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Add-on Acquisition • Media

TEGNA Acquires Belo

On December 23, 2013, TEGNA acquired media company Belo for 2.2B USD

Acquisition Context
  • This is TEGNA’s 9th transaction in the Media sector.
  • This is TEGNA’s 2nd largest (disclosed) transaction.
  • This is TEGNA’s 21st transaction in the United States.
  • This is TEGNA’s 2nd transaction in Texas.

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M&A Deal Summary
Date December 23, 2013
Target Belo
Sector Media
Buyer(s) TEGNA
Deal Type Add-on Acquisition
Deal Value 2.2B USD
Advisor(s) RBC Capital Markets (Financial)
Wachtell, Lipton, Rosen & Katz (Legal)

Target Company

Belo

Dallas, Texas, United States
Our success starts with journalism that has a direct impact on people's lives. With a rich heritage of journalistic achievement. Belo Corp. a television coompany.
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Buyer Overview 1

Buyer

TEGNA

Tysons, Virginia, United States
Category Company
Founded 1906
Sector Media
Employees6,430
Revenue 3.1B USD (2024)
DESCRIPTION

TEGNA is a diversified media company. The Company operates through two business segments, Media and Digital. The Media segment comprises of 46 television stations in 38 markets. The Digital segment consists of the Cars.com (formerly Classified Ventures LLC) and CareerBuilder businesses. TEGNA was founded in 1906 and is based in Tysons, Virginia.

Deal Context for Buyer #
Overall 21 of 26
Sector: Media 9 of 14
Type: Add-on Acquisition 15 of 16
State: Texas 2 of 2
Country: United States 21 of 26
Year: 2013 1 of 1
Size (of disclosed) 2 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-10-19 Rovion

Boston, Massachusetts, United States

Rovion, Inc.a Ad Composer, includes a self-service technology platform that enables the full development and deployment of rich media and mobile HTML5 ads without requiring coding expertise.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-05-14 Six TV stations

United States

six television stations in the Lone Star State from London Broadcasting Co.

Buy $215M

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