Belo Presents at Bear Stearns 21st Annual Media Conference
March 11 2008 - 12:00PM
PR Newswire (US)
DALLAS, March 11 /PRNewswire-FirstCall/ -- Belo Corp. (NYSE:BLC)
presented today at the Bear Stearns 21st Annual Media Conference
held in Palm Beach, Florida. During the presentation Dunia Shive,
Belo's president and Chief Executive Officer, and Dennis
Williamson, Belo's executive vice president and Chief Financial
Officer, provided a brief overview of the Company's strategy as a
pure-play television business. Discussing first quarter, Shive
said, "While we will likely finish first quarter with approximately
$5 million in political revenue, we've also experienced softness in
certain major categories, most notably automotive, which offset the
increase in political. In addition, we aired the Super Bowl on our
single FOX affiliate in the first quarter of 2008 versus our five
CBS affiliates in the first quarter of 2007. Total revenues for
first quarter 2008 are currently pacing down low-single digits."
Shive also said full year revenue will depend upon the strength of
political revenue in the Company's markets and, importantly, the
stability of the economy. The Company also expects Internet revenue
growth to be less than the rate experienced in 2007 but still up
strong double-digits. The full text of the presentation and a
replay of the Webcast are available on Belo's Web site on the
Investor Relations page at http://www.belo.com/. About Belo 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; eight George Foster Peabody Awards; and 19
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 leveraged its local television assets
to create 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. Statements in this communication concerning Belo's
business outlook or future economic performance, anticipated
profitability, revenue, expenses, dividends, 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 factors include, but are not limited to,
uncertainties regarding the costs, consequences (including tax
consequences) and other effects of the distribution of the
newspaper businesses and related assets of Belo; changes in capital
market conditions and prospects, and other factors such as changes
in advertising demand, interest rates and programming and
production costs; changes in viewership patterns and demography,
and actions by Nielsen; changes in the network-affiliate business
model for broadcast television; technological changes, including
the transition to digital television and the development of new
systems to distribute television and other audio-visual content;
changes in the ability to secure, and in the terms of, carriage of
Belo programming on cable, satellite and other program distribution
methods; development of Internet commerce; industry cycles; changes
in pricing or other actions by competitors and suppliers; Federal
Communications Commission and other regulatory, tax and legal
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, dispositions and co-owned
ventures; general economic conditions; and significant armed
conflict, as well as other risks detailed in Belo's other public
disclosures and filings with the SEC including Belo's Annual Report
on Form 10-K. DATASOURCE: Belo Corp. CONTACT: Paul Fry, vice
president, Investor Relations & Corporate Communications of
Belo Corp., +1-214-977-6835 Web site: http://www.belo.com/
Copyright
Belo (NYSE:BLC)
Historical Stock Chart
From May 2024 to Jun 2024
Belo (NYSE:BLC)
Historical Stock Chart
From Jun 2023 to Jun 2024