DALLAS--(BUSINESS WIRE)--Jun. 19, 2013--
A. H. Belo Corporation (NYSE: AHC) announced today that Robert W.
Decherd, its Chief Executive Officer since the Company's spin-off from
Belo Corp. in February 2008, will retire as CEO in September and be
succeeded by James M. (Jim) Moroney III. Moroney is currently executive
vice president of the Company and publisher and CEO of The
Dallas Morning News.
Decherd, 62, will become vice chairman of the Board of Directors and
continue to serve as a member of the Board. Moroney, 56, will maintain
his role as publisher and CEO of The Morning News. Moroney
will be elected to the Board of Directors at its regular meeting in
September.
John P. Puerner, A. H. Belo's Lead Director, said, "This leadership
transition has been a focus for the Board and Robert over the past 12
months and we are very pleased that an executive of Jim's caliber and
experience is going to lead the Company as it continues along the path
to a digital operating platform. Since its spin-off from Belo Corp., A.
H. Belo has made great strides in a very difficult industry environment.
We are confident that under Jim's direction, we can seize upon
opportunities to diversify revenues while maintaining the Company's
journalistic mission."
In addition to serving as A. H. Belo's CEO for the past 5 1/2 years,
Decherd was Chief Executive Officer of Belo Corp. from 1987 until 2008.
He will complete 40 years of employment with the two companies in
September. During Decherd's tenure as CEO of Belo Corp., the company
increased four-fold in size and Belo played a leading role in public
policy matters related to the newspaper and network-affiliated
television businesses. Belo's newspaper and television news operations
received nine Pulitzer Prizes and more DuPont-Columbia and Peabody
awards for journalistic excellence than any owner of local television
stations from 1980 to 2013.
Moroney has been publisher and CEO of The Morning News since
June 2001 and has led the newspaper during a period of journalistic
achievement and dramatic change. The Morning News has won three
Pulitzer Prizes since 2001. Moroney has been active in a wide range of
newspaper industry matters and completed a term as chairman of the
Newspaper Association of America in April. Prior to becoming CEO of The
Morning News, Moroney held numerous roles in Belo's senior
management, including president of its Television Group and president of
Belo Interactive.
Conference Call
A. H. Belo will conduct a conference call on Wednesday, June 19 at 1:00
p.m. CDT to discuss this transition. The conference call will be
available via webcast by accessing the Company's website (www.ahbelo.com/invest)
or by dialing 1-800-288-8961 (USA) or 612-332-0226 (International). A
replay line will be available at 1-800-475-6701 (USA) or 320-365-3844
(International) from 3:30 p.m. CDT on June 19 until 11:59 p.m. CDT on
June 26, 2013. The access code for the replay is 296067.
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.
Statements in this communication concerning A. H. Belo Corporation's
(the “Company's”) business outlook or future economic performance,
anticipated profitability, revenues, expenses, dividends, capital
expenditures, investments, impairments, business initiatives, pension
plan contributions and obligations, real estate sales, future
financings, and other financial and non-financial items that are not
historical facts, are “forward-looking statements” as the term is
defined under applicable federal securities laws. Forward-looking
statements are subject to risks, uncertainties and other factors that
could cause actual results to differ materially from those statements.
Such risks, uncertainties and factors include, but are not limited
to, changes in capital market conditions and prospects, and other
factors such as changes in advertising demand and newsprint prices;
newspaper circulation trends and other circulation matters, including
changes in readership methods, patterns and demography; and audits and
related actions by the Alliance for Audited Media; challenges
implementing increased subscription pricing and new pricing structures;
challenges in achieving expense reduction goals in a timely manner, and
the resulting potential effects on operations; technological changes;
development of Internet commerce; industry cycles; changes in pricing or
other actions by existing and new competitors and suppliers; consumer
acceptance of new products and business initiatives; labor relations;
regulatory, tax and legal changes; adoption of new accounting standards
or changes in existing accounting standards by the Financial Accounting
Standards Board or other accounting standard-setting bodies or
authorities; the effects of Company acquisitions, dispositions, co-owned
ventures, and investments; pension plan matters; general economic
conditions and changes in interest rates; significant armed conflict;
acts of terrorism; and other factors beyond our control, as well as
other risks described in the Company's Annual Report on Form
10-K, and in the Company's other public disclosures and filings with the
Securities and Exchange Commission.
Source: A. H. Belo Corporation
A. H. Belo Corporation
Alison K. Engel, 214-977-2248
Senior
Vice President/Chief Financial Officer
