December 18, 2002
Belo's monthly Revenue and Statistical Report November 2002; Belo Management Presents at Providence Society of Financial Analysts
Dallas, TX --Belo Corp. (NYSE: BLC) issued today its statistical report for the month of November. Television Group revenue increased 13.3 percent for the month of November with a 14.2 percent increase in spot revenue. Belo's Television Group generated $5.9 million of political revenue in November 2002. Newspaper Group total revenue increased 8.5 percent with a 10.2 percent increase in advertising revenue.
November Newspaper Linage
At The Dallas Morning News, total advertising revenue increased 11.4 percent in November, with a 3.4 percent increase in total full-run advertising linage, including preprints and supplements. Retail full-run ROP revenue was flat with a 0.6 percent increase in full-run ROP volume. Increases in the furniture and entertainment categories were offset by a decrease in department stores. A significant increase in telecom advertising led to an increase in general full-run ROP revenue of 15.4 percent. General full-run ROP volume declined 1.3 percent.
Classified revenue was up 8.3 percent with a 0.7 percent increase in volume. Adjusting November for like days, including appropriate Thanksgiving weekend comparisons, help wanted volumes were down 30 percent in November. Classified employment revenue decreased 3.3 percent on a non-adjusted basis. Classified automotive revenue was up 17.6 percent and classified real estate revenue increased 5.4 percent. Preprints and TMC revenue increased 25.8 percent over last year.
At The Providence Journal, total full-run advertising linage, including preprints and supplements, decreased 1.5 percent, and total full-run ROP decreased 3.7 percent. General and classified volumes, including preprints, were down 7.7 percent and 9.7 percent, respectively. Retail volume, including preprints, increased 0.7 percent.
At The Press-Enterprise, total full-run advertising linage, including preprints and supplements, increased 3.0 percent, while total full-run ROP was up 5.1 percent. General and classified volumes, including preprints, increased 16.2 percent and 9.5 percent, respectively. Retail volume, including preprints, decreased 3.8 percent.
Belo Management Presents at Providence Society of Financial Analysts Belo senior management presented at the Providence Society of Financial Analysts monthly meeting today, discussing the Company's business strategies and confirming the fourth quarter 2002 and full-year 2003 guidance provided to the investment community at the Media Week conferences in New York last week.
Additional information on Belo and its outlook for 2002 and 2003 is available online at www.belo.com, including the full text of the December Media Week presentations.
Belo is one of the nation's largest media companies with a diversified group of market-leading television, newspaper, cable and interactive media assets. A Fortune 1000 company with approximately 7,800 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 19 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 one television station through a local marketing agreement. 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.
Statements in this communication concerning the Company's business outlook or future economic performance, anticipated profitability, revenues, expenses, capital expenditures, investments or other financial or operating items and other statements 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, changes in advertising demand, interest rates and newsprint prices; technological changes; development of Internet commerce; industry cycles; changes in pricing or other actions by competitors and suppliers; regulatory changes; the effects of Company acquisitions and dispositions; general economic conditions; and significant armed conflict, as well as other risks detailed in the Company's filings with the Securities and Exchange Commission ("SEC"), including the Annual Report on Form 10-K.
For more information, contact Carey Hendrickson, vice president of investor relations, at 214-977-6606. Additional information, including earnings releases, is available online at www.belo.com.