DALLAS, Feb. 26 /PRNewswire-FirstCall/ -- Belo Corp. (NYSE:BLC) announced today the purchase of WUPL-TV in New Orleans, a MyNetwork TV affiliate, from CBS Corporation (NYSE:CBS) (NYSE:CBS.A), effective immediately. The agreement, which has received FCC approval, also settles litigation between Belo and CBS over the purchase that arose after Hurricane Katrina.
"We are pleased to extend our presence in the New Orleans market and deepen our commitment to the community and its citizens," said Dunia Shive, Belo's president/Media Operations. "Combining WUPL with our award-winning CBS affiliate, WWL-TV, allows us to increase our spectrum of programming choices for our viewers and provides another way for our advertisers to reach consumers."
The addition of WUPL creates Belo's fifth duopoly including Seattle/Tacoma, Phoenix, Spokane and Tucson.
Belo Corp. is one of the nation's largest media companies with a diversified group of market-leading television, newspaper, cable and interactive media assets. A Fortune 1000 company with 7,100 employees and $1.6 billion in annual revenues, Belo operates in some of America's most dynamic markets in Texas, the Northwest, the Southwest, the Mid-Atlantic and Rhode Island. Belo owns 20 television stations, six of which are in the 15 largest U.S. broadcast markets. The Company also owns or operates seven cable news channels and manages one television station through a local marketing agreement. Belo's daily newspapers are The Dallas Morning News, The Providence Journal, The Press-Enterprise (Riverside, CA) and the Denton Record-Chronicle (Denton, TX). The Company also publishes specialty publications targeting young adults, and the fast-growing Hispanic market, including Quick and Al Dia in Dallas/Fort Worth, and El D and La Prensa in Riverside. Belo operates more than 30 Web sites associated with its operating companies. Additional information is available at http://www.belo.com or by contacting Carey Hendrickson, vice president/Investor Relations & Corporate Communications, at 214-977-6626.
About CBS Corporation
CBS Corporation is a mass media company with constituent parts that reach back to the beginnings of the broadcast industry, as well as newer businesses that operate on the leading edge of the media industry. The Company, through its many and varied operations, combines broad reach with well-positioned local businesses, all of which provide it with an extensive distribution network by which it serves audiences and advertisers in all 50 states and key international markets. It has operations in virtually every field of media and entertainment, including broadcast television (CBS and The CW -- a joint venture between CBS Corporation and Warner Bros. Entertainment), cable television (Showtime and CSTV Networks), local television (CBS Television Stations), television production and syndication (CBS Paramount Network Television and CBS Television Distribution), radio (CBS Radio), advertising on out-of-home media (CBS Outdoor), publishing (Simon & Schuster), interactive media (CBS Interactive), music (CBS Records), licensing and merchandising (CBS Consumer Products) and video/DVD (CBS Home Entertainment). For more information, log on to http://www.cbscorporation.com .
Source: Belo Corp.