DALLAS, Sept. 24 /PRNewswire-FirstCall/ -- Belo Corp. and Mochila, Inc. announced today a strategic partnership whereby Belo will become a premier content syndication partner in the Mochila marketplace. In addition, Belo has made an investment in Mochila to help drive Mochila's future growth.
Mochila is the first global online media marketplace for text, video and photo content for publishers, editors, content creators and advertisers. Belo, one of the nation's largest media companies, will now offer its local content for syndication and distribution via the Mochila marketplace. This will create a new opportunity to monetize and expand the reach of Belo's high quality content. Mochila's marketplace offers millions of articles, photos and videos from some of the largest, most-recognized media brands in the world. Through the partnership, Mochila expands its content inventory and enables Belo to deepen user engagement on its online properties.
Belo also will participate in Mochila's AdMatch program, creating new revenue opportunities via the Mochila marketplace while expanding the breadth of content for Belo's users. The Mochila AdMatch program allows members to acquire content for free and syndicate content to other publishers while earning a share of advertising revenue.
"At Belo, we continue to seek out innovative business investment opportunities designed to broaden the Company's tools and services we offer our online users and advertisers," said Skip Cass, executive vice president in charge of Belo's business development team. "This strategic partnership with Mochila increases the value of Belo's content and also provides our audiences with a richer online experience across our brands."
"This partnership is further validation of the Mochila model," said Mochila CEO Keith McAllister. "We are thrilled to be partnering with Belo, which has a longstanding reputation as one of America's great media companies. We look forward to helping Belo capitalize on new opportunities, while we benefit from Belo's experience and expertise to help us expand the Mochila marketplace."
About Belo
Belo Corp. is one of the nation's largest media companies with a diversified group of market-leading television, newspaper, cable and interactive media assets. A Fortune 1000 company with 7,000 employees and $1.6 billion in annual revenues, Belo operates in some of America's most dynamic markets in Texas, the Northwest, the Southwest, the Mid-Atlantic and Rhode Island. Belo owns 20 television stations, six of which are in the 15 largest U.S. broadcast markets. The Company also owns or operates six cable news stations and manages one television station through a local marketing agreement. Belo's daily newspapers are The Dallas Morning News, The Providence Journal, The Press-Enterprise (Riverside, CA) and the Denton Record-Chronicle (Denton, TX). The Company also publishes specialty publications targeting young adults, and the fast-growing Hispanic market, including Quick and Al Dia in Dallas/Fort Worth, and El D and La Prensa in Riverside. Belo operates more than 30 Web sites associated with its operating companies. Additional information is available at http://www.belo.com/ or by contacting Paul Fry, vice president/Investor Relations & Corporate Communications, at 214-977-6835.
About Mochila
Mochila is redefining content syndication through its global online media marketplace for print, video, and photo content. The company's syndication platform levels the playing field for publishers of all sizes -- from long-tail blogs to large media companies. Mochila integrates its proprietary licensing-management technology with the company's AdMatch program, allowing Web publishers to easily acquire content for free, syndicate content to other publishers and earn a share of advertising revenue. Founded in March 2006, Mochila is privately held and based in New York, NY. For more information, visit http://www.mochila.com/.
Contacts:
For Belo: For Mochila:
Paul Fry Gavin Skillman or Eleni Bourinaris
Vice President/Investor Relations & LaunchSquad for Mochila
Corporate Communications 212-564-3665
214-977-6835
Statements in this communication concerning Belo's business outlook or future economic performance, anticipated profitability, revenue, expenses, dividends, capital expenditures, investments, future financings, or other financial and non-financial items that are not historical facts, are "forward-looking statements" as the term is defined under applicable federal securities laws. Forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from those statements.
Such risks, uncertainties and factors include, but are not limited to, changes in capital market conditions and prospects, and other factors such as changes in advertising demand, interest rates and newsprint prices; newspaper circulation matters, including changes in readership patterns and demography, and audits and related actions by the Audit Bureau of Circulations; technological changes, including the transition to digital television and the development of new systems to distribute television and other audio-visual content; development of Internet commerce; industry cycles; changes in pricing or other actions by competitors and suppliers; Federal Communications Commission and other regulatory changes; adoption of new accounting standards or changes in existing accounting standards by the Financial Accounting Standards Board or other accounting standard-setting bodies or authorities; the effects of Company acquisitions and dispositions; the recovery of the New Orleans market (where the Company owns and operates market-leading television station WWL-TV, the CBS affiliate) from the effects of Hurricane Katrina; general economic conditions; and significant armed conflict, as well as other risks detailed in Belo's other public disclosures, and filings with the Securities and Exchange Commission ("SEC") including the Annual Report on Form 10-K.
