Belo Earnings Rise In First Quarter

    April 21, 2005

Belo issued today its statistical report for the month of March. Newspaper Group revenues decreased 0.2 percent for the month of March…

…versus the prior year with a 4.3 percent decrease at The Dallas Morning News, a 3.7 percent increase at The Providence Journal, and a 10 percent increase at The Press-Enterprise in Riverside. Newspaper Group advertising revenues were flat in March. Television Group revenues decreased 2.1 percent with a 1.2 percent decrease in spot revenue. Spot revenue excluding political revenue increased 3.4 percent in March.

At The Dallas Morning News, total revenue decreased 4.3 percent in March versus last year, with advertising revenue down 5.5 percent. Retail full-run ROP revenue increased 5.6 percent with the most significant increases in the computers and automotive categories. Retail full-run ROP linage increased 13.2 percent.

General full-run ROP revenue decreased 26.4 percent as the newspaper cycled against heavy advertising from automotive manufactures in March 2004 coupled with lower revenue in the financial and travel categories. General full-run ROP volume decreased 11.8 percent. Classified revenue decreased 6.0 percent versus the prior year with a 1.2 percent increase in volume. Classified employment revenue increased 29.4 percent while classified automotive and classified real estate revenue decreased 29.4 percent and 4.0 percent, respectively.

At The Providence Journal, total revenue increased 3.7 percent in March versus March 2004 with a 5.1 percent increase in advertising revenue. Total full-run ROP linage decreased 3.8 percent. Retail volumes decreased 9.6 percent, general volumes decreased 16.2 percent and classified volumes increased 7.2 percent.

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