Belo Finds a Short-Term Fix

Decherd, the great-grandson of Dealey, has repeatedly said the dual-class structure would remain in place at Belo. He also has said the company will not be sold or taken private.

Decherd will become chairman, president and CEO of the newspaper company A.H. Belo, as well as nonexecutive chairman of the television company Belo Corp. Belo President and Chief Operating Officer Dunia Shive will become president and CEO of the television company after the separation.

"These are challenging times for newspapers generally, but I believe strongly that we have a collection of superior assets and a game plan to flourish," said Decherd. "My decision to lead A.H. Belo as chairman and CEO reflects my deep personal commitment to the newspaper business and my firm belief in the importance of newspapers making a successful transition to a technology-based society."

Decherd cited Belo's advertising relationship with Yahoo! (YHOO) as a prime example of the measures its newspaper business is taking to adjust to the Internet as the turmoil in the industry takes its toll. Other newspaper conglomerates have partnered with Yahoo!'s Internet search rival, Google (GOOG).

"There is no Plan B for Belo Corp. or A.H. Belo Corp.," he said. "We're in the business to stay."

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