A. H. Belo Announces Close of Classified Ventures Sale; Remains Cars.com Reseller
01 October 2014 - 11:45PM
Business Wire
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, email invest@ahbelo.com.
A. H. Belo CorporationAlison K. Engel, 214-977-2248Senior Vice
President/Chief Financial Officerwww.ahbelo.com
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