Belo reported third quarter total revenue of $166.1 million, down
5.7% from the same quarter a year before. The company was cycling
against political revenue, which was $15 million less this time around,
and $13.4 million in Olympics revenue at the NBC affiliates.
Belo's total revenue excluding political in the third quarter was up 3.1%.
Core
spot revenue was down 1.3% with a decrease in national of 3% and local
spot basically flat. The decline in core spot revenue was primarily due
to Olympics revenue from 2012. Political revenue totaled $2.6 million,
compared to $17.7 million in the third quarter of 2012. Total spot
revenue, including political, was down 11.5% in the third quarter of
2013.
Belo's "Other" revenue, which is comprised primarily of
Internet advertising, retransmission revenue, and barter and trade
advertising, was up 21% in the third quarter of 2013 compared to the
third quarter of 2012, including a 20% increase in Internet advertising
revenue and 28% jump in retransmission revenue.
Gannett is in the
process of acquiring Belo, which was approved by Belo's shareholders
September 25 and is subject to regulatory approval.
