June 17, 2004

Belo's monthly revenue and statistical report May 2004

Dallas, TX-- Belo Corp. (NYSE: BLC) issued today its statistical report for the month of May. Newspaper Group revenues increased 10.3 percent for the month of May with a 10.1 percent increase in advertising revenue. May 2004 included one more Sunday than May 2003. Adjusting for the extra Sunday and including online revenue, Newspaper Group total revenue would have increased approximately 4.7 percent, with an increase of 2.2 percent at The Dallas Morning News, 7.4 percent at The Providence Journal, and 11.3 percent at The Press-Enterprise in Riverside. Classified employment revenue for the Newspaper Group was up 20.8 percent on a comparable days basis and including online employment revenue. Television Group revenues increased 4.4 percent with a 4.7 percent increase in spot revenue. Political revenues were $2.6 million in May 2004 compared with $693,000 in May 2003.

May Newspaper Linage
At The Dallas Morning News, total revenue increased 8.5 percent in May with a 7.6 percent increase in advertising revenues. Retail full-run ROP revenue increased 1.0 percent with increases in the computers and sporting goods categories partially offset by decreases in the department stores and grocery categories. Retail full-run ROP linage decreased 2.9 percent. General full-run ROP revenue increased 21.1 percent with significant increases in the automotive and travel categories. General full-run ROP volume increased 15.7 percent. Classified revenue increased 8.4 percent versus last year with a 0.2 percent decrease in volume. Classified real estate revenue increased 18.6 percent while classified automotive revenue decreased 7.6 percent. Adjusting for the extra Sunday and including online revenue, classified real estate revenue increased 2.5 percent and classified automotive revenue decreased 9.3 percent. Employment revenues increased 36.7 percent in May with a 16.0 percent increase in linage. Adjusting for the extra Sunday and including online revenue, May employment revenues increased 19.4 percent. On a reported basis, preprints copies increased 12.3 percent versus last year.

At The Providence Journal, total revenue increased 14.2 percent in May with a 15.1 percent increase in advertising revenue. Total full-run ROP linage increased 6.1 percent. Classified volume increased 11.1 percent while retail volume decreased 2.2 percent. Linage in general, a relatively small category for The Providence Journal, increased 78.9 percent. Preprints copies increased 11.0 percent versus last year.

About Belo
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 7,900 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 15 markets) reaching 13.8 percent of U.S. television households; owns or operates 10 cable news channels; and manages one television station through a local marketing agreement. Belo's daily newspapers include 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 more than 30 Web sites, several interactive alliances and a broad range of Internet-based products. For more information, contact Carey Hendrickson, 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.

Belo's Monthly Revenue and Statistics