BtoB

Belo posts fourth-quarter loss

Published on .

Reprints Reprints

Dallas--Belo Corp., which owns The Dallas Morning News and 18 TV stations, reported a fourth-quarter loss of $2.5 million, or 2 cents a share, compared with a profit of $85.6 million, or 76 cents a share, for the same period a year earlier.

Revenue for the period was $348.7 million, down 17.3% from $421.7 million in the fourth quarter of 2000.

Belo's TV group revenue for the quarter was $155.7 million, down 18.1% from $190.3 million a year earlier.

Newspaper revenue was $185.5 million, down 17.6% from $224.9 million in the fourth quarter of 2000.

Belo blamed the soft advertising market for the revenue declines, as well as the benefit of political advertising during the fourth quarter of 2000 in the revenue comparisons.

--Kate Maddox

In this article:
Most Popular