Belo Corp. reported a 2.5% increase in Television Group revenue in the second quarter, compared to the same quarter a year ago. While political revenue was down, local spot revenue was up 3.9% and national spot up 1%. Ad revenue on Belo’s station Websites jumped 48% to $7 million.
Belo’s overall numbers were down. The company announced net earnings per share of $.35 for the second quarter, down from $.41 in the second quarter of 2006. Last year’s quarter included a $7.5 million gain related to a vendor contract. Consolidated revenue totaled $391 million, down 3.2% from the second quarter of 2006. Newspaper Group revenue slipped 8.5%.
Belo Chairman/CEO Robert W. Decherd focused on the positive, saying the numbers showed "continued outstanding performance by the Company's premier collection of television assets, strong growth in our online businesses and excellent expense management across the Company."
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