DALLAS--(BUSINESS WIRE)--Oct. 1, 2014--
A. H. Belo Corporation (NYSE: AHC) (A. H. Belo or the Company) announced
that the previously disclosed transaction to sell its units in
Classified Ventures (CV) to Gannett Co. Inc., closed today. A. H. Belo
received pre-tax, cash proceeds, net of selling costs and funds held in
escrow, of $78 million.
A. H. Belo also entered into a new, five-year affiliate agreement with
CV that will allow The Dallas Morning News to continue to resell
Cars.com products and services exclusively in its local market. The
affiliate agreement increases the wholesale rate that A. H. Belo will
pay to CV for selling Cars.com products.
Moelis & Company LLC acted as exclusive financial advisor and Skadden,
Arps, Slate, Meagher & Flom LLP acted as exclusive legal advisor to A.
H. Belo Corporation, its selling partners and CV.
About A. H. Belo Corporation
A. H. Belo Corporation (NYSE: AHC) is a leading local news and
information publishing company with commercial printing, distribution
and direct mail capabilities, as well as businesses with expertise in
emerging media and digital marketing. With a continued focus on
extending our media platform, we are able to deliver news and
information in innovative ways to new audiences with diverse interests
and lifestyles. For additional information, visit ahbelo.com,
Source: A. H. Belo Corporation
A. H. Belo Corporation
Alison K. Engel, 214-977-2248
Vice President/Chief Financial Officer