CEO Dunia Shive says the TV station group's core revenue should be up 9% for the year in addition to the more than $55 million in political ad money. She sees growth ahead next year, but not quite as strong as in '10.
UBS GLOBAL MEDIA CONFERENCE
Belo Expects Rev Growth Of 18% In 2010
Belo, one of the largest pure-play, publicly traded TV station groups, expects to end 2010 with year-over-year advertising revenue growth of 18%, CEO Dunia Shive said at the UBS 38th Annual Global Media and Communications Conference in New York today.
Growth in core revenue (excluding the more than $55 million in cyclical political spending) should be up 9% for the year, she said.
Looking ahead, Shive said she expects core revenue to grow again in 2011, but at a more moderate rate than in 2010.
“We expect combined station and corporate operating costs to grow at a low-to-mid single digit rate in 2011,” she said.
“There will be fluctuations in our expense variance quarter-to-quarter due to Nextel credits in the first half of 2010 and syndicated programming expense savings related to the Oprah show in the fall of 2011.”
“Capital expenditures in 2011 are expected to be $15 million to $16 million,” she added.
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