March 18, 2005

Belo's monthly revenue and statistical report February 2005

Dallas, TX -- Belo Corp. (NYSE: BLC) issued today its statistical report for the month of February. Newspaper Group revenues decreased 6.2 percent for the month of February versus February 2004, with advertising revenue down 6.6 percent. February 2005 included one less Sunday and one less day than February 2004. Adjusting for one less Sunday and one less day, Newspaper Group total revenue would have increased approximately 1.6 percent, with flat revenues at The Dallas Morning News, a decrease of 2.5 percent at The Providence Journal, and an increase of 12.1 percent at The Press-Enterprise in Riverside. Television Group revenues decreased 5.2 percent with a 5.5 percent decrease in spot revenue. Adjusting for the extra day in February 2004, TV Group revenue would have decreased approximately two percent. In addition, February 2004 included combined Super Bowl and political revenue of $3.9 million versus approximately $200,000 in combined Super Bowl and political revenue in February 2005.

February Newspaper Linage
At The Dallas Morning News, total revenue decreased 8.4 percent in February versus February of last year, with advertising revenue down 9.9 percent. Advertisers used approximately $1.8 million of advertising credits associated with the advertiser plan. Retail full-run ROP revenue decreased 16.7 percent with the most significant decreases noted in the department stores and furniture categories. Retail full-run ROP linage increased 9.4 percent. General full-run ROP revenue decreased 2.2 percent with increases in the telecom category offset by decreases in the travel and technology categories. General full-run ROP volume increased 21.2 percent. Classified revenue decreased 1.4 percent versus last February with an 8.6 percent increase in volume. On a like-days basis, classified revenue increased approximately 9.4 percent with a decrease in classified automotive of 8.7 percent and increases in classified employment revenue and classified real estate revenue of approximately 46.6 percent and 2.6 percent, respectively.

At The Providence Journal, total revenue decreased 10.5 percent in February versus February 2004 with a 9.9 percent decrease in advertising revenue. Total full-run ROP linage decreased 10.5 percent. Retail volumes decreased 19.5 percent while general and classified volumes increased 8.6 percent and 1.9 percent, respectively.

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 $1.5 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 Belo's business outlook or future economic performance, anticipated profitability, revenues, expenses, capital expenditures, investments, future financings or other financial and non-financial items 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 Dallas Morning News circulation matters, including current and future audits of the newspaper's circulation by the Audit Bureau of Circulations; technological changes, including the transition to digital television and the development of new systems to distribute television and other audio-visual content; development of Internet commerce; industry cycles; changes in pricing or other actions by competitors and suppliers; regulatory changes; adoption of new accounting standards or changes in existing accounting standards by the Financial Accounting Standards Board or other accounting standard-setting bodies or authorities; 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.

Monthly Revenue and Statistics