Paul Hastings Represents Gannett in Closing $1.5 Billion Merger with Belo and Related Station Restructuring

Paul Hastings LLP, a leading global law firm, announced today that it represented Gannett Co., Inc. (NYSE: GCI), an international media and marketing solutions company, in connection with its acquisition of Belo Corp., a leading broadcast television company with twenty network-affiliated stations, and a related restructuring of Belo broadcast station assets.  The Belo transaction had a total equity value of $1.5 billion.

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Nixon Peabody advises longtime client Gannett in $2.2 billion television deal

Gannett Co., Inc. has completed its acquisition of Belo Corp. for $1.5 billion in cash plus the assumption of $715 million of debt. The combination with Belo nearly doubles Gannett’s broadcast portfolio and creates the largest independent station group of “Big 4” major network affiliates in the top 25 markets, including stations to be serviced by Gannett under shared services and similar arrangements entered into as part of a restructuring.  Gannett now reaches approximately one-third of all television households in America.  The deal also significantly expands the company’s geographic reach and revenue diversity.

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Tags:  Nixon Peabody LLP

The Wall Street Journal Covers Xyratex Deal for $374 Million

The Wall Street Journal and Yahoo! Finance reported on the announcement by data-storage companies Seagate Technology plc and Xyratex Ltd that they have entered into a definitive agreement under which Seagate will acquire all of the outstanding shares of Xyratex for $13.25 per share in cash, or a total of approximately $374 million. Olshan attorneys Steve Wolosky and Michael Neidell represented Baker Street Capital Management, LLC, Xyratex’s largest shareholder owning over 22% of the outstanding shares, in negotiating a voting agreement in favor of the transaction that helped pave the way for the deal.

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