ProJo parent co. restructures management

By PBN Staff

DALLAS – A.H. Belo Corp., parent company of The Providence Journal and two other papers, announced a senior management shake up Thursday.

John C. McKeon, president and general manager of The Dallas Morning News, will leave his position and will not be replaced. Those duties will become the responsibility of the publisher and CEO, James M. Moroney III in an effort “to streamline operations.”

Those who reported to Moroney - Howard G. Sutton, publisher and CEO of The Providence Journal, and Ronald D. Redfern, publisher and CEO of The Press-Enterprise in California – will now report to A.H. Belo Chairman, President and CEO Robert W. Decherd.

A.H. Belo also previewed its fourth-quarter earnings results; the company expects a 4 to 5 percent revenue decline compared with the same 2010 period.

A.H. Belo also divided the assets of a real estate investment company, Belo Investment LLC, it owned in conjunction with its former parent company Belo Corp. A.H. Belo expects a related non-cash expense of $4.5 million in the fourth quarter and will record a liability of $800,000 for deferred capital improvements to a property retained by Belo Corp.