4/26 Open: $6.48
Market Cap: $680 million
Belo Corp. (NYSE:BLC) is a pure-play television company that owns and operates 20 television stations across many different providers, including ABC, NBC, FOX and the CW. So rather than being tied to a single network’s programming, an investment in Belo is a play on the likelihood that television is going to stick around.
Obviously, in the long term, that might be an iffy prospect. The rise of streaming video and mobile devices shows that broadcast television and the related advertising are hardly cutting edge. But then again, TV didn’t kill radio, and it’s hard to imagine television disappearing altogether — let alone declining any time soon. As a result, revenues are very stable. There could even be a pop later this year tied to election advertising budgets juicing the airwaves. Regardless, the 5% dividend is a good sweetener.