• by Wayne Friedman , February 14, 2008

Belo Corp.'s television and newspaper business data pointed down for the fourth quarter for all major financial metrics.

Television revenue went south by 2.4% to $217.9 million, with earnings before interest, taxes, depreciation and amortization (EBITDA) down 9.2% to $95.9 million. Total spot revenue was down 5% in the fourth quarter and 1.1% lower for the full year 2007.

The company said lower comparable political advertising during the period hurt financial results. Fourth-quarter and full-year 2007, including political revenue, were $8.4 million and $14.6 million, respectively. This compares to fourth-quarter and full-year 2006, which was at $31.6 million and $47 million, respectively.

Better news came from the company's related online TV businesses--43% growth in the fourth quarter and 41% for the full year.

The company touted that full-year results from its television operations compare favorably against the competition and against odd-number-year results, which typically yield lower political advertising revenue for the entire TV industry. Television revenue for 2007 was up 0.8% to $776.9 million.

The situation for its newspaper group continued its downward spiral. Quarterly revenues were down 11.4% to $188.7 million. Newspaper EDITDA sank 25.6% to $37.9 million.

Online advertising revenue from the Newspaper Group's Web sites increased 15% versus the fourth quarter of the previous year.

The company recently spun off its newspaper assets into a separate company, A.H. Belo Corp., with its TV assets remaining under the Belo Corp. moniker.