DALLAS--(BUSINESS WIRE)--Nov. 18, 2013--
A. H. Belo Corporation (NYSE: AHC) announced today that the sale of
substantially all of the assets comprising the newspaper operations of The
Press-Enterprise to Freedom Communications Holdings, Inc.
(Freedom) has not yet closed as of the time of this announcement. A. H.
Belo and the Press-Enterprise Company are pursuing multiple options to
promptly consummate the disposition. The options include (1) closing
with Freedom pursuant to the terms of the Asset Purchase Agreement dated
October 9, 2013, as amended on October 31, 2013 (APA), (2) pursuing
legal action against Freedom to enforce the terms of the APA and (3)
exploring an alternative transaction with other interested parties.
Jim Moroney, Chairman, President and Chief Executive Officer, said “I
want to sincerely thank all of the employees of The Press-Enterprise
for their unwavering support and dedication during this process. We know
we can count on this outstanding team as we continue to work toward
realizing the full value of The Press-Enterprise.”
About A. H. Belo Corporation
A. H. Belo Corporation (NYSE: AHC), headquartered in Dallas, Texas, is a
distinguished newspaper publishing and local news and information
company that owns and operates four daily newspapers and related
websites. A. H. Belo publishes The Dallas Morning News,
Texas’ leading newspaper and winner of nine Pulitzer Prizes; The
Providence Journal, the oldest continuously-published daily
newspaper in the United States and winner of four Pulitzer Prizes; The Press-Enterprise
(Riverside, CA), serving the Inland Southern California region and
winner of one Pulitzer Prize; and the Denton Record-Chronicle.
The Company publishes various niche publications targeting specific
audiences, and its investments include Classified Ventures, owner of
Cars.com, and Wanderful Media, owner of Find&Save. A. H. Belo offers
digital marketing solutions through 508 Digital and Speakeasy and
also owns and operates commercial printing, distribution and direct mail
service businesses. Additional information is available at www.ahbelo.com or
by contacting Alison K. Engel, Senior Vice President/Chief Financial
Officer, at 214-977-2248.
Source: A. H. Belo Corporation
A. H. Belo Corporation
Alison K. Engel, 214-977-2248
Vice President/Chief Financial Officer