner of network affiliates in the U.S. after the FCC gave its green light for two of the largest station acquisition deals of 2013.
Gannett’s purchase of Belo for $1.5 billion—which AdWeek says could close as early as Monday—would give the company 42 stations that reach into one-third of the U.S. market. To gain FCC and Department of Justice approval, Gannett agreed earlier this week to sell CBS affiliate KMOV in St. Louis to preserve competition in the market.
The other deal, Tribune’s purchase of Local TV for $2.73 billion, will give the company 61 stations reaching 50 million households, creating the largest local TV group in the country.
Read More: AdWeek
Brief Take: Both deals relied on so-called Shared Services Agreements to get around ownership limits, but the FCC warned that companies shouldn’t take approval for granted. The commission said it would continue to scrutinize their use going forward.
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