DALLAS, April 2 -- Newspaper publisher A. H. Belo
Corporation (NYSE: AHC) released a "Letter to Colleagues" today from Robert W.
Decherd, chairman, president and Chief Executive Officer. The letter outlines
additional steps the Company is taking to reduce costs in response to
continued revenue challenges. These actions include salary reductions for
certain employees and the suspension of the A. H. Belo Pension Transition
Supplement Plan contribution for 2009. A copy of the letter is posted on the
Company's website (www.ahbelo.com) in the Investor Relations section.
Additionally, A. H. Belo announced today that its Board of Directors has
approved the Company's previously-announced suspension of the A. H. Belo
Savings Plan employer matching contribution and adopted an amendment to the A.
H. Belo Change in Control Severance Plan to reduce the severance multiple for
the Chief Executive Officer and all other designated participants.
About A. H. Belo Corporation
A. H. Belo Corporation (NYSE: AHC), headquartered in Dallas, Texas, is a
distinguished newspaper publishing and local news and information company that
owns and operates four daily newspapers and a diverse group of Web sites. A.
H. Belo publishes The Dallas Morning News, Texas' leading newspaper and
winner of eight Pulitzer Prizes since 1986; The Providence Journal, the
oldest continuously-published daily newspaper in the U.S. and winner of four
Pulitzer Prizes; The Press-Enterprise (Riverside, CA), serving southern
California's Inland Empire region and winner of one Pulitzer Prize; and the
Denton Record-Chronicle. The Company publishes various specialty publications
targeting niche audiences, and its partnerships and/or investments include the
Yahoo! Newspaper Consortium and Classified Ventures, owner of cars.com. A. H.
Belo also owns direct mail and commercial printing businesses. Additional
information is available at www.ahbelo.com or by contacting Alison K. Engel,
senior vice president/Chief Financial Officer, at 214-977-2248.
Statements in this communication concerning A. H. Belo Corporation's (the
"Company's") business outlook or future economic performance, anticipated
profitability, revenues, expenses, dividends, capital expenditures,
investments, future financings, and 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 trends and other circulation matters, including changes in
readership patterns and demography, and audits and related actions by the
Audit Bureau of Circulations; challenges in achieving expense reduction goals,
and on schedule, and the resulting potential effects on operations;
technological changes; development of Internet commerce; industry cycles;
changes in pricing or other actions by competitors and suppliers; regulatory,
tax and legal 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, dispositions, co-owned ventures, and investments;
general economic conditions; significant armed conflict; and other factors
beyond our control, as well as other risks described in the Company's Annual
Report on Form 10-K for the year ended December 31, 2008.
