EX-99.2 3 mg5369ex992.htm EXHIBIT 99.2

Exhibit 99.2

Media General Reports March Revenues

          RICHMOND, Va., April 12 /PRNewswire-FirstCall/ -- Media General, Inc. (NYSE: MEG) today reported March 2006 total revenues of $74.3 million, a 3 percent increase from March 2005.  By business segment, Publishing Division revenues increased 4.5 percent, Broadcast Division revenues decreased 1.7 percent, and Interactive Media Division revenues rose 37.2 percent.

          In the Publishing Division, newspaper advertising revenues increased $2.5 million, or 6.4 percent, compared to March 2005. Including revenues from the company’s Web sites, newspaper advertising revenues rose 6.9 percent for March and total Publishing revenues increased 5 percent.

          Total Classified revenues for the month increased 16.7 percent, driven primarily by the Classified real estate category.  The strong Classified revenue growth in 2006 also reflected the fact that in 2005 Easter Sunday occurred in March.  Classified advertising tends to be lower than normal on Sundays that are also holidays. Newspaper Classified advertising rose 16.1 percent and online Classified advertising on the company’s Web sites increased 27.8 percent.

          Looking specifically at the company’s newspapers, Classified advertising revenues increased 32.1 percent at The Tampa Tribune and 13 percent at the Richmond Times-Dispatch.  At the Winston-Salem Journal, Classified revenues decreased 4.2 percent, due mostly to lower growth in real estate Classifieds than the other metropolitan markets.  The company’s Community newspapers were up 5.4 percent in the aggregate for Classified advertising.

          Employment linage at the company’s three metro newspapers increased nominally. At The Tampa Tribune, linage declined 13.8 percent, while revenues increased 7 percent due to a change in mix of advertisers that carried a higher average rate. At the Richmond Times-Dispatch, linage increased 7.3 percent and revenues were up 12.5 percent due to a higher average rate.  At the Winston-Salem Journal, employment linage increased 16.4 percent, while revenues declined 4 percent as a result of lower national employment advertising, which carries a higher average rate.

          Real estate linage increased 53.3 percent for the three markets combined and The Tampa Tribune nearly doubled its linage. The Richmond Times-Dispatch had 38 percent growth and the Winston-Salem Journal was up 16 percent.

          Continuing the trend of the last several months, automotive linage was down 18.3 percent in total for the three metros and reflected continued restraint by automotive dealers.

          Retail revenues for March increased $160,000, or 0.9 percent, and was softer, particularly preprints, due to Easter falling in April this year. Holiday-related Retail advertising typically occurs in the weeks just prior to the holiday. The Tampa Tribune and its associated daily newspapers reported a 3.4 percent increase due to higher spending in the furniture and financial categories. The Richmond Times-Dispatch had a 1.3 percent decline and the Winston-Salem Journal’s Retail revenues were even with last year. The Community newspapers had a 2.1 percent decrease in total Retail revenues, despite solid increases in Charlottesville and Northern Virginia.

          National revenues for the month decreased $350,000, or 9.9 percent.  Lower spending in the telecommunications and automotive categories led The Tampa Tribune, the Richmond Times-Dispatch and the Winston-Salem Journal to report declines of 4.2 percent, 13.4 percent and 22.5 percent, respectively.

          Circulation revenues for the month decreased $370,000, or 5.3 percent, nearly half of which was due to the continued roll-out of a change in wholesale rates to independent carriers at several newspapers. These rate changes also resulted in a dollar-for-dollar decrease in Circulation expense. Seven Media General newspapers posted increases in net paid daily Circulation for the month, while overall net paid circulation decreased slightly year-over-year. The rate change process is expected to be completed at all of the company’s newspapers by mid-2006.


          In the Broadcast Division, gross time sales of $24.5 million increased $260,000, or 1.1 percent.  Local time sales increased 3.7 percent, driven mostly by gains in fast food and services advertising.

          National time sales decreased $130,000, or 1.5 percent, and reflected lower spending in the automotive, corporate and specialty stores categories, partially offset by increases in telecommunications and services advertising.

          Political advertising revenues of $70,000 for the month were minimal, as expected, and were mostly derived from gubernatorial and local candidate advertising.

          Interactive Media Division revenues were $2.1 million, a 37.2 percent increase compared to the same month last year, and were driven by online Classifieds.  National advertising more than doubled. Unique visitors for the month increased 20 percent and represented approximately 6 million users coming to Media General Web sites for news, information, entertainment and advertising content. Page views and visitor sessions for the month increased 15 percent and 18 percent, respectively.

          About Media General

          Media General is a multimedia 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 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 75 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

 

 

March

 

 

 

 

 

 

2006

 

2005

 

% Change

 

 

 

 

 

 

Revenues (000)

 

$

74,253

 

$

72,099

 

 

3.0

%

Publishing

 

 

48,566

 

 

46,458

 

 

4.5

%

Broadcast

 

 

24,034

 

 

24,451

 

 

(1.7

)%

Interactive Media

 

 

2,142

 

 

1,561

 

 

37.2

%

Eliminations

 

 

(489

)

 

(371

)

 

(31.8

)%

Selected Publishing Revenues (000)

 

 

 

 

 

 

 

 

 

 

By Category

 

 

 

 

 

 

 

 

 

 

Advertising

 

$

40,779

 

$

38,314

 

 

6.4

%

Classified

 

 

19,139

 

 

16,488

 

 

16.1

%

Retail

 

 

17,740

 

 

17,580

 

 

0.9

%

National

 

 

3,203

 

 

3,555

 

 

(9.9

)%

Other

 

 

697

 

 

691

 

 

0.9

%

Circulation

 

 

6,515

 

 

6,882

 

 

(5.3

)%

By Property

 

 

 

 

 

 

 

 

 

 

Richmond

 

 

11,165

 

 

10,964

 

 

1.8

%

Tampa

 

 

17,125

 

 

15,373

 

 

11.4

%

Winston-Salem

 

 

4,189

 

 

4,341

 

 

(3.5

)%

Community Newspapers

 

 

15,858

 

 

15,578

 

 

1.8

%

Advertising Revenues (000)*

 

 

 

 

 

 

 

 

 

 

Richmond

 

$

8,856

 

$

8,485

 

 

4.4

%

Tampa

 

 

15,340

 

 

13,527

 

 

13.4

%

Winston-Salem

 

 

3,363

 

 

3,547

 

 

(5.2

)%

Community Newspapers

 

 

12,805

 

 

12,556

 

 

2.0

%

Broadcast Time Sales (gross) (000)

 

$

24,509

 

$

24,247

 

 

1.1

%

Local

 

 

16,260

 

 

15,687

 

 

3.7

%

National

 

 

8,181

 

 

8,309

 

 

(1.5

)%

Political

 

 

68

 

 

251

 

 

(72.9

)%

Selected Online Total Page Views

 

 

 

 

 

 

 

 

 

 

TBO.com (Tampa, Fla.)

 

 

15,687,285

 

 

20,743,693

 

 

(24.4

)%

TimesDispatch.com (Richmond, Va.)

 

 

11,274,595

 

 

8,535,331

 

 

32.1

%

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

 

 

4,020,138

 

 

3,531,155

 

 

13.8

%


 

 

Year-to-Date

 

 

 

 

 

 

2006

 

2005

 

% Change

 

 

 

 

 

 

Revenues (000)

 

$

226,404

 

$

217,907

 

 

3.9

%

Publishing

 

 

148,163

 

 

143,433

 

 

3.3

%

Broadcast

 

 

73,545

 

 

70,992

 

 

3.6

%

Interactive Media

 

 

6,195

 

 

4,546

 

 

36.3

%

Eliminations

 

 

(1,499

)

 

(1,064

)

 

(40.9

)%

Selected Publishing Revenues (000)

 

 

 

 

 

 

 

 

 

 

By Category

 

 

 

 

 

 

 

 

 

 

Advertising

 

$

123,544

 

$

117,908

 

 

4.8

%

Classified

 

 

57,405

 

 

51,606

 

 

11.2

%

Retail

 

 

53,398

 

 

52,600

 

 

1.5

%

National

 

 

10,894

 

 

11,914

 

 

(8.6

)%

Other

 

 

1,847

 

 

1,788

 

 

3.3

%

Circulation

 

 

21,192

 

 

22,266

 

 

(4.8

)%

By Property

 

 

 

 

 

 

 

 

 

 

Richmond

 

 

34,338

 

 

34,357

 

 

(0.1

)%

Tampa

 

 

52,270

 

 

47,690

 

 

9.6

%

Winston-Salem

 

 

12,876

 

 

13,134

 

 

(2.0

)%

Community Newspapers

 

 

48,185

 

 

47,677

 

 

1.1

%

Advertising Revenues (000)*

 

 

 

 

 

 

 

 

 

 

Richmond

 

$

26,851

 

$

26,418

 

 

1.6

%

Tampa

 

 

46,990

 

 

42,510

 

 

10.5

%

Winston-Salem

 

 

10,282

 

 

10,606

 

 

(3.1

)%

Community Newspapers

 

 

38,421

 

 

37,866

 

 

1.5

%

Broadcast Time Sales (gross) (000)

 

$

74,583

 

$

69,488

 

 

7.3

%

Local

 

 

48,636

 

 

45,553

 

 

6.8

%

National

 

 

25,700

 

 

23,612

 

 

8.8

%

Political

 

 

247

 

 

323

 

 

(23.5

)%

Selected Online Total Page Views

 

 

 

 

 

 

 

 

 

 

TBO.com (Tampa, Fla.)

 

 

49,050,453

 

 

52,974,230

 

 

(7.4

)%

TimesDispatch.com (Richmond, Va.)

 

 

35,624,111

 

 

25,359,831

 

 

40.5

%

JournalNow.com  (Winston-Salem, N.C.)

 

 

11,841,440

 

 

10,407,939

 

 

13.8

%

Notes: All data are subject to later adjustment.

* Amounts reflected included both daily and weekly newspapers.


MEDIA GENERAL INC.
Daily Newspapers Advertising Linage*

 

 

March

 

 

 

 

 

 

 

2006

 

 

2005

 

 

% Change

 

 

 

 

 

 

Richmond Times-Dispatch

 

 

 

 

 

 

 

 

 

 

Retail

 

 

29,171

 

 

28,918

 

 

0.9

%

National

 

 

9,270

 

 

10,686

 

 

(13.3

)%

Classified

 

 

74,518

 

 

72,486

 

 

2.8

%

Total

 

 

112,959

 

 

112,090

 

 

0.8

%

Tampa Tribune

 

 

 

 

 

 

 

 

 

 

Retail

 

 

44,222

 

 

48,235

 

 

(8.3

)%

National

 

 

13,031

 

 

15,071

 

 

(13.5

)%

Classified

 

 

140,661

 

 

129,247

 

 

8.8

%

Total

 

 

197,914

 

 

192,553

 

 

2.8

%

Winston-Salem Journal

 

 

 

 

 

 

 

 

 

 

Retail

 

 

34,438

 

 

38,320

 

 

(10.1

)%

National

 

 

8,479

 

 

10,618

 

 

(20.1

)%

Classified

 

 

55,361

 

 

59,992

 

 

(7.7

)%

Total

 

 

98,278

 

 

108,930

 

 

(9.8

)%

Community & Associates Dailies

 

 

 

 

 

 

 

 

 

 

Retail

 

 

310,789

 

 

315,044

 

 

(1.4

)%

National

 

 

17,555

 

 

27,793

 

 

(36.8

)%

Classified

 

 

416,611

 

 

426,309

 

 

(2.3

)%

Total

 

 

744,955

 

 

769,146

 

 

(3.1

)%

Media General Dailies Total

 

 

 

 

 

 

 

 

 

 

Retail

 

 

418,620

 

 

430,517

 

 

(2.8

)%

National

 

 

48,335

 

 

64,168

 

 

(24.7

)%

Classified

 

 

687,151

 

 

688,034

 

 

(0.1

)%

Total

 

 

1,154,106

 

 

1,182,719

 

 

(2.4

)%

 

 

Year-to-Date

 

 

 

 

 

 

2006

 

2005

 

% Change

 

 

 

 

 

 

Richmond Times-Dispatch

 

 

 

 

 

 

 

 

 

 

Retail

 

 

89,223

 

 

92,055

 

 

(3.1

)%

National

 

 

30,028

 

 

34,722

 

 

(13.5

)%

Classified

 

 

220,580

 

 

227,812

 

 

(3.2

)%

Total

 

 

339,831

 

 

354,589

 

 

(4.2

)%

Tampa Tribune

 

 

 

 

 

 

 

 

 

 

Retail

 

 

135,103

 

 

136,981

 

 

(1.4

)%

National

 

 

42,376

 

 

48,448

 

 

(12.5

)%

Classified

 

 

439,300

 

 

416,271

 

 

5.5

%

Total

 

 

616,779

 

 

601,700

 

 

2.5

%

Winston-Salem Journal

 

 

 

 

 

 

 

 

 

 

Retail

 

 

102,017

 

 

99,915

 

 

2.1

%

National

 

 

25,254

 

 

28,029

 

 

(9.9

)%

Classified

 

 

174,328

 

 

188,313

 

 

(7.4

)%

Total

 

 

301,599

 

 

316,257

 

 

(4.6

)%

Community & Associates Dailies

 

 

 

 

 

 

 

 

 

 

Retail

 

 

959,881

 

 

933,662

 

 

2.8

%

National

 

 

59,796

 

 

93,546

 

 

(36.1

)%

Classified

 

 

1,297,147

 

 

1,326,719

 

 

(2.2

)%

Total

 

 

2,316,824

 

 

2,353,927

 

 

(1.6

)%

Media General Dailies Total

 

 

 

 

 

 

 

 

 

 

Retail

 

 

1,286,224

 

 

1,262,613

 

 

1.9

%

National

 

 

157,454

 

 

204,745

 

 

(23.1

)%

Classified

 

 

2,131,355

 

 

2,159,115

 

 

(1.3

)%

Total

 

 

3,575,033

 

 

3,626,473

 

 

(1.4

)%

 

 

 

*  Advertising is in column inches - full run only

 

SOURCE  Media General, Inc.
          -0-                                        04/12/2006
          /CONTACT:  Investor Contact:  Lou Anne J. Nabhan, +1-804-649-6103, or Media Contact: Ray Kozakewicz, +1-804-649-6748, both of Media General/
          /First Call Analyst: /
          /FCMN Contact: etucker@mediageneral.com /
          /Web site:  http://www.mediageneral.com/