Newspaper Pure-Play A.H. Belo Plunges On First Day Of Stock Trading

Posted Monday, February 11, 2008 12:00 am

By: Mark Fitzgerald Shares of Dallas Morning News parent A.H. Belo Corp. plunged more than 12% on its first day as a publicly traded newspaper pure-play company Monday.

A.H. Belo (NYSE: AHC) opened at $16.35 a share, and within an hour had fallen below $15. The stock's 4 p.m. EST close was $14.40, down $2.00, or 12.2%.

Last Friday, Belo completed the spin-off of its newspaper business into A.H. Belo, and relieved it of virtually all its debt.

Its more profitable television business, which will retain the Belo name, fared better on Wall Street Monday. The stock (NYSE: BLC) ended the day at $13.24, up 16 cents, or 1.22% from the opening.

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Newspaper Pure-Play A.H. Belo Plunges On First Day Of Stock Trading

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