BLC Belo Corp.

DALLAS, July 28 /PRNewswire-FirstCall/ -- Belo Corp. (NYSE:BLC) said today that its Board of Directors declared a quarterly cash dividend of $0.125 for each outstanding share of Series A stock and Series B stock to be paid September 1, 2006, to shareholders of record on August 11, 2006. The dividend reflects a 25 percent increase in the quarterly cash dividend rate, as announced on May 9 at Belo's Annual Meeting of Shareholders. Robert W. Decherd, Belo's chairman, president and chief executive officer, said, "This significant dividend increase reflects Belo's focus on returning capital to shareholders and is consistent with the Company's capital allocation strategy, which is focused on shareholder value, strategic priorities and market realities." 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 7,700 employees and more than $1.5 billion in annual revenues, Belo operates in some of America's most dynamic markets in Texas, the Northwest, the Southwest, the Mid-Atlantic and Rhode Island. Belo owns 19 television stations, six of which are in the 15 largest U.S. broadcast markets. The Company also 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). The Company also publishes specialty publications targeting young adults, and the fast-growing Hispanic market, including Quick and Al Dia in Dallas/Fort Worth, and El D and La Prensa in Riverside. Belo operates more than 30 Web sites associated with its operating companies. Additional information is available at http://www.belo.com/ or by contacting Carey Hendrickson, vice president/Investor Relations & Corporate Communications, at 214-977-6626. DATASOURCE: 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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