Faruqi & Faruqi, LLP, Partner Juan E. Monteverde Launches an Investigation of Belo Corp. Over the Proposed Sale of the Company to Gannett Co., Inc.

NEW YORK--(BUSINESS WIRE)--Juan E. Monteverde, a partner at Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Belo Corp. (“Belo” or the “Company”) (NYSE: BLC) for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to Gannett Co., Inc. (NYSE: GCI) in a deal valued at approximately $1.5 billion plus the assumption of $715 million in debt. Under the terms of the proposed transaction, Belo’s stockholders will receive $13.75 in cash for each share of Belo common stock they own.