By: Ken Doctor | Newsonomics
Today, you’d rather be a broadcasting company than a newspaper company. For Gannett, the Belo purchase —$1.5 billion in cash (plus assuming debt of $715 million) for 20 largely geographically complementary properties that makes it the fourth largest local broadcast company in the country — changes Wall Street’s perception of what kind of company it is. (Good USA Today map on station reach, here.) Early reaction attests to that: GCI is up 25% today. No longer is Gannett a newspaper company with broadcast and digital assets. It can now be thought of as a broadcast company with major newspaper and digital assets.