Belo Reports 16% Revenue Gain

Station group reports record political spending; core up 5%

By Michael Malone -- Broadcasting & Cable, 11/1/2012 10:54:30 AM

Belo reported third-quarter revenue of $176 million, 16% higher than the same quarter last year. Record political spending paced the strong earnings, as did advertising gains during the Olympics.

"We generated $17.7 million in political revenue and $13.4 million in Olympics revenue in the third quarter of 2012, both of which were significantly higher than we recorded in the third quarter of 2008," said Dunia Shive, Belo president and CEO. "Our total spot revenue, including political, grew 18% in the third quarter of 2012 compared to the third quarter of 2011, and our total revenue increased 16%."

Political revenue in the third quarter totaled $17.7 million, a $15.6 million increase compared to the third quarter of 2011. Total spot revenue, including political, was up 18% in the third quarter. Excluding political, it was up 5.1%.