Hearst-Argyle Television to Release Second-Quarter Earnings On July 28

Hearst-Argyle Television to Release Second-Quarter Earnings On July 28

Updates Second-Quarter Guidance

NEW YORK, July 18 /PRNewswire-FirstCall/ -- Hearst-Argyle Television, Inc. (NYSE:HTV) is scheduled to issue second-quarter results on Thursday, July 28, 2005 at approximately 6:45 a.m. (EDT), followed by a conference call and simultaneous webcast to discuss the earnings release at 9:30 a.m.

For the quarter ended June 30, 2005, the Company expects total revenue to be approximately $188.5 million, 4.8% below second quarter 2004 total revenue and 4.9% higher than second-quarter 2003 total revenue.

The Company expects to report diluted earnings per share of approximately $0.63, significantly higher than prior guidance due to a $13.9 million tax benefit arising from the settlement of a routine Internal Revenue Service examination. Excluding this tax benefit, the estimated tax expense would have been approximately $18 million, and EPS would have been approximately $0.30.

The July 28 conference call number is (800) 857-9600 for domestic calls and (773) 756-4629 for international calls; the conference can be accessed with the identification "Hearst-Argyle." A replay of the call will be available through August 4 at (800) 964-4511 or (402) 998-1034 (international). No pass code is necessary for the replay. The conference call will be webcast simultaneously from Hearst-Argyle's website, http://www.hearstargyle.com/ .

Hearst-Argyle Television, Inc. owns 25 television stations, and manages an additional three television and two radio stations, in geographically diverse U.S. markets. The Company's television stations reach approximately 18% of U.S. TV households, making it one of the largest U.S. television station groups. The Company owns 10 NBC affiliates, and is the second-largest NBC affiliate owner. Hearst-Argyle also owns 12 ABC affiliated stations, and manages an additional ABC station owned by The Hearst Corporation, and is the largest ABC affiliate group. The Company also owns two CBS affiliates and a WB affiliate, and manages a UPN affiliate and an independent station.

Hearst-Argyle is majority owned by The Hearst Corporation. Hearst-Argyle Series A Common Stock trades on the New York Stock Exchange under the symbol "HTV." HTV debt is rated investment grade by Moody's (Baa3), Standard & Poor's (BBB-) and Fitch (BBB-), each with a stable outlook. The company's Web address is http://www.hearstargyle.com/ .

FORWARD-LOOKING STATEMENTS

This news release includes forward-looking statements. We based these forward-looking statements on our current expectations and projections about future events. These forward looking statements generally can be identified by the use of statements that include phrases such as "anticipate", "will", "likely", "plan", "believe", "expect", "intend", "project" or other such similar words and/or phrases. For these statements, the Company claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. The forward-looking statements contained in this news release, concerning, among other things, trends and projections involving revenue, income, earnings, cash flow, operating expenses, capital expenditures, dividends and capital structure, involve risks and uncertainties, and are subject to change based on various important factors. Those factors include the impact on our operations from

-- Changes in Federal regulation of broadcasting, including changes in Federal communications laws or regulations; -- Local regulatory actions and conditions in the areas in which our stations operate; -- Competition in the broadcast television markets we serve; -- Our ability to obtain quality programming for our television stations; -- Successful integration of television stations we acquire; -- Pricing fluctuations in local and national advertising; -- Changes in national and regional economies; -- Our ability to service and refinance our outstanding debt; and -- Volatility in programming costs, industry consolidation, technological developments, and major world events.

These and other matters may cause actual results to differ from those we describe. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Source: Hearst-Argyle Television, Inc.

CONTACT: Thomas W. Campo of Hearst-Argyle Television, Inc., +1-212-887- 6827 or tcampo@hearst.com

Web site: http://www.hearstargyle.com/

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