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UBS Global Media Conference: Belo Sees Growth on Digital Side

Interactive media dominated Belo's presentation at the 40th
annual UBS Global Media and Communications Conference in New York. The
broadcaster reported $37.3 million in 2012 online revenue, and forecasts that
growing to $55.3 million in 2016.

Peter Diaz, president of media operations, and Dunia Shive,
president and CEO, talked up digital marketing outfit ScreenShot Digital, which
Belo launched Nov. 29, and said the initiative is designed to create online
revenue in markets where Belo does not have a TV station.

"We're excited about the potential of ScreenShot
Digital and what it provides our top line growth," said Shive.

Belo will continue to eye digital asset acquisitions, saying
it is "targeting digital ventures that complement our media-related

While Belo has not been active in the recent flurry of
station acquisitions, Shive said the company continues to scope them out -- provided
the deal is accretive to Belo, and does not significantly alter its leverage

Hardly overlooking the traditional business, Diaz said 40%
of Belo spot revenue comes from its local newscasts. The company is looking at
$61 million in political this year -- a record for Belo.

Belo brass is guardedly bullish on 2013, with automotive
advertising strong and the Super Bowl on the group's CBS affiliates.
"We're expected core spot to grow," said Shive. "How much it
will grow largely depends on economic conditions."