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.

400 S. RECORD STREET

(Street)

DALLAS

75202

(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)
12/05/2011

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	12/05/2011		S		100,000	D	$5.9885⁽¹⁾⁽²⁾⁽³⁾	30,804	D

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: 18,300 shares @ $5.95 per share; 2,900 shares @ $5.951 per share; 100 shares @ $5.9517 per share; 300 shares @ $5.952 per share; 100 shares @ $5.9522 per share; 200 shares @ $5.9528 per share; 600 shares @ $5.955 per share; 5,640 shares @ $5.96 per share; 1,500 shares @ $5.961 per share; 300 shares @ $5.9618 per share; 100 shares @ $5.9621 per share; 400 shares @ $5.9628 per share; 100 shares @ $5.965 per share; 17,053 shares @ $5.97 per share; 200 shares @ $5.9709 per share; 1,347 shares @ $5.971 per share; 200 shares @ $5.9712 per share; 200 shares @ $5.9714 per share; 200 shares @ $5.9715 per share; 37 shares @ $5.9718 per share; 3,749 shares @ $5.98 per share; 100 shares @ $5.9801 per share; 200 shares @ $5.9808 per share; 1,346 shares @ $5.985 per share; 200 shares @ $5.989 per share; 4,717 shares @ $5.99 per share;

2. Continuation of Footnote 1: 11,011 shares @ $6.00 per share; 100 shares @ $6.0002 per share; 200 shares @ $6.0003 per share; 100 shares @ $6.0004 per share; 300 shares @ $6.0006 per share; 200 shares @ $6.0008 per share; 600 shares @ $6.0009 per share; 1,500 shares @ $6.001 per share; 900 shares @ $6.005 per share; 3,400 shares @ $6.01 per share; 200 shares @ $6.0105 per share; 1,400 shares @ $6.015 per share; 100 shares @ $6.019 per share; 3,800 shares @ $6.02 per share; 100 shares @ $6.025 per share; 2,565 shares @ $6.03 per share; 100 shares @ $6.0305 per share; 100 shares @ $6.0306 per share;

3. Continuation of Footnote 1: 2,500 shares @ $6.031 per share; 500 shares @ $6.0312 per share; 200 shares @ $6.0314 per share; 300 shares @ $6.0318 per share; 200 shares @ $6.04 per share; 100 shares @ $6.045 per share; 2,200 shares @ $6.05 per share; 900 shares @ $6.055 per share; 2,268 shares @ $6.07 per share; 100 shares @ $6.0703 per share; 200 shares @ $6.0708 per share; 1,900 shares @ $6.08 per share; 100 shares @ $6.081 per share; and, 1,767 shares @ $6.09 per share.

	Kay F. Stockler, Attorney-in-Fact	12/06/2011
	** 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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