June 19, 2003

Belo's monthly Revenue and Statistical Report May 2003

Dallas, TX-- Belo Corp. (NYSE: BLC) issued today its statistical report for the month of May. Newspaper Group revenue increased 2.2 percent in May while Television Group revenue decreased 1.1 percent. In May 2002, Belo's Television Group recorded $2.7 million in political revenues.

May Newspaper Linage
At The Dallas Morning News, total revenue increased 1.3 percent in May. Retail full-run ROP revenue was up 1.9 percent with a 6.3 percent decrease in retail full-run ROP volume. Department store revenue was down 14.1 percent, while all other retail was up 5.7 percent with strength in the furniture, automotive and entertainment categories. General full-run ROP revenue increased 13.3 percent with significant increases in the financial, telecom and automotive categories. General full-run ROP volume increased 9.7 percent. Classified revenue was down 2.1 percent with a 3.4 percent decrease in volume. Help wanted volumes were down about 28 percent in May on a comparable basis with a decrease in classified employment revenue of 31.0 percent. Classified automotive and real estate revenues were up 9.7 percent and 13.8 percent, respectively. The extra Saturday in May 2003 compared to May 2002 contributed to the increase in classified automotive.

At The Providence Journal, total full-run advertising linage, including preprints and supplements, increased 12.0 percent, and total full-run ROP linage was flat. Retail, general and classified volumes, including preprints, were up 14.8 percent, 0.1 percent and 8.9 percent, respectively.

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 nine cable news channels; and manages one television station through a local marketing agreement. Belo publishes four daily newspapers: The DallasMorning 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 Carey Hendrickson, vice president of investor relations, at 214-977-6606. Additional information, including earnings releases, is available online at www.belo.com.

Statements in this communication concerning the Company's business outlook or future economic performance, anticipated profitability, revenues, expenses, capital expenditures, investments, commitments, 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.

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