April 2, 2009

Belo Corp. Television Station WWL-TV Wins 2008 Peabody

DALLAS - Belo Corp. (NYSE: BLC), one of the nation's largest pure-play, publicly-traded television companies, announced today that WWL-TV, its CBS affiliate in New Orleans, has been selected as a 2008 George Foster Peabody Award winner. The winners of the 68th annual awards were announced Wednesday morning at the University of Georgia, where the awards program is based.

WWL received the honor for its investigative reports on practices of the city-run agency, New Orleans Affordable Homeownership (NOAH). The series of more than 50 reports uncovered alleged corruption in the agency, which was responsible for administering repairs of homes damaged by Hurricane Katrina.

The investigative team was led by WWL-TV anchor/reporter, Lee Zurik, along with photographers, Tom Moore and Bob Parkinson; executive producer, Dominic Massa; and executive news director, Chris Slaughter.

On Tuesday, WWL's NOAH investigation was also honored with the IRE Medal, a national award given by Investigative Reporters and Editors, Inc.

"The investigative team at WWL demonstrates Belo's ongoing commitment to providing vital local news and information to the communities we serve," said Dunia Shive, Belo's president and Chief Executive Officer. "We are extremely proud of WWL's extraordinary efforts and this Peabody Award is truly well deserved."

This marks the seventh time WWL has been honored with a Peabody Award and brings to ten the total number of Peabody Awards earned by Belo since 2000, more than any other commercial station group.

The Peabody Awards, established in 1940, are administered by the University of Georgia's Grady College of Journalism and Mass Communication. The Peabody recognizes distinguished achievement and meritorious public service by stations, networks, producing organizations and individuals. The awards will be presented on May 18 at a ceremony in New York.

About Belo Corp.
Belo Corp. (BLC) is one of the nation's largest pure-play, publicly-traded television companies, with 2008 annual revenue of $733 million. The Company owns and operates 20 television stations (nine in the top 25 markets) and their associated Web sites. Belo stations, which include affiliations with ABC, CBS, NBC, FOX, CW and MyNetwork TV, reach more than 14 percent of U.S. television households in 15 highly-attractive markets. Nearly all Belo stations rank first or second in their local markets. Additional information is available at www.belo.com or by contacting Paul Fry, vice president/Investor Relations & Corporate Communications, at 214-977-6835.