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GP · 12-06-2004, 08:44 PM

Belo falsified their subscription numbers to advertisers and got caught. They had to pay a boatload of money back. I can't remember the actual dollar amount but it was somewhere around 50 million. Anyway, both the Houston Chronicle and DMN laid off 300 people.

"Belo disclosed Aug. 5 that the Morning News had overstated newspaper sales as of September 2003. Advertisers overpaid because rates are usually based on circulation.

Belo is paying $23 million in cash and another $4 million on extra newsprint for make-good ads, and taking a $26 million charge against earnings to compensate advertisers for the mistake." from an associated press article.

12-06-2004, 08:44 PM	#13
GP Member Join Date: Jul 2004 Posts: 826	RE:Dampier, beyond numbers Belo falsified their subscription numbers to advertisers and got caught. They had to pay a boatload of money back. I can't remember the actual dollar amount but it was somewhere around 50 million. Anyway, both the Houston Chronicle and DMN laid off 300 people. "Belo disclosed Aug. 5 that the Morning News had overstated newspaper sales as of September 2003. Advertisers overpaid because rates are usually based on circulation. Belo is paying $23 million in cash and another $4 million on extra newsprint for make-good ads, and taking a $26 million charge against earnings to compensate advertisers for the mistake." from an associated press article.