DALLAS, Oct. 7 /PRNewswire-FirstCall/ -- Belo Corp. (NYSE: BLC), one of the nation's largest pure-play, publicly-traded television companies, presented today at the Deutsche Bank 18th Annual Leveraged Finance Conference.
During the presentation, Dunia A. Shive, Belo's president and Chief Executive Officer, said, "In our last third quarter update, we stated that total spot revenue could approach a high teen increase, depending on the strength of political. We currently expect to report an increase in third quarter total spot revenue of about 17.5 percent versus the third quarter of 2009. Political revenue in the third quarter of 2010 totaled approximately $11 million, a little less than originally expected, but still up from the $7.5 million we generated in the last non-Presidential election cycle in 2006."
Shive also noted that the Company recently reached an agreement with ABC for network affiliation agreements related to its four ABC stations in Dallas/Fort Worth, Austin, Louisville and Hampton/Norfolk. In addition, the Company recently completed network affiliation renewals with CBS for its stations in Houston, San Antonio and New Orleans.
The full presentation and a replay of the Webcast are archived on Belo's Web site at www.belo.com.
About Belo Corp.
Belo Corp. (BLC), one of the nation's largest pure-play, publicly-traded television companies, 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, and the CW, reach more than 14 percent of U.S. television households in 15 highly- attractive markets. Belo stations rank first or second in nearly all of their local markets. Additional information is available at www.belo.com or by contacting Paul Fry, vice president/Investor Relations & Treasury Operations, at 214-977-6835.
Statements in this communication concerning Belo's business outlook or future economic performance, anticipated profitability, revenues, expenses, capital expenditures, investments, future financings, impairments, pension matters, and 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, uncertainties regarding the costs, consequences (including tax consequences) and other effects of the Company's spin-off distribution of its newspaper businesses and related assets to A. H. Belo Corporation and the associated agreements between the Company and A. H. Belo relating to various matters; changes in capital market conditions and prospects, and other factors such as changes in advertising demand, interest rates and programming and production costs; changes in viewership patterns and demography, and actions by Nielsen; changes in the network-affiliate business model for broadcast television; technological changes, and the development of new systems to distribute television and other audio-visual content; changes in the ability to secure, and in the terms of, carriage of Belo programming on cable, satellite, telecommunications and other program distribution methods; development of Internet commerce; industry cycles; changes in pricing or other actions by competitors and suppliers; Federal Communications Commission and other regulatory, tax and legal 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, dispositions, co-owned ventures, and investments; pension plan matters; general economic conditions; and significant armed conflict, as well as other risks detailed in Belo's other public disclosures and filings with the SEC including Belo's Annual Report on Form 10-K.
SOURCE Belo Corp.