January 25, 2001
Belo to purchase KTTU-TV in Tucson, Arizona
Dallas, TX -- Belo(NYSE: BLC) announced today that it has agreed to purchase KTTU-TV, the UPN affiliate in the Tucson, Arizona television market, for $18 million in cash, subject to FCC approval. Belo currently operates KTTU under a local marketing agreement with Clear Channel Communications, Inc.
Belo is one of the nation's largest media companies with a diversified group of market -leading broadcasting, publishing, cable and interactive media assets. A Fortune 1000 company with more than 8,000 employees and $1.5 billion in annual revenues, Belo operates news and information franchises in some of America's most dynamic markets and regions, including Texas, the Northwest, the Southwest, Rhode Island, and the Mid-Atlantic region. Belo owns 17 television stations (six in the top 17 markets) reaching 13.7 percent of U.S. television households; owns or operates six cable news channels; and manages three television stations through local marketing agreements. Belo publishes four daily newspapers: The Dallas Morning News, The Providence Journal, The Press-Enterprise (Riverside, CA.) and the Denton Record-Chronicle (Denton, TX.). Belo Interactive's new media businesses include 34 Web sites, several interactive alliances, and a broad range of Internet-based products. Additional information, including earnings releases, is available online at www.belo.com.