December 19, 2005
Belo's monthly revenue and statistical report November 2005
Dallas, TX -- Belo Corp. (NYSE: BLC) issued today its statistical report for the month of November. Consolidated revenue for November increased 3.5 percent versus November of last year with increases in the Newspaper Group and the Television Group.
Newspaper Group total revenue increased seven percent for the month of November versus the prior year, with a 6.6 percent increase in advertising revenue. Total advertising revenue increased 6.5 percent at The Dallas Morning News, 9.7 percent at The Providence Journal, and 3.5 percent at The Press-Enterprise in Riverside.
Television Group revenues increased 0.4 percent in November versus the prior year with spot revenue down 1.1 percent. Local spot revenues increased five percent while national spot revenues decreased four percent. Political revenue in November 2005 was $1.2 million versus $2.9 million in November of last year. Excluding political revenue, Television Group revenue would have increased 3.2 percent in November.
At The Dallas Morning News, total revenue increased 9.2 percent in November versus last year, including $2.1 million in incremental circulation revenue associated with the implementation of the Circulation Review Team's recommended changes at The Dallas Morning News, primarily the move from a buy-sell arrangement to a fee-for-delivery distribution system. Advertising revenues, which were not affected by the incremental circulation revenue, increased 6.5 percent in November 2005 versus November 2004. The increase at The Dallas Morning News was fueled by a 15 percent increase in classified revenue versus the prior year. Increases were noted in all three of the major classified categories with employment up 36 percent, automotive up 10 percent and real estate up 7.5 percent. Retail full-run ROP revenue decreased 5.6 percent with increases in the real estate and department stores categories offset by decreases in the furniture and sporting goods categories. General full-run ROP revenue decreased 10 percent with decreases in the telecom and professional services categories.
At The Providence Journal, advertising revenue increased 9.7 percent in November versus November 2004 with total revenue up six percent. Classified revenue increased 21 percent in November led by strong classified real estate and classified automotive advertising, which were up 33 percent and 21 percent, respectively.
At The Press-Enterprise, advertising revenues increased 3.5 percent in November versus November 2004 with total revenue up one percent. Gains in classified and general were partially offset by a decrease in retail. Classified real estate revenue continues to grow at an impressive rate at The Press-Enterprise, increasing 19 percent in November.
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 7,600 employees and $1.5 billion in annual revenues, Belo operates in some of America's most dynamic markets in Texas, the Northwest, the Southwest, Rhode Island, and the Mid-Atlantic. Belo owns 19 television stations, six of which are in the 15 largest U.S. broadcast markets. The Company also 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). The Company also publishes specialty publications targeting young adults, affluent populations and the fast-growing Hispanic market, including Quick and Al Dia in Dallas/Fort Worth, and the d, El D and La Prensa in Riverside. Belo operates more than 30 Web sites associated with its operating companies. Additional information is available at www.belo.com or by contacting 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 factors include, but are not limited to, changes in capital market conditions and prospects, and other factors such as changes in advertising demand, interest rates and newsprint prices; newspaper circulation matters, including changes in readership, and audits and related actions (including the censure of The Dallas Morning News) 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; the recovery of the New Orleans market from the effects of Hurricane Katrina; general economic conditions; and significant armed conflict, as well as other risks detailed in Belo's other public disclosures, and filings with the Securities and Exchange Commission ("SEC") including the Annual Report on Form 10-K.