XNYS:BLC Insider Activity 4 Filing - 5/8/2012

Effective Date 5/8/2012

FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
ALTABEF PETER
  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)
(Last)
(First)
(Middle)
400 S. RECORD STREET
3. Date of Earliest Transaction (Month/Day/Year)
05/08/2012
(Street)

DALLAS, TX 75202
4. If Amendment, Date 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
(City)
(State)
(Zip)
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)
Code V Amount (A) or (D) Price
Series A Common Stock 05/08/2012   M   7,774(1) A (2) 7,774 D  
Series A Common Stock 05/08/2012   D(3)   3,110(3) D $6.72 4,664 D  

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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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 Underlying Securities
(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 of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Restricted Stock Units (Time-based)(4) (2) 05/08/2012   M     7,774   (5)   (5) Series A Common Stock 7,774(2) $ 0 0 D  
Restricted Stock Units (Time-Based) (2) 05/08/2012   A   10,417     (6)   (6) Series A Common Stock 10,417(2) $ 0 10,417(2) D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
ALTABEF PETER
400 S. RECORD STREET
DALLAS, TX 75202
  X      

Signatures

 Christine Larkin, Attorney-in-Fact   05/09/2012
** Signature of Reporting Person Date

Explanation of Responses:

* 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).
(1) The number of shares shown represents the time-based restricted stock units (TBRSUs) that vested and settled on May 8, 2012. These TBRSUs were awarded on July 28, 2011.
(2) Each TBRSU represents a contingent right to receive the value of one share of Belo Corp. Series A Common Stock. These TBRSUs are valued as of the date of settlement and are paid 60% in shares of Belo Corp. Series A Common Stock and 40% in cash.
(3) The number of shares shown represents settlement of the 40% cash portion of TRBSUs that vested and paid on May 8, 2012. Settlement of the cash portion is, pursuant to SEC guidance, deemed to be a sale of shares to the Company.
(4) These TBRSUs were awarded on July 28, 2011.
(5) These TBRSUs vested 100% and settled on May 8, 2012.
(6) These TBRSUs vest 100% on the date of the Company's 2013 annual meeting of shareholders and are settled on or within 10 business days of the vesting date.

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XNYS:BLC Insider Activity 4 Filling

XNYS:BLC Stock - Get Insider Activity SEC Filing of XNYS:BLC stocks, including company profile, shares outstanding, strategy, business segments, operations, officers, consolidated financial statements, financial notes and ownership information.

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XNYS:BLC Insider Activity 4 Filing - 5/8/2012
Name |  Ticker |  Star Rating |  Market Cap |  Stock Type |  Sector |  Industry Star Rating |  Investment Style |  Total Assets |  Category |  Top Holdings |  Top Sectors |  Symbol |  Title Star Rating |  Category |  Total Assets |  Top Holdings |  Top Sectors |  Symbol |  Name Title |  Date |  Author |  Collection |  Interest |  Popularity Topic |  Sector |  Key Indicators |  User Interest |  Market Cap |  Industry Name |  Ticker |  Star Rating |  Market Cap |  Stock Type |  Sector |  Industry Star Rating |  Investment Style |  Total Assets |  Category |  Top Holdings |  Top Sectors |  Symbol / Ticker |  Title Star Rating |  Category |  Total Assets |  Symbol / Ticker |  Name Title |  Date |  Author |  Collection |  Popularity |  Interest Title |  Date |  Company |  Symbol |  Interest |  Popularity Title |  Date |  Company |  Symbol |  Interest |  Popularity

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