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Two schools to close in Cahokia, IL

Thursday, 13 June 2013 11:10 Published in Local News

Administrators of the school district in Cahokia, Illinois plan to close two schools in an effort to spare education programs and teaching jobs.

The board is looking to close an early childhood center and the freshman academy. The freshmen will be merged in with students at the regular high school.

 

GODFREY, Ill. (AP) - A southwestern Illinois prosecutor says a boy bitten by a pet monkey during a dog event will undergo precautionary rabies vaccinations rather than having the primate euthanized to see if it's infected with the disease.

Madison County State's Attorney Tom Gibbons tells The (Alton) Telegraph that the decision involving the 6-year-old boy came after the prosecutor's office consulted with the child's parents.

The monkey named Nina has been in quarantine since it bit the boy June 2 when the child tried to pet the java macaque during a yearly "Bark in the Park" event in Godfrey. 

No charges have been filed, and Gibbons' office is trying to determine who legally owns the monkey.

Dr. David Hall with Madison County's animal-control office says his agency was seeking advice from the Illinois Department of Agriculture.

   

Gannett merges with Belo in $2.2 billion media deal

Thursday, 13 June 2013 07:39 Published in Local News

Gannett Co., the owner of USA TODAY and other newspaper and television properties, including KSDK-TV, across the USA and United Kingdom, announced Thursday that it is entering into a definitive merger agreement with Belo Corp., catapulting Gannett into the nation's fourth-largest owner of major network affiliates reaching nearly a third of U.S. households.

Belo owns and operates 20 TV stations -nine in the top 25 markets - and their associated websites.

The acquisition nearly doubles Gannett's current broadcast portfolio from 23 to 43 stations, including stations to be serviced by Gannett through shared services or similar sharing arrangements.

Gannett will acquire all outstanding shares of Belo for $13.75 per share in cash, or approximately $1.5 billion, plus assume $715 million in existing debt for an enterprise value of approximately $2.2 billion. The transaction, which has been unanimously approved by the boards of directors of both companies, represents a 28.1% premium to the closing price of Belo common stock on June 12, 2013.

President and Chief Executive Officer Gracia Martore of Gannett, said, "We are thrilled to bring together two highly respected media companies with rich histories of award-winning journalism, operational excellence and strong brand leadership."

Belo's President and Chief Executive Officer Dunia Shive said, "This is an outstanding and financially compelling transaction for our shareholders. It is also a testament to the tremendous value our employees have created over Belo's long history and to the strength of our brand in the media industry."

Headquartered in McLean, Virginia, Gannett engages more than 100 million people every month through its network of broadcast, digital, mobile and publishing properties. In addition to USA TODAY, Gannett owns regional newspapers such as the Detroit Free Press and The Courier-Journal in Louisville, Ky.

Shares (GCI) in Gannett closed down 1.59% on Wednesday but have soared to $19.85 from $12.50 in July as the company has aggressively pursued efforts to diversity its business model.

Gannett earned $104.6 million, or 44 cents per share, in the January-March period. That was up from $68.2 million, or 28 cents per share, a year earlier. Revenue grew 1.6% to $1.24 billion from $1.22 billion.

 

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