EX-99.1 2 mg1898ex991.htm

Exhibit 99.1

Media General Reports December Revenues

          RICHMOND, Va., Jan. 27 /PRNewswire-FirstCall/ -- Media General, Inc. (NYSE: MEG) today reported December 2004 revenues of $72.2 million, a 7.7 percent increase from December 2003.  On a divisional basis, Publishing revenues increased 5.4 percent, Broadcast revenues rose 10.7 percent, and Interactive Media Division revenues were up 63.3 percent.

          For the month, newspaper advertising revenues increased $2.3 million, or 6.2 percent, over last year.  The Tampa Tribune reported a very strong month, with advertising revenues up 10.6 percent. The community newspaper group had advertising revenue growth of 8.9 percent.  When online revenues from Media General’s newspaper Web sites are included, total publishing revenues increased 6.1 percent for the month, and newspaper advertising revenues rose 7.1 percent.

          The strength for the month was mainly in Classified advertising revenues, which increased $1.1 million, or 10.1 percent, over 2003.  Including online advertising, the overall increase was 11.8 percent.  There were impressive gains in almost every market, driven mostly by help-wanted linage, with The Tampa Tribune posting an increase in Classified revenues of 13.4 percent.  Employment linage for the company’s three metropolitan newspapers, which typically slows seasonally in December, rose 16.2 percent, including increases of 29 percent at the Richmond Times-Dispatch, 6.8 percent at The Tampa Tribune, and 5.5 percent at the Winston-Salem Journal.  Richmond’s strong improvement was the result of lower unemployment rates that helped drive healthcare and state and governmental advertising as well as new advertising promotions in this category.  Results in automotive linage were mixed as The Tampa Tribune exceeded last year, while the Richmond Times-Dispatch and Winston-Salem Journal reported declines.  Real estate classifieds experienced solid gains in many markets, particularly the three metro newspapers.

          Retail ROP revenues continued to be soft and were about even for the month.  The Tampa Tribune reported a 14 percent increase, reflecting strength in the department store and medical categories, as well as Wal-Mart advertising.  The Richmond Times-Dispatch was down nearly 3 percent as advertising from the new malls in December 2003 was strong.  Media General newspapers in Northern Virginia and Charlottesville also posted gains for the month.  Retail, including preprints, exceeded last year by approximately 1 percent. 

          Preprint revenues, which were up $520,000, or 6.4 percent, contributed to the strength of December’s overall results.  About half of the increase came from The Tampa Tribune, and most other newspapers showed gains as well. 

          National ROP revenues declined $55,000, or 1.7 percent.  The shortfall was in Tampa, driven by lower telecommunications advertising, while other markets showed gains in the category.  National, including preprints, exceeded last year by 7.8 percent, or $280,000. 

          Circulation revenues were down slightly, mostly the result of volume declines.  

          In the Broadcast Division, gross time sales increased $1 million, or 4.5 percent.  Local time sales increased $1.4 million, or 9.8 percent, and reflected gains in the specialty stores, department stores, fast food and services categories that more than offset a decrease in the automotive category.  National time sales rose $384,000, or 5.4 percent, due to increases in automotive, corporate and fast food advertising that more than offset declines in the department store and appliance categories.

          As expected for December of 2004, Political revenues were absent whereas early presidential primary spending in the prior-year quarter generated revenues of $770,000.  

          Interactive Media Division revenues increased 63.3 percent to $1.2 million, driven by a 62 percent increase in Classified advertising, reflecting both rate increases and strong volume growth.  Local advertising revenues increased 70 percent. 


          About Media General
          Media General is a diversified communications company, operating leading newspapers, television stations and online enterprises primarily in the Southeastern United States.  The company’s publishing assets include three metropolitan newspapers, The Tampa Tribune, the Richmond Times-Dispatch, and the Winston-Salem Journal; 22 daily community newspapers in Virginia, North Carolina, Florida, Alabama and South Carolina; and more than 100 weekly newspapers and other publications.  The company’s broadcasting assets include 26 network-affiliated television stations that 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 interactive media assets include more than 50 online enterprises that are associated with its newspapers and television stations.  Media General also owns a 20 percent interest in The Denver Post and a 33 percent interest in SP Newsprint Company.

MEDIA GENERAL INC.

Revenues and Page Views

 

 

December

 

 

 

 

 

 

2004

 

2003

 

% Change

 

 

 

 

 

 

Revenues (000)

 

$

72,167

 

$

67,023

 

 

7.7

%

Publishing

 

 

46,327

 

 

43,941

 

 

5.4

%

Broadcast

 

 

25,015

 

 

22,607

 

 

10.7

%

Interactive Media

 

 

1,158

 

 

709

 

 

63.3

%

Eliminations

 

 

(333

)

 

(234

)

 

(42.3

)%

Selected Publishing Revenues (000)

 

 

 

 

 

 

 

 

 

 

By Category

 

 

 

 

 

 

 

 

 

 

Advertising

 

$

38,439

 

$

36,179

 

 

6.2

%

Classified

 

 

12,373

 

 

11,242

 

 

10.1

%

Retail

 

 

11,563

 

 

11,575

 

 

(0.1

)%

National

 

 

3,114

 

 

3,168

 

 

(1.7

)%

Preprints

 

 

8,669

 

 

8,146

 

 

6.4

%

Other

 

 

2,720

 

 

2,048

 

 

32.8

%

Circulation

 

 

6,848

 

 

6,883

 

 

(0.5

)%

By Property

 

 

 

 

 

 

 

 

 

 

Richmond

 

 

10,950

 

 

10,923

 

 

0.2

%

Tampa

 

 

14,874

 

 

13,541

 

 

9.8

%

Winston-Salem

 

 

4,494

 

 

4,441

 

 

1.2

%

Community Newspapers

 

 

15,798

 

 

14,784

 

 

6.9

%

Advertising Revenues (Dailies) (000)

 

 

 

 

 

 

 

 

 

 

Richmond

 

$

8,391

 

$

8,331

 

 

0.7

%

Tampa

 

 

13,463

 

 

12,177

 

 

10.6

%

Winston-Salem

 

 

3,669

 

 

3,682

 

 

(0.4

)%

Community Newspapers

 

 

11,218

 

 

10,302

 

 

8.9

%

Broadcast Time Sales (gross) (000)

 

$

22,987

 

$

21,989

 

 

4.5

%

Local

 

 

15,545

 

 

14,156

 

 

9.8

%

National

 

 

7,449

 

 

7,065

 

 

5.4

%

Political

 

 

(7

)

 

768

 

 

—  

 

Selected Online Total Page Views

 

 

 

 

 

 

 

 

 

 

TBO.com

 

 

15,102,136

 

 

12,025,915

 

 

25.6

%

(Tampa, Fla.)

 

 

 

 

 

 

 

 

 

 

timesdispatch.com

 

 

6,902,525

 

 

4,942,553

 

 

39.7

%

(Richmond, Va.)

 

 

 

 

 

 

 

 

 

 

JournalNow.com

 

 

2,880,611

 

 

2,471,579

 

 

16.5

%

(Winston-Salem, N.C.)

 

 

 

 

 

 

 

 

 

 


MEDIA GENERAL INC.

Revenues and Page Views

 

 

Year-to-Date

 

 

 

 

 

 

2004

 

2003

 

% Change

 

 

 

 

 

 

Revenues (000)

 

$

900,420

 

$

837,423

 

 

7.5

%

Publishing

 

 

566,487

 

 

544,059

 

 

4.1

%

Broadcast

 

 

323,653

 

 

286,233

 

 

13.1

%

Interactive Media

 

 

13,920

 

 

9,663

 

 

44.1

%

Eliminations

 

 

(3,640

)

 

(2,532

)

 

(43.8

)%

Selected Publishing Revenues (000)

 

 

 

 

 

 

 

 

 

 

By Category

 

 

 

 

 

 

 

 

 

 

Advertising

 

$

465,239

 

$

445,107

 

 

4.5

%

Classified

 

 

185,193

 

 

170,679

 

 

8.5

%

Retail

 

 

132,813

 

 

133,777

 

 

(0.7

)%

National

 

 

33,649

 

 

34,412

 

 

(2.2

)%

Preprints

 

 

86,759

 

 

84,039

 

 

3.2

%

Other

 

 

26,825

 

 

22,200

 

 

20.8

%

Circulation

 

 

89,025

 

 

87,355

 

 

1.9

%

By Property

 

 

 

 

 

 

 

 

 

 

Richmond

 

 

137,851

 

 

134,644

 

 

2.4

%

Tampa

 

 

178,681

 

 

169,950

 

 

5.1

%

Winston-Salem

 

 

53,771

 

 

53,644

 

 

0.2

%

Community Newspapers

 

 

193,959

 

 

183,852

 

 

5.5

%

Advertising Revenues (Dailies) (000)

 

 

 

 

 

 

 

 

 

 

Richmond

 

$

104,862

 

 

102,179

 

 

2.6

%

Tampa

 

 

160,735

 

 

153,222

 

 

4.9

%

Winston-Salem

 

 

43,725

 

 

43,544

 

 

0.4

%

Community Newspapers

 

 

134,327

 

 

125,744

 

 

6.8

%

Broadcast Time Sales (gross) (000)

 

$

323,608

 

$

282,647

 

 

14.5

%

Local

 

 

183,529

 

 

173,919

 

 

5.5

%

National

 

 

102,423

 

 

101,511

 

 

0.9

%

Political

 

 

37,656

 

 

7,217

 

 

—  

 

Selected Online Total Page Views

 

 

 

 

 

 

 

 

 

 

TBO.com

 

 

231,493,016

 

 

160,550,724

 

 

44.2

%

(Tampa, Fla.)

 

 

 

 

 

 

 

 

 

 

timesdispatch.com

 

 

81,767,495

 

 

75,529,011

 

 

8.3

%

(Richmond, Va.)

 

 

 

 

 

 

 

 

 

 

JournalNow.com

 

 

35,147,735

 

 

30,342,005

 

 

15.8

%

(Winston-Salem, N.C.)

 

 

 

 

 

 

 

 

 

 

          Notes: All data are subject to later adjustment, excludes discontinued operations.


MEDIA GENERAL INC.

Daily Newspapers Advertising Linage*

 

 

December

 

 

 

 

 

 

2004

 

2003

 

% Change

 

 

 

 

 

 

RICHMOND TIMES-DISPATCH

 

 

 

 

 

 

 

 

 

 

Retail

 

 

35,418

 

 

38,307

 

 

(7.5

)%

National

 

 

11,132

 

 

11,703

 

 

(4.9

)%

Classified

 

 

56,288

 

 

60,075

 

 

(6.3

)%

Total

 

 

102,838

 

 

110,085

 

 

(6.6

)%

TAMPA TRIBUNE

 

 

 

 

 

 

 

 

 

 

Retail

 

 

51,184

 

 

45,988

 

 

11.3

%

National

 

 

16,349

 

 

17,821

 

 

(8.3

)%

Classified

 

 

116,240

 

 

111,465

 

 

4.3

%

Total

 

 

183,773

 

 

175,274

 

 

4.8

%

WINSTON-SALEM JOURNAL

 

 

 

 

 

 

 

 

 

 

Retail

 

 

39,521

 

 

48,876

 

 

(19.1

)%

National

 

 

9,618

 

 

9,001

 

 

6.9

%

Classified

 

 

47,231

 

 

48,975

 

 

(3.6

)%

Total

 

 

96,370

 

 

106,852

 

 

(9.8

)%

COMMUNITY DAILIES

 

 

 

 

 

 

 

 

 

 

Retail

 

 

348,987

 

 

375,202

 

 

(7.0

)%

National

 

 

30,477

 

 

28,124

 

 

8.4

%

Classified

 

 

386,627

 

 

406,555

 

 

(4.9

)%

Total

 

 

766,091

 

 

809,881

 

 

(5.4

)%

MEDIA GENERAL DAILIES TOTAL

 

 

 

 

 

 

 

 

 

 

Retail

 

 

475,110

 

 

508,373

 

 

(6.5

)%

National

 

 

67,576

 

 

66,649

 

 

1.4

%

Classified

 

 

606,386

 

 

627,070

 

 

(3.3

)%

Total

 

 

1,149,072

 

 

1,202,092

 

 

(4.4

)%


MEDIA GENERAL INC.

Daily Newspapers Advertising Linage*

 

 

Year-to-Date

 

 

 

 

 

 

2004

 

2003

 

% Change

 

 

 

 

 

 

RICHMOND TIMES-DISPATCH

 

 

 

 

 

 

 

 

 

 

Retail

 

 

409,466

 

 

437,052

 

 

(6.3

)%

National

 

 

128,879

 

 

142,023

 

 

(9.3

)%

Classified

 

 

915,432

 

 

891,936

 

 

2.6

%

Total

 

 

1,453,777

 

 

1,471,011

 

 

(1.2

)%

TAMPA TRIBUNE

 

 

 

 

 

 

 

 

 

 

Retail

 

 

543,824

 

 

520,203

 

 

4.5

%

National

 

 

184,871

 

 

200,863

 

 

(8.0

)%

Classified

 

 

1,645,569

 

 

1,649,129

 

 

(0.2

)%

Total

 

 

2,374,264

 

 

2,370,195

 

 

0.2

%

WINSTON-SALEM JOURNAL

 

 

 

 

 

 

 

 

 

 

Retail

 

 

463,189

 

 

458,800

 

 

1.0

%

National

 

 

103,136

 

 

99,847

 

 

3.3

%

Classified

 

 

726,998

 

 

741,061

 

 

(1.9

)%

Total

 

 

1,293,323

 

 

1,299,708

 

 

(0.5

)%

COMMUNITY DAILIES

 

 

 

 

 

 

 

 

 

 

Retail

 

 

4,080,481

 

 

4,166,911

 

 

(2.1

)%

National

 

 

365,577

 

 

343,295

 

 

6.5

%

Classified

 

 

5,551,227

 

 

5,199,270

 

 

6.8

%

Total

 

 

9,997,285

 

 

9,709,476

 

 

3.0

%

MEDIA GENERAL DAILIES TOTAL

 

 

 

 

 

 

 

 

 

 

Retail

 

 

5,496,960

 

 

5,582,966

 

 

(1.5

)%

National

 

 

782,463

 

 

786,028

 

 

(0.5

)%

Classified

 

 

8,839,226

 

 

8,481,396

 

 

4.2

%

Total

 

 

15,118,649

 

 

14,850,390

 

 

1.8

%

*  Advertising is in column inches -- full run only

SOURCE  Media General, Inc.
          -0-                                                            01/27/2005
          /CONTACT:  Investors: Lou Anne J. Nabhan, +1-804-649-6103, or Media: Ray Kozakewicz, +1-804-649-6748, both of Media General, Inc./
          /First Call Analyst: /
          /FCMN Contact: etucker@mediageneral.com /
          /Web site:  http://www.mediageneral.com/