SEC FORM 4

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

HERNDON DEALEY D

(Last)

(First)

(Middle)

BELO CORP.

P.O. BOX 655237

(Street)

DALLAS

75265-5237

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
BELO CORP [ BLC ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
	Officer (give title below)	Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
06/01/2010

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Series B Common Stock⁽¹⁾	06/01/2010		C		300,000	D	$0⁽²⁾	2,371,248	D
Series A Common Stock⁽¹⁾	06/01/2010		C		300,000	A	$0⁽²⁾	423,361	D
Series A Common Stock	06/01/2010		S		300,000	D	$6.9505⁽³⁾⁽⁴⁾⁽⁵⁾⁽⁶⁾	123,361	D
Series A Common Stock								5,000	I	By Spouse⁽⁷⁾

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. Belo Series B Common Stock is not publicly traded but is convertible at any time on a share-for-share basis into Series A shares.

2. No consideration; converted on a share-for-share basis.

3. Represents the average sale price per share. Shares sold in open market as follows: 38,800 shares @ $6.8500 per share; 100 shares @ $6.8502 per share; 500 shares @ $6.8510 per share; 38,000 shares @ $6.8600 per share; 1,000 shares @ $6.8601 per share; 100 shares @ $6.8602 per share; 600 shares @ $6.8604 per share; 1,800 shares @ $6.8610 per share; 9,900 shares @ $6.8700 per share; 600 shares @ $6.8701 per share; 100 shares @ $6.8703 per share; 800 shares @ $6.8710 per share; 29,168 shares @ $6.8800 per share; 2,100 shares @ $6.8801 per share; 100 shares @ $6.8802 per share; 400 shares @ $6.8804 per share; 1,000 shares @ $6.8805 per share; 1,000 shares @ $6.8807 per share; 200 shares @ $6.8808 per share; 1,700 shares @ $6.8810 per share; 100 shares @ $6.8820 per share; 100 shares @ $6.8825 per share; 667 shares @ $6.8900 per share;

4. Continuation of Footnote 3: 15,300 shares @ $6.9000 per share; 100 shares @ $6.9008 per share; 400 shares @ $6.9009 per share; 700 shares @ $6.9013 per share; 20,165 shares @ $6.9100 per share; 500 shares @ $6.9101 per share; 15,004 shares @ $7.0000 per share; 700 shares @ $7.0001 per share; 300 shares @ $7.0004 per share; 400 shares @ $7.0005 per share; 100 shares @ $7.0006 per share; 1,100 shares @ $7.0010 per share; 100 shares @ $7.0011 per share; 100 shares @ $7.0014 per share; 100 shares @ $7.0018 per share; 10,746 shares @ $7.0100 per share; 200 shares @ $7.0105 per share; 100 shares @ $7.0106 per share; 1,550 shares @ $7.0110 per share; 350 shares @ $7.0111 per share; 100 shares @ $7.0116 per share;

5. Continuation of Footnote 3: 9,290 shares @ $7.0200 per share; 700 shares @ $7.0201 per share; 300 shares @ $7.0205 per share; 100 shares @ $7.0206 per share; 300 shares @ $7.0213 per share; 100 shares @ $7.0214 per share; 4,300 shares @ $7.0300 per share; 8,100 shares @ $7.0400 per share; 400 shares @ $7.0401 per share; 250 shares @ $7.0403 per share; 300 shares @ $7.0404 per share; 350 shares @ $7.0405 per share; 100 shares @ $7.0409 per share; 800 shares @ $7.0410 per share; 200 shares @ $7.0414 per share; 10,400 shares @ $7.0500 per share; 1,000 shares @ $7.0501 per share; 200 shares @ $7.0505 per share; 200 shares @ $7.0506 per share; 100 shares @ $7.0508 per share; 100 shares @ $7.0509 per share;

6. Continuation of Footnote 3: 600 shares @ $7.0510 per share; 300 shares @ $7.0511 per share; 100 shares @ $7.0512 per share; 100 shares @ $7.0513 per share; 100 shares @ $7.0514 per share; 100 shares @ $7.0517 per share; 19,089 shares @ $7.0600 per share; 100 shares @ $7.0601 per share; 250 shares @ $7.0604 per share; 4,900 shares @ $7.0610 per share; 500 shares @ $7.0611 per share; 100 shares @ $7.0612 per share; 100 shares @ $7.0613 per share; 100 shares @ $7.0618 per share; 200 shares @ $7.0625 per share; 10,770 shares @ $7.0700 per share; 100 shares @ $7.0701 per share; 1,000 shares @ $7.0706 per share; 3,751 shares @ $7.0750 per share; 1,300 shares @ $7.0775 per share; 11,900 shares @ $7.0800 per share; 500 shares @ $7.0875 per share; 3,500 shares @ $7.0900 per share; 3,900 shares @ $7.1000 per share; 100 shares @ $7.1004 per share; 100 shares @ $7.1006 per share; and, 1,900 shares @ $7.1010 per share.

7. The reporting person disclaims beneficial ownership of these securities.

	Kay F. Stockler, Attorney-in-Fact	06/02/2010
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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