Broadcasting & Cable
Belo Corp. reported a 13.8% decrease in total revenue in the fourth quarter of 2009, compared to the same quarter a year before. Total spot revenue, including political advertising, was down 16.4% in the quarter. National spot was down 2.4% and local spot was up slightly.
Belo’s net operating revenues were $171.3 million, down from $198.9 million in the same quarter a year before.
Belo President/CEO Dunia A. Shive said the decline was almost entirely due to the lack of political advertising, which bolstered earnings late in 2008. “The company’s spot revenue, excluding political, in the fourth quarter of 2009 was down less than 1% when compared with the fourth quarter of 2008, a marked improvement from 2009’s third quarter decline of 16%,” she said. More…