EX-99.1 3 dex991.htm EXHIBIT 99.1 Exhibit 99.1

 

Exhibit 99.1

 

FOR IMMEDIATE RELEASE

 

Wednesday, April 16, 2003

 

Media General Reports First-Quarter Results

 

RICHMOND, Va. – Media General (NYSE:MEG) today reported first-quarter earnings of $7 million, or 30 cents per diluted share. This compared with a loss of $120.3 million, or $5.21 cents per diluted share, in the first quarter of 2002, including a one-time charge of $126.3 million, or $5.47 per diluted share, occasioned by the adoption of SFAS 142. The 2003 first-quarter results included an after-tax gain of $3.7 million, or 16 cents per diluted share, from the sale of the company’s interest in Hoover’s to Dun & Bradstreet. Excluding both of these items, adjusted results for the first quarter of 2003 were $3.3 million, or 14 cents per diluted share, compared to $6 million, or 26 cents per diluted share, in the year-ago quarter.

 

First-quarter 2003 results were 4 cents per share better than Media General’s most recent guidance. The operating profit of all three divisions, the performance of SP Newsprint, and interest expense were all better than anticipated. In addition, the Broadcast Division had much stronger than expected collections in March, which reduced the required receivables allowance at quarter-end.

 

“The first quarter for Media General began with healthy revenue increases for the month of January that underscored an industry-wide belief in an advertising recovery from the depressed levels of the past two years,” said J. Stewart Bryan III, the company’s chairman and chief executive. “Momentum stalled in February, as advertisers delayed or cancelled spending due to geopolitical concerns and economic uncertainty. In March, after the war with Iraq began, our publishing business experienced cutbacks by some advertisers and a slowdown in ad placements by others. Our broadcast business, which felt a greater impact than publishing, experienced advertising cancellations, spending deferrals and pre-emptions from network news coverage.

 

“To address revenue shortfalls, in February we reinstated some of the cost control measures that we had put in place during the recession, such as a hiring freeze, aggressive management of discretionary spending, and deferral of capital expenditures. We realized some savings in March, and we expect to see more in the second quarter. At the same time, we continue to emphasize new revenue initiatives, and we are realizing significant gains in circulation as a result of our readership initiatives,” said Bryan.

 

Total revenues for the first quarter increased 1.5 percent to $197.4 million. Segment operating profit for the company’s three divisions totaled $37.3 million, compared with $38.7 million last year. Segment operating cash flow was $44.6 million, compared with $52 million in the first quarter of 2002.

 

Publishing Division revenues of $130.4 million were 1.2 percent above the first-quarter of 2002. While January revenues showed good growth, February and March results were affected by geopolitical concerns, which caused some advertisers to cancel planned schedules or hold back on spending. Harsh winter weather conditions in Virginia and North Carolina and the shift of Easter into this year’s second fiscal quarter also adversely affected year-over-year comparisons.

 

Classified revenue increased 1.2 percent. Strong automotive and real estate classified advertising offset continued weak employment advertising. Retail revenues were down 1.5

 

percent, while preprints increased by 6.8 percent. National advertising fell 5.8 percent below first-quarter 2002. Most of the shortfall occurred in the metropolitan markets. The Tampa Tribune experienced the largest decline in national revenues, including the absence in 2003 of the strong ad schedule related to the Hewlett-Packard/Compaq merger that had run in 2002. Circulation revenue rose 1.5 percent. The Tampa Tribune had the strongest growth, as net paid circulation increased by 6% daily and 5% Sunday, the result of its growth plan.

 

Publishing Division profits of $23.6 million compared with first-quarter 2002 profits of $28.3 million. These results include Media General’s share of its interest in The Denver Post, a loss of $103,000 in the first quarter of 2003 compared with a loss of $569,000 in the same 2002 period.

 

Publishing operating expenses were 6.8 percent higher than in the first quarter of 2002. The increase mostly was attributable to higher salaries and benefits, and various costs in Tampa, including the growth plan and coverage of the Super Bowl. Newsprint expense for the quarter increased by 5.5 percent due to higher consumption.

 

Broadcast Division revenue increased 1.1 percent to $64.1 million. Cancellations caused by advertiser hesitancy before and during the war dampened expected growth. First-quarter 2002 revenues included $3.4 million from the Olympics.

 

Local ad revenues rose 3.2 percent, reflecting strength in healthcare, automotive and furniture advertising. National advertising declined 2.5 percent, mostly due to the unfavorable effects of the Iraq war. Political revenues were $423,000, mostly from mayoral elections in Tampa and Wichita.

 

Broadcast profits for the quarter were $9.1 million compared with $11.5 million last year. Expenses were up 5.9 percent, reflecting higher salaries and benefits, increased sales commissions, and higher sales expenses from new revenue-enhancement programs implemented in 2003.

 

The Interactive Media Division’s profit of $4.6 million compared with a $1 million loss in the first quarter of 2002. The improvement is attributable to the sale of Media General’s Hoover’s investment, which generated a pre-tax gain of $5.7 million. Absent this gain, the division’s results would have been a loss of $1.1 million.

 

The Interactive Media Division’s revenues were up 35.5 percent over last year, due in large part to the continuing success of classified upsell arrangements with Media General newspapers. Local advertising revenue, primarily from banner advertising and sponsorships, also contributed to the growth.

 

The company’s share of SP Newsprint’s results was a loss of $2.1 million, compared with a loss of $1.5 million for the prior year’s same quarter. This performance reflected continued low newsprint prices and higher production costs for raw materials and energy. Interest expense was $3.6 million (27 percent) less than the first quarter of 2002 due to lower borrowing costs and debt levels.

 

EBITDA (income before cumulative effect of change in accounting principle and before interest, taxes, depreciation and amortization) in the first quarter of 2003 was $38 million, compared with $39.8 million in the 2002 period. Free cash flow (after-tax cash flow minus capital expenditures) was $17.6 million, compared with $12.4 million in the prior-year period.

 

Outlook

 

“Media General is encouraged by the positive outcomes so far in Iraq, and we believe that advertising spending is regaining momentum,” said Bryan. “For the second quarter, we anticipate Publishing revenue growth of 2-3 percent. Broadcast revenues are expected to be even with last year. We expect earnings per share for the second quarter of 2003 to be in the range of 72-74 cents, compared to 70 cents in the second quarter of 2002.”

 

Conference Call

 

Media General will discuss first-quarter results during a conference call and webcast today at 11 a.m. ET. To listen to the webcast, log on to www.mediageneral.com and click on the “Live Earnings Conference” link at the top of the home page. A replay will be available from 3 p.m. today until 5 p.m. on Thursday, April 25, at the same Web address.

 

Forward-Looking Statements

 

This news release contains forward-looking statements that are subject to various risks and uncertainties and should be understood in the context of the company’s publicly available reports filed with the Securities and Exchange Commission. Media General’s future performance could differ materially from its current expectations.

 

About Media General

 

Media General is an independent, publicly owned communications company situated primarily in the Southeast with interests in newspapers, television stations, interactive media and diversified information services. The company’s publishing assets include The Tampa Tribune, the Richmond Times-Dispatch, the Winston-Salem Journal and 22 other daily newspapers in Virginia, North Carolina, Florida, Alabama and South Carolina, as well as nearly 100 other periodicals and a 20 percent interest in The Denver Post. Media General’s 26 network-affiliated television stations reach more than 30 percent of the television households in the Southeast, and nearly 8 percent of those in the United States. The company’s extensive interactive media offerings include more than 50 online enterprises. Media General also has a 33 percent interest in SP Newsprint Co., which operates newsprint mills in Dublin, Ga., and Newberg, Ore.

 

Investor Contact:

  

Media Contact:

Lou Anne Nabhan

  

Raphael Seligmann

(804) 649-6103

  

(804) 649-6748

lnabhan@mediageneral.com

  

rseligmann@mediageneral.com\

 

Media General, Inc.

CONSOLIDATED STATEMENTS OF OPERATIONS

(Unaudited, in thousands, except per share amounts)

 

    

Thirteen Weeks Ending

  
    

March 30, 2003

     

March 31, 2002

  

Revenues

   

$

197,440

 

   

$

194,539

 

Operating costs:

                  

Production

   

 

90,511

 

   

 

86,547

 

Selling, general and administrative

   

 

73,662

 

   

 

66,484

 

Depreciation and amortization

   

 

17,094

 

   

 

16,639

 

    
  

Total operating costs

   

 

181,267

 

   

 

169,670

 

    
  

Operating income

   

 

16,173

 

   

 

24,869

 

    
  

Other income (expense):

                  

Interest expense

   

 

(9,868

)

   

 

(13,430

)

Investment loss-unconsolidated affiliates

   

 

(2,216

)

   

 

(2,105

)

Other, net

   

 

6,952

 

   

 

423

 

    
  

Total other expense

   

 

(5,132

)

   

 

(15,112

)

    
  

Income before income taxes and cumulative effect of change in accounting principle

   

 

11,041

 

   

 

9,757

 

Income taxes

   

 

4,030

 

   

 

3,732

 

    
  

Income before cumulative effect of change in accounting principle

   

 

7,011

 

   

 

6,025

 

Cumulative effect of change in accounting principle (net of tax)1

   

 

—  

 

   

 

(126,336

)

    
  

Net income (loss)

   

$

7,011

 

   

$

(120,311

)

    
  

Net income (loss) per common share:

                  

Income before cumulative effect of change in accounting principle

   

$

0.30

 

   

$

0.26

 

Cumulative effect of change in accounting principle

   

 

  —  

 

   

 

(5.53

)

    
  

Net income (loss)

   

$

0.30

 

   

$

(5.27

)

    
  

Net income (loss) per common share – assuming dilution:   

                  

Income before cumulative effect of change in accounting principle

   

$

0.30

 

   

$

0.26

 

Cumulative effect of change in accounting principle

   

 

  —  

 

   

 

(5.47

)

    
  

Net income (loss)

   

$

0.30

 

   

$

(5.21

)

    
  

Weighted-average common shares outstanding:

                  

Basic

   

 

23,039

 

   

 

22,829

 

Diluted

   

 

23,294

 

   

 

23,096

 

 

1 Write-down for impairment upon adoption of SFAS No. 142 Goodwill and Other Intangible Assets.

 

 

 

Media General, Inc.

BUSINESS SEGMENTS

 

(In thousands)

   

Publishing

     

Broadcast

     

Interactive

Media

       

Eliminations

     

Total

  

Quarter Ended March 30, 2003

                                               

Consolidated revenues

   

$

130,367

 

   

$

64,132

 

   

$

3,489

 

     

$

(548

)

   

$

197,440

 

    
  
  
    
  

Segment operating cash flow

   

$

30,421

 

   

$

14,836

 

   

$

(682

)

              

$

44,575

 

Allocated amounts:

                                               

Equity in net loss of unconsolidated affiliate

   

 

(103

)

                                

 

(103

)

Gain on sale of Hoover’s common stock

                     

 

5,746

 

              

 

5,746

 

Depreciation and amortization

   

 

(6,741

)

   

 

(5,714

)

   

 

(458

)

              

 

(12,913

)

    
  
  
             

Segment profit

   

$

23,577

 

   

$

9,122

 

   

$

4,606

 

              

 

37,305

 

    
  
  
                   

Unallocated amounts:

                                               

Interest expense

                                         

 

(9,868

)

Investment loss-SP Newsprint

                                         

 

(2,113

)

Acquisition intangibles amortization

                                         

 

(3,041

)

Corporate expense

                                         

 

(9,550

)

Other

                                         

 

(1,692

)

                                          

Consolidated income before income taxes

                                         

$

11,041

 

                                          

Quarter Ended March 31, 2002

                                               

Consolidated revenues

   

$

128,879

 

   

$

63,428

 

   

$

2,575

 

     

$

(343

)

   

$

194,539

 

    
  
  
    
  

Segment operating cash flow

   

$

35,838

 

   

$

16,842

 

   

$

(687

)

              

$

51,993

 

Allocated amounts:

                                               

Equity in net loss of unconsolidated affiliates

   

 

(569

)

            

 

(32

)

              

 

(601

)

Depreciation and amortization

   

 

(7,003

)

   

 

(5,344

)

   

 

(298

)

              

 

(12,645

)

    
  
  
             

Segment profit (loss)

   

$

28,266

 

   

$

11,498

 

   

$

(1,017

)

              

 

38,747

 

    
  
  
                   

Unallocated amounts:

                                               

Interest expense

                                         

 

(13,430

)

Investment loss-SP Newsprint

                                         

 

(1,504

)

Acquisition intangibles amortization

                                         

 

(2,905

)

Corporate expense

                                         

 

(9,177

)

Other

                                         

 

(1,974

)

                                          

Consolidated income before income taxes and cumulative effect of change in accounting principle

                                         

$

9,757

 

                                          

 

EBITDA, AFTER-TAX CASH FLOW, AND FREE CASH FLOW

                  

(Unaudited, in thousands)

                  
    

Thirteen Weeks Ending

  
    

March 30, 2003

     

March 31, 2002

  

Income before cumulative effect of change in accounting principle

   

$

7,011

 

   

$

6,025

 

Interest

   

 

9,868

 

   

 

13,430

 

Taxes

   

 

4,030

 

   

 

3,732

 

Depreciation and amortization

   

 

17,094

 

   

 

16,639

 

    
  

EBITDA

   

$

38,003

 

   

$

39,826

 

    
  

Income before cumulative effect of change in accounting principle

   

$

7,011

 

   

$

6,025

 

Depreciation and amortization

   

 

17,094

 

   

 

16,639

 

    
  

After-tax cash flow

   

$

24,105

 

   

$

22,664

 

    
  

After-tax cash flow

   

$

24,105

 

   

$

22,664

 

Capital expenditures

   

 

(6,485

)

   

 

(10,309

)

    
  

Free cash flow

   

$

17,620

 

   

$

12,355

 

    
  

 

 

Media General, Inc.

CONSOLIDATED BALANCE SHEETS

(In thousands)

 

    

(Unaudited)

March 30, 2003

   

December 29, 2002

ASSETS

              

Current assets:

              

Cash and cash equivalents

   

$

9,246

   

$

11,279

Accounts receivable – net

   

 

96,531

   

 

112,399

Inventories

   

 

5,117

   

 

4,101

Other

   

 

29,222

   

 

32,773

    
  

Total current assets

   

 

140,116

   

 

160,552

    
  

Investments in unconsolidated affiliates

   

 

90,339

   

 

93,370

Other assets

   

 

51,763

   

 

68,140

Property, plant and equipment – net

   

 

366,939

   

 

372,719

Excess of cost over fair value of net identifiable assets of acquired businesses – net

   

 

832,004

   

 

832,004

FCC licenses and other intangibles – net

   

 

817,185

   

 

820,226

    
  

Total assets

   

$

2,298,346

   

$

2,347,011

    
  

LIABILITIES AND STOCKHOLDERS’ EQUITY

              

Current liabilities:

              

Accounts payable

   

$

19,397

   

$

20,967

Accrued expenses and other liabilities

   

 

76,201

   

 

88,646

Income taxes payable

   

 

246

   

 

1,888

    
  

Total current liabilities

   

 

95,844

   

 

111,501

    
  

Long-term debt

   

 

613,940

   

 

642,937

Deferred income taxes

   

 

346,156

   

 

345,178

Other liabilities and deferred credits

   

 

186,045

   

 

188,141

Stockholders’ equity

   

 

1,056,361

   

 

1,059,254

    
  

Total liabilities and stockholders’ equity

   

$

2,298,346

   

$

2,347,011

    
  

 

 

FOR IMMEDIATE RELEASE

 

Wednesday, April 16, 2003

 

Media General Reports March Revenues

 

RICHMOND, Va. – Media General, Inc. (NYSE: MEG) today reported March 2003 revenues of $64.2 million, essentially even with revenues of $64.3 million in March 2002. Publishing revenues increased 0.4 percent, Broadcast revenues declined 2 percent, and Interactive Media revenues increased 34.3 percent.

 

In the Publishing Division, advertising revenue was 0.3 percent above March 2002. Growth in classified and preprints offset soft retail and national advertising. Revenue fell short of the division’s growth expectations as the start-up of war in Iraq resulted in cutbacks by some advertisers and a slowdown in ad placements by others.

 

Retail advertising revenue decreased $660,000, or 6.1 percent, reflecting the impact of war-related cutbacks in the metropolitan markets. The retail category in the first quarter was also adversely impacted because Easter falls in April in 2003. Partially offsetting the shortfall was an increase in the preprint category of $370,000, or 6.5 percent, again mostly in the metropolitan markets.

 

Classified revenue was $575,000, or 4.4 percent, above last year. Strong increases in the automotive and real estate categories were tempered by a decline in the employment category. Employment linage was down 3.8 percent in Tampa and 9.7 percent in Richmond, and up 2 percent in Winston-Salem.

 

National revenue was below March 2002 by $430,000, or 16.2 percent, resulting from lower travel-related advertising in Tampa due in part to the war’s impact.

 

Circulation revenue increased $65,000, or 1 percent, over the prior year. The Tampa Tribune saw the largest increase, at 3.9%, the result of successfully implementing an aggressive growth plan starting in mid-2002.

 

Broadcast gross time sales were $21 million, down $409,000, or 1.9 percent, from last year. The division suffered lost revenues during the month of approximately $1.6 million because of network preemptions, customer cancellations and deferrals related to the war in Iraq.

 

Local broadcast time sales increased $151,000, or 1.1 percent, due to higher furniture, health care and fast food advertising. National time sales declined $552,000, or 7 percent, primarily because of war-related preemptions and cancellations. Political revenues of $180,000 were generated by a mayoral race in Tampa and a gubernatorial campaign in Kentucky.

 

The Interactive Media Division finished the month with its highest four-week revenues since its January 2001 inception. The largest share of the division’s total revenue came from classified upsell arrangements with Media General newspapers. Additional upsell products such as Top Jobs continue to produce new revenue in the recruitment category. Banner revenue and sponsorship advertising also contributed to growth.

 

About Media General

 

Media General is an independent communications company situated primarily in the Southeast with interests in newspapers, television stations, interactive media and diversified information services. The company’s publishing assets include The Tampa Tribune, the Richmond Times-Dispatch, the Winston-Salem Journal and 22 other daily newspapers in Virginia, North Carolina, Florida, Alabama and South

 

Carolina, as well as nearly 100 other periodicals and a 20 percent interest in The Denver Post. Media General’s 26 network-affiliated television stations reach more than 30 percent of the television households in the Southeast, and nearly 8 percent of those in the United States. The company’s extensive interactive media offerings include more than 50 online enterprises. Media General also has a 33 percent interest in SP Newsprint Co., which operates newsprint mills in Dublin, Ga., and Newberg, Ore.

 

Investor Contact:

     

Media Contact:

Lou Anne Nabhan

     

Raphael Seligmann

(804) 649-6103

     

(804) 649-6748

lnabhan@mediageneral.com

     

rseligmann@mediageneral.com

 

 

MEDIA GENERAL INC.

Revenues and Page Views

 

    

March

     

Year-to-Date

  
    

2003

     

2002

     

% Change

     

2003

     

2002

     

% Change

  

Revenues (000)

   

$

64,197

 

   

$

64,252

 

   

(0.1

)%

   

$

197,440

 

   

$

194,539

 

   

1.5

 %

Publishing

   

 

41,755

 

   

 

41,602

 

   

0.4

 %

   

 

130,367

 

   

 

128,879

 

   

1.2

 %

Broadcast

   

 

21,472

 

   

 

21,902

 

   

(2.0

)%

   

 

64,132

 

   

 

63,428

 

   

1.1

 %

Interactive Media

   

 

1,156

 

   

 

861

 

   

34.3

 %

   

 

3,489

 

   

 

2,575

 

   

35.5

 %

Eliminations

   

 

(186

)

   

 

(113

)

   

(64.6

)%

   

 

(548

)

   

 

(343

)

   

(59.8

)%

    
  
  
  
  
  

Selected Publishing Revenues (000)

                                                  

By Category

                                                  

Classified

   

$

13,563

 

   

$

12,989

 

   

4.4

 %

   

$

41,823

 

   

$

41,327

 

   

1.2

 %

Retail

   

 

10,264

 

   

 

10,927

 

   

(6.1

)%

   

 

31,995

 

   

 

32,497

 

   

(1.5

)%

National

   

 

2,213

 

   

 

2,640

 

   

(16.2

)%

   

 

7,321

 

   

 

7,771

 

   

(5.8

)%

Preprints

   

 

6,052

 

   

 

5,683

 

   

6.5

 %

   

 

18,721

 

   

 

17,529

 

   

6.8

 %

Circulation

   

 

6,852

 

   

 

6,786

 

   

1.0

 %

   

 

22,139

 

   

 

21,810

 

   

1.5

 %

By Property

                                                  

Richmond

   

 

10,212

 

   

 

10,255

 

   

(0.4

)%

   

 

31,450

 

   

 

31,413

 

   

0.1

 %

Tampa

   

 

13,033

 

   

 

13,108

 

   

(0.6

)%

   

 

42,353

 

   

 

41,407

 

   

2.3

 %

Winston-Salem

   

 

4,165

 

   

 

4,000

 

   

4.1

 %

   

 

13,063

 

   

 

12,508

 

   

4.4

 %

Community Newspapers

   

 

14,241

 

   

 

14,110

 

   

0.9

 %

   

 

43,154

 

   

 

43,136

 

   

0.0

 %

    
  
  
  
  
  

Advertising Revenues (Dailies) (000)

                                                  

Richmond

   

$

7,687

 

   

$

7,713

 

   

(0.3

)%

   

$

23,460

 

   

$

23,347

 

   

0.5

 %

Tampa

   

 

11,566

 

   

 

11,749

 

   

(1.6

)%

   

 

37,638

 

   

 

37,016

 

   

1.7

 %

Winston-Salem

   

 

3,377

 

   

 

3,228

 

   

4.6

 %

   

 

10,507

 

   

 

10,055

 

   

4.5

 %

Community Newspapers

   

 

9,657

 

   

 

9,518

 

   

1.5

 %

   

 

28,874

 

   

 

28,830

 

   

0.2

 %

    
  
  
  
  
  

Broadcast Time Sales (gross) (000)

   

$

20,950

 

   

$

21,359

 

   

(1.9

)%

   

$

61,863

 

   

$

61,157

 

   

1.2

 %

Local

   

 

13,436

 

   

 

13,286

 

   

1.1

 %

   

 

39,408

 

   

 

38,177

 

   

3.2

 %

National

   

 

7,334

 

   

 

7,886

 

   

(7.0

)%

   

 

22,032

 

   

 

22,596

 

   

(2.5

)%

Political

   

 

180

 

   

 

187

 

   

(3.7

)%

   

 

423

 

   

 

384

 

   

10.2

 %

    
  
  
  
  
  

Selected Online Total Page Views

                                                  

TBO.com *

   

 

15,180,065

 

   

 

11,271,950

 

   

34.7

 %

   

 

43,825,969

 

   

 

34,923,720

 

   

25.5

 %

(Tampa, Fla.)

                                                  

timesdispatch.com*

   

 

6,765,114

 

   

 

4,405,249

 

   

53.6

 %

   

 

20,135,361

 

   

 

12,905,265

 

   

56.0

 %

(Richmond, Va.)

                                                  

JournalNow.com *

   

 

2,697,132

 

   

 

2,118,753

 

   

27.3

 %

   

 

7,836,424

 

   

 

6,480,584

 

   

20.9

 %

(Winston-Salem, N.C.)

                                                  
    
  
  
  
  
  

 

Notes: All data are subject to later adjustment. * Includes numbers from affiliated Web sites.

 

 

MEDIA GENERAL INC.

 

Daily Newspapers Advertising Linage*

 

    

March

     

Year-to Date

  
    

2003

   

2002

     

%     Change    

     

2003

   

2002

     

%     Change    

  

RICHMOND TIMES-DISPATCH

                                      

Retail

   

33,265

   

39,462

     

(15.7

)%

   

101,231

   

110,580

     

(8.5

)%

National

   

8,663

   

9,134

     

(5.2

)%

   

29,190

   

27,513

     

6.1

 %

Classified

   

72,107

   

63,985

     

12.7

 %

   

214,311

   

194,601

     

10.1

 %

Total

   

114,035

   

112,581

     

1.3

 %

   

344,732

   

332,694

     

3.6

 %

    
  
    
  
  
    

TAMPA TRIBUNE

                                      

Retail

   

43,018

   

44,157

     

(2.6

)%

   

138,330

   

127,585

     

8.4

 %

National

   

13,433

   

15,707

     

(14.5

)%

   

43,781

   

45,381

     

(3.5

)%

Classified

   

130,055

   

122,388

     

6.3

 %

   

421,356

   

395,397

     

6.6

 %

Total

   

186,506

   

182,252

     

2.3

 %

   

603,467

   

568,363

     

6.2

 %

    
  
    
  
  
    

WINSTON-SALEM JOURNAL

                                      

Retail

   

34,272

   

37,942

     

(9.7

)%

   

107,239

   

113,982

     

(5.9

)%

National

   

8,222

   

6,300

     

30.5

 %

   

24,165

   

22,700

     

6.5

 %

Classified

   

60,703

   

57,841

     

4.9

 %

   

192,307

   

186,938

     

2.9

 %

Total

   

103,197

   

102,083

     

1.1

 %

   

323,711

   

323,620

     

0.0

 %

    
  
    
  
  
    

COMMUNITY DAILIES

                                      

Retail

   

318,780

   

344,054

     

(7.3

)%

   

960,586

   

1,020,014

     

(5.8

)%

National

   

20,993

   

27,680

     

(24.2

)%

   

70,073

   

78,445

     

(10.7

)%

Classified

   

394,589

   

350,011

     

12.7

 %

   

1,191,922

   

1,108,015

     

7.6

 %

Total

   

734,362

   

721,745

     

1.7

 %

   

2,222,581

   

2,206,474

     

0.7

 %

    
  
    
  
  
    

MEDIA GENERAL DAILIES TOTAL

                                      

Retail

   

429,335

   

465,615

     

(7.8

)%

   

1,307,386

   

1,372,161

     

(4.7

)%

National

   

51,311

   

58,821

     

(12.8

)%

   

167,209

   

174,039

     

(3.9

)%

Classified

   

657,454

   

594,225

     

10.6

 %

   

2,019,896

   

1,884,951

     

7.2

 %

Total

   

1,138,100

   

1,118,661

     

1.7

 %

   

3,494,491

   

3,431,151

     

1.8

 %

    
  
    
  
  
    

 

* Advertising is in column inches – full run only