Belo's Secondary Offering of 5 Million Shares Priced at $36.25.DALLAS--(BUSINESS WIRE)--May 1, 1996--A. H. Belo Corporation announced today that its secondary offering of 5 million shares of Series A Common Stock was priced at $36.25. An underwriting group led by Goldman, Sachs & Co. and Smith Barney Inc. are co-managing the offering, scheduled for settlement May 7. The estimated net proceeds of $172.6 million will be used to repay outstanding bank debt under the Company's revolving credit agreement Revolving credit agreement A legal commitment in which a bank promises to lend a customer up to a specified maximum amount during a specified period. revolving credit agreement See line of credit. to provide liquidity for general corporate purposes, including possible future acquisitions. Belo owns and operates network-affiliated television stations WFAA-TV (ABC ABC in full American Broadcasting Co. Major U.S. television network. It began when the expanding national radio network NBC split into the separate Red and Blue networks in 1928. ) in Dallas-Fort Worth; KHOU-TV (CBS (Cell Broadcast Service) See cell broadcast. ) in Houston; KIRO-TV (UPN UPN User Principal Name (Microsoft Windows 2000) UPN United Paramount Network UPN Unión del Pueblo Navarro (Navarrese People Union) UPN Umgekehrte Polnische Notation ) in Seattle-Tacoma, Washington; KXTV (ABC) in Sacramento, California; WVEC-TV (ABC) in Hampton-Norfolk, Virginia; WWL-TV (CBS) in New Orleans, Louisiana; and KOTV (CBS) in Tulsa, Oklahoma; and owns Belo Productions, Inc. (BPI). Belo also owns The Dallas Morning News; the Owensboro (Ky.) Messenger-Inquirer; the Bryan-College Station (Tx.) Eagle; the Arlington (Tx.) Morning News; and eight community newspapers in the suburban Dallas-Fort Worth area. Shares of Belo Series A Common Stock are traded on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. under the symbol BLC. CONTACT: A. H. Belo Corp. Michael Perry, 214/977-6622 Harold Gaar, 214/977-7650 |
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