A.H. Belo Corp. announced plans to repurchase shares Thursday, claiming its “stock has never represented better value.”
The Dallas-based media company will make the purchases both on the open market and through private arrangements under its existing repurchase authorization. Belo said that authorization permitted the purchase of up to 10.7 million shares.
“Belo’s assets are as attractive as any in the television and newspaper industries,” said Belo chairman Robert W. Decherd.
Belo’s TV assets include 12 stations in the top-50 markets, while the Dallas Morning News serves as the flagship for the company’s publishing division.
Belo stock lost 6¢ a share Thursday to close at $22.56.