Dallas Morning News publisher A.H. Belo to cut 14% of workforce (Dinosaur Media DeathWatch™)

Dallas Morning News ^ | July 28, 2008 | Brendan M. Case

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A. H. Belo Corporation said Monday it would cut 14 percent of its workforce, reduce other costs and explore selling some of its real estate, as the Dallas-based newspaper company announced its second quarterly loss in a row.

The company will make voluntary severance offers this week to employees at three of its daily newspapers, including The Dallas Morning News , with the goal of completing the process by mid-September.

The company aims to shed 500 full-time equivalent positions, and will make involuntary layoffs if it does not reach that goal. Those cuts and others are expected to lower costs by $50 million by early 2009, exclusive of newsprint price fluctuations.

“These initiatives address the adverse business environment facing the newspaper industry and the related, negative perception of the industry’s future prospects,” said Robert W. Decherd, A. H. Belo’s chairman, president and chief executive, in a letter to shareholders.

“We believe that the resultant, smaller workforce – focused intensely on products that take full advantage of A. H. Belo’s local capabilities in content creation and sales – is best suited for the business opportunities that will define our future success,” he said.

Between April and June, A. H. Belo lost $3.2 million, or 16 cents a share. As an independent company, it would have made $12.3 million, or 60 cents a share, in the same period last year. A. H. Belo was spun off from broadcast company Belo Corp. in February.

This year, A. H. Belo’s revenue declined to $163.3 million for the quarter, a 15 percent drop compared to its level a year ago. Advertising revenue sank by 21 percent, while circulation revenue rose nearly 9 percent.

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[abb]

Monday afternoon good news. More Obama staffers out of work.

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ping

[Nachoman]

For months I couldn’t go to a grocery store without being accosted by DMN salespeople trying to get me to subscribe.

I politely told them my dogs were housebroken.

[ken21]

they publish the temecula and riverside newspapers.

many of my neighbors take it.

i used to read the dallas morning news when i lived in austin.

all 3 papers suck.

[abb]

More...

http://www.editorandpublisher.com/eandp/news/article_display.jsp?vnu_content_id=1003832448
‘Chicago Tribune’ Extending Cuts Beyond Newsroom

http://www.editorandpublisher.com/eandp/news/article_display.jsp?vnu_content_id=1003832446
Slam Dunk? Four Newspaper Stocks Hit New All-Time Lows

http://www.editorandpublisher.com/eandp/news/article_display.jsp?vnu_content_id=1003832407
‘Pi-Press’ Drops to One News Section on Mondays, Tuesdays

http://www.editorandpublisher.com/eandp/news/article_display.jsp?vnu_content_id=1003832237
A.H. Belo Loses $3.2 Million In First Quarter as Newspaper Pure-Play

[ken21]

good.

i picked up my los angeles times sunday and this morning

and i keep thinking,

don’t they ever learn?

and i get it for $1 a week.

[abb]

Cancel it and send the money into Jim Rob. You have no idea how good it will make you feel.

http://www.mediaweek.com/mw/content_display/news/magazines-newspapers/e3i0d79bda05708d38740d40e31908c58ea
Buyers Want Newspapers to Reinvent Model
This year seen as industry’s worst since Depression

[ken21]

i already donated.

i do like the art reviews. i follow the l.a. arts scene.

i think the los angeles times will become a hollywood scene newspaper.

they’re out-classed by the politics on the web,

as the photo of the iranian missile launchers showed.

[MovementConservative]

...as the Dallas-based newspaper company announced its second quarterly loss in a row.

I love that word loss associated with newspapers. We've been teased with declining revenue and profits too long. Let's see some real hard core losses.

[Trajan88]

I've been a DMN subscriber for 10+ years... it has long lost the greatness from when it was known as the Conservative Bible of the Southwest (or something along that line).

When the Dallas Times Herald crashed and burned... the DMN started to become fat and lazy... which continues to this day.

A lot of the paper is comprised of "wire reports"... as a matter of fact, the DMN is quickly becoming a glorified version Belo's free daily Quick.

The only thing semi-worthy these days is "Sports Day" and "Metropolitan" (for the sleaze that occurs in Dallas city govt.) sections... the Business section has some on & off again greatness.

Poor Belo... put some Windex on it.

[Uncledave]

I’m fascinated by “Editor & Publisher” — here’s a magazine that’s covering a collapsing newspapers. I give them credit for a thorough job. But they evoke an image of a journalist standing on the titanic, interviewing the crew for a story as the ship goes down.

[jmaroneps37]

* “It is indeed a great pleasure to see trouble in our enemy's tent!”

* said in a middle eastern accent.