November 19, 2004

Belo's monthly revenue and statistical report October 2004

Dallas, TX -- Belo Corp. (NYSE: BLC) issued today its statistical report for the month of October. Newspaper Group revenues increased 7.1 percent for the month of October with a 6.7 percent increase in advertising revenue. October 2004 includes one more Saturday and Sunday than October 2003. Adjusting for the extra Saturday and Sunday, and including online revenue, Newspaper Group total revenue would have increased approximately 1.4 percent, with a decrease of 4.1 percent at The Dallas Morning News, an increase of 7.1 percent at The Providence Journal, and an increase of 15.4 percent at The Press-Enterprise in Riverside. Television Group revenues increased 27.6 percent with a 28.9 percent increase in spot revenue. Political revenues were $25.4 million in October 2004 compared with $2.8 million in October 2003.

October Newspaper Linage
At The Dallas Morning News, total revenue increased 1.4 percent on a reported basis in October, with advertising revenue coming in flat. Advertisers used approximately $1.6 million of advertising credits associated with the advertiser compensation plan. Retail full-run ROP revenue decreased 7.9 percent with increases in the automotive and computers categories more than offset by decreases in the grocery and department stores categories. Retail full-run ROP linage decreased 4.2 percent. General full-run ROP revenue increased 2.1 with the most significant increases noted in the telecom and professional services categories. General full-run ROP volume increased 8.9 percent. Classified revenue increased 1.9 percent versus last year with a 0.3 percent decrease in volume. On a like-days basis and including online revenue, classified revenue decreased approximately 8.2 percent with increases in classified real estate and employment revenues of approximately 7.2 percent and 1.7 percent, respectively, and a decrease in classified automotive revenue of approximately 26.4 percent.

At The Providence Journal, total revenue increased 14.7 percent in October with a 15.6 percent increase in advertising revenue. Total full-run ROP linage increased 1.2 percent. General and classified volume increased 26.7 percent and 13.8 percent, respectively, while retail volume decreased 7.8 percent.

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 . For more information contact Carey Hendrickson, vice president/Investor Relations & Corporate Communications, at 214-977-6626.

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 other factors include, but are not limited to, changes in advertising demand, interest rates and newsprint prices; the current audit by the Audit Bureau of Circulations of The Dallas Morning News' circulation; 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, including the Annual Report on Form 10-K.

Belo's monthly revenue and statistics