Belo's Monthly Revenue and Statistical Report December 2004

Belo's Monthly Revenue and Statistical Report December 2004

DALLAS, Feb. 10 /PRNewswire-FirstCall/ -- Belo Corp. (NYSE:BLC) issued today its statistical report for the month of December. Newspaper Group revenues increased 1.3 percent for the month of December with advertising revenue up slightly. Including online revenue, Newspaper Group total revenue would have increased approximately 2.4 percent, with a decrease of 0.7 percent at The Dallas Morning News, an increase of 0.6 percent at The Providence Journal, and an increase of 16.8 percent at The Press-Enterprise in Riverside. Television Group revenues increased 3.5 percent with a 4.5 percent increase in spot revenue.

December Newspaper Linage

At The Dallas Morning News, total revenue decreased 2.1 percent in December, with advertising revenue down 4.7 percent. Advertisers used approximately $3.3 million of advertising credits associated with the advertiser compensation plan. Retail full-run ROP revenue decreased 11.5 percent with the most significant decreases noted in the department stores and grocery categories. Retail full-run ROP linage decreased 1.1 percent. General full-run ROP revenue decreased 6.8 with increases in the insurance and automotive categories more than offset by decreases in the telecom and packaged goods categories. General full-run ROP volume increased 15.8 percent. Classified revenue decreased 3.4 percent versus last year with a five percent decrease in volume. Including online revenue, classified revenue decreased slightly with an increase in classified employment of 44.3 percent, a decrease in classified real estate of 5.3 percent and a decrease in classified automotive of 17.7 percent.

At The Providence Journal, total revenue was flat in December with a 0.7 percent increase in advertising revenue. Total full-run ROP linage decreased 2.3 percent. Retail volumes decreased 8.0 percent while general and classified volumes increased 21.3 percent and 8.2 percent, respectively.

About Belo

Belo Corp. 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 approximately 7,600 employees and $1.5 billion in annual revenues, Belo operates media franchises in some of America's most dynamic markets and regions, including Texas, the Northwest, the Southwest, Rhode Island, and the Mid-Atlantic. Belo owns 19 television stations (six in the top 15 markets); 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 Providence Journal, The Press-Enterprise (Riverside, CA) and the Denton Record-Chronicle (Denton, TX). Belo operates more than 30 Web sites, several interactive alliances and a broad range of Internet-based products. Additional information, including earnings releases and corporate communications, is available online at http://www.belo.com/ . For more information contact Carey Hendrickson, vice president/Investor Relations & Corporate Communications, at 214-977-6626.

Statements in this communication concerning Belo's business outlook or future economic performance, anticipated profitability, revenues, expenses, capital expenditures, investments, future financings or other financial and non-financial items that are not historical facts, are "forward-looking statements" as the term is defined under applicable federal securities laws. Forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from those statements.

Such risks, uncertainties and other factors include, but are not limited to, changes in advertising demand, interest rates and newsprint prices; The Dallas Morning News circulation matters, including current and future audits of the newspaper's circulation by the Audit Bureau of Circulations; technological changes, including the transition to digital television and the development of new systems to distribute television and other audio-visual content; development of Internet commerce; industry cycles; changes in pricing or other actions by competitors and suppliers; regulatory changes; adoption of new accounting standards or changes in existing accounting standards by the Financial Accounting Standards Board or other accounting standard-setting bodies or authorities; the effects of Company acquisitions and dispositions; general economic conditions; and significant armed conflict, as well as other risks detailed in the Company's filings with the Securities and Exchange Commission, including the Annual Report on Form 10-K.

Belo
Monthly Revenue and Statistics
December 2004

Revenue:
(Dollars in thousands)
December YTD
2004 2003 Change 2004 2003 Change
Total Television Group
Revenue 55,302 53,416 3.5% 706,410 646,666 9.2%
Total Newspaper Group
Revenue 66,484 65,613 1.3% 752,910 745,941 0.9%



The Dallas Morning News
Linage (Note 1 & 2):
December YTD
2004 2003 Change 2004 2003 Change
Number of Sundays 4 4 --- 52 52 ---

FULL RUN ROP
(Measured in
six-column SAU
inches)
Retail 105,075 106,218 -1.1% 938,704 955,059 -1.7%
General 34,544 29,829 15.8% 301,471 286,592 5.2%
Classified 107,753 113,468 -5.0% 1,401,757 1,505,307 -6.9%
TOTAL 247,372 249,515 -0.9% 2,641,932 2,746,958 -3.8%

Note 1: Certain amounts have been reclassified to conform to the current
year presentation.

Note 2: Linage is for The Dallas Morning News newspaper only. Linage for
the Denton Record-Chronicle, al dia, and Quick is not included
due to the difference in their circulation versus The Dallas
Morning News.

Source: Internal Records



The Providence Journal
Linage:
December YTD
2004 2003 Change 2004 2003 Change
Number of Sundays 4 4 --- 52 52 ---

FULL RUN ROP
(Measured in
six-column
SAU inches)
Retail 69,806 75,889 -8.0% 684,510 724,121 -5.5%
General 5,819 4,798 21.3% 61,358 47,406 29.4%
Classified 32,935 30,442 8.2% 464,674 430,874 7.8%
TOTAL 108,560 111,129 -2.3% 1,210,542 1,202,401 0.7%

Source: Internal Records



GAAP to Non-GAAP Reconciliations
Belo Corp.
In thousands (unaudited)

Revenues:
(Dollars in thousands)
December YTD
2004 2003 2004 2003

Newspaper Group $66,484 65,613 752,910 745,941
Online Publishing (1) 2,067 1,320 20,183 15,192
Combined 68,551 $66,933 773,093 $761,133

Certain amounts for the prior year have been reclassified to conform
to the current year presentation.

Note 1: Online publishing revenue is a component of Interactive Media
revenues.

Source: Internal Records



Source: Belo Corp.

CONTACT: Carey Hendrickson, vice president-Investor Relations &
Corporate Communications of Belo Corp., +1-214-977-6626

Web site: http://www.belo.com/


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