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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C.
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): SEPTEMBER 13, 1994
A. H. BELO CORPORATION
(Exact name of registrant as specified in its charter)
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DELAWARE 1-8598 75-0135890
(State or other (Commission File (IRS Employer
jurisdiction of Number) Identification Number)
incorporation)
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COMMUNICATIONS CENTER, 400 SOUTH RECORD STREET, DALLAS, TEXAS 75202
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (214) 977-6606
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Page 1 of 7 pages.
Exhibit Index on page 4.
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Item 5. OTHER EVENTS.
On September 13, 1994, A. H. Belo Corporation (the
"Registrant") announced that it had reached an agreement in principle
to acquire KIRO-TV, a Seattle, Washington, television station for
$160 million in cash. The acquisition is subject to the execution
of a definitive purchase agreement and approvals of the transaction
by the appropriate federal agencies.
A copy of the Registrant's press release dated September 13,
1994 with respect to the proposed acquisition is filed as Exhibit 28.1
to this Report.
Item 7. FINANCIAL STATEMENTS AND EXHIBITS.
(c) Exhibits. The following exhibit is filed with this
Report:
Exhibit 28.1 Press release of Registrant
dated September 13, 1994
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this Report to be signed on its behalf by the
undersigned hereunto duly authorized.
A. H. BELO CORPORATION
Date: SEPTEMBER 19, 1994 By: /s/ Robert W. Decherd
Robert W. Decherd
Chairman of the Board, President
and Chief Executive Officer
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EXHIBIT INDEX
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EXHIBIT NUMBER DESCRIPTION PAGE
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28.1 Press release of Registrant 5
dated September 13, 1994
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EXHIBIT 28.1
5
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(LOGO) News Release
FOR IMMEDIATE RELEASE Contacts:
Tuesday, September 13, 1994 Belo Michael Perry or Harold Gaar
11:00 A.M. CDT 214/977-6622 214/977-7650
Bonneville Don Gale
801/575-5690
BELO BUYS STATION
KIRO-TV IN SEATTLE
SEATTLE -- A. H. Belo Corporation and Bonneville International
Corporation announced today an agreement in principle for Belo to acquire the
assets of Bonneville's KIRO-TV in Seattle, Washington, for $160 million in
cash. The asset purchase is subject to certain conditions, including the
approval of appropriate federal agencies.
Based on speculation that the CBS Television Network may move its
affiliation in the Seattle-Tacoma market to another station, Belo said that it
initially plans to operate KIRO as an independent station with a full local
news service.
In making the announcement, Robert W. Decherd, Belo's chairman of the
board, president and chief executive officer, said: "Seattle-Tacoma is the 12th
largest broadcast market in the country. KIRO's distinguished 36-year history,
its strong local news presence, and its community ties combine with the growing
Seattle economy to provide Belo with several attractive operating strategies."
Rodney H. Brady, president and chief executive officer of Bonneville
International Corporation, said: "Over the past 30 years Bonneville, through
its KIRO-TV and KIRO radio stations, has developed strong, supportive ties to
the greater Seattle community. Happily, Bonneville will continue its powerful
news, community service, and public affairs presence in the Puget Sound area
through its KIRO radio stations, its pending purchase of KING (AM), and its
sales agreement with KING (FM). Although the decision to sell KIRO has been
very difficult, one of the primary reasons we have entered into the agreement
with Belo is that we are confident that Belo shares the same strong commitment
to employees, programming and community values as Bonneville. Thus, the people
of the greater Seattle area will benefit from two broadcasting companies deeply
committed to community involvement."
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Page Two
September 13, 1994
Belo Buys KIRO-TV in Seattle
Ken Hatch, president and chief executive officer of KIRO, Inc., said:
"I believe Belo is the best of all possible buyers. Belo has an outstanding
record in markets where they operate stations. They are known for journalistic
excellence in all their broadcast properties and newspapers. It is a
progressive company that will offer great career opportunities to our people."
KIRO and its production arm, Third Avenue Productions, will become a
part of Belo's Broadcast Division headed by Ward L. Huey, Jr., president of
the Broadcast Division and vice chairman of Belo's Board of Directors. Mr.
Huey noted: "The addition of KIRO will give Belo three television stations in
the top 12 U.S. markets, increasing our station group's coverage to more than 8
percent of the nation's television households."
Belo owns and operates network-affiliated television stations WFAA-TV
(ABC) in Dallas-Fort Worth, Texas; KHOU-TV (CBS) in Houston, Texas; KXTV (CBS)
in Sacramento, California; WVEC-TV (ABC) in Hampton-Norfolk, Virginia; WWL-TV
(CBS) in New Orleans, Louisiana; and KOTV (CBS) in Tulsa, Oklahoma; as well as
Belo Productions, Inc.. Belo also owns The Dallas Morning News; DFW Suburban
Newspapers, Inc., publisher of eight community newspapers; and DFW Printing
Company, Inc.. Shares of Belo Series A Common Stock are traded on the New York
Stock Exchange under the symbol BLC.
Bonneville owns and operates KSL-TV, Salt Lake City, a CBS affiliate,
and 15 radio stations: WMXV (FM), New York; KBIG (FM), Los Angeles; WTMX (FM),
Chicago; KOIT (FM)/KOIT (AM), San Francisco; KZPS (FM), Dallas; KIRO (AM)/KIRO
(FM), Seattle; KPSN (FM)/KIDR (AM), Phoenix; KLTH (FM)/KMBZ (AM), KCMO (FM)/
KCMO (AM), Kansas City; and KSL (AM), Salt Lake City. Bonneville has recently
announced proposed purchases of KING (AM), Seattle, and KDGE (FM), Dallas.
Bonneville also operates Bonneville Communications, Video West Productions,
Bonneville Entertainment Company, and Bonneville Satellite Company, all in Salt
Lake City, and Bonneville's Washington News Bureau in Washington, D.C..
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