DALLAS, June 7 /PRNewswire-FirstCall/ -- Belo Corp. (NYSE: BLC), one of the nation's largest pure-play, publicly-traded television companies, presented today at Noble Financial's Sixth Annual Equity Conference.
During the presentation, Carey P. Hendrickson, Belo's senior vice president and Chief Financial Officer, said, "Based on current pacing trends, we believe our total spot revenue could approach a mid-teen increase in the second quarter of 2010 compared to the second quarter of 2009, which is consistent with what we stated on our first quarter earnings call. We expect the percentage increase in spot revenue without political in the second quarter of 2010 versus the second quarter of 2009 to be higher than the first quarter increase of 12 percent. Political revenue in the second quarter of 2010 is expected to be considerably lower than the $6.3 million generated in the first quarter of 2010. The light political activity in the second quarter is mostly a function of the timing of campaigns in our respective markets. We expect robust political revenue for full-year 2010 with most of this revenue coming in the second half of the year."
"Belo's automotive category was up 45 percent in the first quarter of 2010 versus the first quarter of 2009 and we expect the percentage increase in automotive to finish higher than that in the second quarter," Hendrickson added.
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, CW and MyNetwork TV, 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.