A.H. Belo announces it will sell The Providence Journal
Announcement follows recent its closing of the sale of the Riverside Press-Enterprise to Freedom Communications
The publisher of The Dallas Morning News, A.H. Belo, this morning announced that it had contracted with Stephens Inc. to begin seeking buyers for its newspaper in Providence, Rhode Island.
“The Providence Journal is an important financial contributor to our Company, and the newspaper’s commitment to the citizens of Providence and Rhode Island is unmatched,” Jim Moroney, chairman, president and Chief Executive Officer, said in the announcement. “However, with A. H. Belo’s focus on investing and growing in Dallas, it makes sense to explore this opportunity.”
The move, the company said, is intended to allow the newspaper publisher to concentrate on its “core Dallas market.” Recently the company announced that it had entered into an agreement to begin printing the Fort Worth Star-Telegram, bringing in between $6.0 to $6.5 million in printing revenue annually.