FORM 4
[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
                                                                                  
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public
Utility Holding Company Act of 1935 or Section 30(f) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

MORONEY JAMES M III 		2. Issuer Name and Ticker or Trading Symbol

BELO CORP [ BLC ] 		5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

__ X __ Director                      _____ 10% Owner
_____ Officer (give title below)      _____ Other (specify below)
(Last)          (First)          (Middle)

BELO CORP., P.O. BOX 655237 		3. Date of Earliest Transaction (MM/DD/YYYY)

5/13/2008
(Street)

DALLAS, TX 75265-5237
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
6. Individual or Joint/Group Filing (Check Applicable Line)

_ X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3) 		2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. Code
(Instr. 8) 		4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) 		5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4) 		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Series A Common Stock                  46889   D    
Series A Common Stock                  33950   I   By Father's Estate   (1)
Series A Common Stock                  4800   I   By Spouse   (2)
Series A Common Stock                  51995   I   By Family LP   (3)
Series A Common Stock                  4909   I   By 401(k) Account   (4)
Series B Common Stock                  28628   D    
Series B Common Stock                  264700   I   By Father's Estate   (1)
Series B Common Stock                  1600   I   By Spouse   (2)
Series B Common Stock                  52100   I   By Marital LP   (5)
Series B Common Stock                  2350277   I   By Family LP   (3)

Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3) 		2. Conversion or Exercise Price of Derivative Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. Trans. Code
(Instr. 8) 		5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) 		6. Date Exercisable and Expiration Date 7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4) 		8. Price of Derivative Security
(Instr. 5) 		9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Director Stock Options (Right to Buy)   (5) $10.20   5/13/2008     A     18716       5/8/2008   5/8/2018   Series B CommonStock   18716   $0   18716   D    
Restricted Stock Units (Time-Based)     (6) 5/13/2008     A     3431         (7)   (7) Series A Common Stock   3431   (6) $0   3431   D    
Director Stock Options (Right to Buy)   $23.375                     (8) 5/12/2009   Series B Common Stock   9825     9825   I   By Father's Estate   (1)

Explanation of Responses:
( 1)  The reporting person is the executor of the Estate of James M. Moroney, Jr. that owns the reported securities. The reporting person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.
( 2)  The reporting person disclaims beneficial ownership of these securities.
( 3)  The reporting person is the managing general partner of the family partnership that owns the reported securities. The reporting person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.
( 4)  Held by the Belo Savings Plan as of April 30, 2008.
( 5)  Shares are held by a limited partnership of which the reporting person is a general partner and of which the reporting person's spouse is a limited partner and a general partner.
( 6)  Each time-based restricted stock unit (RSU) represents a contingent right to receive the value of one share of Belo Series A Common Stock. RSUs are payable in the form of 60% in shares of Belo Series A Common Stock and 40% in cash, valued as of the date of settlement.
( 7)  The RSUs vest 100% on the date of the 2009 annual meeting of shareholders and are settled within 10 business days following the 2011 annual meeting of shareholders.
( 8)  All options are currently exercisable.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
MORONEY JAMES M III
BELO CORP.
P.O. BOX 655237
DALLAS, TX 75265-5237 		X



Signatures
Kay F. Stockler, Attorney-In-Fact 5/15/2008
** Signature of Reporting Person Date


Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.
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