Belo Earnings: Could Be Better, Could Be Worse
The most memorable sentence from Belo's second-quarter earnings results, released this morning, is this one:
Newspaper Group segment costs and expenses decreased 9.2 percent versus the second quarter of 2006, due in part to the 2006 headcount reductions at The Dallas Morning News and The Press-Enterprise, and lower newsprint and distribution expenses.
"Headcount reduction." Nothing like having your layoff -- pardon, your buy-out -- reduced to a good name for a heavy-metal band. --Robert Wilonsky