The Press-Enterprise Company Launches Multimedia Strategy With Restructuring of Operations
May 17 2006 - 5:00PM
PR Newswire (US)
RIVERSIDE, Calif., May 17 /PRNewswire-FirstCall/ -- The
Press-Enterprise Company, a Riverside, CA-based subsidiary of Belo
Corp. (NYSE:BLC), announced the implementation of an enhanced
multimedia business plan and accompanying organizational
restructuring aimed at better serving and reaching its readers,
online users and advertisers in the Inland Southern California. The
restructuring plan will be phased in over the next two months and
includes an increased emphasis on the dissemination of breaking
news and information via The Press-Enterprise's Web site, PE.com,
including streaming video; the launch of more than 40 micro-local
community Web pages; a greater focus on online advertising sales;
the expansion of targeted sales opportunities in advertising and
circulation through database marketing; an increased focus on
developing print and online products to serve distinct interests
throughout the region; and the enhancement of production processes
to provide earlier delivery for the region's many commuters.
Implementation of The Press-Enterprise's multimedia strategy will
result in a net reduction of approximately 50 positions by mid-year
2006. More than 80 positions will be eliminated or consolidated,
while approximately 30 new positions will be created. The Company
noted that a severance plan is being offered to employees affected
by the strategy to help them transition to other employment. About
the Press-Enterprise Company The Press-Enterprise Company, a
Riverside, CA-based subsidiary of Belo Corp., publishes The
Press-Enterprise, a 185,000-circulation daily newspaper, the
largest daily newspaper serving Inland Southern California; The
Business Press, a weekly business journal; La Prensa and El D,
weekly Spanish-language newspapers serving the region's diverse
Hispanic community; and the advertising publications Inland Empire
HomeSeller, Inland Empire AutoSeller, Inland Empire Employment and
Savings Express. Belo Corp. is one of the nation's largest media
companies with a diversified group of market-leading television,
newspaper, cable and interactive media assets. A Fortune 1000
company with 7,700 employees and more than $1.5 billion in annual
revenues, Belo operates in some of America's most dynamic markets
in Texas, the Northwest, the Southwest, the Mid-Atlantic and Rhode
Island. Belo owns 19 television stations, six of which are in the
15 largest U.S. broadcast markets. The Company also owns or
operates seven cable news channels and manages one television
station through a local marketing agreement. Belo's other daily
newspapers are The Dallas Morning News, The Providence Journal and
the Denton Record-Chronicle (Denton, TX). The Company also
publishes specialty publications targeting young adults and the
fast-growing Hispanic market, including Quick and Al Dia in
Dallas/Fort Worth. Belo operates more than 30 Web sites associated
with its operating companies. Additional information is available
at http://www.belo.com/ or by contacting Carey Hendrickson, vice
president/Investor Relations & Corporate Communications, at
214-977-6626. Statements in this communication concerning Belo's
business outlook or future economic performance, anticipated
profitability, revenues, expenses, dividends, capital expenditures,
investments, future financings, or 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, interest rates and newsprint prices;
newspaper circulation matters, including changes in readership, and
audits and related actions (including the censure of The Dallas
Morning News) by the Audit Bureau of Circulations; technological
changes, including the transition to digital television and the
development of new systems to distribute television and other
audio-visual content; development of Internet commerce; industry
cycles; changes in pricing or other actions by competitors and
suppliers; regulatory 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 and
dispositions; the recovery of the New Orleans market (where the
Company owns and operates market-leading television station WWL-TV,
the CBS affiliate) from the effects of Hurricane Katrina; general
economic conditions; and significant armed conflict, as well as
other risks detailed in Belo's other public disclosures, and
filings with the Securities and Exchange Commission ("SEC")
including the Annual Report on Form 10-K. DATASOURCE: Belo Corp.
CONTACT: Carey Hendrickson, vice president-Investor Relations &
Corporate Communications of Belo Corp., +1-214-977-6626 Web site:
http://www.belo.com/
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