Newspaper & Mailroom

Newspaper Publisher A. H. Belo Corporation and Former Parent Company Belo Corp. Split Pension Plan

Tuesday 04. January 2011 - A. H. Belo Corporation (NYSE: AHC) announced today that the Company and Belo Corp. have completed the split of The G. B. Dealey Retirement Pension Plan ("GBD Pension Plan") into separately-sponsored plans as scheduled.

The split of the GBD Pension Plan will not change the amount of the benefits any participant has accrued or is currently receiving. A. H. Belo has also decided to make an additional contribution totaling $30 million into the two new defined benefit pension plans created, sponsored and managed by or on behalf of the Company (the “AHC Pension Plans”).
Benefit liabilities and assets allocable to the approximately 5,100 current and former employees of A. H. Belo and its newspaper businesses under the GBD Pension Plan have been transferred in accordance with government regulations into the AHC Pension Plans, and the new AHC Pension Plans are solely responsible for paying those benefits. The benefit liabilities and assets allocable to the current and former employees of Belo Corp. and its television businesses continue to be held by the existing GBD Pension Plan sponsored and managed by Belo Corp. By June 30, 2011, the Company and Belo Corp. expect to complete a final assessment and reconciliation of the allocations made from the GBD Pension Plan to the AHC Pension Plans based upon final January 1, 2011 data.
As disclosed when the agreement to split the GBD Pension Plan was announced on October 7, 2010, A. H. Belo will record a significant non-cash charge related to the split when the Company reports fourth quarter financial results. Under the new AHC Pension Plans, future pension expense and cash contributions will be determined by interest rates, discount rates, return on assets, regulatory requirements, and actuarial gains and losses.