BELO CORP

BELO CORP

Previous company name
BELO A H CORP
Name change date
7/3/1992
Company Overview
Belo Corp., formerly Belo AH Corp, is the leading news and information source in some of America’s most dynamic regions and markets, including Texas, the Northwest and the Southwest. Belo is a Fortune 1000 company involved in television broadcasting and newspaper publishing activities. Each week, more than 30 million Americans – concentrated in Texas, the Northwest, and the Southwest – watch Belo’s television stations, read its newspapers, or visit its Web sites. From its beginnings as a Texas newspaper company in 1842 through the explosive growth of the past 20 years, Belo has attributed its success to its unique understanding of, and commitment to, the audiences it serves. Belo’s close community ties, strong journalistic reputation, and intense regional focus have been nurtured and expanded over time, resulting in powerful media brands and business opportunities that are not easily duplicated by competitors.
With 7,100 employees, Belo owns 20 television stations in such markets as Dallas/Fort Worth, Houston, Seattle/Tacoma and Phoenix; four daily newspapers, including The Dallas Morning News; owns or operates six cable news channels; and more than 30 Web sites, several interactive alliances and a broad range of Internet-based products.
Belo’s geographic clustering of its media holdings, and its diversification of media within each cluster, helps Belo deliver unmatched regional news coverage to its audiences. The Belo strategy also offers substantial competitive advantages, such as operational efficiencies, powerful branding and cross-promotional opportunities.
Belo aspires to serve its communities of readers, viewers, online users and advertisers by consistently practicing the highest form of journalism and generating revenues commensurate with the quality of the audiences this content attracts. The company’s focused strategy for extending its news and information platform to emerging media and audiences enables the company to remain flexible as audiences change, and deliver news and information in new ways to match new tastes, interests and habits. Belo’s Web sites exemplify this strategy. In addition, the company has leveraged its local television assets to create regional cable news channels in Texas, the Northwest and Arizona, increasing its impact in these regions.
Business Summary
Belo Corp. (Belo) is a pure-play television company. As of December 31, 2009, the Company owned 20 television stations that reach 14% of United States television households, including American Broadcasting Company (ABC), Columbia Broadcasting System (CBS), National Broadcasting Company (NBC), FOX, The CW Network (CW) and MyNetwork TV (MNTV) affiliates, and their associated Websites, in 15 markets across the United States. The Company also owns two local and two regional cable news channels, and holds ownership interests in two other cable news channels. Belo also manages one station through a local marketing agreement (LMA) in San Antonio, Texas, and has joint marketing and shared services agreements with the owner and operator of KFWD-TV, licensed to Fort Worth, Texas. The San Antonio LMA expires on April 24, 2010. The Company’s stations are concentrated primarily in three regions: Texas, the Northwest and the Southwest.
Description and history
Belo Corp. (Belo) is a pure-play television company. As of December 31, 2009, the Company owned 20 television stations that reach 14% of United States television households, including American Broadcasting Company (ABC), Columbia Broadcasting System (CBS), National Broadcasting Company (NBC), FOX, The CW Network (CW) and MyNetwork TV (MNTV) affiliates, and their associated Websites, in 15 markets across the United States. The Company also owns two local and two regional cable news channels, and holds ownership interests in two other cable news channels. Belo also manages one station through a local marketing agreement (LMA) in San Antonio, Texas, and has joint marketing and shared services agreements with the owner and operator of KFWD-TV, licensed to Fort Worth, Texas. The San Antonio LMA expires on April 24, 2010.

The Company’s stations are concentrated primarily in three regions: Texas, the Northwest and the Southwest. Six of the Company’s stations are located in four metropolitan areas in the United States: ABC affiliate WFAA-TV in Dallas/Fort Worth; CBS affiliate KHOU-TV in Houston; NBC affiliate KING-TV and independent KONG-TV in Seattle/Tacoma, and Independent KTVK and CW affiliate KASW-TV in Phoenix. The principal source of revenue for Belo’s television stations is the sale of airtime to local, regional and national advertisers. During the year ended December 31, 2009, approximately 82.3% of the Company’s total revenues were derived from spot advertising with the largest percentage of the spot advertising revenues generated from the automotive category, which accounted for approximately 15% of total revenues.

Websites of each of the Company’s television stations provide consumers with news and information, as well as a variety of other products and services. During 2009, revenues for Belo’s interactive media represented 5.5% of the Company’s advertising revenues and were derived principally from advertising on the various Company Websites. The Company has a balanced portfolio of broadcast network-affiliated stations, with four ABC affiliates, five CBS affiliates and four NBC affiliates, and at least one large-market station associated with each network. Belo has network affiliation agreements with ABC, CBS, NBC, FOX, CW and MNTV. The Company’s network affiliation agreements generally provide the station with the exclusive right to broadcast over the air in its local service area all programs transmitted by the network, with which the station is affiliated. In return, the network has the right to sell most of the advertising time during such broadcasts. In connection with these network affiliation agreements, the Company’s stations may receive network compensation for broadcasting network programming.

The Company owns two regional cable news operations, Texas Cable News (TXCN) in Dallas/Fort Worth, Texas, and Northwest Cable News (NWCN) in Seattle/Tacoma, Washington, and two local cable news operations, 24/7 NewsChannel (24/7) in Boise, Idaho, and NewsWatch on Channel 15 in New Orleans, Louisiana. These operations provide news coverage in a 24-hour a day format using the news resources of the Company’s television stations in Texas, Washington, Oregon, Idaho and Louisiana. The Company also operates, through joint ventures, two cable news channels in partnership with Cox Communications and other parties that provide local news coverage in Phoenix, Arizona (Arizona NewsChannel) and Hampton/Norfolk, Virginia (Local News on Cable). These cable news channels use the news resources of the television stations owned by the Company in those markets. During 2009, approximately 2.3% of the Company’s revenues were derived from Belo’s cable news operations and consisted primarily of advertising and subscriber-based fees. The Company uses its licensed spectrum to provide more programming through multi-casting to the communities served by its television stations. These services include additional news and weather, and Hispanic programming.

Formerly known as Belo AH Corp

Business Line
Involved in television broadcasting and newspaper publishing activities
Subsidiary
ARIZONA NEWSCHANNEL LLC
Advisor
ERNST & YOUNG LLP
IPO date
12/1981
US SIC Code
2711
Company Address
400, South Record Street

City province or state postal code
75202, DALLAS, TX
Phone: +1 214 977 6606
Fax: +1 214 977 6603
Country address: UNITED STATES OF AMERICA
Website url: www.belo.com