Simpson Represents J.P. Morgan as Financial Advisor in Belo Sale
Simpson Thacher announced that it represented J.P. Morgan Securities in its role as financial advisor to Gannett Co. in connection with Gannett’s announced acquisition of Belo Corp. for $13.75 per share in cash, or approximately $1.5 billion, plus the assumption of existing debt for an enterprise value of approximately $2.2 billion.
Gannett is an international media and marketing solutions company that informs and engages more than 100 million people every month through its network of broadcast, digital, mobile and publishing properties.
Television company Belo owns and operates 20 television stations (nine in the top 25 markets) and their associated websites.
The Simpson Thacher team includes Eric Swedenburg and Chi Pan (M&A).