EX-99.2 3 mg4587ex992.htm EXHIBIT 99.2

Exhibit 99.2

Media General Reports December Revenues

          RICHMOND, Va., Jan. 26 /PRNewswire-FirstCall/ -- Media General, Inc. (NYSE: MEG) today reported that December 2005 revenues of $73.3 million increased 1.5 percent from December 2004.  On a divisional basis, Publishing’s total revenues showed a small decline of 0.4 percent, Broadcast revenues increased 3.3 percent and Interactive Media revenues rose 42.5 percent.

          In the Publishing Division, newspaper advertising revenues increased $270,000, or 0.7 percent, compared to a strong December 2004.  Including revenues from the company’s newspaper Web sites, newspaper advertising revenues rose 1.3 percent for December and total Publishing revenues increased 0.1 percent.

          Classified revenues increased $260,000, or 2 percent.  Including online advertising, total Classified revenues increased 3.6 percent in December.  Employment linage at The Tampa Tribune increased 9.1 percent and rose 12.3 percent at the Winston-Salem Journal.  The Richmond Times-Dispatch posted a 1.9 percent decline mostly due to lower employment advertising by state and local governments and schools.

          At The Tampa Tribune, total Classified advertising revenues increased 4.1 percent, the Richmond Times-Dispatch was even with last year, and the Winston-Salem Journal was down 1.7 percent.  Community newspapers were up 0.8 percent.

          For the company’s three metro newspapers, employment linage increased 4.2 percent and real estate linage rose 31.7 percent.  Automotive linage was down 17 percent, similar to the last several months, due to automotive dealers continuing to hold back on spending.

          Retail revenues decreased $30,000 or 0.2 percent.  The Tampa Tribune’s retail revenues were below last year by 1.4 percent, mostly the result of declines in the department store category.  Retail revenues at the Richmond Times-Dispatch declined 7.5 percent, primarily due to decreases in the department and jewelry store categories. The Winston-Salem Journal was up 3.7 percent, reflecting higher spending in the department store, sporting goods and jewelry store categories. Community newspaper Retail revenues were up 1.2 percent.

          National revenues declined $80,000, or 2 percent.  The Tampa Tribune’s National revenues were even with last year, while the Richmond Times-Dispatch reported a 2.3 percent decline, reflecting lower spending in the telecommunications category, and the Winston-Salem Journal had a 14.7 percent decrease, also the result of lower telecommunications advertising as well as a decrease in National automotive advertising.

          Due primarily to a change in wholesale rates to independent carriers, for which there was a corresponding expense decrease, Circulation revenues were down 5.7 percent, or $390,000, from last year.  While some Media General newspapers experienced circulation volume declines in December, 11 newspapers reported Daily circulation volume growth and five newspapers did so for Sunday.

          Gross time sales in the Broadcast Division of $25.1 million were up $2.1 million, or 9.2 percent, due to strong Local and National time sales growth. In December, Political spending was minimal in this off-election year.


          Local time sales grew $1.4 million, or 9.3 percent, driven by new business development initiatives, particularly at the company’s Tampa, Spartanburg, Birmingham, Roanoke and Florence stations.  There were advances in the furniture, automotive, financial, department store and telecommunications categories.

           National time sales increased $670,000, or 9 percent.  This increase was due primarily to higher spending in the department store, telecommunications and automotive categories, which offset decreases in fast food and specialty store advertising. 

          Interactive Media Division revenues rose 42.5 percent to $1.7 million, fueled by a 35.7 percent increase in Classified advertising, led by employment, as well as a strong performance in various new products and a 19.1 percent increase in Local advertising.  Revenues from Blockdot, acquired in July 2005, also contributed to the growth.

          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, Richmond Times-Dispatch, and 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 33 percent interest in SP Newsprint Company, a manufacturer of recycled newsprint.

MEDIA GENERAL INC.
Revenues and Page Views

 

 
December
      

 

 
     

 

 

2005

 

2004

 

% Change

 

 

 

 

 

 

Revenues (000)

 

$

73,259

 

$

72,167

 

 

1.5

%

Publishing

 

 

46,132

 

 

46,327

 

 

(0.4

)%

Broadcast

 

 

25,845

 

 

25,015

 

 

3.3

%

Interactive Media

 

 

1,650

 

 

1,158

 

 

42.5

%

Eliminations

 

 

(368

)

 

(333

)

 

(10.5

)%

Selected Publishing Revenues (000)

 

 

 

 

 

 

 

 

 

 

By Category

 

 

 

 

 

 

 

 

 

 

Advertising

 

$

38,713

 

$

38,440

 

 

0.7

%

Classified

 

 

13,273

 

 

13,017

 

 

2.0

%

Retail

 

 

20,335

 

 

20,367

 

 

(0.2

)%

National

 

 

4,047

 

 

4,131

 

 

(2.0

)%

Other

 

 

1,058

 

 

925

 

 

14.4

%

Circulation

 

 

6,460

 

 

6,848

 

 

(5.7

)%

By Property

 

 

 

 

 

 

 

 

 

 

Richmond

 

 

10,277

 

 

10,950

 

 

(6.1

)%

Tampa

 

 

15,055

 

 

14,874

 

 

1.2

%

Winston-Salem

 

 

4,473

 

 

4,494

 

 

(0.5

)%

Community Newspapers

 

 

16,039

 

 

15,798

 

 

1.5

%

Advertising Revenues (000)

 

 

 

 

 

 

 

 

 

 

Richmond

 

$

8,003

 

$

8,391

 

 

(4.6

)%

Tampa

 

 

13,628

 

 

13,463

 

 

1.2

%

Winston-Salem

 

 

3,653

 

 

3,669

 

 

(0.4

)%

Community Newspapers

 

 

12,988

 

 

12,710

 

 

2.2

%

Broadcast Time Sales (gross) (000)

 

$

25,108

 

$

22,987

 

 

9.2

%

Local

 

 

16,986

 

 

15,545

 

 

9.3

%

National

 

 

8,118

 

 

7,449

 

 

9.0

%

Political

 

 

4

 

 

(7

)

 

—  

 

Selected Online Total Page Views

 

 

 

 

 

 

 

 

 

 

TBO.com (Tampa, Fla.)

 

 

16,698,444

 

 

15,102,136

 

 

10.6

%

TimesDispatch.com (Richmond, Va.)

 

 

8,467,655

 

 

6,902,525

 

 

22.7

%

JournalNow.com (Winston-Salem, N.C.)

 

 

3,372,323

 

 

2,880,611

 

 

17.1

%

Notes:   All data are subject to later adjustment.


MEDIA GENERAL INC.
Revenues and Page Views

   
Year-to-Date
      
   
     

 

 

2005

 

2004

 

% Change

 

 

 

 

 

 

Revenues (000)

 

$

917,937

 

$

900,420

 

 

1.9

%

Publishing

 

 

587,849

 

 

566,487

 

 

3.8

%

Broadcast

 

 

314,412

 

 

323,653

 

 

(2.9

)%

Interactive Media

 

 

20,487

 

 

13,920

 

 

47.2

%

Eliminations

 

 

(4,811

)

 

(3,640

)

 

(32.2

)%

Selected Publishing Revenues (000)

 

 

 

 

 

 

 

 

 

 

By Category

 

 

 

 

 

 

 

 

 

 

Advertising

 

$

489,948

 

$

465,240

 

 

5.3

%

Classified

 

 

209,964

 

 

193,942

 

 

8.3

%

Retail

 

 

226,471

 

 

219,739

 

 

3.1

%

National

 

 

45,541

 

 

44,163

 

 

3.1

%

Other

 

 

7,972

 

 

7,396

 

 

7.8

%

Circulation

 

 

85,101

 

 

89,025

 

 

(4.4

)%

By Property

 

 

 

 

 

 

 

 

 

 

Richmond

 

 

138,970

 

 

137,851

 

 

0.8

%

Tampa

 

 

191,987

 

 

178,681

 

 

7.4

%

Winston-Salem

 

 

54,307

 

 

53,771

 

 

1.0

%

Community Newspapers

 

 

200,104

 

 

193,959

 

 

3.2

%

Advertising Revenues (000)

 

 

 

 

 

 

 

 

 

 

Richmond

 

$

108,119

 

$

104,862

 

 

3.1

%

Tampa

 

 

173,676

 

 

160,735

 

 

8.1

%

Winston-Salem

 

 

43,945

 

 

43,725

 

 

0.5

%

Community Newspapers

 

 

160,368

 

 

153,794

 

 

4.3

%

Broadcast Time Sales (gross) (000)

 

$

313,639

 

$

323,608

 

 

(3.1

)%

Local

 

 

206,323

 

 

183,529

 

 

12.4

%

National

 

 

105,135

 

 

102,423

 

 

2.6

%

Political

 

 

2,181

 

 

37,656

 

 

(94.2

)%

Selected Online Total Page Views

 

 

 

 

 

 

 

 

 

 

TBO.com (Tampa, Fla.)

 

 

228,815,803

 

 

231,493,016

 

 

(1.2

)%

TimesDispatch.com (Richmond, Va.)

 

 

106,937,752

 

 

81,767,495

 

 

30.8

%

JournalNow.com (Winston-Salem, N.C.)

 

 

43,929,947

 

 

35,147,735

 

 

25.0

%

Notes:   All data are subject to later adjustment.


MEDIA GENERAL INC.
Daily Newspapers Advertising Linage*

   
December
      
   
     

 

 

2005

 

2004

 

% Change

 

 

 

 

 

 

RICHMOND TIMES-DISPATCH

 

 

 

 

 

 

 

 

 

 

Retail

 

 

30,885

 

 

35,418

 

 

(12.8

)%

National

 

 

9,715

 

 

11,132

 

 

(12.7

)%

Classified

 

 

50,895

 

 

56,288

 

 

(9.6

)%

Total

 

 

91,495

 

 

102,838

 

 

(11.0

)%

TAMPA TRIBUNE

 

 

 

 

 

 

 

 

 

 

Retail

 

 

49,010

 

 

51,184

 

 

(4.2

)%

National

 

 

17,072

 

 

16,349

 

 

4.4

%

Classified

 

 

116,950

 

 

116,240

 

 

0.6

%

Total

 

 

183,032

 

 

183,773

 

 

(0.4

)%

WINSTON-SALEM JOURNAL

 

 

 

 

 

 

 

 

 

 

Retail

 

 

41,994

 

 

39,521

 

 

6.3

%

National

 

 

8,217

 

 

9,618

 

 

(14.6

)%

Classified

 

 

46,471

 

 

47,231

 

 

(1.6

)%

Total

 

 

96,682

 

 

96,370

 

 

0.3

%

COMMUNITY & ASSOCIATES DAILIES

 

 

 

 

 

 

 

 

 

 

Retail

 

 

354,914

 

 

348,987

 

 

1.7

%

National

 

 

28,915

 

 

30,477

 

 

(5.1

)%

Classified

 

 

345,950

 

 

386,627

 

 

(10.5

)%

Total

 

 

729,779

 

 

766,091

 

 

(4.7

)%

MEDIA GENERAL DAILIES TOTAL

 

 

 

 

 

 

 

 

 

 

Retail

 

 

476,803

 

 

475,110

 

 

0.4

%

National

 

 

63,919

 

 

67,576

 

 

(5.4

)%

Classified

 

 

560,266

 

 

606,386

 

 

(7.6

)%

Total

 

 

1,100,988

 

 

1,149,072

 

 

(4.2

)%

*

Advertising is in column inches — full run only


MEDIA GENERAL INC.
Daily Newspapers Advertising Linage*

   
Year-to-Date
      
   
     

 

 

2005

 

2004

 

% Change

 

 

 

 

 

 

RICHMOND TIMES-DISPATCH

 

 

 

 

 

 

 

 

 

 

Retail

 

 

379,846

 

 

409,466

 

 

(7.2

)%

National

 

 

123,406

 

 

128,879

 

 

(4.2

)%

Classified

 

 

898,985

 

 

915,432

 

 

(1.8

)%

Total

 

 

1,402,237

 

 

1,453,777

 

 

(3.5

)%

TAMPA TRIBUNE

 

 

 

 

 

 

 

 

 

 

Retail

 

 

559,827

 

 

543,824

 

 

2.9

%

National

 

 

186,811

 

 

184,871

 

 

1.0

%

Classified

 

 

1,653,673

 

 

1,645,569

 

 

0.5

%

Total

 

 

2,400,311

 

 

2,374,264

 

 

1.1

%

WINSTON-SALEM JOURNAL

 

 

 

 

 

 

 

 

 

 

Retail

 

 

445,451

 

 

463,189

 

 

(3.8

)%

National

 

 

104,856

 

 

103,136

 

 

1.7

%

Classified

 

 

734,889

 

 

726,998

 

 

1.1

%

Total

 

 

1,285,196

 

 

1,293,323

 

 

(0.6

)%

COMMUNITY & ASSOCIATES DAILIES

 

 

 

 

 

 

 

 

 

 

Retail

 

 

4,074,576

 

 

4,080,481

 

 

(0.1

)%

National

 

 

348,336

 

 

365,577

 

 

(4.7

)%

Classified

 

 

5,314,619

 

 

5,551,227

 

 

(4.3

)%

Total

 

 

9,737,531

 

 

9,997,285

 

 

(2.6

)%

MEDIA GENERAL DAILIES TOTAL

 

 

 

 

 

 

 

 

 

 

Retail

 

 

5,459,700

 

 

5,496,960

 

 

(0.7

)%

National

 

 

763,409

 

 

782,463

 

 

(2.4

)%

Classified

 

 

8,602,166

 

 

8,839,226

 

 

(2.7

)%

Total

 

 

14,825,275

 

 

15,118,649

 

 

(1.9

)%

*

Advertising is in column inches — full run only

SOURCE  Media General, Inc.
          -0-                                                  01/26/2006
          /CONTACT:  Investor Contact: Lou Anne J. Nabhan, +1-804-649-6103, or Media Contact: 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 /