May 13, 2003
Belo elects board members at Annual Meeting of Shareholders
Dallas, TX --Belo Corp. (NYSE: BLC) announced today at its Annual Meeting of Shareholders that two new director nominees, France A. Crdova, Ph.D. and Wayne R. Sanders, were elected to the Company's Board of Directors. Crdova, as a Class I director, will serve a two-year term until the 2005 Annual Meeting, and Sanders, as a Class III director, will serve a one-year term until the 2004 Annual Meeting.
Shareholders also re-elected five Class II directors: Henry P. Becton, Jr., a director since 1997 and president of WGBH Educational Foundation; Roger A. Enrico, a director since 1995 and the former chairman and chief executive officer of PepsiCo, Inc.; Arturo Madrid, Ph.D., a director since 1994 and Murchison Distinguished Professor of the Humanities at Trinity University; William T. Solomon, a director since 1983 and chairman of the board of Austin Industries, Inc.; and Lloyd D. Ward, a director since 2001 and former chief executive officer and secretary general of the United States Olympic Committee.
John W. Bassett, Jr., a Class II director since 1979, retired from the Board at the Annual Meeting in conformity with the Board's retirement policy. Bassett, 65, is a partner in the Roswell, New Mexico law firm of Bassett & Copple, LLP.
Crdova, 55, became chancellor of the University of California, Riverside on July 1, 2002. A nationally recognized astrophysicist, she has served as professor of physics and vice chancellor for research at UC Santa Barbara, was Chief Scientist at NASA from 1993 to 1996, and headed the department of astronomy and astrophysics at Pennsylvania State University from 1989 to 1993. She is a winner of NASA's highest honor, the Distinguished Service Medal, and was recognized as a 2000 Kilby Laureate, a prestigious award honoring an individual for contributions to society through science, technology, innovation, invention and education.
Sanders, 55, is the former chairman and chief executive officer of Kimberly-Clark Corporation, headquartered in Dallas. He served as president and chief executive officer of Kimberly-Clark from 1991 until September 2002 and as chairman of the board from 1992 until February 2003. During Sanders' tenure as chief executive officer, he completed the transformation of Kimberly-Clark into one of the world's leading consumer products companies. The company experienced significant growth, with revenues, including the impact of acquisitions and mergers, more than doubling from $6.8 billion in 1991 to $14.5 billion in 2001.
In his remarks at the Annual Meeting, Robert W. Decherd, chairman, president and chief executive officer, reviewed Belo's performance and journalistic accomplishments in 2002.
Decherd highlighted the efforts of Belo reporters and photographers who were overseas to cover the war in Iraq. A replay of the meeting will be available online for 30 days beginning today at 1 p.m. CDT on the Investor Relations section of Belo's Web site at www.belo.com.
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 nine 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. For more information, contact Scott Baradell, vice president/Corporate Communications, at 214-977-2067. Additional information, including earnings releases, is available online at www.belo.com.