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^*

DECHERD ROBERT W

(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)
12/07/2010

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 A Common Stock	12/07/2010		S		66,867	D	$6.4599⁽¹⁾⁽²⁾⁽³⁾	43,407	D
Series A Common Stock	12/08/2010		S		43,407	D	$6.4743⁽⁴⁾⁽⁵⁾⁽⁶⁾	0	D
Series A Common Stock								1,200	I	By Spouse⁽⁷⁾
Series A Common Stock								5,468	I	By 401K Account⁽⁸⁾

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. Represents the average sale price per share. Shares sold in open market as follows: 400 shares @ $6.41 per share; 100 shares @ $6.4101 per share; 100 shares @ $6.4103 per share; 200 shares @ $6.4112 per share; 100 shares @ $6.415 per share; 1,500 shares @ $6.42 per share; 168 shares @ $6.4203 per share; 300 shares @ $6.4211 per share; 100 shares @ $6.425 per share; 2,832 shares @ $6.43 per share; 400 shares @ $6.4301 per share; 400 shares @ $6.4302 per share; 1,400 shares @ $6.4303 per share; 300 shares @ $6.4304 per share; 200 shares @ $6.4305 per share; 100 shares @ $6.4309 per share; 100 shares @ $6.431 per share; 400 shares @ $6.4311 per share; 300 shares @ $6.435 per share; 19,897 shares @ $6.44 per share; 500 shares @ $6.4401 per share; 300 shares @ $6.4403 per share; 200 shares @ $6.4404 per share; 300 shares @ $6.4405 per share; 3 shares @ $6.445 per share; 10,455 shares @ $6.45 per share;

2. Continuation of Footnote 1: 500 shares @ $6.4501 per share; 700 shares @ $6.4502 per share; 100 shares @ $6.4503 per share; 300 shares @ $6.4504 per share; 100 shares @ $6.4506 per share; 200 shares @ $6.4511 per share; 200 shares @ $6.4516 per share; 100 shares @ $6.455 per share; 2,119 shares @ $6.46 per share; 200 shares @ $6.4602 per share; 1,700 shares @ $6.47 per share; 500 shares @ $6.4701 per share; 300 shares @ $6.475 per share; 1,200 shares @ $6.48 per share; 100 shares @ $6.4814 per share; 100 shares @ $6.4818 per share; 100 shares @ $6.485 per share; 400 shares @ $6.49 per share; 200 shares @ $6.4913 per share; 100 shares @ $6.4950 per share; 12,290 shares @ $6.50 per share;

3. Continuation of Footnote 1: 500 shares @ $6.5001 per share; 300 shares @ $6.5002 per share; 100 shares @ $6.5003 per share; 200 shares @ $6.5004 per share; 100 shares @ $6.501 per share; 200 shares @ $6.5017 per share; 100 shares @ $6.505 per share; 903 shares @ $6.51 per share; 400 shares @ $6.52 per share; 218 shares @ $6.54 per share; 382 shares @ $6.55 per share; 500 shares @ $6.57 per share; and, 400 shares @ $6.59 per share.

4. Represents the average sale price per share. Shares sold in open market as follows: 10,200 shares @ $6.45 per share; 100 shares @ $6.4501 per share; 100 shares @ $6.4502 per share; 200 shares @ $6.4503 per share; 300 shares @ $6.4505 per share; 5,400 shares @ $6.46 per share; 100 shares @ $6.4602 per share; 100 shares @ $6.4603 per share; 197 shares @ $6.461 per share; 4,803 shares @ $6.47 per share; 100 shares @ $6.4702 per share; 200 shares @ $6.4703 per share; 200 shares @ $6.4704 per share; 3,700 shares @ $6.48 per share;

5. Continuation of Footnote 2: 100 shares @ $6.4801 per share; 200 shares @ $6.4803 per share; 100 shares @ $6.481 per share; 8,200 shares @ $6.49 per share; 800 shares @ $6.4901 per share; 500 shares @ $6.4902 per share; 100 shares @ $6.4903 per share; 100 shares @ $6.4904 per share; 100 shares @ $6.4905 per share; 300 shares @ $6.4906 per share; 200 shares @ $6.4907 per share; 100 shares @ $6.4909 per share;

6. Continuation of Footnote 2: 300 shares @ $6.491 per share; 300 shares @ $6.4911 per share; 200 shares @ $6.4913 per share; 100 shares @ $6.4918 per share; 200 shares @ $6.495 per share; 5,507 shares @ $6.50 per share; 100 shares @ $6.54 per share; 100 shares @ $6.55 per share; and, 100 shares @ $6.56 per share.

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

8. Held by the Belo Savings Plan as of the date of this report.

	Kay F. Stockler, Attorney-In-Fact	12/09/2010
	** 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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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