A. H. Belo Corporation announces private stock transaction
A. H. Belo Corporation has announced that the company's chief executive officer, Robert W. Decherd, purchased 143,419 shares of A. H. Belo common stock in a private transaction on Friday, May 3. Decherd purchased 100,000 Series B shares at $5 each and 43,419 Series A shares at $4 each.
The purchases increase Decherd's total Series B holdings to 1,682,431 shares and his Series A holdings to 43,419 shares, inclusive of 300,291 Series B shares for which Decherd exercises voting power. The total number of shares he now votes is 1,682,431 Series B shares and 43,419 Series A shares, or approximately 38.6 percent of the company's voting power.
Decherd said, "The transition of The Dallas Morning News and all great metropolitan newspapers to a digital-first business model will be lengthy. Continuity will matter a lot in the successful completion of this transition. This is why I purchased these additional shares, reflecting my conviction about the importance of distinguished local journalism in Dallas and throughout America."