The Dallas Morning News Plans Voluntary Severance
June 26 2006 - 3:46PM
PR Newswire (US)
DALLAS, June 26 /PRNewswire-FirstCall/ -- The Dallas Morning News
announced it is planning a voluntary severance program for newsroom
employees. This program is part of the organization's on-going
effort to continue to compete successfully in an increasingly
Internet-centric market place. At the Newspaper Association of
America's Mid-Year Media Review this month, Robert W. Decherd,
chairman, president, and chief executive officer of Belo Corp.
(NYSE:BLC), owner of The Dallas Morning News, said, "We are
launching new products, reengineering our cost structure and
reallocating human, financial and capital resources to match the
Company's forward strategy, while constantly looking to take costs
out of our business overall. We are determined to remain the
content provider of choice in our local markets and are confident
that we have the assets and management talent to succeed." Jim
Moroney, publisher and CEO of The Dallas Morning News said, "A
voluntary severance program for Dallas Morning News newsroom
employees is consistent with this strategy." Program details and
timing are under consideration. The Dallas Morning News will
announce program specifics when those specifics are finalized.
About The Dallas Morning News Established in 1885, The Dallas
Morning News is the nation's tenth largest newspaper and serves a
readership of nearly 1.6 million. The newspaper has received eight
Pulitzer Prizes since 1986, as well as numerous other industry
awards recognizing the quality of its investigative and feature
journalism, design and photojournalism. Its Web site,
DallasNews.com, received the Scripps Howard Foundation National
Award for Web Reporting in 2005. In 2003, the paper launched the
leading Spanish-language daily in North Texas, Al Dia; the
standard-setting free weekday paper, Quick; and the nation's first
editorial blog. The Dallas Morning News is the flagship newspaper
subsidiary of Belo Corp., 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, and Rhode Island and the
Mid-Atlantic. Statements in this communication concerning a
voluntary severance program and other matters that are not
historical facts are "forward-looking statements" 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
advertising demand; changes in newspaper readership; newsprint
prices; technological changes; development of Internet commerce;
industry cycles; general economic conditions; and significant armed
conflict, and other risks detailed in Belo Corp.'s other public
disclosures and filings with the Securities and Exchange
Commission. DATASOURCE: The Dallas Morning News CONTACT: Amy
Corenblith of Richards-Gravelle, +1-214-891-5863, or , for The
Dallas Morning News
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