Joint Press Release of FUNKE MEDIENGRUPPE and Axel Springer AG
Highlights for the quarter include the following: — Agreement to acquire Belo Corp. — Local domestic circulation revenue up 11 percent; fifth consecutive quarter of growth — Broadcasting revenue of $212 million, 3 percent higher than prior year — Company-wide digital revenue growth of 20 percent reaching almost 30 percent of total revenue — New $300 million, two-year share repurchase program replacing current program; existing dividend program will continue
The Houston Chronicle announces the launch of its next generation jobs mobile application. Delivering functionality that goes beyond being just another job search app, the Chron Jobs app is an integral part of planning and executing on a long term career path.
A. H. Belo Corporation (NYSE: AHC) today announced it completed the sale of its five-story office building and certain related assets in Riverside, California to the County of Riverside for $30 million. The proceeds to the Company were approximately $28.6 million after selling costs of approximately $1.4 million. In the third quarter of 2013 the Company will record a gain of approximately $4 to $5 million related to this transaction. However, this transaction will not result in a taxable gain to the Company.
Al Día, the award-winning and leading Spanish-language newspaper in North Texas, has named Penni Barton as publisher. Barton, a native of England who grew up in Uruguay, brings more than 20 years of experience in comprehensive brand, retail and shopper marketing working with Fortune 500 companies including Yum Brands, Dr. Pepper/Seven Up, and FedEx Office.
Sun Media Corporation announces the elimination of 360 positions, the closing of 8 publications across the country and 3 of its free urban dailies, the 24 Hours newspapers in Ottawa, Calgary and Edmonton, as well as a series of initiatives to enhance operational efficiencies. The strategic overhaul is expected to yield annual savings of approximately $55 million.
The New York Times Company announced today that Meredith Kopit Levien, currently the chief revenue officer at Forbes Media, has been named executive vice president, advertising. Ms. Kopit Levien will be responsible for the generation of all advertising revenue from The Times’s various multiplatform products and services and for leadership of its global advertising sales team. As a member of the executive committee, she will report directly to President and CEO Mark Thompson, effective August 5, 2013.
