A.H. Belo Real-Estate Sell-Off On Hold

This dovetails with Wick’s previous post. What caught my ear in today’s A. H. Belo conference call (it was a webcast earnings report) was that the company’s plans to sell real estate to shore up its bottom line are on hold, Belo President, Chairman and CEO Robert Decherd said in the earnings call.  Jump for details.

“It will be awhile before we get what I would characterize fair value for real estate,” Decherd said, in answer to a question posed during today’s fourth-quarter earnings call. “We want to be actively marketing the properties and holding our expectations for fair value going forward.” While selling off unneeded real estate is generally a good idea, it’s also a sign that a company is scratching to make ends meet. Regardless, Decherd said, Belo’s real-estate holdings represent a significant value; the company’s sale of its properties in Rockwall and in Corona, Calif., netted Belo about $530,000, he said. Belo lists nearly half (about $264 million) of its assets as property, plant, and equipment. So, if anyone is looking for some prime real estate in downtown Dallas, maybe Decherd is accepting reasonable offers. Decherd said he’s discussed the possibility of selling Belo real estate before; it’s just that, right now, it’s a buyer’s market.  One of the company’s major cost reductions–cutting 500 employees–should mostly be completed by the end of the March, according to Decherd. At of the end of 2008, the company employed 2,950 full-time workers (including my wife) and 400 part-timers.

Newsletter

Get a weekly recap in your inbox every Sunday of our best stories from the week plus a primer for the days ahead.

Find It

Search our directories for...

Dining

Dining

Bars

Bars

Events

Events

Attractions

Attractions

View All

View All

Comments

7 responses to “A.H. Belo Real-Estate Sell-Off On Hold”

  1. JS says:

    Wait to sell until a nice new hotel is built nearby so that you can get more $! Smart.

  2. publicnewssense says:

    Both the DMN Bldg. and the Belo Bldg. would make excellent casinos.

  3. Ana Moure says:

    Casinos aren’t doing well anymore (despite the common sense telling that their profits grow in uncertain times.)

    Vegas is struggling after several conferences being cancelled; and Trump casinos are nearly bankrupt.

  4. Mag Boy says:

    PUBLISHERS SEE RED, MAG AD PAGES DOWN 21.5% IN Q1…HOW IS D MAGAZINE DOING??
    http://www.nypost.com/seven/02152009/business/publishers_see_red__mag_ad_pages_down_21_155268.htm

  5. publicnewssense says:

    Casinos are doing better than newspapers.
    And the Trump thing is an anomaly brought on by ego and arrogant behavior.
    By, golly, no mob casino ever went backrupt.
    I’ll believe the U.S. is serious about economic recovery when a member of a respectable family is in the cabinet. Those guys probably pay taxes these days.

  6. TxAnn says:

    I thank God every day that I’m out of that Belo mess