Belo Corp. issueda press release
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this morning announcing that while its television group's making money--revenue increased 8.6 percent in July 2006 versus last year--its newspaper group revenue is down. Says here, "Newspaper Group total revenue decreased 4.2 percent for the month of July versus the prior year, with a seven percent decrease in advertising revenue." The online component at Belo is faring much better: The company reports revenue increased 36 percent in July 2006 versus July 2005.
So, what's that mean for The Dallas Morning News? Well...
"At The Dallas Morning News, total revenue decreased 4.4 percent in July versus last year, including an estimated $2.5 million in incremental circulation revenue associated with the change from a buy-sell arrangement with contractors to a fee-for-delivery distribution system. Advertising revenues, which were not affected by the increase in circulation revenue, decreased 8.6 percent in July 2006 versus July 2005...Classified revenue decreased 7.6 percent versus the prior year with a one percent increase in classified employment revenue, a decrease of 4.6 percent in classified real estate revenue and a 21 percent decrease in classified automotive revenue."
Of course, none of this comes as news to those at The News contemplating taking a buyout, the deadline for which is this week. --Robert Wilonsky