December 18, 2006
Belo's Monthly Revenue and Statistical Report November 2006
DALLAS -- Belo Corp. (NYSE: BLC) today issued its statistical report for the month of November. Consolidated revenue for November increased 8.6 percent versus November of last year.
Television Group revenue increased 19 percent in November versus last year, with a 19 percent increase in spot revenue. National spot increased 15 percent versus November of the prior year, local spot decreased 2.1 percent and political revenues were $10.6 million. Advertising revenues from Belo's Television Group Web sites increased 62 percent in November 2006 versus November 2005.
Newspaper Group total revenue decreased 0.9 percent for the month of November versus the prior year, with advertising revenue flat in comparison to the same period last year. Online advertising revenue, which is included in advertising revenue, increased 36 percent in November 2006 versus November 2005.
At The Dallas Morning News, total revenue was flat in November versus last year, including an estimated $0.9 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, increased 0.6 percent in November 2006 versus November 2005. Interactive advertising revenue was strong again in November and rose by 27 percent. Retail full-run ROP revenue decreased 0.4 percent with strength in the furniture and construction categories offset by weakness in the department stores and general merchandise categories. General full-run ROP revenue increased 15 percent in November versus last year with strength in the media and telecom categories. Classified revenue decreased 14 percent versus the prior year with decreases in the classified employment, classified real estate and classified automotive categories. Part-run advertising surged 49 percent in November on the strength of record revenues for F!D Luxe, a high-end fashion publication, the redesigned zoned Metro editions and Neighbors, a group of micro-local community publications.
At The Providence Journal, advertising revenue decreased 1.8 percent in November 2006 versus November 2005, with total revenue down 2.9 percent. Part-run advertising increased 10 percent versus the same period last year. Interactive advertising revenue in Providence increased 70 percent in November 2006 versus last year led by a 77 percent increase in online classified employment.
At The Press-Enterprise, advertising revenue decreased slightly in November 2006 versus November 2005 with total revenue down 1.8 percent. Classified real estate revenue increased 15 percent in November, the tenth consecutive month it has increased by double digits. Part-run advertising increased 14 percent versus the same period last year. Advertising revenue associated with The Press Enterprise's Web sites increased more than 50 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 7,400 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 Dia 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.