June 3, 2003
Belo chairman comments on FCC Ruling on Media Ownership
Dallas, TX --Belo Corp. (NYSE: BLC) today released the following statement by Robert W. Decherd, chairman, president and chief executive officer:
"Belo commends the Federal Communications Commission for its decision, released Monday, to modify its existing restrictions on media ownership. Chairman Powell especially, as well as Commissioners Abernathy and Martin, deserve great credit for seeing this rulemaking through to its conclusion. The much-anticipated FCC order properly relaxes several of the agency's long-outdated restrictions on the number of broadcast and/or daily newspapers that can be owned by a single company in individual markets and nationwide.
"The decision provides needed clarity and certainty to the marketplace. Broadcasters and publishers are now able to take advantage of operating efficiencies and synergies that facilitate their ability to provide local communities with enhanced news, information, and other public interest content. The relaxation of current restrictions also places broadcasters on a more level playing field with multimedia competitors, thereby ensuring the continued vitality of free, over-the-air broadcasting services to the American public.
"Equally important, the conclusion of this rulemaking frees the Commission to take on other critical issues, such as completing the transition to digital television, including essential must-carry rules."
About Belo Corp
Belo Corp. 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.