Belo expects bum second quarter


Belo executives told analysts and investors Wednesday that it would not meet the analysts' consensus estimate of profits of 22 cents per share for the second quarter. The company said local TV revenues were flat in April while national spot was down 12%. Sales for May and June are pacing down even further, Belo said. The publishing group's revenues for April were also down double digits. But the company said it would not provide update second quarter guidance until later in the period.
- Steve McClellan