Belo Corporation

Posted on December 3, 2012 by Breanna Andrade

by Breanna Andrade

Picture courtesy of Belo Corporation

Headquarters: Belo Corporation/400 S. Record St./Dallas, Texas 75202

Phone: (214) 977-6606

Website: Belo.com

Brief History

Originally A.H. Belo Corporation was founded in 1842 by Alfred Horatio Belo. Since its date of origin A.H. Belo Corp has encompassed both newspapers and television industries. After over hundred years of managing two industries the company split in 2008. Currently Belo Corporation only deals with the Television industry and A.H. Belo Corporation with Newspaper industry.

About Belo

Belo Corporation Headquarters
Picture Courtesy of WOLFGANG DEMINO

Belo Corporation is one of the leading TV broadcasting companies. Belo Corp is based in Dallas Texas and TV media revenue includes not only cable-news channel properties but also local-TV retransmission fees paid by cable systems and satellite TV services. Belo Corp. has thrives on creating a relationship with their small-screen fans. Belo currently has 20 local television stations that serve markets in 10 states. Most of their stations though are based in Texas and Washington. Belo is affiliated with the four major broadcast networks (CBS, NBC, ABC, and FOX). They are also affiliated with a few independent stations as well as mini-networks like The CW and MyNetworkTV. Belo corporation also has two of the highest ranked stations; these being WFAA of Dallas and KHOU of Houston. Belo also operates in a small number of local and regional cable news outlets, including NWCN in Seattle and TXCN in Texas. [1]

President and Chief Executive Officer

Belo’s Chief Executive Dunia Shive. Picture courtesy of Belo Corp.

The President and Chief Executive Officer of Belo Corp is Dunia A Shive. In 1993 Shive firsted joined Belo as a corporate controller and was promoted in 1995 to Vice President/Controller. Shive was then promoted to president of Media Operations and Executive Vice President of Belo until 2007 when she earned her current position. Shive holds a bachelors degree of business administration in accounting from Texas Tech University. [2]

Belo’s Board of Directors

Belo Corporation has eleven Board of Directors. The Board of Directors includes: Robert W. Dechard, Dunia A. Shive, Wayne R. Sanders, James M. Moroney III, Henry P. Becton Jr, M. Anne Szostak, Judity L. Craven, Lloyd Ward, Dealey Herndon, McHenry Tichenor Jr, and Peter Altabef. Each of Belo’s directors serves on each of the three standing committees of the Board. Although Belo is managed by the board of directors it is interesting to note that Chairman Robert Decherd and his family control about 55% of Belo’s voting stock. [2]

All Board of Directors Pictures courtesy of Belo Corporation.

Holdings

Belo Corporation has 20 local television stations these include; KVUE-TV,KTVB-TV,WCNC-TV, WFAA-TV,WVEC-TV, KHOU-TV, WHAS-TV, WUPL-TV, WWL-TV, KASW-TV, KTVK-TV, KGW-TV,KENS-TV, KING-TV, KONG-TV, KREM-TV, KSKN-TV, KMOV-TV, KMSB-TV, KTTU-TV. [3]

Picture courtesy of Belo Corp.

Audience

Below is a chart that encompasses the call letter, affiliate, market, reach, and market rank of all of Belo’s 20 Broadcast Stations.

Reach Calculated from 2012 TV Factbook

[4]

Belo’s Top 3 Competitors

Lin TV Corp

Sinclair Broadcast Group, Inc.

Nexstar Broadcasting Group, Inc.

[2]

Where Belo Corp Stands in the Ranking

Belo Corporation is currently Ranked 10th among Broadcast Television according to AdAge.com.[5]

Picture courtesy of Adage.com

Financials

Below is a chart documenting Belo Corporations current financial progress over the last two years. [6]

Photo courtesy of Adage.com

Recent News

September 27 2012: Belo Corp. Launches Private Advertising Marketplace

Belo has announced that they will launch a Belo Private Ad Marketplace. This marketplace is a new digital platform that connects different advertisers with Belo’s digital advertising inventory across its websites. This new digital platform will allow advertisers to have direct access to Belo’s 17 million online consumers. This program helps advertisers provide more influential media placements online, while also offering more targeted brand display advertising. On the Belo’s website it states that “Belo’s Private Ad Marketplace was created to partner with select advertisers to leverage the high demand for its local sites..It also gives advertisers the opportunity to more efficiently partner directly with Belo, an award-winning producer of quality digital news and information.” said Joe Weir, Belo’s Vice President/Digital. [7]

October 30th 2012: Belo Corp. Gains Big From Political, Olympics Revenue

Strong political and Olympic advertising revenue gave Belo Corporation a lift in their third quarter. Belo generated $17.7 million in political revenue and $13.4 million in Olympics revenue. Both of these statistics are significantly higher than what was recorded in their third quarter in 2008. Net earnings nearly doubled, from 13 cents to 24 cents a share. During this time period Belo’s TV station business also had a 50% improvement in cash flow, which includes earnings before interest, taxes, depreciation, and amortization.

Belo’s total spot revenue when political revenue is added climbed up to 18%. Without political their spot revenue was still up 5.1%. This increase came from the 4.6% improvement in local spot business and a 5.8% gain in national spot revenue. The political campaign and Olympics had a great affect on Belo Corporation’s third quarter revenue due to their success in spot advertisements. [8]

October 30th 2012: Third Quarter Results

On October 30th 2012 third quarter results reported that Belo’s net earnings per share of $0.24 compared to net earnings per share of $0.13 in the third quarter of 2011. Dunia Shive stated that “our strong cash generation has allowed for a special dividend and for the early redemption of our May 2013 notes in a net present value cash-positive transaction. Our solid financial position gives us the flexibility to pursue acquisitions and investments and consider further opportunities to increase shareholder returns.” [4] [9]

View complete Third Quarter Report.

November 7th 2012: Belo Corp. Unveils New Small Business Marketing Solutions, Local Events Content

Photo courtesy of DataSphere

Belo announced another agreement to launch a specialized small business marketing solution in fourteen of their markets. Belo’s station websites will now provide small local businesses with the opportunity to advertise to their targeted neighborhood-level audiences through a partnership with DataSphere Technologies. Joe Weir, Belo’s Vice President / Digital stated that “Belo is continually looking for opportunities to help advertisers reach the audiences most relevant to their businesses and investing in solutions to improve the experience for our website visitors.” This new agreement will let Belo’s website users access thousands of upcoming events and activities in each market. This advertising venture allows users to find events by neighborhood, event type or specific time frame. [10]

Learn More about DataSphere Technologies

November 29th 2012: Media Company Belo Corp Launches ScreenShot Digital, Inc.

Belo Corporation announced today the launch of ScreenShot Digital, Inc., another new digital advertising solutions company. ScreenShot Digital will partner with local and regional marketers across the United States in order to enhance their business objectives through digital media consulting and advertising services. Belo’s investment in the new company shows their commitment to expanding their digital expertise in order to prepare for the inevitable growth within digital media. [11]

Outlook

Looking at the fourth quarter, Shive said, “we currently expect political revenue to finish
in the range of $29 million to $30 million for the fourth quarter, which would result in $58 million to $59 million of political revenue for the full year. Total spot revenue, including political, in the fourth quarter of 2012 is currently expected to finish up in the range of 11 to 13 percent compared to the fourth quarter of 2011″. Over the this semester Belo Corporation has looked into many different ways to enhance their relationship with not only the consumer but also their advertisers in order to expand on a more integrated digital platform. [9]

References:

[1[ Belo Corporation. (n.d.). Belo. Retrieved December 7, 2012, from Belo Corporation website: http://www.belo.com/

[2] Hoovers. (n.d.). Belo Corp. Retrieved November 18, 2012, from Hoovers website: http://www.hoovers.com/…/company-profile.Belo_Corp.cd4daffa5e828f9a

[3] CJR. (n.d.). Belo Corp. Retrieved December 7, 2012, from Columbia Journalism Review website: http://www.cjr.org/resources/?c=belo

[4] Nasdaq. (2011, March). Belo Corp. Retrieved December 7, 2012, from Nasdaq website: http://secfilings.nasdaq.com/edgar_conv_html%2f2011%2f03%2f11%2f0000950123-11-024777.html#FIS_BUSINESS

[5] AdAge. (n.d.). Belo Corp. Retrieved December 7, 2012, from AdAge website: http://adage.com/datacenter/datapopup.php?article_id=237431

[6] AdAge. (n.d.). Media Family Trees. Retrieved December 7, 2012, from AdAge website: http://www.mediapost.com/publications/article/186264/belo-corp-gains-big-from-political-olympics-reve.html#axzz2D4VcGlIZ

[7] Belo Corp. (2012, September 27). elo Corp. (BLC) Launches Private Advertising Marketplace. Retrieved December 7, 2012, from Belo.com website: http://phx.corporate-ir.net/phoenix.zhtml?c=105373&p=irol-newsArticle&ID=1739009&highlight=

[8] Friedman, W. (2012, October 30). Belo Corp. Gains Big From Political, Olympics Revenue Read more: http://www.mediapost.com/publications/article/186264/belo-corp-gains-big-from-political-olympics-reve.html#ixzz2EOet6rGi.Retrieved December 7, 2012, from Media Post News website: http://Belo Corp. Gains Big From Political, Olympics Revenue

[9] Belo Corp. (2012, November 29). Media Company Belo Corp. (BLC) Launches ScreenShot Digital, Inc. Retrieved December 7, 2012, from Belo website: http://phx.corporate-ir.net/phoenix.zhtml?c=105373&p=irol-newsArticle&ID=1762952&highlight=

[10] PRNewsWire. (2012, November 7). Belo Corp. Unveils New Small Business Marketing Solutions, Local Events Content. Retrieved December 7, 2012, from Yahoo website: http://finance.yahoo.com/news/belo-corp-unveils-small-business-150000012.html

[11] Belo Corp. (2012, November 29). Media Company Belo Corp. (BLC) Launches ScreenShot Digital, Inc. Retrieved December 7, 2012, from Belo website: http://phx.corporate-ir.net/phoenix.zhtml?c=105373&p=irol-newsArticle&ID=1762952&highlight=

Sinclair Broadcast Group

Posted on September 18, 2012 by tmvansic

by [Taylor Van Sickle]

[1]

Sinclair Broadcast Group, Inc.

10706 Beaver Dam Road

Hunt Valley, Maryland 21030

(410) 568-1500

www.sbgi.net

[2]

David D. Smith, President and CEO of Sinclair Broadcast Group, Inc.
[7]

Executives

David D. Smith: President, Chief Executive Officer, Chairman of the Board and Director – David D. Smith has held his position as President and CEO since 1988. Prior to working for Sinclair he founded Comark Communications, Inc. He played a very important role in the creation and success of Sinclair Broadcast Group, Inc [2].

Frederick G. Smith: Vice President and Director

J. Duncan Smith: Vice President, Secretary and Director

David B. Amy: Vice President and Chief Financial Officer

David R. Bochenek: Vice President and Chief Accounting Officer

Barry M. Faber: Executive Vice President and General Counsel

[2]

History

Sinclair Broadcast Group started out as one station in Baltimore, Maryland. The original station was created in 1971 by Julian Sinclair Smith, but it wasn’t until 1986 that his four sons came up with the idea of the Sinclair Broadcast Group. After only 10 years Sinclair Broadcast Group became the largest commercial television broadcasting company not to be owned by a network in the country. Sinclair Broadcast Group faced some rough times during 2001, but was able to make it through and by 2006 had become the largest FOX and MyNetworkTV affiliate groups. They also became the second largest ABC affiliate and the third largest affiliate for the CW network in the United States. The success of Sinclair Broadcast Group in the past is not surprising when looking at their continued success in 2012 [4].

Company Overview


Sinclair Broadcast Group, Inc. Network Affiliates [3]

The Sinclair Broadcast Group, Inc. is headed by President and CEO, David Smith. David Smith has been President and CEO since 1988 and has contributed exponentially to the company. He has also served at Chairman of the Board since 1990. He has helped build Sinclair Broadcast Group since the start of the company. As one of the leading television broadcasting companies in the United States, Sinclair Broadcast Group manages 74 television stations within 45 markets. The broadcasting company includes FOX, ABC, CW, CBS, MTV, NBC, MyTV, and Azteca affiliates. Sinclair operates 20 FOX stations, 18 MyTV, 11 ABC, 14 CW, 9 CBS, 1 NBC, and 1 Azteca. With these networks Sinclair is able to reach about 26.3% of households in the country [3]. Sinclair Broadcast Group, Inc. continues to grow in size and range. They reach a large amount of households in the country and continue to increase the number of people that they reach.

Competitors

Media General, Inc.

Hearst Television Inc.

Local TV, LCC

[6]

Recent News

August 13th, 2012 Sinclair Broadcast Group’s retransmission consent agreement with Dish Network was about to end and the two companies were in talks to either create a new one or Dish would stop carrying some of Sinclair’s stations. To be exact if the companies did not create a new retransmission consent agreement Dish would stop broadcasting 70 of Sinclair’s stations. Later Sinclair Broadcast Group announced its agreement with Dish Network to create a new retransmission consent agreement [5].

September 19th, 2012 Michael Simon was named Director of Advanced Technology for Sinclair Broadcast Group. Previous positions include Manager of Advanced Technology for Rohde & Schwarz, Lead Application Engineer for Harris Corporation, and Chief Engineer for Sinclair’s Pittsburgh market. In this position Mr. Simon will be in charge of developing new technologies to further advance the broadcasting company’s business. Sinclair’s Vice President of Advanced Technology, Mark Aitken said that, “Sinclair is probing the fundamental technologies that will enable us to leverage future business-enabling technologies,” which Mr. Simon will contribute to greatly [5.1].

October 12th, 2012 Sinclair Broadcast Group decided to close their previous contribution of $500 million of senior unsecured notes. By closing this offer, Sinclair Broadcast Group used the profits to then buy multiple stations from Newport Television LLC. Also, they intended to use the profits from this to pay off outstanding debt and for other company purposes [5.2].

November 13th, 2012 Sinclair Broadcast Group announced an exciting partnership with DataSphere Technologies. DataSphere Technologies is a marketing company that focuses mainly on local businesses to help them gain exposure. The two companies made an agreement that Sinclair will promote event calendars, and small business marketing solutions over 21 of their markets in the country. This partnership is important for both DataSphere and Sinclair. It offers DataSphere an opportunity to promote their services and get more business. The deal offers Sinclair a way to connect with local businesses in their markets and get advertising for their stations and website [9].

December 1, 2012 Sinclair Broadcast Group has obtained several more stations, while also getting rid of some of its previously existing stations. Through their deal Sinclair gained 6 new stations from Newport Television LLC. Along with the stations Sinclair also purchased Newport’s rights under the local marketing agreements with two stations. Sinclair also obtained Newport’s non-license assets for their station in Rochester for $54 million. While gaining stations, Sinclair also sold some of its preexisting stations. Sinclair made a deal with Deerfield Media, Inc. selling them their station in San Antonio and Cincinnati. Sinclair also sold them license assets to two of their stations. With these stations gains Sinclair added stations to four markets that they presently existed in and added two new markets to their business. The total deal cost them $459.7 million [8].

Finances

In Sinclair Broadcast Group, Inc.’s quarterly numbers, they are doing significantly well this year. Their total revenue over a three-month period this year was $260,489 as opposed to last year’s total revenue of $181,042. Also their total revenue over a nine-month period increased between this year and last year as well from, $552,511 to $736,817 [10].

In November the Board of Directors at Sinclair Broadcast Group, Inc. stated that the company’s Class A and Class B stock will have a $1.00 dividend per share and a quarterly dividend of $0.15 per share [5.3]. Also the company announced that for the third quarter of this year the earned $0.32 per share. This earning did not, however, match the estimated amount of $0.35 per share [10].

Sinclair Broadcast Group, Inc. Stock Information [11]

Sinclair Broadcast Group, Inc. Income Chart [12]

Future

Sinclair Broadcast Group Stock [12]

With their newly obtained stations Sinclair Broadcast Group, Inc. plans to keep expanding their hold on television broadcasting. The company is well versed in the television broadcasting business and they understand what they need to do to stay successful. Their revenue numbers show increased success throughout the fourth quarter. The company’s stock from the last month has decreased but over the course of this year it has stayed steadily in the same region. Sinclair Broadcast Group, Inc. has been a strong company since its humble beginning as one station in Maryland. There is no doubt that Sinclair Broadcast Group will continue to be a major player in the television broadcasting spectrum.

Sources

1. Google: http://images4.wikia.nocookie.net/__cb20110515151804/logopedia/images/6/67/Sbg.gif

2. Sinclair Broadcast Group Website: http://www.sbgi.net/corp_governance/officers.shtml

3. Sinclair Broadcast Group Website (Company Profile): http://www.sbgi.net/about/profile.shtml

4. Sinclair Broadcast Group Website (History): http://www.sbgi.net/about/history.shtml

5. Sinclair Broadcast Group Website (News Releases): http://www.sbgi.net/site_mgr/temp/Dish%20Aug%202012%2D2%5Fdsrp65vp%2Eshtml

5.1 Sinclair Broadcast Group Website (News Releases): http://www.sbgi.net/site_mgr/temp/Simon%5Fwfbylrjx%2Eshtml

5.2 Sinclair Broadcast Group Website (News Releases): http://www.sbgi.net/site_mgr/temp/2012%20Notes%20Offering%20closing%5F46lhc5gp%2Eshtml

5.3 Sinclair Broadcast Group Website (News Releases): http://www.sbgi.net/site_mgr/temp/CS%2012142012%5Fqvd16wqb%2Eshtml

6. Hoovers: http://www.hoovers.com/company-information/cs/company-profile.Sinclair_Broadcast_Group_Inc.16dff58899664af8.html

7. http://www.bizjournals.com/baltimore/news/2012/04/17/sinclair-broadcast-ceo-smith-gets-16.html

8. Bloomberg: http://www.bloomberg.com/article/2012-12-03/a5oA5IyRyJak.html