Belo investors to vote against Gannett buyout

Investors of TV station-owner Belo Corp. are expected to vote against Gannett Co.'s terms under a proposed $1.5 billion takeover.

Gannett, a media holding company with local ownership of the Springfield News-Leader, is said by investors to have gotten the better end of the deal, when in mid-June, its stock shot up upon announcement of the deal, according to the Wall Street Journal.

Investors also have said Belo would have pulled in a higher bid had it advertised the sale more.

Read more at the Wall Street Journal.