A. H. Belo Receives Proceeds from Sale of Apartments.com by Classified Ventures
02 April 2014 - 9:30AM
Business Wire
A. H. Belo Corporation (NYSE: AHC) announced today it received a
gross cash distribution of approximately $18.9 million
following the close of the sale of Apartments.com by
Classified Ventures. A. H. Belo owns a 3.3 percent interest in
Classified Ventures.
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 three 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;
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 FindnSave.com. 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, revenue, expense,
dividends, capital expenditures, investments, dispositions,
impairments, business initiatives, acquisitions, pension plan
contributions and obligations, real estate sales, working capital,
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; challenges in consummating asset acquisitions or
dispositions upon acceptable terms; 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.
A. H. Belo CorporationAlison K. Engel, 214-977-2248Senior Vice
President/Chief Financial Officer
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