A. H. Belo Corporation Provides Business Update in Response to COVID-19 Outbreak
A.H. Belo Corp (AHC)
US:NYSE Investor Relations:
investor.ahbelo.com
Company Research
Source: GlobeNewswire
DALLAS, April 06, 2020 (GLOBE NEWSWIRE) -- A. H. Belo Corporation (NYSE: AHC) announced today that it is taking several actions to maintain operating momentum while preserving cash and financial flexibility. Grant Moise, president and publisher of The Dallas Morning News, said, “We have entered an economic reality where our growth in audience is not enough to offset near-term challenges in advertising revenue. While we are aggressively reducing non-compensation related expenses, that will not be enough. Base compensation for all employees is being reduced between 3 percent and 17 percent. Total compensation for senior executives may be reduced by as much as 27 percent. There will be no immediate layoffs or furloughs. “The responsible stewardship of the Company’s balance sheet will allow us to come out of the downturn in a position of comparative strength. Our unduplicated, high-quality journalism and public engagement have never been more important.” Katy Murray, exec
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