February 8, 2002
McCarthy announces plans to retire from Belo
Dallas, TX-- Michael J. McCarthy, Belo's senior executive vice president and a member of the Company's five-person Management Committee, announced that he plans to retire as an executive officer in October 2002.
McCarthy, 57, said he is considering a range of choices, including some that would continue his relationship with Belo. "I'm very fortunate to have worked over the last 16 years with a group of extraordinarily talented Belo executives, led by
Robert Decherd," he said. "During this time, the Company has become not only a substantially larger company but it has also grown in stature, both in the media industry and in the communities we serve across the country. It's a great time for me to be leaving because Belo is in strong condition, and I'm eager to
pursue different challenges and interests both here and in Washington, D.C., where Monica and I spent many happy years."
Decherd, Belo's chairman, president and chief executive officer, said, "Mike's leadership on so many corporate, legal and business matters has been invaluable to Belo and to me personally since Mike joined our team in 1985. Equally important, his genuineness, good spirit and collegiality have had a deep influence on executives, managers and employees at every level of the Company. Most recently, Mike has distinguished himself as one of the country's experts on the digital television
transition, which is so important for Belo and other television
broadcasters. Mike's expertise and experience have been extremely important to me throughout my tenure as CEO."
McCarthy became Belo's first vice president, general counsel and secretary in October 1985. He was promoted to senior vice president, general counsel and secretary in January 1986, and assumed the title of executive vice president/general counsel in July 1998. In July 2000, McCarthy was promoted to senior executive vice president. Since joining Belo, McCarthy has served on the Company's Management Committee.
During McCarthy's tenure at Belo, he has represented Belo's interests before the FCC and Congress on a host of telecommunications matters, such as proposed regulations or legislation concerning cable television retransmission, the digital television transition,
television spectrum auctions, television broadcast multiple and cross-ownership, the 1996 Telecommunications Act, satellite local broadcasting,
campaign finance reform and television public interest programming. McCarthy is in his 30th year of working on media/telecommunications business and policy issues.
McCarthy is on the board of directors and executive committee of the National Association of Broadcasters and the board of directors of The Association for Maximum Service Television and The Media Institute. McCarthy served as chairman of the NAB's Digital Television Transition Task Force in 2000 and 2001.
A native of Davenport, Iowa, McCarthy was born in 1944 and graduated from Notre Dame University in 1966. Two years later, he earned a master's degree from the London School of Economics and, in 1973, received a J.D. degree with honors, as a night student, from George Washington University Law School.
McCarthy began his career in 1968 as an economist/speechwriter for members of Congress at the Congressional Research Service in the Library of Congress in Washington, D.C.. In 1972 and 1973, McCarthy worked as a speechwriter for Clay T. Whitehead, an assistant to President Nixon and the Director of the Office of Telecommunications Policy in the Executive Office of the President of the United States.
While at OTP, McCarthy worked on, among other telecommunications matters, the Nixon Administration's domestic satellite, spectrum management and broadcast and cable television policies.
In 1973, McCarthy became an associate of Dow, Lohnes & Albertson law firm in Washington, D.C., where he specialized in
FCC/media regulatory and legislative law. McCarthy later became a partner at the firm.
Belo (NYSE: BLC) 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 $1.4 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 18 television stations (six in the
top 16 markets) reaching 13.9 percent of U. S. television households; owns or operates six cable news channels; and manages two television stations through local marketing agreements. Belo publishes four daily newspapers: The Dallas Morning News, The Providence
Journal, The Press-Enterprise (Riverside, Calif.) and the Denton Record-Chronicle (Denton, Texas). 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. For more information, contact Scott Baradell, Belo's vice president/Corporate Communications, at 214-977-2067.