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The Guardian - UK
The Guardian - UK
Business
Roy Greenslade

Media company splits to boost stock price

The Dallas-based media company, Belo Corp, is to separate its newspaper and television assets, responding to investor complaints. It will transform itself into a TV company, with 20 profitable stations that generate half its revenue and three-quarters of its cash flow, and spin off its ailing newspaper division - with titles such as the Dallas Morning News and the Providence Journal - into a new entity. The proposal got a quick thumbs up from Wall Street with Belo shares jumping almost 19%. (Via Los Angeles Times)

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