Belo Completes Spinoff
Shares in New A.H. Belo to Begin Regular Trading on New York Stock Exchange Feb. 11
By Michael Malone -- Broadcasting & Cable, 2/8/2008 12:14:00 PM
Belo completed the spinoff of its newspaper businesses and related assets into the publicly traded A.H. Belo Corp.
Shares in the new A.H. Belo will begin regular trading on the New York Stock Exchange Feb. 11.
Robert W. Decherd is assuming the chairman, president and CEO role of A.H. Belo, and will also serve as nonexecutive chairman of Belo, which holds the company’s TV stations.
"Completing the spinoff marks the beginning of an exciting new period in Belo Corp.'s history as it becomes one of the largest pure-play television companies in the country," president and CEO Dunia A. Shive said. "As a stand-alone television company with a strong management team and a best-in-class collection of television assets, Belo is ideally positioned to capitalize on growth opportunities."
Belo has annual revenues of approximately $775 million. It owns and operates 20 television stations.
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