At the Bear Stearns & Co. Inc. 16th Annual Media, Entertainment & Information
Conference in Palm Beach, Fla., Belo Corp. provided guidance on the company's
business strategies, operations and financial outlook for the first quarter of
Belo executive vice president and chief financial officer Dunia Shive said the company's television group's spot
revenues are currently expected to finish up about 4 percent in the first
As for the rest of 2003, Shive said, "Belo's television group will face
difficult comparisons in the third and fourth quarters of 2003 due to the almost
$50 million of political revenue our television stations generated in 2002, $40
million of which came in the third and fourth quarters."
Shive added, "The tight inventory levels that the television networks continue to
experience bode well for spot-television revenues in the second and third
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