Belo Corp. announced a 13% gain in total revenue in the second
quarter, compared to the same quarter a year ago. Belo's net operating
revenues were nearly $163 million--up from $144.77 million in the same
quarter last year. Total spot revenue, including political, was up 15%,
with local growing 10% and national shooting up 24%. Automotive
advertising climbed a whopping 51% in the second quarter, and the
political revenue haul was $2.5 million.
Pure-play
Belo owns 20 TV stations, including WFAA Dallas and KING Seattle.
Revenue associated with Belo's websites increased 14% to $8.1 million in
the second quarter. Retransmission revenue totaled $11.7 million in the
quarter.
Belo President/CEO Dunia A. Shive said
political will drive revenue for the remainder of 2010. "We continue to
expect robust political spending in the third quarter and throughout the
back half of the year, which will cause some crowd-out of core spot
revenue as is always the case when there are significant political
dollars," she said. "Total spot revenue in July is expected to finish up
13 to 14%, continuing the positive trend we have seen throughout 2010.
The months of August and September are expected to have greater
political revenue than July and are currently pacing above the July
level."
Shive said total spot advertising revenue could increase in the high teens in the third quarter.
