Posted 4/7/2014 12:00 am
In 2013, Dillard’s Inc. of Little Rock spent $3.91 million for advertising to media companies associated with Little Rock investor Warren Stephens.
Here’s how we know: The publicly traded company is required to disclose any dealings with its directors, and Stephens is one of those.
So in its annual proxy statement, filed last week with the Securities & Exchange Commission, Dillard’s revealed its spending with Stephens Media LLC, Halifax Media LLC and Northwest Arkansas Newspaper Partnership.
Stephens Media of Las Vegas, which Stephens owns jointly with his Little Rock cousins Witt Stephens Jr. and Elizabeth Stephens Campbell, received $1.05 million in Dillard’s advertising in 2013, down from $1.4 million in 2012 and $2.3 million in 2011.
Stephens Media has been shrinking its number of employees over the years, most recently laying off all but one reporter at its Arkansas News Bureau in Little Rock.
On the other hand, Halifax of Daytona Beach, Fla., received $2.56 million from Dillard’s in 2013, up from $2.29 million in 2012 and $687,000 in 2011.
Stephens is the majority owner of Halifax, which began buying newspapers in 2010. It has no papers based in Arkansas.
Finally, Dillard’s spending on papers owned by the Northwest Arkansas Newspaper Partnership of Springdale has fallen over the past three years. The partnership received $305,000 in 2013, $405,000 in 2012 and $525,000 in 2011.