Belo Completes Spinoff
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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Michael Malone, senior content producer at B+C/Multichannel News, covers network programming, including entertainment, news and sports on broadcast, cable and streaming; and local broadcast television. He hosts the podcasts Busted Pilot, about what’s new in television, and Series Business, a chat with the creator of a new program, and writes the column “The Watchman.” He joined B+C in 2005. His journalism has also appeared in The New York Times, The Philadelphia Inquirer, Playboy and New York magazine.