Belo Adjusts Earnings Forecast to Reflect Rebound

Q1 spot looks to be up in mid-teens

Belo Corp. adjusted its first quarter forecast yesterday
(March 1), saying strong ad performances at its stations, driven by the Super Bowl,
the Olympics and a surging auto sector, will likely produce stronger revenue
numbers. Belo President/CEO Dunia Shive shared her optimism with Wall Street at
a J.P. Morgan Finance Conference.

"Total spot
revenue was up more than 9% in January and will be up a greater percentage in
February due to the Olympics airing on our four NBC stations and the Super Bowl
airing on our five CBS stations," she said. "On our year-end earnings call on
Feb. 4, we said first quarter spot revenue was pacing up in the low
double-digits. Based on how we're tracking today, first quarter spot revenue is
now pacing up closer to the mid-teen level."

Shive said Belo's
automotive category is pacing up more than 40% in the first quarter.

Belo owns 20 stations.