Belo's Monthly Revenue and Statistical Report October 2004

Belo's Monthly Revenue and Statistical Report October 2004 DALLAS, Nov. 19 /PRNewswire-FirstCall/ -- Belo Corp. (NYSE:BLC) issued today its statistical report for the month of October. Newspaper Group revenues increased 7.1 percent for the month of October with a 6.7 percent increase in advertising revenue. October 2004 includes one more Saturday and Sunday than October 2003. Adjusting for the extra Saturday and Sunday, and including online revenue, Newspaper Group total revenue would have increased approximately 1.4 percent, with a decrease of 4.1 percent at The Dallas Morning News, an increase of 7.1 percent at The Providence Journal, and an increase of 15.4 percent at The Press-Enterprise in Riverside. Television Group revenues increased 27.6 percent with a 28.9 percent increase in spot revenue. Political revenues were $25.4 million in October 2004 compared with $2.8 million in October 2003. October Newspaper Linage At The Dallas Morning News, total revenue increased 1.4 percent on a reported basis in October, with advertising revenue coming in flat. Advertisers used approximately $1.6 million of advertising credits associated with the advertiser compensation plan. Retail full-run ROP revenue decreased 7.9 percent with increases in the automotive and computers categories more than offset by decreases in the grocery and department stores categories. Retail full-run ROP linage decreased 4.2 percent. General full-run ROP revenue increased 2.1 with the most significant increases noted in the telecom and professional services categories. General full-run ROP volume increased 8.9 percent. Classified revenue increased 1.9 percent versus last year with a 0.3 percent decrease in volume. On a like-days basis and including online revenue, classified revenue decreased approximately 8.2 percent with increases in classified real estate and employment revenues of approximately 7.2 percent and 1.7 percent, respectively, and a decrease in classified automotive revenue of approximately 26.4 percent. At The Providence Journal, total revenue increased 14.7 percent in October with a 15.6 percent increase in advertising revenue. Total full-run ROP linage increased 1.2 percent. General and classified volume increased 26.7 percent and 13.8 percent, respectively, while retail volume decreased 7.8 percent. About Belo 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 approximately 7,600 employees and $1.4 billion in annual revenues, Belo operates media franchises in some of America's most dynamic markets and regions, including Texas, the Northwest, the Southwest, Rhode Island, and the Mid-Atlantic. Belo owns 19 television stations (six in the top 15 markets); 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). Belo operates more than 30 Web sites, several interactive alliances and a broad range of Internet-based products. Additional information, including earnings releases and corporate communications, is available online at http://www.belo.com/ . For more information contact Carey Hendrickson, vice president/Investor Relations & Corporate Communications, at 214-977-6626. Statements in this communication concerning the Company's business outlook or future economic performance, anticipated profitability, revenues, expenses, capital expenditures, investments, commitments, or other financial or operating items and other statements 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 other factors include, but are not limited to, changes in advertising demand, interest rates and newsprint prices; the current audit by the Audit Bureau of Circulations of The Dallas Morning News' circulation; technological changes; development of Internet commerce; industry cycles; changes in pricing or other actions by competitors and suppliers; regulatory changes; the effects of Company acquisitions and dispositions; general economic conditions; and significant armed conflict, as well as other risks detailed in the Company's filings with the Securities and Exchange Commission, including the Annual Report on Form 10-K. Belo Monthly Revenue and Statistics October 2004 Revenue: (Dollars in thousands) October YTD 2004 2003 Change 2004 2003 Change Total Television Group Revenue 77,536 60,775 27.6% 588,217 534,919 10.0% Total Newspaper Group Revenue 70,253 65,578 7.1% 640,187 608,020 5.3% The Dallas Morning News Linage (Note 1 & 2): October YTD 2004 2003 Change 2004 2003 Change Number of Sundays 5 4 1 44 43 1 FULL RUN ROP (Measured in six-column SAU inches) Retail 78,713 82,161 -4.2% 741,913 746,150 -0.6% General 30,239 27,777 8.9% 236,055 228,131 3.5% Classified 123,389 123,809 -0.3% 1,190,095 1,261,871 -5.7% TOTAL 232,341 233,747 -0.6% 2,168,063 2,236,152 -3.0% Note 1: Certain amounts have been reclassified to conform to the current year presentation. Note 2: Linage is for The Dallas Morning News newspaper only. Linage for the Denton Record-Chronicle, al dia, and Quick is not included due to the difference in their circulation versus The Dallas Morning News. Source: Internal Records The Providence Journal Linage: October YTD 2004 2003 Change 2004 2003 Change Number of Sundays 5 4 1 44 43 1 FULL RUN ROP (Measured in six-column SAU inches) Retail 61,723 66,934 -7.8% 552,507 576,997 -4.2% General 5,573 4,399 26.7% 49,976 37,007 35.0% Classified 43,684 38,371 13.8% 396,082 362,675 9.2% TOTAL 110,980 109,704 1.2% 998,565 976,679 2.2% Source: Internal Records GAAP to Non-GAAP Reconciliations Belo Corp. In thousands (unaudited) Revenues: (Dollars in thousands) October YTD 2004 2003 2004 2003 Newspaper Group $ 70,253 65,578 640,187 608,020 Online Publishing (1) 2,053 1,453 16,273 12,485 Combined 72,306 $ 67,031 656,460 $ 620,505 Certain amounts for the prior year have been reclassified to conform to the current year presentation. Note 1: Online publishing revenue is a component of Interactive Media revenues. Source: Internal Records Source: Belo Corp. CONTACT: Carey Hendrickson, vice president-Investor Relations & Corporate Communications of Belo Corp., +1-214-977-6626 Web site: http://www.belo.com/ ------- Profile: International Entertainment