Two St. Louis television stations are about to get a little cozier, as their parent companies become one. Virginia-based Gannett Company, which owns KSDK (Channel 5) is buying Dallas-based Belo Corporation, which owns KMOV (Channel 4).
If Belo shareholders and the Federal Communications Commission sign off on the $1.5 billion deal, Gannett will grow from 23 stations nationwide, to 43.
Because of the FCC's media ownership limits, KMOV and four other Belo Stations will operate under the independent ownership of Jack Sanders. The Phoenix man is a former Belo executive.
Gannet officials say the news and sales operations at KMOV will stay independent from those at KSDK.