January 20, 2006
Belo to Build Howard H "Tim" Hays Media Center for The Press-Enterprise in Riverside, Califormia
$38 Million State-of-the-Art Office Building Will Feature Advanced Technologies & Environmental Design
RIVERSIDE, CA -- Belo Corp. (NYSE:BLC) announced plans today to build a $38 million, state-of-the-art media center in Riverside, California for The Press-Enterprise, the leading provider of news and information for Inland Southern California. The 150,000-square-foot, five-story office building will centralize all news, editorial, advertising, sales and marketing, technology, production support and administrative functions for the organization's operations.
In addition to the newspaper and its associated Web site (www.pe.com), the facility will support The Business Press (www.thebizpress.com), the leading business newspaper in the Inland Empire; La Prensa (www.laprensaenlinea.com), the top Spanish-language weekly in Riverside and San Bernardino counties; and El D (www.laprensaenlinea.com/eld/), a weekly serving the Coachella Valley's Hispanic community.
Robert W. Decherd, Belo's chairman, president and chief executive officer, said, "Belo acknowledges The Press-Enterprise's news leadership role in Inland Southern California and the exciting future ahead for all its operations by constructing this premier office building. The media center will incorporate the most advanced technological tools and an office environment that appropriately reflects the outstanding work being done by our Press-Enterprise team."
Building Name Honors Howard H "Tim" Hays
Decherd also announced that the new facility will be named the Howard H "Tim" Hays Media Center to honor the former owner and publisher, who played a seminal role in building the newspaper into the community's largest news source, a major force in shaping the region's development and one of the nation's best newspapers. Hays joined the paper in 1946 as assistant editor, and became editor in 1949, co-publisher in 1965 and sole publisher from 1983 to 1988, staying involved in day-to-day operations until becoming chairman in 1992. He served in that capacity until the paper was acquired by Belo Corp. in 1997.
Decherd said, "Belo is proud to honor the remarkable leadership of Tim Hays who expanded upon his father's legacy to make The Press-Enterprise such a powerful news resource and advocate in addressing critical local community and national issues."
Under Hays' leadership, the paper won a Pulitzer Prize for meritorious public service among other awards, and prevailed in two U.S. Supreme Court cases regarding the public's access to information. His father, Howard H. Hays, Sr., initially invested $12,000 in the paper in 1931 and served as president from 1948 to 1969.
Media Center to Support New Era of Growth
Ronald Redfern, publisher and chief executive officer of The Press-Enterprise, added, "The Press-Enterprise is entering a new era and this new building signifies the opportunities we're pursuing to grow hand-in-hand with the vibrant communities we serve. We want to keep pace with our customers' changing needs by expanding coverage of critical issues, reaching more audiences with targeted publications, and offering enhanced Web sites that include video streaming of local television news and weather. By supporting dozens of community events and organizations, we help residents experience the best of what this region offers."
The new office building will be adjacent to the newspaper's current buildings and production facility, located at 3512 14th Street in Riverside, a site the newspaper has occupied for more than 50 years. The project will consolidate employees currently housed in three separate buildings. The building design includes spacious reception and common areas, well-organized offices for each functional area, extensive meeting rooms and the latest wireless and wired technologies. Energy-efficient construction is being planned to meet Leadership in Energy & Environmental Design (LEED) certification standards.
Construction for the new media center begins immediately with occupancy scheduled for the first quarter of 2007. Project architects are LPA, Inc. of Irvine, California, one of the largest architectural design firms in the country. The general contractor is DPR Construction, Inc., of Newport Beach, California. View the artist's renderings.
Since Belo acquired The Press-Enterprise Company in 1997, the Company has invested more than $87 million in capital improvements inclusive of this building. Plans call for additional major capital investments in production equipment and facilities in 2007 to 2010.
About The Press-Enterprise Company and Belo
The Press-Enterprise Company, a subsidiary of Belo Corp. (NYSE: BLC), is the leading provider of news and information for Inland Southern California through several newspapers, magazines and their associated Web sites. They include The Press-Enterprise (www.pe.com), The Business Press (www.thebizpress.com), La Prensa (www.laprensaenlinea.com) and El D (www.laprensaenlinea/eld/). Belo is one of the nation's largest media companies with a diversified group of market-leading television, newspaper, cable and interactive media assets. A Fortune 1000 company with 7,600 employees and $1.5 billion in annual revenues, Belo operates in some of the most dynamic markets in Texas, the Northwest, the Southwest, Rhode Island and the Mid-Atlantic. The Company also owns or operates seven cable news channels and manages one television station through a local marketing agreement. Belo's daily newspapers are The Dallas Morning News, The Press-Enterprise (Riverside, CA), The Providence Journal (Providence, RI) and the Denton Record-Chronicle (Denton, TX). The Company also publishes specialty publications targeting young adults and the fast-growing Hispanic market, including Quick and Al Dia in Dallas/Fort Worth and La Prensa and El D in Riverside. Belo operates more than 30 Web sites associated with its operating companies. Additional information is available at www.belo.com or by contacting Carey Hendrickson, vice president/Investor Relations & Corporate Communications, at 214-977-6626.