June 10, 2010
Newspaper Publisher A. H. Belo Corporation Holds Annual Meeting of Shareholders
DALLAS - Newspaper publisher A. H. Belo Corporation (NYSE: AHC) held its Annual Meeting of Shareholders today. Shareholders re-elected two Class II directors: Laurence E. Hirsch, a director since December 2007 and chairman of Eagle Materials Inc., and John P. Puerner, a director since May 2008 and former publisher, president and Chief Executive Officer of the Los Angeles Times. These Class II directors are eligible to serve a three-year term until the 2013 annual meeting.
In accordance with the Company's bylaws, J. McDonald (Don) Williams, a Class III director, retired from the Board of Directors at the Annual Meeting after 25 years of service as a director, committee chair and lead director of both Belo Corp. and A. H. Belo Corporation. Williams had reached the Board's mandatory retirement age of 68. David R. Morgan, a Class I director since May 2008, also stepped down at the Annual Meeting. Morgan previously informed the Board of his desire to devote more time to his new Internet company, Simulmedia, which he launched in early 2009.
"Don Williams has served this Company with great distinction for a quarter of a century," said Robert W. Decherd, A. H. Belo's chairman, president and Chief Executive Officer. "It is hard to measure completely the breadth and impact of Don's many contributions to the Board and the Company. As a champion of A. H. Belo's journalistic responsibilities, he has stood out among his fellow directors."
Decherd continued, "The Board and I are truly grateful to Dave Morgan for helping develop a promising strategy for A. H. Belo following its spin-off from Belo Corp. in February 2008. Dave has provided an invaluable perspective about the evolution of media during a critical time in the Company's history and the newspaper industry, and his insights will have a lasting effect here."
At today's meeting, shareholders also ratified the appointment of KPMG LLP as A. H. Belo's independent registered public accounting firm for 2010.
In his remarks at the Annual Meeting, Robert W. Decherd, chairman, president and Chief Executive Officer, assessed the Company's performance in 2009 and outlined the Company's efforts to propel the business forward in 2010.
A replay of the Webcast of the Annual Meeting of Shareholders can be found at the Company's Web site at www.ahbelo.com/invest.
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 nine 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 David A. Gross, vice president/Investor Relations and Strategic Analysis, at 214-977-4810.
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, impairments, pension plan contributions, 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 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; pension plan matters; general economic conditions and changes in interest rates; 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, 2009, and other public disclosures and filings with the Securities and Exchange Commission.