November 16, 2004

Belo signs letter of intent to form strategic alliance with KFWD-TV in Dallas/Fort Worth

Dallas, TX -- Belo Corp. (NYSE: BLC) announced today that it has signed a letter of intent to form a strategic alliance with HIC Broadcasting, Inc., the owner and operator of KFWD-TV, Channel 52, licensed to Fort Worth, Texas.

As part of this alliance, WFAA-TV, Belo's ABC-affiliated television station in Dallas/Fort Worth, will provide advertising sales assistance, certain technical services and facilities to support the operations of KFWD. In addition, WFAA will provide limited programming to KFWD. The letter of intent also gives Belo an option to acquire the assets of KFWD if certain Federal Communications Commission regulations are revised.

The letter of intent is non-binding and subject to final definitive agreements. For more information contact Carey Hendrickson, vice president/Investor Relations & Corporate Communications, at 214-977-6626.

About HIC Broadcasting, Inc.

HIC Broadcasting, Inc. is a minority-owned television broadcasting company that has operated in the Dallas/Fort Worth market since 1988. Roland Hernandez, the President of HIC Broadcasting, Inc., has a long and distinguished career in television broadcasting. Mr. Hernandez was formerly the Chief Executive Officer and Chairman of the Board of Directors of Telemundo Group, Inc., the Spanish-language television station company. HIC Broadcasting, Inc. and KFWD will continue to proudly serve the Dallas/Fort Worth community.

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 7,600 employees and $1.4 billion in annual revenues, Belo operates media franchises in some of America's most dynamic markets and regions, including Texas, the Northwest, the Southwest, Rhode Island, and the Mid-Atlantic. Belo owns 19 television stations (six in the top 15 markets); owns or operates seven cable news channels; and manages one television station through a local marketing agreement. Belo's daily newspapers are The Dallas Morning News, The Providence Journal, The Press-Enterprise (Riverside, CA) and the Denton Record-Chronicle (Denton, TX). Belo operates more than 30 Web sites, several interactive alliances and a broad range of Internet-based products. Additional information, including earnings releases and corporate communications, is available online at www.belo.com.