Belo Spins Off Paper Business

BELO SPINS OFF PAPER BUSINESS
[SOURCE: MediaWeek, AUTHOR: Katy Bachman]
Belo Friday completed the spinoff of its newspaper business into a publicly traded company called A.H. Belo Corp. With the spin, Belo Corp. becomes one of the largest pure-play TV groups in the country with 20 TV stations and revenue of $775 million. The TV group's 20 stations concentrated in seven top 25 markets, reach 14.3 percent of U.S. TV households. Belo also owns or operates six cable news stations, Northwest Cable News, Texas Cable News, Arizona NewsChannel, NewsWatch on Channel 15 in New Orleans, 24/7 NewsChannel in Boise, Idaho and Local News on Cable in the Hampton/Norfolk, Va. market. It also manages an additional station through a local marketing agreement.
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