Belo Reports Q1 Results

Apr 21, 2005  •  Post A Comment

Belo, a newspaper group that also owns 19 network-affiliated television stations, on Thursday reported mixed first-quarter results as the Dallas-based company saw an increase in net income and a decline in revenue.

The company reported a first-quarter profit of $23.7 million, versus a year-earlier profit of $22.3 million. Revenue fell slightly more than 1 percent, largely due to sales declines at the company’s newspaper and television operations.

Within the TV group revenue was hurt by the absence of significant Super Bowl revenue in the quarter as well as a sharp decline in political advertising spending.

Though Belo’s Fox affiliate in Tucson, Ariz., pulled in approximately $100,000 in Super Bowl-related advertising revenue from this year’s event, it paled when compared with 2004’s big game, which generated $3.5 million in revenue at Belo’s five CBS affiliates.

Meanwhile, political advertising tumbled in the 2005 quarter to nearly $500,000 from a year-earlier figure of $4.5 million. n

Belo’s cable news channels NorthWest Cable News and Texas Cable News reported a 22 percent drop in revenue related to a downsizing of the channels’ operations, which was announced last year and helped stem the channels’ red ink to $147,000 in the 2005 first quarter, versus a year-earlier loss of $558,000.