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Belo Corporation

Coordinates: 32°46′35″N 96°48′20″W / 32.77639°N 96.80556°W / 32.77639; -96.80556
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(Redirected from Corinthian Broadcasting)

Belo Corporation
Company typePublic
NYSE: BLC
IndustryBroadcasting, Television, Interactive media
Founded1926; 98 years ago (1926)
DefunctDecember 23, 2013; 10 years ago (2013-12-23)
Fate
Successor
  • Gannett
  • Tegna Inc.
  • DallasNews Corporation
Headquarters
Dallas, Texas
,
United States
Key people
  • Dunia Shive
  • (President and CEO)
RevenueIncreaseUS$687 million (FY 2010)
IncreaseUS$216 million (FY 2010)
IncreaseUS$86.9 million (FY 2010)
Total assetsIncreaseUS$1.59 billion (FY 2010)
Total equityIncreaseUS$171 million (FY 2010)
Number of employees
6,600
Footnotes / references
[1][2]

Belo Corporation (/ˈbiːloʊ/; formerly A. H. Belo Corporation) was a Dallas, Texas-based media company that owned 20 commercial broadcasting television stations and three regional 24-hour cable news television channels. Until 2008, the company also owned seven newspapers, which were ultimately spun off into a separate company now known as DallasNews Corporation. The company was named after former owner Alfred Horatio Belo. Belo had its headquarters in the Belo Building in Downtown Dallas, designed by Dallas architects Omniplan and constructed between 1983 and 1985.[3]

32°46′35″N 96°48′20″W / 32.77639°N 96.80556°W / 32.77639; -96.80556

History

[edit]
The Belo Tower (now called 400 Record) in downtown Dallas.

The company traces its roots back to the establishment of The Daily News in Galveston, Texas, in 1842, four years before the Republic of Texas was annexed by the United States; the company sold The Daily News in 1923. In 1857, the company began publishing the Texas Almanac, a reference book focused on Texas, and on October 1, 1885, launched a second newspaper, The Dallas Morning News, based in Dallas, Texas.

On June 26, 1922, the company expanded into broadcasting with the sign-on of WFAA-AM (at that time, shared time with WBAP and WRR in Dallas, Texas).[4]

In July 1926, A.H. Belo Corporation was founded when George Bannerman Dealey acquired a majority interest in the company.[4]

On January 30, 1950, the company announced the purchase of DuMont-affiliated Dallas television station KBTV (renamed WFAA after the acquisition) for $575,000. This purchase, approved by the Federal Communications Commission (FCC) on March 13, 1950, and completed on March 17, marked the company's entry into television broadcasting. The station switched its primary affiliation to NBC after the acquisition and was also affiliated with ABC on a secondary basis.[5]

In 1963, the company acquired News-Texan Inc., a publishing company that owned suburban newspapers in the Dallas–Fort Worth metroplex; this subsidiary was later renamed Dallas–Fort Worth Suburban Newspapers Inc.[4]

The company acquired its second television station in 1969 when it purchased KFDM-TV in Beaumont from Beaumont Broadcasting,[6] followed in 1980 by its purchase of WTVC in Chattanooga, Tennessee. Among its purchases in later years, Belo acquired the Corinthian Broadcasting subsidiary of Dun & Bradstreet in December 1983, adding six additional stations, including CBS affiliates KHOU in Houston and KOTV in Tulsa, Oklahoma and ABC affiliate WVEC-TV in Norfolk, Virginia to its portfolio. This forced the sales of KFDM and WTVC to Freedom Communications, and of WISH-TV in Indianapolis and WANE-TV in Fort Wayne, Indiana to LIN Broadcasting, to comply with FCC ownership limits.[4][7][8][9][10]

On December 8, 1991, A.H. Belo acquired the Dallas Times-Herald for $55 million; the paper ceased operations the next day.[11]

On September 26, 1996, A.H. Belo announced that it would acquire the Providence Journal Company (publishers of The Providence Journal in Providence, Rhode Island) for $1.5 billion. This purchase brought Belo the Providence company's ten television stations including KING-TV in Seattle.[12][13]

On October 1, 2007, Belo announced the separation of its newspaper and television businesses by spinning off its newspaper business to shareholders as A. H. Belo Corporation, officially completed in February 2008. The television business retained the Belo Corporation name (without the "A. H." initials).[14] The spin-off was structured so that the broadcasting company was the legal successor to the prior company.[15]

In September 2010, Belo became the first non-ABC group to sign on with the Live Well Network, adding it to five of their stations (WFAA, KMOV, WCNC-TV, WVEC, & WWL-TV) on November 8, 2010.[16]

On June 13, 2013, Gannett Company announced plans to buy Belo for $1.5 billion and the assumption of debt.[17] Because of ownership conflicts in markets where both Belo and Gannett owned television stations and newspapers, Gannett planned to sell six Belo-owned stations—KMOV in St. Louis, WHAS-TV in Louisville, KMSB in Tucson, KGW in Portland, Oregon, and KTVK and KASW in Phoenix—to Sander Media, LLC, owned by former Belo executive Jack Sander. Gannett would have provided some services to the Sander stations under joint services agreements. Due to concerns about any possible future consolidation of operations of Gannett- and Belo-owned properties in markets where both owned television stations or collusion involving the Gannett and Sander stations in retransmission consent negotiations, anti-media-consolidation groups (such as Free Press) and pay television providers (such as Time Warner Cable and DirecTV) called for the FCC to block the acquisition.[18][19]

The concerns were especially pronounced in St. Louis, since the merged company would have controlled two of the three news departments run by "Big Four" stations in that city—KMOV, which was to have been sold to Sander, and Gannett-owned KSDK. On December 16, 2013, the United States Department of Justice threatened to block the deal unless Gannett, Belo and Sander completely divested KMOV to a government-approved third-party company that would be barred from entering into any agreements with Gannett, in order to fully preserve competition in advertising sales with KSDK. Justice claimed that Gannett and Sander would be so closely aligned that Gannett would have dominated spot advertising in St. Louis.[20] On December 20, the deal was approved by the FCC.[21] With the completion of the deal on December 23,[22] on the same day Gannett and Sander agreed to sell KMOV, KTVK, and control of KASW for $407.5 million to Meredith Corporation (which owns KPHO-TV in the Phoenix market); Sander served as caretaker owner of those stations during the sale process, and SagamoreHill Broadcasting would take on KASW's license.[23] Meredith's purchase of KMOV was completed on February 28, 2014,[24] and its purchase of KTVK, along with SagamoreHill's purchase of KASW, were completed on June 19. SagamoreHill was then forced to divest KASW to Nexstar Broadcasting Group (now Nexstar Media Group) on January 30, 2015.

On June 29, 2015, Gannett split into two companies, one specializing in print media and named "Gannett," and the other specializing in broadcast and digital media. The latter company, Tegna, retained most of the Belo stations and is the legal successor to the company that previously bore Gannett's name.[25]

Former stations

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Television

[edit]

Stations are arranged in alphabetical order by state and city of license.

  • (**) - Indicates a station built and signed on by Belo.
City of license / Market Station Channel Years owned Current status
Phoenix, AZ KTVK 3 1999–2013 Independent station owned by Gray Television
KASW 61 2000–2013 Independent station owned by the E. W. Scripps Company
Tucson, AZ KMSB-TV 11 1997–2013[a] Fox affiliate owned by Tegna Inc.[b]
KTTU 18 2002–2013 The CW affiliate owned by Tegna Inc.[c]
Sacramento–Stockton–Modesto, CA KXTV 10 1984–1999[d] ABC affiliate owned by Tegna Inc.
Honolulu, HI KHNL 13 1997–1999[a] NBC affiliate owned by Gray Television
Boise, ID KTVB 7 1997–2013[a] NBC affiliate owned by Tegna Inc.
Twin Falls, ID KTFT-LD[A] 7 1997–2013[a] NBC affiliate owned by Tegna Inc.
Fort Wayne, IN WANE-TV 15 1984[d] CBS affiliate owned by Nexstar Media Group
Indianapolis, IN WISH-TV 8 1984[d] The CW affiliate owned by Circle City Broadcasting
Louisville, KY WHAS-TV 11 1997–2013[a] ABC affiliate owned by Tegna Inc.
New Orleans, LA WWL-TV 4 1994–2013 CBS affiliate owned by Tegna Inc.
WUPL 54 2007–2013 MyNetworkTV affiliate owned by Tegna Inc.
St. Louis, MO KMOV 4 1997–2013 CBS affiliate owned by Gray Television
Santa Fe–Albuquerque, NM KASA-TV 2 1997–1999[a] Telemundo owned-and-operated (O&O)
Charlotte, NC WCNC-TV 36 1997–2013[a] NBC affiliate owned by Tegna Inc.
Tulsa, OK KOTV 6 1984–2000[d] CBS affiliate owned by Griffin Communications
Portland, OR KGW-TV 8 1997–2013[a] NBC affiliate owned by Tegna Inc.
Chattanooga, TN WTVC 9 1980–1984 ABC affiliate owned by Sinclair Broadcast Group
Austin, TX KVUE 24 1999–2013 ABC affiliate owned by Tegna Inc.
Beaumont–Port Arthur, TX KFDM-TV 6 1969–1984 CBS affiliate owned by Sinclair Broadcast Group
Dallas–Fort Worth, TX WFAA-TV ** 8 1950–2013 ABC affiliate owned by Tegna Inc.
KFWD 52 2006–2012[e] ShopHQ affiliate owned by WRNN-TV Associates
Houston, TX KHOU-TV 11 1984–2013[d] CBS affiliate owned by Tegna Inc.
San Antonio, TX KENS-TV 5 1997–2013 CBS affiliate owned by Tegna Inc.
KCWX 2 2000–2010[f] MyNetworkTV affiliate owned by Corridor Television
Hampton–Norfolk–Portsmouth, VA WVEC-TV 13 1984–2013[d] ABC affiliate owned by Tegna Inc.
Seattle–Tacoma, WA KING-TV 5 1997–2013[a] NBC affiliate owned by Tegna Inc.
KIRO-TV 7 1995–1997 CBS affiliate owned by Cox Media Group
KONG 16 2000–2013 Independent station owned by Tegna Inc.
Spokane, WA KREM-TV 2 1997–2013[a] CBS affiliate owned by Tegna Inc.
KSKN 22 2001–2013 The CW affiliate owned by Tegna Inc.
  1. ^ Satellite of KTVB.
  1. ^ a b c d e f g h i j Acquired from The Providence Journal Company.
  2. ^ Operated through a SSA by Gray Television.
  3. ^ Operated through a SSA by Gray Television.
  4. ^ a b c d e f Acquired from Dun & Bradstreet subsidiary Corinthian Broadcasting.
  5. ^ Managed by Belo Corporation, previously under ownership of HIC Broadcast, Inc.
  6. ^ Managed by Belo Corporation, previously under ownership of Corridor Television

Cable networks

[edit]

References

[edit]
  1. ^ Belo (BLC) annual SEC income statement filing via Wikinvest.
  2. ^ Belo (BLC) annual SEC balance sheet filing via Wikinvest.
  3. ^ "Contact Us Archived 2010-03-09 at the Wayback Machine." Belo. Retrieved on November 21, 2009. See also Judith Garrett Segura, Belo: From Newspapers to New Media. Austin: University of Texas Press, 2008.
  4. ^ a b c d "A.H. Belo Corporation". Handbook of Texas. Texas State Historical Association. Retrieved February 9, 2021.
  5. ^ "KBTV [TV] sale" (PDF). Broadcasting-Telecasting. January 30, 1950. Retrieved February 9, 2021 – via World Radio History.
  6. ^ "$20 million in TV sales approved" (PDF). Broadcasting. May 12, 1969. p. 48. Retrieved February 9, 2021 – via World Radio History.
  7. ^ "Belo's record buy" (PDF). Broadcasting. Broadcasting Publications, Inc. June 27, 1983. p. 78. Retrieved February 9, 2021 – via World Radio History.
    "Changing Hands" (PDF). Broadcasting. Broadcasting Publications, Inc. June 27, 1983. p. 88. Retrieved February 11, 2021 – via World Radio History.
  8. ^ "In Brief" (PDF). Broadcasting. Broadcasting Publications, Inc. October 17, 1983. p. 96. Retrieved February 11, 2021 – via World Radio History.
  9. ^ "In Brief" (PDF). Broadcasting. Broadcasting Publications, Inc. December 5, 1983. p. 96. Retrieved February 11, 2021 – via World Radio History.
  10. ^ "Changing Hands (inset story: Consummated)" (PDF). Broadcasting. Broadcasting Publications, Inc. February 6, 1984. p. 163. Retrieved February 11, 2021 – via World Radio History.
  11. ^ Silverstein, Stuart (December 8, 1991). "Dallas Times Herald to Cease Publication Today : Newspapers: Most of its assets will be sold to the parent of its longtime arch-rival, the Dallas Morning News, for $55 million". Los Angeles Times. Retrieved February 11, 2021.
  12. ^ "Providence Journal Co. to Merge With A.H. Belo in $1.5 Billion Deal". Associated Press. September 27, 1996. Retrieved February 11, 2021.
  13. ^ "Belo in $1.5 Billion Deal For Providence Journal Co". The New York Times. September 27, 1996. Retrieved February 11, 2021.
  14. ^ "Belo to Create Separate Television and Newspaper Businesses". Belo Corp. October 1, 2007. Archived from the original on October 9, 2007.
  15. ^ "Belo Corp. | Press Releases". Archived from the original on February 14, 2008. Retrieved February 10, 2008.
  16. ^ Malone, Michael (September 29, 2010). "Adds ABC's Live Well Network". Broadcasting & Cable. NewBay Media. Retrieved December 3, 2014.
  17. ^ "Gannett to buy Belo for $1.5 billion". Reuters. June 13, 2013. Archived from the original on September 24, 2015. Retrieved June 30, 2017.
  18. ^ Free Press, Others Ask FCC To Deny Some Gannett/Belo Transfers, Broadcasting & Cable, July 24, 2013.
  19. ^ Public Interest Groups, Cable Companies Oppose Gannett-Belo Merger, AdWeek, July 25, 2013.
  20. ^ Eggerton, John (December 16, 2013). "Justice: Sander Can't Keep KMOV". Broadcasting & Cable. Retrieved December 16, 2013.
  21. ^ "FCC OKs Gannett-Belo And Tribune-Local". TVNewsCheck. Retrieved December 20, 2013.
  22. ^ Gannett Completes Its Acquisition of Belo, TVNewsCheck, Retrieved December 23, 2013
  23. ^ "Meredith Buying Three Stations From Gannett". TVNewsCheck. Retrieved December 23, 2013.
  24. ^ Brown, Lisa (February 28, 2014). "Meredith Corp. closes on $177 million purchase of KMOV". St. Louis Post-Dispatch. Retrieved February 28, 2014.
  25. ^ Yu, Roger. "TEGNA, Gannett go separate ways as print spin off is completed". USA TODAY. Retrieved June 9, 2021.

Further reading

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