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Belo

Operates 20 TV stations.

Headquarters:
400 South Record Street
Dallas, Texas 75202
Employees: 2,696
CEO: Dunia Shive
Stock Symbol: BLC

Website: http://www.belo.com

Career Site

Belo Corp. owns and operates 20 television stations (nine in the top 25 markets) and their associated Web sites. Belo stations, which include affiliations with ABC, CBS, NBC, FOX and the CW, reach more than 14 percent of U.S. television households in 15 highly-attractive markets. Belo stations rank first or second in nearly all of their local markets.

Gannett Corp. announced in 2013 it will acquire Belo for $1.5 billion in cash. The deal is excepted to be approved by the end of 2013.

Six of Belo’s stations are located in the following four major metropolitan areas in the United States:

• ABC affiliate WFAA-TV in Dallas/Fort Worth;

• CBS affiliate KHOU-TV in Houston;

• NBC affiliate KING-TV and independent KONG-TV in Seattle/Tacoma; and

• Independent KTVK and The CW Network (CW) affiliate KASW-TV in Phoenix

The company also owns two regional cable news channels - Texas Cable News (TXCN) in Dallas/Ft. Worth and NorthWest Cable News (NWCN) in Seattle/Tacoma, WA. The Company also owns two local cable news channels in Boise, Idaho and New Orleans, LA.

In 2012, Belo reported revenues of $714.7 million and net income of $100.1 million.

At the end of 2012, the company had approximately 2,465 full-time and 231 part-time employees.

History

1842 - The Daily News begins publishing in Galveston, TX. Willard Richardson becomes editor a year later. Mr. Richardson makes The Daily News one of the nation's first papers to be distributed statewide by rail.

1857 - Mr. Richardson begins publishing the Texas Almanac and serves as its editor for 19 years. Early editions focused on Texas history and the workings of state government.

1865 - Alfred Horatio Belo joins The Daily News, now the most powerful newspaper in Texas. Belo succeeds Mr. Richardson and becomes majority owner of the Company.

1882 - The Company incorporates. Belo sends a young associate, George Bannerman Dealey, north to select a location for a sister newspaper. Three years later, The Dallas Morning News begins publishing under Mr. Dealey's direction.

1920 - Mr. Dealey becomes president of the Company. Six years later he renames it A.H. Belo Corporation in honor of his mentor.

1930s - WFAA-AM, one of the first radio stations in the U.S. and the first network affiliate in Texas after its launch by Belo in 1922, boosts its power to 50,000 watts, becoming the first "super-power" station in the Southwest.

1950 - Belo furthers its leadership in broadcasting by purchasing Dallas TV station KBTV and renamed it WFAA-TV. Today the ABC affiliate is the leading television station in Dallas/Fort Worth and the flagship of Belo's Television Group.

1981 - Belo's stock is publicly traded over the counter. Two years later it is listed on the New York Stock Exchange.

1984 - Belo buys KHOU-TV in Houston and WVEC-TV in Hampton/Norfolk.

1994 - Belo expands its Television Group by acquiring WWL-TV in New Orleans.

1997 - In the biggest transaction in its history, Belo acquires The Providence Journal Company. With it comes The Providence Journal; KING-TV and NorthWest Cable News (NWCN) in Seattle/Tacoma; KGW-TV in Portland; WCNC-TV in Charlotte; WHAS-TV in Louisville; KMSB-TV in Tucson; KREM-TV in Spokane; and KTVB-TV in Boise. In separate 1997 transactions, Belo acquires The Press-Enterprise, a daily newspaper serving Riverside County and the inland Southern California area; KMOV-TV in St. Louis; and KENS-TV in San Antonio .

1998 - WFAA becomes the first VHF station in the U.S. to transmit a digital signal (HDTV) on a permanent basis.

1999 - Belo acquires KTVK-TV, a highly rated independent station in Phoenix, and ABC affiliate KVUE-TV in Austin. Belo also launches Texas Cable News (TXCN), a 24-hour cable news channel. The Company's Internet subsidiary, Belo Interactive, is formed. In July, Belo acquires the Denton Publishing Company in Denton, Texas, which includes the Denton Record-Chronicle.

2000 - Belo acquires KONG-TV in Seattle/Tacoma and KASW-TV in Phoenix. Both were previously operated by Belo under local marketing agreements.

2001 - The Company's official name is changed from A.H. Belo Corporation to Belo Corp. Belo acquires KSKN-TV, a WB affiliate in Spokane that it previously operated under a local marketing agreement.

2002 - The Company acquires KTTU-TV, a UPN affiliate in Tucson that it previously operated under a local marketing agreement.

2004 - The Providence Journal celebrates its 175th anniversary on July 21. The Journal is the oldest continuously published daily newspaper in the U.S.

2007 - The Company acquires WUPL-TV in New Orleans, LA.

2008 - The company spins off its newspaper business into a separately trade company called A.H. Belo. The newspapers included The Dallas Morning News, The Providence Journal, The Press-Enterprise (Riverside, CA) and the Denton Record-Chronicle (Denton, TX).

Benefits

Group Health/Group Dental - Each year, the Belo Benefits team reviews the best medical and dental plans available for employees. Plan options may vary from year to year depending upon availability and provider networks.

Vision Care - A freestanding vision care plan is offered. The plan provides benefits for eye examinations, glasses and contact lenses.

Life Insurance - Basic Life - When employees become eligible for health care coverage, they will automatically be enrolled in the group life insurance plan. The Company pays full premium for this coverage, which provides a benefit of two times the annual base salary.

Life Insurance - Supplemental Life/Dependent Life - In addition to the Company-paid benefit, employees may purchase supplemental coverage up to five times their annual base salary. The premium is based on the amount of coverage and age. Optional dependent life coverage, life insurance to cover a spouse and or children, is also available.

Personal Accident Insurance - This optional coverage provides a benefit for the employee and their family members in the case of death or some other disabling accidental injuries. Employees may purchase PAI coverage for themselves and their family at up to six times their base salary.

Flexible Spending Accounts - Employees may set aside part of their salary before taxes to pay for unreimbursed health care and/or dependent care expenses. Contributions may range from $300 to $4,000 to a health care reimbursement account and from $300 to $5,000 for the dependent care account. Belo offers a dollar for dollar match up to $20 per week on the dependent care reimbursement account.

Business Travel Accident Insurance - Employees are automatically provided with Business Travel Accident coverage. The principal sum is equal to 1.5 times their annual base salary with a minimum benefit of $100,000 and a maximum of $300,000.

Long-Term Disability - Long-term disability (LTD) insurance is automatically provided at no cost to the employee on the first of the month following 12 months of full-time employment. Should an employee become disabled, the plan will pay up to 60% of their pre-disability earnings.

Belo Savings Plan - 401(K) - Regular, full-time employees who are age 21 or older may join the plan as soon as administratively possible following their hire date. The plan enables eligible employees to contribute any amount of their eligible pay on a pre-tax basis, up to the annual IRS dollar limit. After an individual has been employed for one year, the Company begins to contribute 2% of your 401(k) eligible income into the account even if the employee chooses not to participate with their own contributions. In addition, after one year of employment, the Company contributes 75 cents (55 cents in Belo stock, 20 cents across their investment options) for each dollar of the first 6% of their eligible income that they put into the plan.

Holidays - Regular, full-time employees are entitled to 10 paid holidays each year.

Sick Pay - The company provides sick pay benefits for eligible employees after a specified time of employment.

Vacation - Either one or two weeks of vacation is given to new employees depending on their date of hire. Employees are awarded three weeks of vacation on their fifth January 1 and four weeks on their tenth January 1 following the date of employment.

Other Benefits

Adoption Assistance
Tuition Assistance
Profit Performance Bonus
Credit Union
Employee Assistance Program
Free Parking (on Company-owned lots), as available
Subsidized Public Transportation

Updated December 10, 2013