Belo to Discontinue Monthly Reports
February 28 2007 - 1:02PM
PR Newswire (US)
DALLAS, Feb. 28 /PRNewswire-FirstCall/ -- Belo Corp. (NYSE:BLC)
said today that the Company is discontinuing its practice of
providing monthly revenue and statistical information. The Company
noted on its recent year-end 2006 conference call that it was
carefully considering the value of providing monthly reports from a
shareholder perspective. Robert W. Decherd, the Company's chairman,
president and chief executive officer, said, "Our interests are in
informing our shareholders of meaningful financial patterns.
Increasingly, a single month's revenue performance is not a
reliable indicator of quarterly advertising trends. "In making this
decision, we also considered the composition of the Company's
revenue and EBITDA. The segment EBITDA of Belo's Television Group
represented two-thirds of the Company's combined Newspaper Group
and Television Group segment EBITDA in 2006, and quarterly reports
are the industry standard for our pure-play television peers. We
also considered the practices of our newspaper and mixed publishing
and broadcasting peers that rely on quarterly results to inform
investors. "Regardless of the frequency with which we issue
financial data, our aim is to provide the investment community with
valuable information that offers meaningful insight into Belo's
operating trends." 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 20 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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