Belo Corp. Spins Off Newspapers

Oct 1, 2007  •  Post A Comment

The Belo Corp. is spinning off its newspaper businesses into a publicly traded company to be called A.H. Belo Corp. The move will allow both companies more focus and flexibility and to seek synergies from virtual cross-ownerships in the absence of relaxed cross-ownership rules.
The split, which will be accomplished by a tax-free distribution of new A.H. Belo shares to Belo Corp. shareholders, is expected to be effective in the first quarter of 2008. A.H. Belo will start debt-free, Monday’s announcement said.
At that point, Belo Corp. will rank as the largest pure-play publicly traded TV station company in the country.
Dunia Shive, currently chief operating officer of the Belo Corp., will become Belo Corp. president and CEO, overseeing some 3,200 employees. Belo Corp. generates revenues of more than $750 million from 20 owned-and-operated stations, two regional cable news channels it owns and two cable news channels it operates.
Robert W. Decherd, currently chairman and CEO of Belo Corp., will become chairman, president and CEO of A.H. Belo and non-executive chairman of Belo Corp.
A.H. Belo’s holdings will include the company’s flagship newspaper, the Dallas Morning News, as well as the Providence Journal and the Riverside, Calif., Press-Enterprise, serving Southern California’s Inland Empire region, and the Web sites associated with these properties. Also included are certain niche products and direct-mail and commercial printing businesses. The combined reach of the properties is 3.7 million people.
(Editor: Horowitz)


  1. I mean, I could see all this fuss over the guy if he’d led Jersey to the Finals

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