|Scripps to Acquire Henderson, Ky., Gleaner from Belo|
CINCINNATI, Oct. 5 /PRNewswire/ -- The E.W. Scripps Company (NYSE: SSP) has reached agreement to acquire The Gleaner in Henderson, Ky., from Belo Corp.
The acquisition is subject to government regulatory approval under the Hart-Scott-Rodino Act. Terms of the transaction were not disclosed. The Gleaner is a daily newspaper, published Tuesday through Sunday, with a circulation of about 11,000 daily and 13,000 on Sundays.
The Gleaner will add to Scripps' holdings in nearby Southwestern Indiana, where the company owns and operates the Evansville (Ind.) Courier & Press.
Belo, which acquired The Gleaner in 1997, announced its intentions to sell the newspaper earlier this year.
Belo (NYSE: BLC) is one of the nation's largest media companies with a diversified group of television broadcasting, newspaper publishing, cable news and electronic media assets. The company's Television Group consists of 18 stations reaching 14 percent of U.S. television households.
Belo owns six stations in four of the top 17 television markets: WFAA-TV (ABC) in Dallas/Fort Worth; KHOU-TV (CBS) in Houston; KING-TV (NBC) and KONG-TV (IND) in Seattle/Tacoma; and KTVK-TV (IND) and KASW-TV (WB) in Phoenix. In addition, the company owns five local or regional cable news channels and manages three television stations through local marketing agreements.
Belo's Publishing Division consists of eight daily newspapers, led by The Dallas Morning News, which has the country's seventh largest Sunday circulation and ninth largest daily circulation; The Providence Journal in Providence, R.I.; and The Press-Enterprise in Riverside, Calif.
Belo Interactive, Inc., Belo's Internet subsidiary, includes the Web site operations of Belo's television stations and newspapers, interactive alliances and partnerships, and a broad range of Internet-based products and services.
The E.W. Scripps Company is a diverse media concern with interests in newspaper publishing, broadcast television, cable television programming and interactive media. Scripps operates 20 daily newspapers, 10 broadcast TV stations and three cable television networks, with plans to launch a fourth.
Scripps cable television network brands include Home & Garden Television, Food Network, Do it Yourself, and Fine Living, due to launch in the second half of 2001.
The company also operates Scripps Howard News Service, United Media, the worldwide licensing and syndication home of PEANUTS and DILBERT, and 31 Web sites, including hgtv.com, foodtv.com, diynet.com and comics.com. SOURCE The E.W. Scripps Company
CONTACT: Tim Stautberg of The E.W. Scripps Company, 513-977-3826, or Email, email@example.com; or Skip Cass, Senior Vice President, or Dunia Shive, Chief Financial Officer of Belo Corp., 214-977-6606/