socialmedian: Belo Swings To Loss On Writedowns; TV Station Web Revs Drop 7.2 Percent

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Belo Swings To Loss On Writedowns; TV Station Web Revs Drop 7.2 Percent

Source: paidContent.org

Nov 03, 2009

Summary

Much of the focus on local media tends to center on the woes of newspapers, but TV affiliates are also hurting significantly from the downturn. Belo (NYSE: BLC), the TV sibling of the AH Belo (NYSE: AHC) newspaper company, swung to a $150 million loss on impairment charges as revenue dropped 17.7 percent. Even its station websites saw ad dollars fall 7.2 percent to $7.4 million. The absence of ad dollars from the Olympics and the national political campaigns was a big factor, Dunia Shive, Belo’s president and CEO, suggested in a statement. Shive said the Dallas company’s Q4 results should be somewhat better.

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