During the call with investors, A. H. Belo Corporation also said it intends to seek shareholder approval for a reverse stock split to regain compliance with its New York Stock Exchange listing requirements. It reported a 12.8% drop in revenue and a loss for the quarter and the year.
The company will ask shareholders in May to approve changing its name to DallasNews Corporation. A. H. Belo was a colonel in the Confederate Army before buying the newspaper company that traces its roots to 1842.
“We are keenly aware that the relationship of our company’s name to a person who figured prominently in the Confederate Army is the source of discomfort, even pain, for many of our fellow citizens,” Robert W. Decherd, the company’s chairman, president and CEO, said during the call. “And that is intolerable to the leaders of this enterprise.”
