From Poynter

Gannett Co. and Belo Corp. announced Monday that they have reached an agreement with the Department of Justice that should clear the way for Gannett to purchase Belo as announced in June.

The $1.5 billion sale and assumption of $715 million in Belo debt would expand Gannett’s TV holdings from 23 to 43 stations, the media companies said last summer.

The proposed agreement emerged at the same time as the filing of a civil antitrust lawsuit Monday in the District of Columbia’s U.S. District Court to block Gannett’s acquisition of Belo. The agreement — which would resolve the concerns alleged in the lawsuit — would require Gannett and third-party operator Sander Media LLC to divest themselves of Belo-owned KMOV-TV. Gannett already owns KSDK-TV in the St. Louis market.

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