EX-12.1 4 dex121.htm EXHIBIT 12.1 Exhibit 12.1

Exhibit 12.1

Media General, Inc.

Computation of Ratio of Earnings to Fixed Charges

(in thousands, except ratio) (unaudited)

 

     Three  Months
Ended
March 28,
2010		     Years Ended  
       December 27,
2009		     December 28,
2008		     December 30,
2007		     December 31,
2006		     December 25,
2005		  

Pretax income (loss) from continuing operations less income/loss from equity investments

    $ (10,734 )    $ (73,933 )    $ (910,326 )    $ 46,981      $ 88,643      $ 125,013   

Fixed charges

      20,312        43,673        45,428        61,584        50,238        30,754   

Amortization of capitalized interest

      7        40        37        142        58        46   

Distributed income of equity investees

      —          —          —          —          —          —     

Less: Capitalized interest

      (35 )      (214 )      (332 )      (1,378 )      (1,003 )      (789 ) 
                                                

Earnings

    $ (9,550 )    $ (30,434 )    $ (865,193 )    $ 107,329      $ 137,936      $ 155,024   
                                                

Interest expensed and capitalized (including amortization of premiums/discounts)

    $ 19,823      $ 41,978      $ 43,449      $ 59,577      $ 48,505      $ 29,408   

Interest portion of rental expense

      489        1,695        1,979        2,007        1,733        1,346   
                                                

Fixed Charges

    $ 20,312      $ 43,673      $ 45,428      $ 61,584      $ 50,238      $ 30,754   
                                                

Ratio of Earnings to Fixed Charges

      0.47        **        **        1.74        2.75        5.04   
                                                

 

** Earnings do not cover fixed charges by $74.1 million and $910.6 million during the fiscal years ended December 27, 2009, and December 28, 2008, respectively, due to non-cash impairment charges of $84.2 million and $912 million in the respective periods (see Note 2 to the Consolidated Financial Statements contained in Item 8 of the Company’s 2009 Form10-K).