TV Company Belo Corp. Reports $13.5 Million In Earnings

Belo Corp. reported first-quarter earnings of $13.5 million, up from $8.9 million in the same period last year.

The company, which owns 20 stations across the country, rose revenue by 14 percent to $154 million and cut costs across most spending categories.

Belo also noted that it’s recently lifted a wage freeze and reinstated some cut salaries; it also will reinstate a pension benefit that was cut in 2009.

A.H. Belo, a newspaper company that spun out from Belo in 2008, reports earnings tomorrow.