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Dallas Morning News parent company seeks name change to ‘embrace social justice movement’
A. H. Belo Corporation cites its founder’s ties to the Confederate Army.
A. H. Belo Corporation will ask shareholders in May to approve changing its name to DallasNews Corporation.(Tom Fox / Dallas Morning News)
The parent company of
The Dallas Morning News announced Tuesday during its quarterly conference call that it will seek to change its name, citing its namesake founder’s ties to the Confederacy.
During the call with investors, A. H. Belo Corporation also said it intends to seek shareholder approval for a reverse stock split to regain compliance with its New York Stock Exchange listing requirements. It reported a 12.8% drop in revenue and a loss for the quarter and the year.
Alfred Horatio Belo who died in 1901 was a Confederate Colonel in the Civil War. He launched the Dallas Morning News in 1885.
Belo Chief Executive Officer Robert Decherd declined an interview request. A company representative referred to comments Decherd made to investors in a conference call early Tuesday.
“We are keenly aware that the relationship of our company s name to a person who figured prominently in the Confederate Army is the source of discomfort, even pain, for many of our fellow citizens. And that is intolerable to the leaders of this enterprise, Decherd said.
Pastor Waters said Belo’s relatives were known to be slave owners and the Belo name has always been synonymous with the Confederacy. Waters said the timing of the change is clearly connected to the deaths of George Floyd and other African Americans who captured public attention for very unfortunate reasons. The former Minneapolis Police Officer accused of murder for Floyd’s death goes on trial t
Press release content from Globe Newswire. The AP news staff was not involved in its creation.
A. H. Belo Corporation Announces Fourth Quarter and Full Year 2020 Financial Results
A. H. Belo CorporationMarch 8, 2021 GMT
DALLAS, March 08, 2021 (GLOBE NEWSWIRE) A. H. Belo Corporation (NYSE: AHC) today reported a fourth quarter 2020 net loss of $1.7 million, or $(0.08) per share, and an operating loss of $4.0 million. In the fourth quarter of 2019, the Company reported a net loss of $1.1 million, or $(0.05) per share, and an operating loss of $2.4 million.
For the fourth quarter of 2020, on a non-GAAP basis, A. H. Belo reported operating income adjusted for certain items (“adjusted operating income (loss)”) of $0.5 million, an improvement of $0.4 million when compared to adjusted operating income of $0.1 million reported in the fourth quarter of 2019.