Huffpost Business

Belo To Spin Off Into Separate Newspaper, TV Companies

Posted: Updated:

Belo Corp. said Monday it plans to separate itself into distinct newspaper and television businesses, with its current chief executive remaining with the newspaper side.

Its shares climbed nearly 17 percent in morning trading.

A.H. Belo Corp., as the newspaper spinoff company will be known, will own and operate the company's flagship paper, The Dallas Morning News, as well as The Providence Journal and The Press-Enterprise of Riverside, Calif.

The remaining Belo Corp. will own and operate 20 television stations and two regional cable news channels.