FCC approves Gannett-Belo deal
The FCC has approved Gannett's purchase of Belo, Gannett announced Friday. The companies expect the deal to close next week, "upon completion of remaining customary closing conditions."
The companies reached a decision earlier this week with the Department of Justice. The purchase will add 20 stations to Gannett's portfolio, bringing the number of TV stations it owns to 43. The companies announced the sale in June.
In July, some groups asked the FCC to block the deal, citing decreased competition and job losses as potential outcomes.