email article 
print
page
Belo Revenue Down 18%
Political and automotive way down
By Michael Malone
Belo Corp. reported that total third quarter revenue was down 17.7% from the same quarter last year. Total spot revenue, including political, was down 21.5%, with a 15% decrease in local and 18% decrease in national spot. Third quarter revenues were affected by "the soft advertising environment, particularly in the automotive category which was down 36% compared to the third quarter of 2008," Belo said in a statement.
The company was also hurt by the lack of political and Olympic revenue, compared to last year.
Advertising revenue on Belo's Web sites decreased 7.2% to $7.4 million in the third quarter. Retransmission revenue totaled $10.6 million and represented 7.5 percent of the Company's total revenue for the period.
Belo President/Chief Executive Officer Dunia A. Shive pointed out that Belo's third quarter performance was better than its second quarter. "The company's total revenue decline of 17.7% was an improvement over second quarter's revenue decline of 23% and is noteworthy given the significant political and Olympics revenue generated in the third quarter of 2008," she said. "Spot revenue, excluding political, declined 16% in the third quarter of 2009, an improvement from the 28% decline experienced in the second quarter of 2009."
Shive said Belo generated $35 million in consolidated EBITDA in the third quarter while reducing its debt by $27 million.
Total station expenses decreased 11 percent in the third quarter due primarily to "the continued implementation of cost-saving measures."
Broadcasting & Cable Copyright © 2008 Reed Business Information A division of Reed Elsevier Inc. All rights reserved.
recommend this article
Page: 1 Broadcasting & Cable is the definitive independent information source on what it takes to succeed in the TV business. This weekly print edition serves the Broadcast, Cable and Syndication communities. Subscribe now. Broadcastingcable.com is the source for breaking news, blogs from industry experts, and industry analysis. B&C Today, a daily email newsletter helps executives stay up-to-date on all key industry news.
Related Sites: Digital Producer , BN - Broadcast Newsroom , Digital Post Production , BN - Production , BN - Acquistion
Related Newsletters: BN - Broadcast Newswire
AV-HS450 16+ Input HD/SD Switcher w/ dual screen MultiViewer
Vegas Pro 8 + Free Vegas Seminar Series
With 1 Reviews.
With 2 Reviews.
