Belo Reports 4Q Core Revenue Up 3%

Belo Corp., one of the nation’s largest pure-play, publicly-traded television companies, today reported fourth quarter 2011 total spot revenue, excluding political, was up 3% with a 6% increase in local spot revenue and a 3% decrease in national spot revenue.

Total spot revenue, including political, was down 15% in the fourth quarter of 2011 versus the fourth quarter of 2010. Political revenue in the fourth quarter totaled $5.9 million compared to $35.7 million in the fourth quarter of 2010.

Other revenue, which includes barter and trade advertising, network compensation, Internet advertising revenue and retransmission revenue, was up slightly in the fourth quarter of 2011 as a double-digit percentage increase in combined retransmission and Internet revenue was partially offset by lower network compensation.

Commenting on the company’s operating performance, Dunia A. Shive, Belo Corp.’s president-CEO, said: “Belo’s core spot revenue grew 3% in the fourth quarter of 2011 compared to the fourth quarter of 2010. The automotive category delivered its strongest quarter of the year and we’re pleased to see that momentum continue into the first quarter of 2012.

“With the savings related to the conclusion of the Oprah show last fall and the company’s continued expense management, combined station and corporate operating costs were down 6% in the fourth quarter of 2011. Our station adjusted EBITDA totaled $76 million in the fourth quarter and the station adjusted EBITDA margin was 42 percent,” Shive added.

Read the company’s report here.