Belo Corp. reported a 20% gain in total revenue for the fourth quarter of 2010, compared to the previous year's fourth quarter. Total spot revenue was up 22%, due primarily to a nearly $27 million increase in political revenue. Local spot revenue was up a modest 1.2% while national climbed 7.1% in the quarter.
Net operating revenues for the pure-play broadcaster were $206.2 million in the quarter, well ahead of Q4 2009's $171.3 million.
"Fourth quarter's near record political revenue of $35.7 million led the company to a 22% increase in spot revenue and a 20% increase in total revenue," said Dunia A. Shive, Belo president and CEO, "providing a strong finish to an outstanding year of revenue growth."
Belo's total revenue for the full 2010 grew 16.5%, compared to the previous year, driven by an 18% increase in spot revenue, and almost $56 million in political revenue.
Belo owns and operates 20 stations, including KHOU Houston and WFAA Dallas.
