Q3 Earnings: Belo Revenue Drops 6%

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By Merrill Knox Comment

belo logoBelo Corp. reported $166 million in total revenue for the third quarter of 2013, a 5.7% drop compared to the year-ago quarter. The decline was attributed to $15 million less in political revenue and $13.4 million of non-returning Olympics revenue on Belo’s NBC affiliates. Total revenue excluding political was up 3.1% year-over-year.

Advertising categories that were up for the quarter included travel, automotive and furniture, while retail, restaurants and grocery well all down. Other revenue, including Internet advertising, retransmission revenue and barter and trade advertising, was up 21% for the quarter.

Station salaries, wages and employee benefits were up for the quarter. Programming and other operating costs were also up slightly compared to the year-ago quarter.