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Belo Adjusts Earnings Forecast to Reflect Rebound

Belo Corp. adjusted its first quarter forecast yesterday
(March 1), saying strong ad performances at its stations, driven by the Super Bowl,
the Olympics and a surging auto sector, will likely produce stronger revenue
numbers. Belo President/CEO Dunia Shive shared her optimism with Wall Street at
a J.P. Morgan Finance Conference.

"Total spot
revenue was up more than 9% in January and will be up a greater percentage in
February due to the Olympics airing on our four NBC stations and the Super Bowl
airing on our five CBS stations," she said. "On our year-end earnings call on
Feb. 4, we said first quarter spot revenue was pacing up in the low
double-digits. Based on how we're tracking today, first quarter spot revenue is
now pacing up closer to the mid-teen level."

Shive said Belo's
automotive category is pacing up more than 40% in the first quarter.

Belo owns 20 stations.