Belo Swings To 4Q Loss

By: Belo Corp. says it swung to a fourth-quarter loss as a result of write-downs, the cost of newspaper spinoffs and weak ad sales.

The Dallas-based media company said Wednesday it lost $333.4 million in the last three months of 2007. That compares with a profit of $51.3 million a year earlier.

Belo posted $367 million in write-downs in the value of some newspaper and television businesses. Newspaper spinoffs also cost the company $6.5 million during the quarter. Belo recently completed a deal to spin off its four newspapers, including The Dallas Morning News.

Belo said the advertising environment for newspapers was soft, though television and online advertising improved.