Articles about "A.H. Belo"


Providence Journal sold for $46 million

WPRI | The Providence Journal

The Providence Journal has been sold to New Media Investment Group Inc. for $46 million, Ted Nesi reported Tuesday.

The deal, which includes the paper’s production facility but not its headquarters, is expected to close “sometime in the third quarter,” The Journal reports.

Longtime owner A.H. Belo Corporation put the paper up for sale in December, after substantial declines in both circulation and advertising, as Nesi reported. The Journal’s average Sunday circulation was 105,810 in September, down 11 percent from the previous year. And advertising revenue fell 66 percent since 2005, dropping to $46 million in 2012. In April 2013, Karen A. Bordeleau took over as executive editor, replacing Thomas E. Heslin, who resigned due to health reasons.

In December, Providence Journal Publisher Howard G. Sutton told employees that the A.H. Belo was exploring a sale of the publication, according to a report from Paul Edward Parker.

A.H. Belo previously said that selling the newspaper “would allow the Company to continue to focus resources and management time and attention on its core Dallas market,”  The company also owns The Dallas Morning News and the Denton Record-Chronicle.

New Media Investment Group, the parent company for GateHouse Media, is “one of the largest publishers of locally based print in online media in the United States,” according to The Journal.

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Classified Ventures’ assets could be worth more than all Tribune’s papers

Crain’s Chicago Business

The sale of Apartments.com and the planned sale of Cars.com “shows how upside-down the media business has become,” Lynne Marek writes about a conversation with the investment banker Chuck DelGrande.

“The joint venture’s assets could be worth more than the value of all eight newspapers owned by Tribune,” Marek writes. “The highest price floated for Tribune’s newspaper group, which Tribune plans to spin off as Tribune Publishing Co. later this year, topped out at about $1 billion when it was on the sales block last year.”

Tribune’s 28 percent stake in Classified Ventures is worth about $700 million, William Launder reported in The Wall Street Journal last year. Apartments.com sold for $585 million earlier this month, and some of that cash went to newspaper companies like McClatchy, Gannett and A.H. Belo, as well as Graham Holdings, which used to own The Washington Post. All have stakes in Classified Ventures.

The consortium is looking for “as much as $3 billion” for Cars.com, The Wall Street Journal reported earlier this month. Read more

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New revenue at Dallas Morning News offsets majority of print-revenue declines

A.H. Belo

At The Dallas Morning News, revenue from new businesses “offset about 60 percent of the core print advertising revenue declines in the fourth quarter and about 70 percent of these declines for the full-year 2013,” A.H. Belo CEO Jim Moroney said in the company’s fourth-quarter and full-year earnings report Wednesday.

Digital revenue at the Morning News was up 9 percent in 2013, “primarily due to the continued growth in marketing services revenue associated with 508 Digital and Speakeasy,” the report says. 508 Digital is an agency set up to sell “digital solutions” to local businesses and Speakeasy is a joint venture with an ad agency intended to “create and manage campaigns for local and national brands.”

The company’s overall digital revenue was up only 7 percent, though, offset by losses at The Providence Journal, the report says. Overall advertising revenue was down 4 percent for the year, circulation revenue was up 2 percent and printing revenue was up 6 percent.

A.H. Belo sold The (Riverside, Calif.) Press-Enterprise to the owners of the Orange County Register in 2013, and the company is debt-free, the report says. The company “continues to explore” a sale of the Providence paper, the report says. Read more

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Providence Journal may be sold

The Providence Journal | A.H. Belo | WPRI

Providence Journal Publisher Howard G. Sutton told employees Wednesday morning that the paper’s owner, A.H. Belo, is exploring a sale of the publication, Paul Edward Parker reports.

Selling the newspaper “would allow the Company to continue to focus resources and management time and attention on its core Dallas market,” an A.H. Belo press release says. The company also owns The Dallas Morning News and the Denton Record-Chronicle. It recently sold The (Riverside, Calif.) Press-Enterprise to Aaron Kushner.

The Journal’s average Sunday circulation was 105,810 in September, down 11 percent from the previous year. Its average weekday circulation was 106,605, down about 7 percent from September 2012. The paper’s “advertising revenue has plunged 66% since 2005, falling to $46 million last year,” WPRI’s Ted Nesi reports. The paper offered buyouts in September, and 12 people took them. In April, the Journal named Karen A. Bordeleau its executive editor.

“Company officials cautioned that it wouldn’t sell The Journal if it could not find an appropriate buyer or could not come to acceptable terms with a would-be buyer,” Parker writes. Read more

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Dallas Morning News will print Star-Telegram, which plans layoffs

Dallas Morning News | Fort Worth Star-Telegram | Los Angeles Times

The Dallas Morning News will start printing the Fort Worth Star-Telegram next year, Gary Jacobson reports. Two hundred and seventy-five people will lose their jobs, 75 of them full-time positions, because of the move. “This makes all the sense in the world,” said Morning News Publisher and A.H. Belo CEO Jim Moroney, according to Jacobson.

The Star-Telegram plans to sell its printing facility. Its publisher, Gary Wortel, tells his paper that “one added convenience for Sunday subscribers is that they will begin receiving their advertising circulars in a sealed plastic bag.” Read more

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Ad revenue down in 2nd quarter at AH Belo, Dallas Morning News

A.H. Belo Corp.
A.H. Belo says in its second-quarter earnings report that it will increase its investment in 508 Digital, “a new division at The Dallas Morning News that provides digital marketing solutions for underserved small and medium-sized businesses,” from $3 million to $4 million this year. It expects to make $1.5 million from 508 Digital.

On the other hand, the company has scaled back a $4 million  advertising and marketing campaign for the newspaper. It now plans to spend $2 million to $2.5 million on that this year.

Like other companies, A.H. Belo’s print advertising is down more than its digital revenue is up. Overall revenue didn’t decline as much as it did in the first quarter, however. Second-quarter earnings were $262,000, a margin of 0.25 percent. Read more

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A.H. Belo executives get big raises

WPRI
A.H. Belo CEO and chairman Robert Decherd will get a 25 percent raise, to $600,000; Jim Moroney, executive vice president of A.H. Belo and publisher of the Dallas Morning News, will get a 15.5 percent raise, boosting his base pay to $540,000. The pay hikes, Ted Nesi reports, come “despite a 45% decline in [A.H. Belo's] stock price during 2011, the fourth straight year it lost money.” The company says its top executives have more work now after others left and weren’t replaced. John Hill, president of the Providence Newspaper Guild union, said it’s “galling and insulting” to offer raises less than a year after buying out and laying off employees at The Providence Journal. The Morning News laid off some of its staff in September. || Related: New York Times Co. hires Spencer Stuart to look for new CEO (Bloomberg) | Gannett says separating CEO and chairman roles is better for shareholders (Gannett Blog) || Earlier: Craig Dubow gets $32 million severance package from Gannett (Associated Press) | Janet Robinson’s exit package from New York Times exceeds $21 million (Bloomberg) Read more

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Top 5 execs at Dallas Morning News parent got $1.6M in bonuses last year

WPRI.com
A.H. Belo CEO Robert Decherd’s total compensation more than tripled to $1.87 million in 2010, up from $499,180 in 2009, according to WPRI.com calculations based on Monday’s SEC filing. Dallas Morning News publisher James Moroney was paid $1.3 million in 2010, up from $478,090 in 2009. Read more

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A.H. Belo swings to 4Q loss on a $132.3M pension withdrawal charge

Providence Business News
The publisher of the Dallas Morning News, Providence Journal and other papers reported a 6 percent drop in advertising revenue in the fourth quarter. Display advertising revenue was down 11 percent, classified revenue fell 8.8 percent, and digital revenue dropped 0.9 percent. || Read the release. Read more

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