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Stock Market & Financial Investment News

News Breaks
December 4, 2013
08:04 EDTAHCA.H. Belo announces exploration of sale of Providence newspaper
A. H. Belo Corporation has engaged Stephens Inc. to explore a potential sale of The Providence Journal. The Providence Journal is the leading newspaper in Rhode Island and is the oldest major daily newspaper of general circulation and continuous publication in the United States. This decision is part of the revised financial and operating strategies discussed in the company’s third quarter earnings release. A sale of The Providence Journal would generate additional cash proceeds to potentially invest in or buy advertising and marketing services companies to grow and diversify revenues and to finance further share repurchases in the future. These funds may also be used for other general corporate purposes. Additionally, a sale of The Providence Journal would allow the company to continue to focus resources and management time and attention on its core Dallas market. However, the company cannot guarantee that an appropriate buyer will be located or that a transaction could be closed on acceptable terms and conditions.
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