Dallas-based Belo performing more dire surgery on itself

by PegNews wire

Dallas-based Belo Corp. announced several cost-saving measures that will help reduce the Company's expense base amid the current economic slowdown.

The cost-saving measures include:

the suspension of Belo Corp.'s 401(k) matching contribution for all employees
a 5% salary reduction for employees who are part of the Company's management compensation programs
a Company-wide staff reduction of approximately 150 positions.

These additional cost-saving measures will become effective mid-April.

"As a result of these actions, and other measures previously implemented, we expect 2009 cash operating expenses to be approximately 10 percent lower than 2008, excluding severance costs," said Dunia A. Shive, Belo's president and Chief Executive Officer.

About Belo Corp.

Source: Belo

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alexander troup, says:

Poor old rag, comming to hold out its hand in the rain and say what did we do wrong, "Became the only one"

.....A/T,...Without the Herald you have no night vision, and then all you have is day with the M/N.

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8 months, 3 weeks ago
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Vic Savelli, says:

This latest release is for "BLC" - Belo broadcasting. It follows similar steps that the publishing company "AHC" took a few weeks ago. BLC shed the publishing division last year and it spun off as AHC. It is unbelievable how quicky affiliate television stations have plummeted in value. These stocks are now "BELO" $1 a share currently.

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8 months, 3 weeks ago
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Russ Vandeveerdonk, says:

Yes, changes/cutbacks, even Belo's Ch. 8 News anchor Jeff Brady is also gone. Change, change for everyone in 2009, all will be fine by October though, then we will ALL have a new way of thinking and living.

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8 months, 3 weeks ago
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Billusa99, says:

Because in October we can pretend all is copesetic, while dress up for halloween??

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8 months, 3 weeks ago
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Chris Kidd, says:

I dont know if I should feel bad or gloat on the fact belos own stupidity got them in this mess.

When you have a DMN reporter that the Presidents staff kicked off of his plane during the election(15th largest circulation my a), add to the fact one of the poorest displays of newscasting in any market(ive seen better on community access), you have to question their relevance in this modern media world. Maybe its time they clean house stem to stern and take the product into a new direction, seeing what their doing now isnt really attracting new viewers/readers.