Belo Corp. (Belo) is a television company. The Company owns 20 television stations , including ABC, CBS, NBC, FOX, CW and MyNetwork TV (MNTV) affiliates, and their associated websites, in 15 markets across the United States. The Company also has three local and two regional news channels. Through various subsequent transactions, Belo acquired 19 additional television stations in 14 markets across the United States, bringing the total owned television stations to 20. Belo also has a services agreement with the owner and operator of KFWD-TV, licensed to Fort Worth, Texas. The principal source of revenue for Belo�s television stations is the sale of airtime to local, regional and national advertisers. In 2012, 82.0 % of the Company�s total revenues were derived from spot advertising.