Belo Chairman Effects Stock Transactions
February 23 2007 - 10:00AM
PR Newswire (US)
DALLAS, Feb. 23 /PRNewswire-FirstCall/ -- Belo Corp. (NYSE:BLC)
said today that Robert W. Decherd, the Company's chairman,
president and chief executive officer, effected several
transactions involving Belo common stock for charitable and tax
planning purposes this week. Mr. Decherd and his wife, Maureen,
contributed 60,688 shares of Belo Series A common stock to The
Dallas Foundation, an independent charitable foundation, in a
donor-advised fund that will benefit various educational and civic
institutions. Mr. and Mrs. Decherd personally sold 60,754 Series A
shares in the open market to diversify their personal investment
portfolio and take full tax advantage of their gift to The Dallas
Foundation. The Decherd Foundation, a charitable foundation created
by the Decherds in 1993, sold 53,000 shares of Belo Series A common
stock in the open market to diversify its investment portfolio and
create flexibility for the charitable purposes of the foundation.
As a result of these transactions, Mr. Decherd beneficially owns
85,785 shares of Series A common stock and 8,337,836 shares of
Series B common stock, as calculated in accordance with applicable
federal securities laws, representing approximately 8.1 percent of
the combined outstanding Series A and Series B common stock. 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 7,100
employees and $1.6 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,
+1-214-977-6626 Web site: http://www.belo.com/
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