May 8, 2007
Belo Re-Elects Four Board Members at its 2007 Annual Meeting of Shareholders
DALLAS - Belo Corp. (NYSE: BLC) announced the re-election of four members of its Board of Directors at its Annual Meeting of Shareholders held earlier today. The directors are: Louis E. Caldera, a director since July 2001 and currently a tenured member of the University of New Mexico Law School faculty; Judith L. Craven, M.D., M.P.H., a director since December 1992 and a member of the board of regents of The University of Texas System; Dealey D. Herndon, a director since May 1986 and Executive Project Manager for HS&A, a project and construction management firm; and Wayne R. Sanders, a director since May 2003 and former chairman and chief executive officer of Kimberly-Clark Corporation.
These Class III directors are eligible to serve a three-year term until the 2010 annual meeting. Roger A. Enrico, a Class II director, retired from the board at today's annual meeting after serving 12 years on the board of directors. As a result, the size of the board will decrease from 13 to 12.
At today's meeting, shareholders also ratified the appointment of Ernst & Young LLP as Belo's independent registered public accounting firm. In addition, a majority of the votes cast at the meeting voted against a proposal relating to repeal of the classified board.
In his remarks at the meeting, Robert W. Decherd, Belo's chairman and Chief Executive Officer, reviewed Belo's 2006 financial performance and commented on the significant progress made on important strategic initiatives in 2006.
Decherd also highlighted the outstanding achievements of Belo journalists, including the investigative team of KMOV-TV in St. Louis, winner of the George Foster Peabody Award, along with the entire KMOV team for its charitable efforts on behalf of Variety, the Children's Charity of St. Louis. The team's efforts won the television station the coveted National Association of Broadcasters Education Foundation 2007 Service to America Partnership Award, the highest public service honor given in the broadcast television industry.
A replay of the Webcast of the Annual Meeting of Shareholders can be found at the Company's Web site at www.belo.com/invest.
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 7,100 employees and $1.6 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 20 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.