August 20, 2003

Belo's monthly Revenue and Statistical Report July 2003

Dallas, TX-- Belo Corp. (NYSE: BLC) issued today its statistical report for the month of July. Newspaper Group revenue increased 3.7 percent in July while Television Group revenue increased 0.4 percent. In July 2002, Belo's Television Group recorded $1.8 million in political revenues. Excluding political revenues, Television Group spot revenues increased 3.7 percent.

July Newspaper Linage
At The Dallas Morning News, total revenue increased 3.7 percent in July. Retail full-run ROP revenue decreased 3.6 percent with the most significant decreases in the entertainment and automotive categories. Retail full-run ROP volume decreased 14.3 percent. General full-run ROP revenue increased 35.8 percent with significant increases in the telecom, technology and travel categories. General full-run ROP volume increased 29.8 percent. Classified revenue was down 4.5 percent with a 2.8 percent decrease in volume. Help wanted volumes were down about 32 percent in July with a decrease in classified employment revenue of about 25 percent. Classified automotive revenue was up 5.1 percent and real estate revenue was up 8.6 percent.

At The Providence Journal, total full-run advertising linage, including preprints and supplements, increased 21.2 percent, and total full-run ROP linage increased 4.8 percent. Retail and classified volumes, including preprints, were up 26.8 percent and 12.3 percent, respectively. General volume was down 4.7 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 nine cable news channels; and manages one television station through a local marketing agreement. Belo publishes four daily newspapers: Journal, The Press-Enterprise The Dallas Morning News, The Providence (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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