Belo acquires minority interest in the Press-Enterprise, Riverside, California.DALLAS--(BUSINESS WIRE)--June 27, 1996--A. H. Belo Corporation announced today that it has agreed to purchase a minority interest in the company that owns The Press-Enterprise, a daily newspaper serving Riverside County, California Riverside County is a county located in the southeastern part of the U.S. state of California, stretching from Orange County to the Colorado River, which is the border with Arizona. . Subject to required government approvals, the 21.47 percent interest will be purchased for cash from Dow Jones & Company. Terms of the transaction were not disclosed. The Press-Enterprise has average circulation of 169,231 daily and 175,367 Sunday, according to the March 31, 1996, six-months publisher's statement filed with the Audit Bureau of Circulations The Audit Bureau of Circulations is one of the several organizations of the same name operating in different parts of the world. It audits circulation, readership, and audience information for the magazines, newspapers, and other publications produced by . Its primary circulation area is Riverside County, expected to be among the fastest- growing counties in California The U.S. state of California is divided into fifty-eight counties. Counties are responsible for all elections, property-tax collection, maintenance of public records such as deeds, and local-level courts within their borders, as well as providing law enforcement (through the county during the next decade. Controlling interest in the Press-Enterprise Company is held by the families of Howard H (Tim) Hays and his brothers, Dr. Daniel Hays of Riverside, and William H. Hays of Denver, Colorado. Howard H. Hays, chairman of Press-Enterprise Company, said, "Our Dow Jones associates have been most supportive and helpful, lastly and most significantly in the selection of their successors. There aren't many news organizations of Belo's quality and we are fortunate they're joining us." Burl Osborne, president of Belo's Publishing Division, said, "We have long admired Tim Hays and the Hays family for the values of journalistic excellence and community service that are reflected in their newspaper, and we are delighted to be more closely associated with them." James H. Ottaway, Jr., senior vice president of Dow Jones & Company, said, "We are very pleased that the Hays family, which has always maintained high standards of journalism and community and employee relations, will have a new partner like A. H. Belo Corporation, which lives by similarly high standards." Belo 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. Belo also 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, Texas; 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.) 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 BLC Boston Library Consortium BLC Bethany Lutheran College (Minnesota) BLC Back Light Compensation (video cameras) BLC Belo Corporation (stock symbol) BLC Broadband Loop Carrier . CONTACT: A. H. Belo Corporation, Dallas Michael D. Perry, 214/977-6622 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion