August 5, 2003
Belo discusses the launch of its Spanish-Language Newspaper, Al Dia
Dallas, TX -- Belo Corp. (NYSE: BLC) issued a statement today on the Company's plan to launch a daily Spanish-language newspaper in Dallas/Fort Worth.
Jim Moroney, publisher and chief executive officer of The Dallas Morning News, said, "There are more than one million Hispanic residents in North Texas and we are eager to provide them with timely, in-depth local news coverage of issues and events affecting their communities. Al Dia will be an entirely new publication, separate and distinct from The Dallas Morning News; however, we will be able to leverage the infrastructure of The Dallas Morning News to produce Al Dia at a fraction of what it would otherwise cost. We expect our net operating investment in Al Dia to be less than four million dollars over the next eighteen months."
As previously announced on June 26, 2003, Al Dia is scheduled to launch in the fourth quarter of 2003.
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 Carey Hendrickson, Belo's vice president/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.