Belo: From Newspapers to New Media

Chapter 9. THE WORLD TAKES NOTE (1987–2000)

Chapter 9 THEWORLDTAKESNOTE 1987–2000 January 1987 was a time of change all around for Robert Decherd, as it was for several others in the Belo hierarchy. When Robert promoted Jim Sheehan,Ward Huey,and Burl Osborne,he set up a reporting system such that Sheehan and Huey both reported directly to him,while Osborne reported to Sheehan. Ward outranked Jim in his role as vice chairman of the board,but not in the operating structure.The earlier promotions of non-family members to the top positions at the News had set the stage for a similar transition at Belo, and Sheehan had been groomed for the pioneering role as the first non-family president of Belo. Robert had been quoted in a 1985 Advertising Age story saying, “I would not say I am a‘lifer’at Belo.But there are many different elements to managing a responsible media company . . . and that can challenge me for a considerably long period of time.” It appeared that Robert was beginning to move out of day-to-day operations and handing over the reins to Sheehan. That January, as Robert took over leading Belo, he also had some things to celebrate in his family. Early in the year, Robert and Maureen welcomed a new member of the family, their daughter,Audrey Maureen Decherd, who arrived just two weeks before the Decherds’ twelfth wedding anniversary, completing the Decherd household. Robert’s family has always been first in his life. Although he never made an issue of it at Belo, he demonstrated his commitment as he actively participated in his children’s upbringing.His son,William,who is now involved in his own career, recalls with some wonder that his father almost always managed to be home for dinner with the family as he and his sister were growing up. That commitment to his own family was reflected in the ethos Robert established immediately with his corporate staff, as well, although few followed his example. The Wall Street Journal took notice of the developments in Robert’s life in a front-page feature on Belo, with one of its distinctive stippled portraits of Robert near the top of the story.The story focused on the many changes at Belo in recent times: These are heady times for the 35-year-old Mr. Decherd and the Dallas based media company that he is pushing to power in the Southwest. Long a plodding family newspaper concern, Belo has picked up speed since 1981—doubling its size, largely through a huge broadcast acquisition, and prowling for newspapers to buy.1 The writer goes on to make note of Sheehan’s promotion to president , saying,“For the first time since George Bannerman Dealey bought the company in 1926, Belo’s president, James Sheehan, isn’t a Dealey descendant.” Even as a young man,Jim Sheehan had the presence of a stern and circumspect four-star general, and except for the other most senior executives , who were spared his usual demeanor, those around him learned to tread lightly.Sheehan soon promoted Mike Perry to senior vice president and chief financial officer, over Bob Norvell, who had been Belo’s treasurer for several years.Soon after that he terminatedWalt Mullins,the vice president for administration,during the company’s first-ever reduction in force, as it was called. That unprecedented layoff affected company employees across the Dallas region during the depths of the local recession. Next to go in a short time was Bob Norvell, and the treasurer’s title also was given to Mike Perry, who seemed to know better than the others how to meet Sheehan’s expectations of his staff,which often required Mike to be at the office well before and after normal working hours. Those seemingly abrupt changes put the rest of the comparatively small corporate staff on edge,but Robert stood by Jim,who had been the 232 TheWorldTakes Note company’s financial strategist and chief spokesman with the investment community since joining Belo in 1982. Belo’s net earnings for 1988 were less than half of those for 1987, as the region’s economy hit new lows in real estate, banking, and oil, and Belo was still working off debt from its acquisitions and the expansion of the North Plant. Another expense had been two years of legal fees fighting lawsuits filed by Dean Singleton soon after he bought the Times Herald...