A.H. Belo stock soars, company loses money, and the News remains the same

Catching up with the latest from Dallas’ Only Daily Newspaper after spending most of the past three weeks away from the blog, attending to a variety of Advocate, wine and free-lancing duties:

· The stock of News’ parent A.H. Belo continues to rocket upward, finishing at $5.19 a share on Friday. As recently as July 19, it was at 98 cents. (Full disclosure — I own 200 shares of Belo stock, 100 of which I bought at 88 cents a share.) Wall Street, convinced that the recession is over, sees a Belo that has shed millions in expenses, mostly through layoffs, as ready to rebound.

· Which is odd, because the company’s third quarter financials were hardly uplifting. Belo lost $5.8 million and revenue decreased 17.5 percent from the third quarter a year ago. For the year, the company has $115.9 million.

· And, yes, some stories still provide a good giggle. An article about a week ago describing negotiations to provide rail service for the 2011 Super Bowl in Arlington neglected to mention how many passenger cars would be needed, how much it would cost or who would pay for the cars. That’s some thorough reporting, isn’t it?

By |2009-11-08T12:01:00-05:00November 8th, 2009|Media Matters, News|Comments Off on A.H. Belo stock soars, company loses money, and the News remains the same

About the Author:

Jeff Siegel
JEFF SIEGEL writes about neighborhood issues. He also blogs about wine. Email him at jsiegel@advocatemag.com or follow twitter.com/wine_curmudgeon.