After reporting sequential improvement every month from May through October, Belo Corporation CEO Dunia Shive is looking forward to the day when that improvement will move from less negative numbers to actual positive revenue growth. And she sees that coming in 2010.
“We are encouraged that advertising conditions appear to be improving,” Shive said as she met with Wall Street analysts by phone to discuss the Q3 results reported earlier in the day. “Looking to 2010, we’ll have the Super Bowl on our CBS stations and the Olympics on our NBC stations. Together with an improving economy and a strong political climate, we’re optimistic that Belo will deliver revenue growth in 2010 over 2009. In the meantime, we continue to remain focused on revenue generation, managing expenses and reducing debt,” she said. Excluding political, which was significant in 2008, she is expecting Q4 spot sales to improve over Q3 – another quarter of sequential improvement.
In addition to stating plans to refinance its bank debt as it reported its Q3 results, Belo also announced that it is offering new bonds in conjunction with its bank refinancing. Click here for details.