Belo Announces Quarterly Dividend

Belo Announces Quarterly Dividend

DALLAS, July 25 /PRNewswire-FirstCall/ -- Belo Corp. (NYSE:BLC) announced today that its Board of Directors declared a quarterly cash dividend for the third quarter of 2008 of $0.075 for each outstanding share of Series A common stock and Series B common stock to be paid on September 5, 2008 to shareholders of record on August 15, 2008.

About Belo Corp.

Belo Corp. is one of the nation's largest pure-play, publicly-traded television companies, with annual revenue of approximately $775 million. The Company owns and operates 20 television stations reaching more than 14 percent of U.S. television households, including ABC, CBS, NBC, FOX, CW and MyNetwork TV affiliates, and their associated Web sites, in 15 highly-attractive markets across the United States. Belo stations consistently deliver distinguished journalism for which they have received significant industry recognition including nine Alfred I. duPont-Columbia University Silver Baton Awards; nine George Foster Peabody Awards; and 23 national Edward R. Murrow Awards -- all since 2000, and in each case more than any other commercial station group in the nation. Nearly all Belo stations rank first or second in their local market. Belo owns stations in seven of the top 25 markets in the nation, with six stations located in the fast-growing, top-14 markets of Dallas/Fort Worth, Houston, Seattle/Tacoma and Phoenix. Additionally, the Company has created regional cable news channels in Texas and the Northwest increasing its impact in those regions. Additional information is available at http://www.belo.com/ or by contacting Paul Fry, vice president/Investor Relations & Corporate Communications, at 214-977-6835.

First Call Analyst: Paul Fry
FCMN Contact: mjanssen@belo.com

Source: Belo Corp.

CONTACT: Paul Fry, vice president-Investor Relations & Corporate
Communications of Belo Corp., +1-214-977-6835

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

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