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 *

DECHERD ROBERT W 		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)

2/5/2009
(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   2/5/2009     M    59500   (1) A   (2) 89602   D    
Series A Common Stock   2/5/2009     S (3)    23800   (3) D $1.4   65802   D    
Series A Common Stock   2/5/2009     M    16346   (4) A   (2) 82148   D    
Series A Common Stock   2/5/2009     S (3)    6539   (3) D $1.4   75609   D    
Series A Common Stock   2/5/2009     M    17480   (5) A   (2) 93089   D    
Series A Common Stock   2/5/2009     S (3)    6992   (3) D $1.4   86097   D    
Series A Common Stock                  1200   I   By Spouse   (6)
Series A Common Stock                  5468   I   By 401k Account   (7)

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
Restricted Stock Units (Time-Based)   (8)   (2) 2/5/2009     M        59500      (9)   (9) Series A Common Stock   59500   (2) $0   0   D    
Restricted Stock Units (Performance-Related)   (10)   (2) 2/5/2009     M        16346      (11)   (11) Series A Common Stock   16346   (2) $0   0   D    
Restricted Stock Units (Performance-Related)   (12)   (2) 2/5/2009     M        17480      (13)   (13) Series A Common Stock   17480   (2) $0   17480   D    

Explanation of Responses:
( 1)  The number of shares shown represents the time-based restricted stock units (TBRSUs) that vested and were paid on February 5, 2009. These TBRSUs were awarded on February 28, 2006.
( 2)  Each restricted stock unit (RSU) represents a contingent right to receive the value of one share of Belo Corp. Series A Common Stock. RSUs (both performance-related and time-based) are valued as of the date of vesting and are paid 60% in shares of Belo Corp. Series A Common Stock and 40% in cash.
( 3)  The number of shares shown represents settlement of the 40% cash portion of RSUs that vested and were paid on February 5, 2009. Settlement of the cash portion is, pursuant to SEC guidance, deemed to be a sale of shares to the Company.
( 4)  The number of shares shown represents the portion of the December 2005 performance-related restricted stock units (PBRSUs) that vested and were paid on February 5, 2009. These PBRSUs were awarded in December 2005, as described below in footnote 10.
( 5)  The number of shares shown represents the portion of the December 2006 PBRSUs that vested and were paid on February 5, 2009. These PBRSUs were awarded in December 2006, as described below in footnote 12.
( 6)  The reporting person disclaims beneficial ownership of these securities.
( 7)  Held by the Belo Savings Plan as of January 31, 2009.
( 8)  These TBRSUs were awarded on February 28, 2006.
( 9)  This TBRSU award vests 100% and is paid out as soon as practicable following the annual earnings release date for the fiscal year ending December 31, 2008.
( 10)  These PBRSUs were awarded in December 2005. The actual number of PBRSUs earned was determined on February 27, 2007.
( 11)  One-third of the original PBRSU award vests and is paid out as soon as practicable following each annual earnings release date for the fiscal years ending December 31, 2006, 2007 and 2008.
( 12)  These PBRSUs were awarded in December 2006. The actual number of PBRSUs earned was determined on February 26, 2008
( 13)  One-third of the original PBRSU award vests and is paid out as soon as practicable following each annual earnings release date for the fiscal years ending December 31, 2007, 2008 and 2009. Earned PBRSUs not yet paid are subject to additional vesting requirements that depend on the continued employment of the reporting person with the Company.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
DECHERD ROBERT W
BELO CORP.
P.O. BOX 655237
DALLAS, TX 75265-5237 		X



Signatures
Kay F. Stockler, Attorney-In-Fact 2/9/2009
** 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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