July 28, 2006
Belo's Monthly Revenue and Statistical Report June 2006
DALLAS -- Belo Corp. (NYSE: BLC) issued today its statistical report for the month of June. Consolidated revenue for June increased 5.1 percent versus June of last year with increases in Television Group revenue and Newspaper Group revenue.
Television Group revenue increased 8.1 percent in June versus last year, with an 8.7 percent increase in spot revenue. Local spot increased 4.9 percent versus June of the prior year, national increased 9.3 percent and political revenues were $1.5 million. Advertising revenues from Belo's Television Group Web sites increased 48 percent in June 2006 versus June 2005.
Newspaper Group total revenue increased 2.4 percent for the month of June versus the prior year, with a 1.4 percent increase in advertising revenue. Online advertising revenue, which is included in advertising revenue, increased 48 percent in June 2006 versus June 2005. Total advertising revenue decreased 0.7 percent at The Dallas Morning News and increased 0.9 percent at The Providence Journal and 8.2 percent at The Press-Enterprise in Riverside.
At The Dallas Morning News, total revenue increased 2.7 percent in June versus last year, including an estimated $2.5 million in incremental circulation revenue associated with the implementation of the Circulation Review Team's recommended changes, primarily the move from a buy-sell arrangement to a fee-for-delivery distribution system. Advertising revenues, which were not affected by the increase in circulation revenue, decreased 0.7 percent in June 2006 versus June 2005. Interactive revenues continued strong in June, increasing 43 percent. General full-run ROP revenue increased 15 percent in June versus last year with significant strength noted in the financial category. Retail full-run ROP revenue decreased 3.1 percent with increases in the construction and grocery categories and decreases in the furniture and professional services categories. Classified revenue decreased 7.6 percent versus the prior year with a 6.1 percent decrease in classified employment revenue, a decrease of 6.7 percent in classified real estate revenue and a 15 percent decrease in classified automotive revenue.
At The Providence Journal, advertising revenue increased 0.9 percent in June 2006 versus June 2005, with total revenue down 0.7 percent. Interactive revenue in Providence increased over 100 percent in June 2006 versus last year led by sizable gains in classified employment and classified real estate. Preprints were also strong at The Journal in June, increasing 14 percent.
At The Press-Enterprise, advertising revenues increased 8.2 percent in June 2006 versus June 2005 with total revenue up 4.8 percent. Ad revenue increases were recorded in all three major categories in June retail, general and classified, which were up 18 percent, seven percent and 6.8 percent, respectively. Classified real estate increased 39 percent in June, the fifth consecutive month of double-digit growth.
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 7,700 employees and more than $1.5 billion in annual revenues, Belo operates in some of America's most dynamic markets in Texas, the Northwest, the Southwest, the Mid-Atlantic and Rhode Island. 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, and the fast-growing Hispanic market, including Quick and Al D a in Dallas/Fort Worth, and 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, dividends, 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 (where the Company owns and operates market-leading television station WWL-TV, the CBS affiliate) 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.