October 22, 2003

Belo's monthly revenue and statistical report September 2003

Dallas, TX -- Belo Corp. (NYSE: BLC) issued today its statistical report for the month of September. Newspaper Group revenue decreased 4.2 percent in September while Television Group revenue increased 5.2 percent. September 2003 included one less Sunday than September 2002. Adjusting for the extra Sunday in September 2002, Newspaper Group total revenue would have increased approximately 2.1 percent with an increase in advertising revenue of approximately 2.0 percent. In September 2002, Belo's Television Group recorded $5.9 million in political revenues. Excluding political revenues, Television Group spot revenues increased 13.1 percent.

September Newspaper Linage
At The Dallas Morning News, total revenue decreased 5.9 percent in September. Adjusting for the extra Sunday in September 2002, total revenue increased about one percent. Retail full-run ROP revenue decreased 10.0 percent with the most significant decreases in the furniture and department stores categories. Retail full-run ROP volume decreased 14.2 percent. General full-run ROP revenue increased 0.5 percent with the most significant increases in the automotive, financial and technology categories and decreases in telecom and travel. General full-run ROP volume decreased 3.7 percent. Classified revenue decreased 12.2 percent versus last year with an 8.2 percent decrease in volume. Help wanted volumes were down about 29 percent in September. Adjusting for the extra Sunday, help wanted volumes were down about 20 percent with a decrease in classified employment revenue of 20 percent. Classified automotive revenue was down 4.5 percent and real estate revenue was down 3.5 percent.

At The Providence Journal, total full-run advertising linage, including preprints and supplements, increased 20.3 percent, and total full-run ROP linage increased 3.4 percent. Retail and classified volumes, including preprints, were up 25.1 percent and 16.4 percent, respectively. General volumes, including preprints, were down 2.1 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: 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, 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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