February 20, 2003

Belo's monthly Revenue and Statistical Report January 2003

Dallas, TX --Belo Corp. (NYSE: BLC) issued today its statistical report for the month of January. Television Group revenue increased 12.0 percent for the month of January with a 12.7 percent increase in spot revenue.

Newspaper Group total revenue increased 2.8 percent with a 3.8 percent increase in advertising revenue.

January Newspaper Linage
At The Dallas Morning News, total advertising revenue increased 4.3 percent in January, with a 3.2 percent decrease in total full-run advertising linage, including preprints and supplements. Retail full-run ROP revenue was up 9.3 percent with a 5.9 percent increase in full-run ROP volume.

The most significant increases were in the furniture, entertainment and professional services categories. A significant increase in financial advertising led to an increase in general full-run ROP revenue of 8.7 percent.

General full-run ROP volume increased 11.4 percent. Classified revenue was down 3.6 percent with a 1.5 percent increase in volume. Help wanted volumes were down about 29 percent in January with a decrease in classified employment revenue of 24 percent. Classified automotive revenue was up 1.4 percent and classified real estate revenue increased 13.2 percent. Preprints and TMC revenue increased 9.6 percent over last year.

At The Providence Journal, total full-run advertising linage, including preprints and supplements, decreased 1.8 percent, and total full-run ROP decreased 4.0 percent. Retail volume increased 0.7 percent.

General and classified volumes, including preprints, were down 2.3 percent and 9.4 percent, respectively.

At The Press-Enterprise, total full-run advertising linage, including preprints and supplements, decreased 1.8 percent, while total full-run ROP was down 2.9 percent. Retail and classified volumes, including preprints, decreased 3.3 percent and 3.5 percent, respectively. General volume increased 5.8 percent.

About Belo
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 13.7 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.