Television Company Belo Corp. (BLC) Presents at UBS Global Media & Communications Conference
December 08 2009 - 8:30AM
PR Newswire (US)
DALLAS, Dec. 8 /PRNewswire-FirstCall/ -- Belo Corp. (NYSE:BLC), one
of the nation's largest pure-play, publicly-traded television
companies, presented today at the UBS Annual Global Media &
Communications Conference. During the presentation, Dunia A. Shive,
Belo's president and Chief Executive Officer, provided an update on
the fourth quarter of 2009 and general comments on 2010. Commenting
on the fourth quarter of 2009, Shive said, "Spot revenues excluding
political are currently pacing down in the low-single digits, a
significant improvement from the 16 percent decline in the third
quarter of 2009, with the month of December pacing up from a year
ago. The automotive category is currently pacing down around 10
percent, an improvement from third quarter's 36 percent decline. We
expect total revenue to be down in the mid-teens as the Company
cycles against $35.9 million of political revenue in the fourth
quarter of 2008. This percentage decline will be less than the
decline in the third quarter, and is an improvement from previous
guidance. We expect fourth quarter combined station and corporate
operating costs to be down in the mid-teens and interest expense
for the fourth quarter to be around $18 million. "Looking at the
full year, 2009 combined station and corporate operating costs are
expected to be down approximately 13 percent." Regarding Belo's
outlook for 2010, Shive said, "With an improving economy, the
Olympics on our NBC stations and a strong political season, we
expect to see revenue growth in 2010. Our approach to expenses next
year will be cautious and will be tied to the strength and
stabilization of the revenue environment. "Keep in mind that we
will have approximately $6.8 million in non-cash expense reductions
in 2010 related to the previously disclosed frequency relocation
project compared to $2.6 million in 2009. Capital expenditures for
2010 are expected to be approximately $15 million." 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 Corp. Belo Corp. (BLC) is one of
the nation's largest pure-play, publicly-traded television
companies, with 2008 annual revenue of $733 million. The Company
owns and operates 20 television stations (nine in the top 25
markets) and their associated Web sites. Belo stations, which
include affiliations with ABC, CBS, NBC, FOX, CW and MyNetwork TV,
reach more than 14 percent of U.S. television households in 15
highly-attractive markets. Belo stations rank first or second in
nearly all of their local markets. 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, revenues, expenses, dividends, capital expenditures,
investments, future financings, impairments, and 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 Company's spin-off
distribution of its newspaper businesses and related assets to A.
H. Belo Corporation and the associated agreements between the
Company and A. H. Belo relating to various matters; 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 national transition to digital television in June 2009, 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,
telecommunications 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/A. 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/
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