The stock for the parent company of Dallas’ Only Daily Newspaper is above $2 a share this afternoon – the first time since Feb. 12 it passed the $2 mark.
Since Belo announced its program of layoffs, wage cuts and other assorted reductions at the beginning of March, its share price has almost tripled. Its 52-week high is $12.03. (As noted, I own 200 shares of Belo.)
And, in what probably boosted the stock today, some employees at Belo’s Press-Enterprise newspaper in Riverside, Calif., are reporting that they’ve heard rumors that Belo will close the Press-Enterprise. Interestingly, the layoffs that took place at The Morning News a couple of weeks ago started today in California.