November 17, 2006
Belo's Monthly Revenue and Statistical Report October 2006
DALLAS -- Belo Corp. (NYSE: BLC) today issued its statistical report for the month of October. Consolidated revenue for October increased 9.8 percent versus October of last year.
Television Group revenue increased 27 percent in October versus last year, with a 29 percent increase in spot revenue. National spot increased 3.3 percent versus October of the prior year, local spot decreased 5.5 percent and political revenues were $20.7 million. Advertising revenues from Belo's Television Group Web sites increased 56 percent in October 2006 versus October 2005.
Newspaper Group total revenue decreased 5.4 percent for the month of October versus the prior year, with a 6.6 percent decrease in advertising revenue. Online advertising revenue, which is included in advertising revenue, increased 44 percent in October 2006 versus October 2005.
At The Dallas Morning News, total revenue decreased 4.3 percent in October versus last year, including an estimated $1.2 million in incremental circulation revenue associated with the change from a buy-sell arrangement with contractors to a fee-for-delivery distribution system. Advertising revenues, which were not affected by the increase in circulation revenue, decreased 6.3 percent in October 2006 versus October 2005. Interactive advertising revenue growth was strong again in October, increasing 37 percent. Retail full-run ROP revenue increased 0.5 percent with strength in the automotive and real estate categories and weakness in the furniture and entertainment categories. General full-run ROP revenue decreased nine percent in October versus last year. Within general, strength in the media and travel categories was offset by decreases in the financial and automotive categories. Classified revenue decreased 13 percent versus the prior year with decreases in classified employment, classified real estate and classified automotive. Part-run advertising increased 15 percent in October and is mostly related to new products launched at The Dallas Morning News.
At The Providence Journal, advertising revenue decreased 6.8 percent in October 2006 versus October 2005, with total revenue down seven percent. Interactive advertising revenue in Providence increased 67 percent in October 2006 versus last year led by an 87 percent increase in classified employment.
At The Press-Enterprise, advertising revenue decreased 7.5 percent in October 2006 versus October 2005 with total revenue down 7.4 percent. Classified real estate revenue increased 12 percent in October, the ninth consecutive month it has increased by double digits. Advertising revenue associated with The Press Enterprise's Web sites increased more than 61 percent in October.
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 7,400 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.