10-Q

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, DC. 20549

Form 10-Q

[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended September 30, 2013

OR

[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from            to           

Commission file number:       1-6383

MEDIA GENERAL, INC.

(Exact name of registrant as specified in its charter)

Commonwealth of Virginia (State or other jurisdiction of incorporation or organization)	54-0850433 (I.R.S. Employer Identification No.)
333 E. Franklin St., Richmond, VA (Address of principal executive offices)	23219 (Zip Code)

               

(804) 887-5000

(Registrant's telephone number, including area code)

N/A

(Former name, former address and former fiscal year,

if changed since last report.)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

Yes          X          No               

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate website, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).

Yes          X          No               

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company (as defined in Rule 12b-2 of the Exchange Act).

Larger accelerated filer	Accelerated filer	X
Non-accelerated filer	Smaller reporting company

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

Yes                    No          X     

Indicate the number of shares outstanding of each of the issuer's classes of common stock as of October 31, 2013.

Class A Common shares:	27,632,216
Class B Common shares:	548,564

MEDIA GENERAL, INC.

TABLE OF CONTENTS

FORM 10-Q REPORT

September 30, 2013

			Page
Part I.	Financial Information
	Item 1.	Financial Statements
		Consolidated Condensed Balance Sheets – September 30, 2013 and December 31, 2012	1
		Consolidated Condensed Statements of Operations – Three and nine months ended September 30, 2013 and September 23, 2012	3
		Consolidated Condensed Statements of Comprehensive Income (Loss) – Three and nine months ended September 30, 2013 and September 23, 2012	4
		Consolidated Condensed Statements of Cash Flows – Nine months ended September 30, 2013 and September 23, 2012	5
		Notes to Consolidated Condensed Financial Statements	6
	Item 2.	Management's Discussion and Analysis of Financial Condition	22
	Item 3.	Quantitative and Qualitative Disclosure About Market Risk	29
	Item 4.	Controls and Procedures	29
Part II.	Other Information
	Item 6.	Exhibits	30
		(a)    Exhibits
Signatures			31

 

PART I - FINANCIAL INFORMATION

Item 1.          Financial Statements

MEDIA GENERAL, INC.

CONSOLIDATED CONDENSED BALANCE SHEETS

(Unaudited)

(000s except shares and per share data)

	September 30, 2013		December 31, 2012
ASSETS
Current assets:
Cash and cash equivalents	$	15,415	$	36,802
Accounts receivable - net		58,667		58,486
Other		18,798		18,493
Assets of discontinued operations		-		670
Total current assets		92,880		114,451
Other assets		50,563		45,462
Property, plant and equipment - net		160,353		166,105
FCC licenses and other intangibles - net		198,931		200,254
Excess of cost over fair value of net identifiable assets of acquired businesses		247,149		247,149
Total assets	$	749,876	$	773,421

See accompanying notes.

1

MEDIA GENERAL, INC.

CONSOLIDATED CONDENSED BALANCE SHEETS

(Unaudited)

(000s except shares and per share data)

	September 30, 2013			December 31, 2012
LIABILITIES AND STOCKHOLDERS' DEFICIT
Current liabilities:
Accounts payable	$	11,920		$	11,669
Accrued expenses and other liabilities		44,200			64,362
Liabilities of discontinued operations		-			467
Total current liabilities		56,120			76,498
Long-term debt		296,459			295,721
Long-term debt - related party		291,934			257,466
Retirement, post-retirement and post-employment plans		232,650			242,309
Deferred income taxes		68,091			58,865
Other liabilities and deferred credits		21,811			18,786
Stockholders' deficit:
Preferred stock, par value $5 per share, authorized 5,000,000 shares; none outstanding
Common stock, par value $5 per share:
Class A, authorized 75,000,000 shares; issued 27,605,235 and 27,215,117 shares		138,026			136,076
Class B, authorized 600,000 shares; issued 548,564 shares		2,743			2,743
Additional paid-in capital		24,794			23,024
Accumulated other comprehensive loss		(215,884	)		(219,656	)
Accumulated deficit		(166,868	)		(118,411	)
Total stockholders' deficit		(217,189	)		(176,224	)
Total liabilities and stockholders' deficit	$	749,876		$	773,421

See accompanying notes.

2

MEDIA GENERAL, INC.

CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS

(Unaudited)

(000s except per share data)

	Three Months Ended						Nine Months Ended
	Sept. 30, 2013			Sept. 23, 2012			Sept. 30, 2013			Sept. 23, 2012
Station revenue (less agency commissions)	$	78,489		$	93,752		$	234,448		$	251,064
Operating costs:
Station production expenses		31,973			31,458			95,388			92,359
Station selling, general and administrative expenses		23,300			21,505			69,055			63,473
Corporate and other expenses		7,833			12,093			24,621			31,604
Depreciation and software amortization		5,516			5,533			16,673			17,124
Amortization of intangible assets		441			442			1,323			2,196
Net loss (gain) related to fixed assets		10			218			78			(32	)
Merger-related expenses		1,218			-			8,389			-
Total operating costs		70,291			71,249			215,527			206,724
Operating income		8,198			22,503			18,921			44,340
Other income (expense):
Interest expense		(9,960	)		(9,497	)		(28,781	)		(41,410	)
Interest expense - related party		(10,379	)		(10,723	)		(30,297	)		(15,618	)
Debt modification and extinguishment costs		-			(17,318	)		-			(35,415	)
Other, net		42			40			(132	)		452
Total other expense		(20,297	)		(37,498	)		(59,210	)		(91,991	)
Loss from continuing operations before income taxes		(12,099	)		(14,995	)		(40,289	)		(47,651	)
Income tax expense		2,517			3,406			7,725			10,223
Loss from continuing operations		(14,616	)		(18,401	)		(48,014	)		(57,874	)
Discontinued operations:
Loss from discontinued operations (net of taxes)		-			(1,038	)		(413	)		(10,588	)
Loss related to divestiture of discontinued operations (net of taxes)		-			(10,894	)		(30	)		(142,591	)
Net loss	$	(14,616	)	$	(30,333	)	$	(48,457	)	$	(211,053	)
Net loss per common share:
Loss from continuing operations	$	(0.53	)	$	(0.81	)	$	(1.74	)	$	(2.56	)
Loss from discontinued operations		-			(0.53	)		(0.02	)		(6.79	)
Net loss per common share – basic and assuming dilution	$	(0.53	)	$	(1.34	)	$	(1.76	)	$	(9.35	)

See accompanying notes.

3

MEDIA GENERAL, INC.

CONSOLIDATED CONDENSED STATEMENTS OF

COMPREHENSIVE INCOME (LOSS)

(Unaudited)

(000s)

	Three Months Ended						Nine Months Ended
	Sept. 30, 2013			Sept. 23, 2012			Sept. 30, 2013			Sept. 23, 2012
Net loss	$	(14,616	)	$	(30,333	)	$	(48,457	)	$	(211,053	)
Amortization of prior-service costs (postretirement plans)		22			-			68			-
Amortization of actuarial net loss (pension and postretirement plans)		1,945			-			5,832			-
Other comprehensive income before income taxes		1,967			-			5,900			-
Income tax expense related to other comprehensive income		767			-			2,128			-
Other comprehensive income, net of taxes		1,200			-			3,772			-
Comprehensive loss	$	(13,416	)	$	(30,333	)	$	(44,685	)	$	(211,053	)

See accompanying notes.

4

MEDIA GENERAL, INC.

CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS

(Unaudited) 

(000s)

	Nine Months Ended
	Sept. 30, 2013			Sept. 23, 2012
Operating activities:
Net loss	$	(48,457	)	$	(211,053	)
Adjustments to reconcile net loss:
Depreciation and software amortization		16,673			24,759
Amortization of intangible assets		1,323			2,332
Deferred income taxes		9,853			15,021
Intraperiod tax allocation		(2,128	)		-
Loss related to divestiture of discontinued operations (net of taxes)		30			142,591
Goodwill and other asset impairment (net of taxes)		-			6,472
Non-cash interest expense		7,036			6,773
Debt modification and extinguishment costs		-			35,415
Change in assets and liabilities:
Company owned life insurance (cash surrender value less policy loans including repayments)		8,965			(949	)
Accounts receivable		584			5,439
Accounts payable, accrued expenses, and other liabilities		(23,034	)		2,507
Retirement plan contributions		(3,803	)		(9,097	)
Other, net		5,135			(1,775	)
Net cash (used) provided by operating activities		(27,823	)		18,435
Investing activities:
Capital expenditures		(11,788	)		(7,263	)
Collateral refund (deposit) related to letters of credit		1,366			(10,271	)
Net proceeds from sales of discontinued operations		-			139,902
Other, net		(68	)		1,986
Net cash (used) provided by investing activities		(10,490	)		124,354
Financing activities:
Increase in borrowings		-			13,000
Increase in related party borrowings		40,000			382,500
Repayment of borrowings		-			(377,298	)
Repayment of related party borrowings		(10,000	)		(126,963	)
Debt issuance costs		(16,243	)		(28,772	)
Other, net		3,169			86
Net cash provided (used) by financing activities		16,926			(137,447	)
Net (decrease) increase in cash and cash equivalents		(21,387	)		5,342
Cash and cash equivalents at beginning of period		36,802			23,108
Cash and cash equivalents at end of period	$	15,415		$	28,450
Cash paid for interest	$	60,586		$	52,599
Non-cash financing activities:
Issuance of common stock warrants	$	-		$	(16,912	)

See accompanying notes.

5

 MEDIA GENERAL, INC.

NOTES TO CONSOLIDATED CONDENSED FINANCIAL STATEMENTS

(Unaudited)

1.     The accompanying unaudited consolidated condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States and with applicable quarterly reporting regulations of the Securities and Exchange Commission. They do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements and, accordingly, should be read in conjunction with the consolidated financial statements and related footnotes included in the Company's Annual Report on Form 10-K for the year ended December 31, 2012.

Beginning with the full-year 2013, Media General's fiscal year is a conventional calendar year (January 1 – December 31). Previously, the Company's fiscal year ended on the last Sunday in December. Results for 2013 are for the three and nine calendar months ended September 30, 2013. Results for 2012 are for the thirteen and thirty-nine week periods ended September 23, 2012.

As explained further below, the Company has presented all newspapers, its former Advertising Services businesses and its Production Services company as discontinued operations for all periods presented. In the opinion of management, all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation of interim financial information have been included.   

2.     On June 6, 2013, the Company and New Young Broadcasting Holding Co., Inc. (Young) announced an agreement to combine the two companies in an all-stock merger transaction. Under the merger agreement, the Company will reclassify each outstanding share of its Class A and Class B common stock into one share of a new class of Media General voting common stock, which will be entitled to elect all of Media General’s directors. One holder of shares of Class A common stock will receive (certain of their) shares in a separate class of unlisted Media General non-voting common stock. Each share of Media General non-voting common stock will be convertible into one share of voting common stock and each share of Media General voting common stock will be convertible into one share of non-voting common stock, in each case subject to certain limitations to be reflected in the Articles of Incorporation. No additional consideration will be paid to the Class B shareholders for giving up their right to directly elect 70% of Media General’s directors. Media General will issue to Young’s equityholders approximately 60.2 million shares of Media General voting common stock (or, to the extent elected by Young’s equityholders, shares of Media General non-voting common stock). It is estimated that immediately following closing, the shareholders of Media General immediately prior to closing will hold approximately 32.5% of the fully diluted shares of the Company and the equityholders of Young immediately prior to closing will hold approximately 67.5% of the fully diluted shares of the Company. The new class of Media General voting common stock is expected to be listed on the NYSE and trade under the symbol MEG. The transaction has been unanimously approved by the Media General Board of Directors and the Young Board of Directors. It also has received the necessary approval of Young’s equityholders. The combined company will retain the Media General name and will be headquartered in Richmond, Virginia. The closing of the transaction is subject to the approval of various matters relating to the transaction by Media General’s Class A and Class B shareholders and the satisfaction of other customary conditions. The Company has called a Special Meeting of its shareholders to be held on November 7, 2013, to consider and vote on matters necessary to complete the transaction contemplated by the merger agreement. The Company expects to complete the transaction in November of 2013, if its shareholders provide approval at the Special Meeting and FCC approval is received, as expected. The Company incurred $1.2 million and $8.4 million, respectively, of investment banking, legal and accounting fees and expenses for the three and nine months ended September 30, 2013 related to the pending merger with Young.

The merger will be accounted for as a reverse acquisition in accordance with FASB Accounting Standards Codification Topic 805 (ASC 805), Business Combination. For financial reporting purposes, Young will be the acquirer and the continuing reporting entity. Consequently, the reports filed by Media General, the legal acquirer and the continuing public corporation in the transaction, after the date of the transaction will be prepared with Young as the successor entity. Accordingly, prior period financial information presented in the Media General financial statements will reflect the historical activity of Young.

6

3.     On July 31, 2013, the Company entered into a new credit agreement with a syndicate of lenders, the funding of which is contingent upon successful completion of the merger with Young, which will provide the combined company with a $60 million revolving credit facility and an $885 million term loan. The revolving credit facility has a term of five years and will bear interest at LIBOR plus a margin of 2.75%. The $885 million term loan has a term of seven years and will bear interest at LIBOR (with a LIBOR floor of 1%)plus a margin of 3.25%. The Company paid approximately $16 million of transaction-related fees in the third quarter. The Company also incurred $0.5 million of fees on the unfunded term loan commitment during the third quarter. The fees will continue to accrue at an annual rate of 3.25% of the unfunded term loan commitment until the Company fully draws down the term loan. When drawn following the merger, the new credit agreement will be guaranteed by the combined company and its subsidiaries, and secured by liens on substantially all of the assets of the combined company.

Shield Media LLC (and its subsidiary WXXA-TV LLC) and Shield Media Lansing (and its subsidiary WLAJ-TV LLC) (collectively, “Shield Media”), companies controlling subsidiaries with which Young has shared services arrangements for two stations, entered into a new credit agreement with a syndicate of lenders, dated July 31, 2013, contingent on successful completion of the Young merger, which will refinance its outstanding aggregate $32 million term loans under one credit agreement. The existing Shield Media term loans are guaranteed on a secured basis by Young which will continue to provide its guarantee, secured by the same collateral, for the combined refinanced facility. The new Shield Media term loan has a term of five years and will bear interest at LIBOR plus a margin of 3.25%. Upon completion of the merger and repayment of the 11.75% senior secured notes, the new Shield Media term loan will be guaranteed by the combined company and its subsidiaries. These guarantees will be secured by liens on substantially all of the assets of the combined company, on a pari passu basis with the new Media General credit agreement.

The new Media General credit agreement contains a leverage ratio covenant, which involves debt levels and a rolling eight-quarter calculation of EBITDA, as defined in the agreement. Additionally, the agreement has restrictions on certain transactions including the incurrence of additional debt, capital leases, investments, additional acquisitions, asset sales and restricted payments (including dividends and share repurchases) as defined in the agreement. The new Shield Media credit agreement contains a fixed charge coverage ratio, a financial covenant that is meant to measure whether the borrowers can satisfy their fixed charges (interest, debt payments, capital expenditures and taxes) when due by measuring fixed charges to EBITDA, calculated on a rolling eight-quarter basis, as defined in the agreement.   The agreement also has restrictions on transactions similar in nature to those in the new Media General credit agreement, but scaled to Shield Media’s smaller size.  Additionally, the agreement has more specific covenants regarding the operation of the Shield Media business and requires that each Shield Media holding company that controls a Shield Media station limit its activities to performance of its obligations under the Shield Media credit documents, and activities incidental thereto, including owning a Shield Media station and performance of its obligations under and activities related to the shared services agreement. Both the Media General and Shield Media credit agreements contain cross-default provisions.

The Company anticipates borrowing under the new Media General credit agreement and the new Shield Media credit agreement in order to repay the existing debt of both Media General and Young shortly after the merger closes.

7

Long-term debt at September 30, 2013, and December 31, 2012, was as follows:

 

(In thousands)	Sept. 30, 2013			Dec. 31, 2012
Term loan:
Face value	$	301,537		$	301,537
Remaining original issue discount		(28,808	)		(32,058	)
Remaining warrant discount		(10,795	)		(12,013	)
Carrying value		261,934			257,466
Revolving credit facility ($15 million remaining availability at 9/30/2013)		30,000			-
11.75% senior secured notes:
Face value		299,800			299,800
Remaining original issue discount		(3,346	)		(4,091	)
Carrying value		296,454			295,709
Capital lease liability		5			12
Total carrying value	$	588,393		$	553,187

As of September 30, 2013, the Company had in place a term loan with a face value of $302 million and a revolving credit facility with a $30 million outstanding balance and remaining availability of $15 million. Also outstanding were 11.75% senior secured notes with a face value of $300 million that were issued at a price equal to 97.69% of face value. The Company’s term loan with Berkshire Hathaway as lender, matures in May 2020 and bears an interest rate of 10.5% but the rate could decrease to 9% based on the Company’s leverage ratio, as defined in the agreement. The Company was in compliance with the provisions of both agreements at September 30, 2013.

In May 2012, the Company consummated a financing arrangement with BH Finance LLC, an affiliate of Berkshire Hathaway, that provided the Company with a $400 million term loan and a $45 million revolving credit facility. The Company subsequently repaid approximately $98 million of principal on the term loan. The term loan was issued at a discount of 11.5% and was secured pari passu with the Company’s existing 11.75% senior secured notes due 2017. While the financing arrangement does not contain financial covenants, there are restrictions, in whole or in part, on certain activities including the incurrence of additional debt, repurchase of shares and the payment of dividends. The term loan may be repaid voluntarily prior to maturity, in whole or in part, at a price equal to 100% of the principal amount repaid plus accrued and unpaid interest, plus a premium, which starts at 14.5% and steps down over time beginning in May 2016, as set forth in the agreement. Other factors, such as the sale of assets, may result in a mandatory prepayment or an offer to prepay a portion of the term loan without premium or penalty. The Company considers the prepayment feature to be an embedded derivative which it bifurcates from the term loan when the fair value is determinable. The term loan and revolving credit facility mature in May 2020 and are guaranteed by the Company’s subsidiaries. The revolving credit facility bears interest at a rate of 10% and is subject to a 2% fee on the unused portion of the commitment. The Company also issued common stock warrants to purchase 4.6 million shares of common stock to Berkshire Hathaway in conjunction with the financing. The warrants were exercised subsequently.

On or before February 15, 2014, the 11.75% senior secured notes can be redeemed at a price equal to 100% of the outstanding principal, plus the present value of the semi-annual interest payment due February 15, 2014, plus a call premium of 5.875% of the outstanding principal.

8

The early repayment of debt in the third quarter of 2012 resulted in debt modification and extinguishment costs of $17.3 million due to the accelerated recognition of a pro rata portion of discounts and deferred issuance costs. In the second quarter of 2012, in conjunction with the secured financing with Berkshire Hathaway and the repayment of the previous credit facility the Company recorded debt modification and extinguishment costs of $7.7 million, primarily due to the write-off of unamortized fees related to the former credit agreement.  In addition, the Company capitalized $11.5 million of advisory and legal fees related to the Berkshire Hathaway financing; these fees are amortized as interest expense over the term of the financing arrangement.  In March of 2012, the Company amended its previous bank credit agreement which resulted in $10.4 million of debt modification and extinguishment costs including certain advisory, arrangement and legal fees related to that refinancing. 

The previous bank credit facility had an interest rate of LIBOR (with a 1.5% floor) plus a margin of 7% and commitment fees of 2.5%. In addition to this cash interest, the Company accrued payment-in-kind (PIK) interest of 1.5%. This PIK interest, which totaled approximately $1 million, was treated as additional bank term loan principal and was paid in cash upon repayment of the entire facility.

The following table includes information about the carrying values and estimated fair values of the Company’s financial instruments at September 30, 2013, and December 31, 2012:

 

	Sept. 30, 2013				December 31, 2012
(In thousands)	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Assets:
Investments
Trading	$	236	$	236	$	198	$	198
Liabilities:
Long-term debt:
Revolving credit facility ($15 million remaining availability at 9/30/13)		30,000		30,000		-		-
Term loan		261,934		345,260		257,466		343,746
11.75% senior secured notes		296,454		327,906		295,709		346,269

Trading securities held by the Supplemental 401(k) Plan are carried at fair value and are determined by reference to quoted market prices. The fair value of the revolving credit facility is equal to its carrying value as the Company has the ability to repay the outstanding principal at par value at any time. The fair value of the term loan was calculated assuming the outstanding principal will be repaid at the current call premium of 14.5%. The fair value of the 11.75% senior secured notes was valued by reference to the most recent trade prior to the end of the applicable period. Under the fair value hierarchy, the Company’s trading securities fall under Level 1 (quoted prices in active markets), its senior secured notes fall under Level 2 (other observable inputs) and its revolving credit facility and term loan fall under Level 3 (unobservable inputs).

4.     In January of 2013, the Company sold the intellectual property and certain tangible assets of Blockdot for a nominal amount; the Company retained Blockdot’s working capital and certain operating leases in Dallas, Texas. In 2012, the Company recorded a $2.5 million loss related to the anticipated sale of Blockdot; the Company recorded an additional loss of $30 thousand related to the sale in the first quarter of 2013. In the third quarter of 2012, the Company sold all of its newspapers and associated websites (with the exception of the Tampa group) to World Media Enterprises, Inc. (World Media), a subsidiary of Berkshire Hathaway. In the fourth quarter of 2012, the Company completed the sale of its Tampa print properties and associated websites to Tampa Media Group, Inc., a new company formed by Revolution Capital Group. During the second quarter of 2012, the Company also sold DealTaker for a nominal amount, shut down its Production Services company which provided broadcast equipment and design services and discontinued its NetInformer operations. The Company recorded after-tax losses related to the divestiture of discontinued operations of $11 million and $143 million in the third quarter and first nine months of 2012, respectively. The total year-to-date 2012 after-tax loss included an estimated loss on the sale of newspapers to World Media of $112 million, an estimated loss on the sale of the Tampa print properties of $24 million, an estimated loss on the sale of Blockdot of $2.4 million and a loss on the sale of DealTaker of $3.9 million. As of September 30, 2013, the Company has substantially completed its transition service obligations to World Media and Tampa Media.

9

As illustrated in the following chart, the results of these newspapers (as well as their associated websites), DealTaker, Blockdot, NetInformer and the Company’s Production Services unit have been presented as discontinued operations in the accompanying consolidated condensed statements of operations for the three and nine months ended September 30, 2013, and September 23, 2012. Depreciation and amortization on assets related to these properties ceased as of the date in 2012 that each disposal group qualified for held-for-sale treatment. The accompanying consolidated condensed balance sheet for 2012 presents assets and liabilities of discontinued operations separately from those of continuing operations. After recording a $2.5 million loss related to the expected divestiture of Blockdot, assets of discontinued operations as of December 31, 2012, were $670 thousand. Liabilities of discontinued operations of approximately $467 thousand at December 31, 2012, consisted primarily of accounts payable and accrued expenses.

 

	Loss from Discontinued Operations
	Three Months  Ended		Three Months Ended			Nine Months Ended			Nine Months Ended
(In thousands)	Sept. 30, 2013		Sept. 23, 2012			Sept. 30, 2013			Sept. 23, 2012
Revenues	$	-	$	18,491		$	110		$	169,805
Costs and expenses		-		19,527			523			179,205
Loss before income taxes		-		(1,036	)		(413	)		(9,400	)
Income tax expense		-		2			-			1,188
Loss from discontinued operations	$	-	$	(1,038	)	$	(413	)	$	(10,588	)

The Company owned and operated Blockdot for part of January 2013; revenues and expenses related to this period are reflected above. When the Company sold Blockdot, it retained certain operating leases for space that the Company will no longer utilize. The Company recorded a net loss of approximately $100 thousand related to the operating leases during the nine months ended September 30, 2013.

The Company performed an interim impairment test on DealTaker as of the end of the first quarter 2012, which resulted in a non-cash goodwill and other intangible asset impairment charge of $6.5 million net of a tax benefit of $3.6 million included in the loss from discontinued operations for the nine months ended September 23, 2012.

5.     Berkshire Hathaway and its wholly owned subsidiary, World Media, are considered related parties of Media General. As described in Notes 3 and 4, the Company consummated financing arrangements, granted warrants that were exercised, sold most of its newspaper assets and engaged in a series of transition services with Berkshire Hathaway. At the time of the original agreements for the financing arrangements (including the warrant agreement) and the sale of the newspaper assets, the Company and Berkshire Hathaway were not then related parties. The consummation of, along with the exercise of rights under, those agreements created the related-party status.

10

As of September 30, 2013, Berkshire Hathaway owned approximately 17% of the Class A shares of the Company and had recommended to the Company an individual who is actively serving as a Director in accordance with the Shareholder Agreement. Berkshire Hathaway was also the counterparty to the Company’s term loan and revolving line of credit. Following the sale of the Company’s newspaper assets, the Company and World Media engaged in a series of transition services to effectuate the transfer in a smooth and orderly fashion. The Company provided World Media services and support in the areas of information technology and digital for fees that were designed to approximate the Company’s cost. Payments received from World Media for these transition services totaled approximately $350 thousand and $1.6 million, respectively, for the three and nine months ended September 30, 2013. During the three and nine months ended September 30, 2013, the Company also was reimbursed for approximately $30 thousand and $1.3 million, respectively, of medical claims paid on behalf of World Media, as compared to approximately $1.6 million for the three and nine months ended September 23, 2012. World Media provided services and support to the Company in the areas of information technology support, billing and remittance processing for fees that were designed to approximate World Media’s cost. Payments for these services totaled approximately $10 thousand and $150 thousand during the three and nine months ended September 30, 2013, respectively, as compared to $230 thousand for the three and nine months ended September 23, 2012. In addition, the Company passed along approximately $100 thousand and $600 thousand, respectively, of other collections to World Media during the three and nine months ended September 30, 2013 as compared to $70 thousand for the three and nine months ended September 23, 2012.

As of September 30, 2013, the Company had a receivable for transition services of approximately $200 thousand included in the line item “Other” current assets on the consolidated condensed balance sheet.

During the three and nine months ended September 30, 2013, the Company made interest payments of $8.8 million and $25 million, respectively, to Berkshire Hathaway as compared to $5.1 million, for the three and nine months ended September 23, 2012. As of September 30, 2013, the Company had accrued interest payable to Berkshire Hathaway of approximately $100 thousand included in the line item “Accrued expenses and other liabilities” on the consolidated condensed balance sheet.

6.     The Company recorded non-cash income tax expense from continuing operations of $2.5 million and $7.7 million in the third quarter and first nine months of 2013, respectively, compared to $3.4 million and $10.2 million in the equivalent quarter and nine months of 2012, respectively. The Company’s tax provision for each period had an unusual relationship to pretax loss mainly because of the existence of a full deferred tax asset valuation allowance at the beginning of each period. This circumstance generally results in a zero net tax provision since the income tax expense or benefit that otherwise would be recognized is offset by the change to the valuation allowance.  However, tax expense recorded in the third quarter and first nine months of 2013 included the accrual of non-cash tax expense of approximately $3.3 million and $9.8 million, respectively, of additional valuation allowance in connection with the tax amortization of the Company’s indefinite-lived intangible assets that was not available to offset existing deferred tax assets (termed a “naked credit”), as compared to approximately $3.4 million and $10.2 million, respectively, in the corresponding 2012 periods. The “naked credit” expense was partially offset in the third quarter and first nine months of 2013 by approximately $0.8 million and $2.1 million, respectively, of tax benefit related to the intraperiod allocation items in Other Comprehensive Income. A full discussion of the naked credit issue is contained in Note 4 of Item 8 of the Company’s Form 10-K for the year ended December 31, 2012.

7.     The following table sets forth the computation of basic and diluted loss per share for continuing operations for the three and nine months ended September 30, 2013, and September 23, 2012. There were approximately 400 thousand shares and approximately 200 thousand shares (representing the weighted-average of outstanding stock options) that were not included in the computation of diluted EPS for the third quarter and first nine months of 2013, respectively, because to do so would have been anti-dilutive for the periods presented. There were approximately 4.6 million shares and 2.1 million shares (representing the weighted-average of common stock warrants issued to Berkshire Hathaway prior to their exercise) that were not included in the computation of diluted EPS for the third quarter and first nine months of 2012, respectively, because to do so would have been anti-dilutive for the periods presented.

11

 

(In thousands, except per share amounts)	Three Months Ended Sept. 30, 2013			Three Months Ended Sept. 23, 2012
Numerator for basic and diluted earnings per share:
Loss from continuing operations available to common stockholders	$	(14,616	)	$	(18,401	)
Denominator for basic and diluted earnings per share:
Weighted average shares outstanding		27,762			22,593
Loss from continuing operations per common share (basic and diluted)	$	(0.53	)	$	(0.81	)

(In thousands, except per share amounts)	Nine Months Ended Sept. 30, 2013			Nine Months Ended Sept. 23, 2012
Numerator for basic and diluted earnings per share:
Loss from continuing operations available to common stockholders	$	(48,014	)	$	(57,874	)
Denominator for basic and diluted earnings per share:
Weighted average shares outstanding		27,570			22,570
Loss from continuing operations per common share (basic and diluted)	$	(1.74	)	$	(2.56	)

8.     The following table provides the components of net periodic employee benefits expense for the Company’s benefit plans for the third quarters and first nine months of 2013 and 2012:

	Three Months Ended
	Pension Benefits						Other Benefits
(In thousands)	Sept. 30, 2013			Sept. 23, 2012			Sept. 30, 2013			Sept. 23, 2012
Service cost	$	-		$	-		$	27		$	50
Interest cost		4,736			5,290			221			445
Expected return on plan assets		(5,737	)		(5,926	)		-			-
Amortization of prior-service cost		-			-			22			315
Amortization of net loss/(gain)		2,155			1,412			(210	)		(205	)
Net periodic benefit cost	$	1,154		$	776		$	60		$	605

	Nine Months Ended
	Pension Benefits						Other Benefits
(In thousands)	Sept. 30, 2013			Sept. 23, 2012			Sept. 30, 2013			Sept. 23, 2012
Service cost	$	-		$	-		$	82		$	150
Interest cost		14,208			15,871			663			1,335
Expected return on plan assets		(17,212	)		(17,778	)		-			-
Amortization of prior-service cost		-			-			68			944
Amortization of net loss/(gain)		6,464			4,236			(632	)		(615	)
Net periodic benefit cost	$	3,460		$	2,329		$	181		$	1,814

 

12

Certain components of net periodic benefit cost were reclassified out of Accumulated Other Comprehensive Loss into operating costs for the three and nine months ended September 30, 2013, respectively, as shown below:

 

(In thousands)	Three Months Ended Sept. 30, 2013		Nine Months Ended Sept 30, 2013
Amortization of prior-service cost	$	22	$	68
Amortization of actuarial net loss		1,945		5,832
Total reclassifications	$	1,967	$	5,900

9.     The following table shows the Company’s Statement of Stockholders’ Deficit as of and for the nine months ended September 30, 2013:

 

	Class A			Common Stock					Additional Paid-in		Accumulated Other Comprehensive			Accumulated
(In thousands, except shares and per share amounts)	Shares			Class A			Class B		Capital		Loss			Deficit			Total
Balance at December 31, 2012		27,215,117		$	136,076		$	2,743	$	23,024	$	(219,656	)	$	(118,411	)	$	(176,224	)
Net loss					-			-		-		-			(48,457	)		(48,457	)
Other comprehensive income, net of taxes					-			-		-		3,772			-			3,772
Exercise of stock options		432,112			2,161			-		2		-			-			2,163
Performance accelerated restricted stock		(42,143	)		(211	)		-		30		-			-			(181	)
Stock-based compensation					-			-		723		-			-			723
Other		149			-			-		1,015		-			-			1,015
Balance at September 30, 2013		27,605,235		$	138,026		$	2,743	$	24,794	$	(215,884	)	$	(166,868	)	$	(217,189	)

10.     The Company accrues severance expense when payment of benefits is both probable and the amount is reasonably estimable. The Company recorded severance expense from continuing operations of $100 thousand in the third quarter and first nine months of 2013, as compared to $3.4 million and $3.5 million in the third quarter and first nine months of 2012, respectively. The majority of the severance expense incurred in 2012 was due to a corporate reduction-in-force of 75 positions that occurred in July and was recorded in the “Corporate expense and other” line on the Consolidated Condensed Statements of Operations. Severance costs related to television stations are reflected in either the “Station production expense” or the “Station selling, general and administrative expense” line items depending on the position eliminated. Accrued severance costs are included in the “Accrued expenses and other liabilities” line item on the Consolidated Condensed Balance Sheet.

11.     The Company’s subsidiaries guarantee the debt securities of the parent company. The Company’s subsidiaries are 100% owned except for the Supplemental 401(k) Plan; all subsidiaries except those in the non-guarantor column (the Supplemental 401(k) Plan) currently guarantee the debt securities. These guarantees are full and unconditional and on a joint and several basis. The following financial information presents condensed consolidating balance sheets, statements of operations and statements of cash flows for the parent company, the Guarantor Subsidiaries and the Non-Guarantor Subsidiaries, together with certain eliminations.

13

Media General, Inc.

Condensed Consolidating Balance Sheet

As of September 30, 2013

(In thousands, unaudited)

	Media General Corporate			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Media General Consolidated
ASSETS
Current assets:
Cash and cash equivalents	$	15,084		$	331		$	-		$	-		$	15,415
Accounts receivable - net		-			58,667			-			-			58,667
Other		4,026			14,772			-			-			18,798
Total current assets		19,110			73,770			-			-			92,880
Investment in and advances to subsidiaries		(18,960	)		1,340,699			-			(1,321,739	)		-
Intercompany note receivable		588,739			-			-			(588,739	)		-
Other assets		44,725			5,602			236			-			50,563
Property, plant and equipment - net		19,088			141,265			-			-			160,353
FCC licenses and other intangibles - net		-			198,931			-			-			198,931
Excess cost over fair value of net identifiable assets of acquired businesses		-			247,149			-			-			247,149
TOTAL ASSETS	$	652,702		$	2,007,416		$	236		$	(1,910,478	)	$	749,876
LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)
Current liabilities:
Accounts payable	$	8,531		$	3,389		$	-		$	-		$	11,920
Accrued expenses and other liabilities		21,390			22,810			-			-			44,200
Total current liabilities		29,921			26,199			-			-			56,120
Long-term debt		296,454			5			-			-			296,459
Long-term debt - related party		291,934			-			-			-			291,934
Intercompany loan		-			588,739			-			(588,739	)		-
Retirement, post-retirement and post-employment plans		232,650			-			-			-			232,650
Deferred income taxes		-			68,091			-			-			68,091
Other liabilities and deferred credits		18,383			2,747			681			-			21,811
Stockholders' equity (deficit):
Common stock		140,769			2,801			-			(2,801	)		140,769
Additional paid-in capital		25,343			1,731,100			(965	)		(1,730,684	)		24,794
Accumulated other comprehensive loss		(215,884	)		-			-			-			(215,884	)
Retained earnings (accumulated deficit)		(166,868	)		(412,266	)		520			411,746			(166,868	)
Total stockholders' equity (deficit)		(216,640	)		1,321,635			(445	)		(1,321,739	)		(217,189	)
TOTAL LIABILITIES & STOCKHOLDERS' EQUITY (DEFICIT)	$	652,702		$	2,007,416		$	236		$	(1,910,478	)	$	749,876

14

Media General, Inc.

Condensed Consolidating Balance Sheet

As of December 31, 2012

(In thousands)

	Media General Corporate			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Media General Consolidated
ASSETS
Current assets:
Cash and cash equivalents	$	36,414		$	388		$	-		$	-		$	36,802
Accounts receivable - net		-			58,486			-			-			58,486
Other		6,562			11,931			-			-			18,493
Assets of discontinued operations		-			670			-			-			670
Total current assets		42,976			71,475			-			-			114,451
Investment in and advances to subsidiaries		14,281			1,346,705			-			(1,360,986	)		-
Intercompany note receivable		564,681			-			-			(564,681	)		-
Other assets		38,469			6,795			198			-			45,462
Property, plant and equipment - net		19,647			146,458			-			-			166,105
FCC licenses and other intangibles - net		-			200,254			-			-			200,254
Excess of cost over fair value of net identifiable assets of acquired businesses		-			247,149			-			-			247,149
TOTAL ASSETS	$	680,054		$	2,018,836		$	198		$	(1,925,667	)	$	773,421
LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)
Current liabilities:
Accounts payable	$	7,488		$	4,181		$	-		$	-		$	11,669
Accrued expenses and other liabilities		36,155			28,207			-			-			64,362
Liabilities of discontinued operations		-			467			-			-			467
Total current liabilities		43,643			32,855			-			-			76,498
Long-term debt		295,714			7			-			-			295,721
Long-term debt - related party		257,466			-									257,466
Intercompany loan		-			564,681			-			(564,681	)		-
Retirement, post-retirement and post-employment plans		242,309			-			-			-			242,309
Deferred income taxes		-			58,865			-			-			58,865
Other liabilities and deferred credits		15,567			2,442			777			-			18,786
Stockholders' equity (deficit):
Common stock		138,819			2,801			-			(2,801	)		138,819
Additional paid-in capital		24,603			1,733,641			(1,977	)		(1,733,243	)		23,024
Accumulated other comprehensive loss		(219,656	)		-			-			-			(219,656	)
Retained earnings (accumulated deficit)		(118,411	)		(376,456	)		1,398			375,058			(118,411	)
Total stockholders' equity (deficit)		(174,645	)		1,359,986			(579	)		(1,360,986	)		(176,224	)
TOTAL LIABILITIES & STOCKHOLDERS' EQUITY (DEFICIT)	$	680,054		$	2,018,836		$	198		$	(1,925,667	)	$	773,421

15

Media General, Inc.

Condensed Consolidating Statements of Operations

and Comprehensive Loss

Three Months Ended September 30, 2013

(In thousands, unaudited)

	Media General Corporate			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Media General Consolidated
Station revenue (less agency commissions)	$	6,414		$	78,489		$	-		$	(6,414	)	$	78,489
Operating costs:
Station production expenses		-			31,973			-			-			31,973
Station selling, general, and administrative expenses		-			29,714			-			(6,414	)		23,300
Corporate and other expenses		7,735			-			98			-			7,833
Depreciation and software amortization		450			5,066			-			-			5,516
Amortization of intangible assets		-			441			-			-			441
Net loss (gain) related to fixed assets		(22	)		32			-			-			10
Merger-related expenses		1,218			-			-			-			1,218
Total operating costs		9,381			67,226			98			(6,414	)		70,291
Operating income (loss)		(2,967	)		11,263			(98	)		-			8,198
Other income (expense):
Interest expense		(9,939	)		(21	)		-			-			(9,960	)
Interest expense - related party		(10,379	)		-			-			-			(10,379	)
Intercompany interest income (expense)		20,637			(20,637	)		-			-			-
Investment income (loss) - consolidated affiliates		(12,010	)		-			-			12,010			-
Other, net		42			-			-			-			42
Total other income (expense)		(11,649	)		(20,658	)		-			12,010			(20,297	)
Income (loss) before income taxes		(14,616	)		(9,395	)		(98	)		12,010			(12,099	)
Income tax expense		-			2,517			-			-			2,517
Net income (loss)	$	(14,616	)	$	(11,912	)	$	(98	)	$	12,010		$	(14,616	)
Comprehensive income (loss)	$	(13,416	)	$	(11,912	)	$	(98	)	$	12,010		$	(13,416	)

16

Media General, Inc.

Condensed Consolidating Statements of Operations

and Comprehensive Loss

Three Months Ended September 23, 2012

(In thousands, unaudited)

	Media General Corporate			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Media General Consolidated
Station revenue (less agency commissions)	$	7,622		$	93,789		$	-		$	(7,659	)	$	93,752
Operating costs:
Station production expenses		-			31,459			-			(1	)		31,458
Station selling, general, and administrative expenses		-			29,126			-			(7,621	)		21,505
Corporate and other expenses		11,662			285			146			-			12,093
Depreciation and software amortization		564			4,969			-			-			5,533
Amortization of intangible assets		-			442			-			-			442
(Gain) loss on disposal of assets, net		(120	)		338			-			-			218
Total operating costs		12,106			66,619			146			(7,622	)		71,249
Operating income (loss)		(4,484	)		27,170			(146	)		(37	)		22,503
Other income (expense):
Interest expense		(9,480	)		(17	)		-			-			(9,497	)
Interest expense - related party		(10,723	)		-			-			-			(10,723	)
Debt modification and extinguishment costs		(17,318	)		-			-			-			(17,318	)
Intercompany interest income (expense)		21,699			(21,699	)		-			-			-
Investment income (loss) - consolidated affiliates		(10,057	)		-			-			10,057			-
Other, net		30			10			-			-			40
Total other income (expense)		(25,849	)		(21,706	)		-			10,057			(37,498	)
Income (loss) from continuing operations before income taxes		(30,333	)		5,464			(146	)		10,020			(14,995	)
Income tax expense		-			3,406			-			-			3,406
Income (loss) from continuing operations		(30,333	)		2,058			(146	)		10,020			(18,401	)
Discontinued operations (net of tax):
Income (loss) from discontinued operations		-			(1,075	)		-			37			(1,038	)
Loss related to divestiture of discontinued operations		-			(10,894	)		-			-			(10,894	)
Net income (loss)	$	(30,333	)	$	(9,911	)	$	(146	)	$	10,057		$	(30,333	)
Comprehensive income (loss)	$	(30,333	)	$	(9,911	)	$	(146	)	$	10,057		$	(30,333	)

17

Media General, Inc.

Condensed Consolidating Statements of Operations

and Comprehensive Loss

Nine Months Ended September 30, 2013

(In thousands, unaudited)

	Media General Corporate			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Media General Consolidated
Station revenue (less agency commissions)	$	18,402		$	234,448		$	-		$	(18,402	)	$	234,448
Operating costs:
Station production expenses		-			95,388			-			-			95,388
Station selling, general, and administrative expenses		-			87,457			-			(18,402	)		69,055
Corporate and other expenses		23,743			-			878			-			24,621
Depreciation and software amortization		1,331			15,342			-			-			16,673
Amortization of intangible assets		-			1,323			-			-			1,323
Net loss (gain) related to fixed assets		(95	)		173			-			-			78
Merger-related expenses		8,389			-			-			-			8,389
Total operating costs		33,368			199,683			878			(18,402	)		215,527
Operating income (loss)		(14,966	)		34,765			(878	)		-			18,921
Other income (expense):
Interest expense		(28,721	)		(60	)		-			-			(28,781	)
Interest expense - related party		(30,297	)		-			-			-			(30,297	)
Intercompany interest income (expense)		62,103			(62,103	)		-			-			-
Investment income (loss) - consolidated affiliates		(36,688	)		-			-			36,688			-
Other, net		112			(244	)		-			-			(132	)
Total other income (expense)		(33,491	)		(62,407	)		-			36,688			(59,210	)
Income (loss) from continuing operations before income taxes		(48,457	)		(27,642	)		(878	)		36,688			(40,289	)
Income tax expense		-			7,725			-			-			7,725
Income (loss) from continuing operations		(48,457	)		(35,367	)		(878	)		36,688			(48,014	)
Discontinued operations (net of tax):
Loss from discontinued operations		-			(413	)		-			-			(413	)
Loss related to divestiture of operations		-			(30	)		-			-			(30	)
Net income (loss)	$	(48,457	)	$	(35,810	)	$	(878	)	$	36,688		$	(48,457	)
Comprehensive income (loss)	$	(44,685	)	$	(35,810	)	$	(878	)	$	36,688		$	(44,685	)

18

Media General, Inc.

Condensed Consolidating Statements of Operations

and Comprehensive Loss

Nine Months Ended September 23, 2012

(In thousands, unaudited)

	Media General Corporate			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Media General Consolidated
Station revenue (less agency commissions)	$	23,443		$	251,559		$	-		$	(23,938	)	$	251,064
Operating costs:
Station production expenses		-			92,832			-			(473	)		92,359
Station selling, general, and administrative expenses		-			86,959			-			(23,486	)		63,473
Corporate and other expenses		29,847			1,646			111			-			31,604
Depreciation and software amortization		2,062			15,062			-			-			17,124
Amorization of intangible assets		-			2,196			-			-			2,196
(Gain) loss on disposal of assets, net		(613	)		581			-			-			(32	)
Total operating costs		31,296			199,276			111			(23,959	)		206,724
Operating income (loss)		(7,853	)		52,283			(111	)		21			44,340
Other income (expense):
Interest expense		(41,362	)		(48	)		-			-			(41,410	)
Interest expense - related party		(15,618	)		-			-			-			(15,618	)
Debt modification and extinguishment costs		(35,415	)		-			-			-			(35,415	)
Intercompany interest income (expense)		57,270			(57,270	)		-			-			-
Investment income (loss) - consolidated affiliates		(168,572	)		-			-			168,572			-
Other, net		497			(45	)		-			-			452
Total other income (expense)		(203,200	)		(57,363	)		-			168,572			(91,991	)
Income (loss) from continuing operations before income taxes		(211,053	)		(5,080	)		(111	)		168,593			(47,651	)
Income tax expense		-			10,223			-			-			10,223
Income (loss) from continuing operations		(211,053	)		(15,303	)		(111	)		168,593			(57,874	)
Discontinued operations (net of tax):
Loss from discontinued operations		-			(10,567	)		-			(21	)		(10,588	)
Loss related to divestiture of discontinued operations		-			(142,591	)		-			-			(142,591	)
Net income (loss)	$	(211,053	)	$	(168,461	)	$	(111	)	$	168,572		$	(211,053	)
Comprehensive income (loss)	$	(211,053	)	$	(168,461	)	$	(111	)	$	168,572		$	(211,053	)

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Media General, Inc.

Condensed Consolidating Statements of Cash Flows

Nine Months Ended September 30, 2013

(In thousands, unaudited)

	Media General Corporate			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Media General Consolidated
Cash flows from operating activities:
Net cash used by operating activities	$	(13,579	)	$	(13,233	)	$	(1,011	)	$	-		$	(27,823	)
Cash flows from investing activities:
Capital expenditures		(795	)		(10,993	)		-			-			(11,788	)
Collateral refund related to letters of credit		1,366			-			-			-			1,366
Net change in intercompany note receivable		(24,058	)		-			-			24,058			-
Other, net		(181	)		113			-			-			(68	)
Net cash (used) provided by investing activities		(23,668	)		(10,880	)		-			24,058			(10,490	)
Cash flows from financing activities:
Increase in related party borrowings		40,000			-			-			-			40,000
Repayment of related party borrrowings		(10,000	)		-			-			-			(10,000	)
Debt issuance costs		(16,243	)		-			-			-			(16,243	)
Net change in intercompany loan		-			24,058			-			(24,058	)		-
Other, net		2,160			(2	)		1,011			-			3,169
Net cash provided (used) by financing activities		15,917			24,056			1,011			(24,058	)		16,926
Net decrease in cash and cash equivalents		(21,330	)		(57	)		-			-			(21,387	)
Cash and cash equivalents at beginning of year		36,414			388			-			-			36,802
Cash and cash equivalents at end of period	$	15,084		$	331		$	-		$	-		$	15,415

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Media General, Inc.

Condensed Consolidating Statements of Cash Flows

Nine Months Ended September 23, 2012

(In thousands, unaudited)

	Media General Corporate			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Media General Consolidated
Cash flows from operating activities:
Net cash (used) provided by operating activities	$	(99,462	)	$	117,937		$	(40	)	$	-		$	18,435
Cash flows from investing activities:
Capital expenditures		(1,604	)		(5,659	)		-			-			(7,263	)
Collateral deposit related to letters of credit		(10,271	)		-			-			-			(10,271	)
Net change in intercompany note receivable		114,110			-			-			(114,110	)		-
Proceeds from dispositions		139,902			-			-			-			139,902
Other, net		894			1,092			-			-			1,986
Net cash (used) provided by investing activities		243,031			(4,567	)		-			(114,110	)		124,354
Cash flows from financing activities:
Increase in borrowings		13,000			-			-			-			13,000
Increase in related party borrowings		382,500			-			-			-			382,500
Repayment of borrowings		(377,298	)		-			-			-			(377,298	)
Repayment of related party borrowings		(126,963	)		-			-			-			(126,963	)
Debt issuance costs		(28,772	)		-			-			-			(28,772	)
Net change in intercompany loan		-			(114,110	)		-			114,110			-
Other, net		55			(9	)		40			-			86
Net cash (used) provided by financing activities		(137,478	)		(114,119	)		40			114,110			(137,447	)
Net increase (decrease) in cash and cash equivalents		6,091			(749	)		-			-			5,342
Cash and cash equivalents at beginning of year		21,674			1,434			-			-			23,108
Cash and cash equivalents at end of period	$	27,765		$	685		$	-		$	-		$	28,450

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Item 2.          Management's Discussion and Analysis of Financial Condition and Results of Operations

OVERVIEW

Media General, Inc. (Media General or the Company), through its subsidiaries, is a provider of news, information and entertainment across 18 network-affiliated broadcast television stations and their associated digital media and mobile platforms. The Company’s stations serve consumers and advertisers in strong local markets, primarily in the southeastern United States. Media General’s network affiliations include eight NBC stations, eight CBS stations, one ABC station and one CW station. The Company entered the television business in 1955 when it launched WFLA-TV in Tampa, Florida, as an NBC affiliate. Today, WFLA is the Company’s largest TV station, operating in the 14th largest designated market area (DMA) in the United States. Six of the Company’s stations operate in Top 50 markets in the United States. Media General’s stations reach more than one-third of TV households in the Southeast and more than 8 percent of U.S. TV households.

On June 5, 2013, the Company entered into a merger agreement with Young. Upon consummation of the merger, the combined company will own or operate 31 network-affiliated television stations across 28 markets, reaching approximately 16.5 million, or approximately 14%, of U.S. TV households. The combined company’s increased size is expected to enhance its ability to capture the operating synergies of a larger company, participate in retransmission revenue growth, provide opportunities for broadcast and digital market share growth and obtain more favorable syndicated programming arrangements. Moreover, the Company believes the combined company will have a strong balance sheet, including significant net operating loss carryforwards that will survive the transaction and an enhanced credit profile. As discussed further in the Liquidity and Capital Resources section below, the Company has already secured long-term financing which will significantly reduce interest expense for the combined company. The combined company is expected to have an enhanced financial ability to pursue and finance additional strategic acquisitions, and thereby have a greater ability to participate in ongoing industry consolidation, than Media General would have had on a stand-alone basis. The closing of the transaction is subject to the approval of various matters relating to the transaction by Media General’s Class A and Class B shareholders and the satisfaction of other customary conditions. The Company has called a Special Meeting of its shareholders on November 7, 2013, to consider and vote on matters necessary to complete the transaction contemplated by the merger agreement. The Company expects to complete the transaction in November of 2013, if its shareholders provide approval at the Special Meeting and FCC approval is received, as expected.

The merger will be accounted for as a reverse acquisition in accordance with FASB Accounting Standards Codification Topic 805 (ASC 805), Business Combination. For financial reporting purposes, Young will be the acquirer and the continuing reporting entity. Consequently, the reports filed by Media General, the legal acquirer and the continuing public corporation in the transaction, after the date of the transaction will be prepared with Young as the successor entity. Accordingly, prior period financial information presented in the Media General financial statements will reflect the historical activity of Young.

RESULTS OF OPERATIONS

The Company recorded a net loss of $15 million ($0.53 per share) and $48 million ($1.76 per share) in the third quarter and first nine months of 2013, respectively, compared to a net loss of $30 million ($1.34 per share) and $211 million ($9.35 per share) in the third quarter and first nine months of 2012. Net loss for the third quarter and first nine months of 2012 included the operating results of newspapers, Blockdot, DealTaker, NetInformer and its production services company. All of these properties, with the exception of Blockdot, were sold or otherwise disposed prior to the end of 2012. Net loss for the third quarter and first nine months of 2012 also included losses of $11 million and $143 million, respectively, related to the divestiture of these discontinued operations. Net loss for the nine months ended September 30, 2013 included the revenue and expenses of Blockdot for the first three weeks of the year, a net loss of $100 thousand related to certain operating leases for space (formerly occupied by Blockdot) that the Company will no longer utilize and an additional loss of $30 thousand related to the sale of Blockdot.

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Losses from continuing operations of $15 million and $48 million for the third quarter and first nine months of 2013, respectively, compared to losses from continuing operations of $18 million and $58 million in the equivalent 2012 periods. The loss from continuing operations for the third quarter and first nine months of 2013, included $1.2 million and $8.4 million, respectively, of investment banking, legal and accounting fees and expenses related to the pending merger with Young. The loss from continuing operations in 2012 included debt modification and extinguishment costs of $17 million and $35 million in the third quarter and year-to-date period, respectively.

Operating income in the third quarter of 2012 of $23 million decreased to $8.2 million in the third quarter of 2013 due primarily to the absence of Political and Olympic revenues in 2013. The third quarter decline in revenues combined with $8.4 million of merger-related expenses caused operating income for the first nine months of 2013 to drop by more than half to $19 million.

REVENUES

Revenues are grouped primarily into five major categories: Local, National, Political, Cable/Satellite Retransmission and Digital. The following chart summarizes the total consolidated period-over-period changes in these select revenue categories:

Change in Revenue by Major Category

2013 versus 2012

	Third Quarter Change						Year-to-date Change
(In thousands)	Amount			Percent			Amount			Percent
Local (gross)	$	(3,633	)		(7.7	)	$	(5,234	)		(3.8	)
National (gross)		(1,986	)		(8.0	)		(1,109	)		(1.6	)
Political (gross)		(18,519	)		(94.6	)		(30,629	)		(92.2	)
Cable/Satellite Retransmission		3,840			41.0			12,308			44.4
Digital (gross)		543			20.5			1,335			18.6

Due to the relative absence of elections in 2013, Political revenue dropped by over 90% in the third quarter and year-to-date 2013 periods. Core Local and National broadcast advertising revenues also declined by 7.8% and 3.1% in the same 2013 periods. Third quarter 2012 revenues included gross Olympic spending of $15.5 million at the Company’s eight NBC stations spread across the Local, National and Political categories. While retransmission revenue and digital revenue rose sharply in both the quarter and year-to-date periods, it was not enough to fully offset this shortfall. Also contributing, in 2012, the Super Bowl aired on the Company’s eight NBC stations which are located in larger markets and generated $2.8 million of revenue. Super Bowl revenues in 2013 were $1.2 million, and the game was carried on the Company’s eight CBS stations. Continued softness in the Tampa advertising market also has hampered 2013 advertising revenues.

The Company’s retransmission consent agreement with the DISH Network expired on September 30, 2013. Consequently, none of the Company’s 18 television stations are being carried on DISH satellite systems subsequent to the end of the third quarter. The Company is actively seeking to reach agreement with DISH at market rates so that its stations will again be available to DISH subscribers. Year-over-year growth in retransmission revenues will be adversely affected until a new agreement is reached.   

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OPERATING COSTS

Operating costs decreased by approximately $1 million (1.3%) in the third quarter of 2013 as a $4.3 million reduction in corporate and other expenses was partially offset by a $2.3 million increase in station operating costs and $1.2 million of investment banking, legal and accounting fees and expenses related to the pending merger with Young. For the nine months ended September 30, 2013, operating costs increased by $8.8 million (4.3%), as a $7 million decrease in corporate and other expenses was not enough to offset $8.4 million of merger-related expenses and an $8.6 million rise in station operating costs.

Station production expenses rose 1.6% and 3.3% in the three and nine months ended September 30, 2013, due primarily to increased network affiliate fees (including reverse compensation), and to a lesser degree, merit increases for station employees.

Station selling, general and administrative expenses increased 8.3% and 8.8% in the three and nine months ended September 30, 2013, due to several factors, including merit increases, sales incentive trip expenses and additional revenue-share expense associated with the growth in digital revenues.

Corporate and other expenses decreased by $4.3 million (35%) in the third quarter of 2013 and by $7.0 million (22%) in the first nine months of 2013. These decreases were mostly attributable to the absence of a $3.3 million severance charge recorded in the third quarter of 2012 and savings resulting from the elimination of 75 corporate positions in the second half of 2012. However, the savings were countered by the effects of a rising stock price. The Supplemental 401(k) Plan and the Directors’ Deferred Compensation Plan (the Plans) are designed to align the interests of the participants with those of the shareholders. In the third quarter and first nine months of 2013, the Company’s stock price rose by $3.23 and $9.96, respectively. Consequently, the Company recorded increases of $2.1 million and $7.0 million to its Plan liabilities and corporate and other expenses in the respective 2013 periods. The Company’s increase in stock price was less significant in the corresponding 2012 periods and resulted in increases to corporate and other expenses of $.7 million and $.5 million, respectively.

Depreciation and amortization expenses were essentially flat in 2013 as compared to 2012. However, year-to-date amortization of intangible assets decreased by 40% as a number of assets reached the end of their useful lives at the end of the first quarter of 2012.

INTEREST EXPENSE

Total interest expense was flat in the third quarter of 2013 as compared to the third quarter of 2012. Interest expense related to Berkshire Hathaway borrowings decreased by 3%. The Company repaid approximately $117 million of principal to Berkshire Hathaway during the third quarter of 2012. However, savings related to this reduction were partially offset by a $30 million increase in outstanding borrowings on the revolving credit facility during the third quarter of 2013. Interest expense from other sources increased by 4.9% as the Company incurred approximately $0.5 million of fees on its new term loan arrangement.

Total interest expense increased by $2.1 million (3.6%) for the first nine months of 2013 as compared to 2012 as lower average principal outstanding was not enough to overcome higher interest rates. For most of the first quarter of 2012, the Company had a bank term loan facility with outstanding principal of $363 million and an interest rate of 5.3%. The Company amended this facility in late March of 2012, consequently, the all-in interest rate increased to 10%. In May of 2012, the Company entered into its current financing arrangement with Berkshire Hathaway which increased the cash interest rate on the term loan to 10.5%. By contrast, the Company had a term loan with outstanding principal of $302 million and a fixed interest rate of 10.5% for the entire first nine months of 2013.

Total interest expense included non-cash interest of $2.3 million and $7.0 million for the third quarter and first nine months of 2013 compared to non-cash interest of $2.4 million and $6.8 million for the equivalent 2012 periods. This non-cash interest expense represents accretion of discounts related to original issuance, warrants and certain fees that are amortized over the life of a loan. Non-cash interest expense for 2012 also includes payment-in-kind (PIK) interest of nearly $1 million which was incurred between March and May 2012 under the Company’s previous credit facility.

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INCOME TAXES

The Company recorded non-cash income tax expense from continuing operations of $2.5 million and $7.7 million in the third quarter and first nine months of 2013, respectively, compared to $3.4 million and $10 million in the equivalent quarter and nine months of 2012, respectively. The Company’s tax provision for each period had an unusual relationship to pretax loss mainly because of the existence of a full deferred tax asset valuation allowance at the beginning of each period. This circumstance generally results in a zero net tax provision since the income tax expense or benefit that otherwise would be recognized is offset by the change to the valuation allowance.  However, tax expense recorded in the third quarter and first nine months of 2013 included the accrual of non-cash tax expense of approximately $3.3 million and $9.8 million, respectively, of additional valuation allowance in connection with the tax amortization of the Company’s indefinite-lived intangible assets that was not available to offset existing deferred tax assets (termed a “naked credit”), as compared to approximately $3.4 million and $10.2 million, respectively, in the corresponding 2012 periods. The “naked credit” expense was partially offset in the third quarter and first nine months of 2013 by approximately $0.8 million and $2.1 million, respectively, of tax benefit related to the intraperiod allocation items in Other Comprehensive Income. A full discussion of the naked credit issue is contained in Note 4 of Item 8 of the Company’s Form 10-K for the year ended December 31, 2012.

DISCONTINUED OPERATIONS

The Company recorded a loss of $413 thousand from the operations of Blockdot in the nine months ended September 30, 2013. In January 2013, the Company sold the intellectual property and certain tangible assets of Blockdot for a nominal amount, but it did not sell Blockdot’s working capital and certain operating leases for space that the Company will no longer utilize. The Company recorded a net loss of approximately $100 thousand related to these operating leases during the nine months ended September 30, 2013. In the second half of 2012, the Company recorded a $2.5 million loss due to the anticipated sale of Blockdot; the Company recorded an additional loss of $30 thousand related to the sale in the first quarter of 2013.

The Company recorded losses from discontinued operations of $1 million and $11 million during the third quarter and first nine months of 2012, respectively, which included the operating results of newspapers (as well as their associated websites), DealTaker, Blockdot, NetInformer and the Company’s Production Services unit. The loss for the first nine months of 2012 included a noncash impairment charge of $6.5 million net of a tax benefit of $3.6 million related to DealTaker. The Company also recorded after-tax losses related to the divestiture of discontinued operations of $11 million and $143 million in the third quarter and first nine months of 2012, respectively. The total year-to-date 2012 after-tax loss included an estimated loss on the sale of newspapers to World Media of $112 million, an estimated loss on the sale of the Tampa print properties of $24 million, an estimated loss on the sale of Blockdot of $2.4 million and a loss on the sale of DealTaker of $3.9 million.

OTHER

As indicated above, fluctuations in the Company’s stock price have a significant effect on the amount of corporate and other expenses recognized due to the nature of the Supplemental 401(k) and the Directors’ Deferred Compensation plans. Each $1 change in the Company’s stock price as of September 30, 2013, would have raised or lowered the Company’s liabilities and corporate and other expenses by approximately $.7 million.

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The Company also maintains a Deferred Compensation Plan for certain employees. Unlike a 401(k) plan, this obligation resides with the Company, and earnings are credited to each participant’s account based on the performance of participant-directed hypothetical equity and bond funds rather than actual investment activity. Historically, the Company directed investments associated with its company-owned life insurance policies to mirror investments used to determine the liability under the Deferred Compensation Plan. However, when amounts are borrowed under the company owned life insurance policies, as was the case as of September 30, 2013, the Company is exposed to the market volatility related to its Deferred Compensation Plan liability. A 10% change in the value of the investments used to determine the Deferred Compensation Plan liability as of quarter-end would have raised or lowered the liability and corporate and other expenses by approximately $.6 million.

LIQUIDITY AND CAPITAL RESOURCES

The Company used $28 million of cash from operating activities in the nine months ended September 30, 2013. This compared to $18 million of net cash provided by operating activities in the year-ago period. During the first nine months of 2013, the Company paid $61 million in cash for interest ($13 million of which was previously accrued), made capital expenditures of $12 million, contributed $3.8 million to its retirement plan and reduced its accounts payable and accrued expenses by $23 million. In addition, the Company paid cash of $16 million for issuance costs associated with its new credit facility and $7.8 million for merger-related expenses. These outlays were funded in part by $30 million of net borrowings under the revolving credit facility, a net inflow of $9 million from borrowings under company owned life insurance policies and a $1.4 million refund of a collateral deposit related to letters of credit.

As of September 30, 2013, and December 31, 2012, the Company had in place with BH Finance LLC, an affiliate of Berkshire Hathaway, a term loan with a face value of $302 million which was issued at a discount of 11.5%, matures in May 2020 and bears an interest rate of 10.5%. The Company had $30 million outstanding on its revolving credit facility as of September 30, 2013, and had remaining availability of $15 million. The revolving credit facility bears interest at a rate of 10% and is subject to a 2% fee on the unused portion of the commitment. While the Berkshire Hathaway financing arrangement does not contain financial covenants, there are restrictions, in whole or in part, on certain activities including the incurrence of additional debt, repurchase of shares and the payment of dividends. The financing arrangement is guaranteed by the Company’s subsidiaries. The Company also issued common stock warrants to purchase 4.6 million shares of common stock to Berkshire Hathaway in conjunction with the financing, the warrants were exercised subsequently.

Also outstanding were 11.75% senior secured notes with a face value of $300 million that were issued at a price equal to 97.69% of face value. On or before February 15, 2014, the senior secured notes can be redeemed at a price equal to 100% of the outstanding principal, plus the present value of the semi-annual interest payment due February 15, 2014, plus a call premium of 5.875% of the outstanding principal. The Company was in compliance with the provisions of its debt agreements at September 30, 2013.

At the time of the execution of the financing arrangement and related agreements, the Company and Berkshire Hathaway (and its affiliates) were not then related parties. However, the consummation of, and exercise of rights under, those agreements created the related-party status. As described in Note 5 of Item 1, the Company and World Media engaged in a series of transactions to effectuate an orderly transition following the sale of the Company’s newspapers. As of September 30, 2013, these transition service obligations were substantially complete.

The Company has posted cash collateral with letter of credit agents to support its letters of credit. As of September 30, 2013, the Company had outstanding letters of credit of $3.4 million.   The Company received refunds of $1.4 million of previously posted cash collateral during the nine months ended September 30, 2013.

The Company believes that its cash on hand, cash provided by operations and its revolving credit facility are more than sufficient to cover its working capital, capital expenditures, interest, pension, merger-related expenses and other cash needs.  

26

On July 31, 2013, the Company entered into a new credit agreement with a syndicate of lenders, contingent on successful completion of the merger with Young, which will provide the combined company with a $60 million revolving credit facility and an $885 million term loan. The revolving credit facility has a term of five years and will bear interest at LIBOR plus a margin of 2.75%. The $885 million term loan has a term of seven years and will bear interest at LIBOR (with a LIBOR floor of 1%)plus a margin of 3.25%. Shortly after close, the combined company plans to use the term loan proceeds to repay the outstanding debt of both companies (including associated call premiums), fund a $50 million contribution to Media General’s qualified pension plan and pay various transaction fees and expenses. The Company paid approximately $16 million of transaction-related fees in the third quarter. The Company also incurred $0.5 million of fees on the unfunded term loan commitment during the third quarter. The fees will continue to accrue at an annual rate of 3.25% of the unfunded term loan commitment until the Company fully draws down the term loan. When drawn following the merger, the new credit agreement will be guaranteed by the combined company and its subsidiaries, and secured by liens on substantially all of the assets of the combined company.

The Shield Media companies with which Young has shared services arrangements for two stations, entered into a new credit agreement with a syndicate of lenders, dated July 31, 2013, contingent on successful completion of the Young merger, which will refinance its outstanding aggregate $32 million term loans under one credit agreement. The existing Shield Media term loans are guaranteed on a secured basis by Young which will continue to provide its guarantee, secured by the same collateral, for the combined refinanced facility. The new Shield Media term loan has a term of five years and will bear interest at LIBOR plus a margin of 3.25%. Upon completion of the merger and repayment of the 11.75% senior secured notes, the new Shield Media term loan will be guaranteed by the combined company and its subsidiaries. These guarantees will be secured by liens on substantially all of the assets of the combined company, on a pari passu basis with the new Media General credit agreement.

The new Media General credit agreement contains a leverage ratio covenant, which involves debt levels and a rolling eight-quarter calculation of EBITDA, as defined in the agreement. Additionally, the agreement has restrictions on certain transactions including the incurrence of additional debt, capital leases, investments, additional acquisitions, asset sales and restricted payments (including dividends and share repurchases) as defined in the agreement. The new Shield Media credit agreement contains a fixed charge coverage ratio, a financial covenant that is meant to measure whether the Borrowers can satisfy their fixed charges (interest, debt payments, capital expenditures and taxes) when due by measuring fixed charges to EBITDA, calculated on a rolling eight-quarter basis, as defined in the agreement.   The agreement also has restrictions on transactions similar in nature to those in the new Media General agreement, but scaled to Shield Media’s smaller size.  Additionally, the agreement has more specific covenants regarding the operation of the Shield Media business and requires that each Shield Media holding company that controls a Shield Media station limit its activities to performance of its obligations under the Shield Media credit documents, and activities incidental thereto, including owning a Shield Media station and performance of its obligations under and activities related to the shared services agreement. Both the Media General and Shield Media credit agreements contain cross-default provisions.

OUTLOOK

Media General is excited about its future as a merged company with Young and is actively working with Young management to ensure a smooth transition. The Company expects to complete the transaction in November of 2013, if its shareholders provide approval at the Special Meeting and FCC approval is received, as expected. Media General is reassessing its operations and contracts, looking for efficiencies and best practices from both companies in order to maximize synergies. With the new credit arrangements that will be effective when the merger takes place, the Company has already secured long-term financing which will significantly reduce interest expense for the combined company. The combined company intends to use a portion of the proceeds of this financing to make a $50 million contribution to Media General’s qualified pension plan following consummation of the transaction which will reduce ongoing pension expense. The Company expects that significant operating loss carryforwards will survive the transaction which will minimize the combined company’s cash income taxes. Media General’s management believes that the combined company will be able to realize estimated operating and financing synergies of approximately $44 million per year, as a result of reduced corporate overhead, interest and other expenses.Media General looks forward to providing enhanced value to shareholders by participating as an acquirer in ongoing industry consolidation should appropriate opportunities be presented.

* * * * * * * *

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Certain statements in this quarterly report that are not historical facts are “forward-looking” statements, as that term is defined by the federal securities laws. Forward-looking statements include statements related to accounting estimates and assumptions, expectations regarding the pending merger and approval by shareholders, negotiations with cable and satellite providers, revenue growth, interest expense, corporate expense, cash flow margins, operating loss carryfowards, general advertising and digital advertising levels. Forward-looking statements, including those which use words such as the Company “believes,” “anticipates,” “expects,” “estimates,” “intends,” “projects,” “would like,” “plans,” “may” and similar words, are made as of the date of this filing and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in or implied by such statements.

Various important factors could cause actual results to differ materially from the Company’s forward looking statements, estimates or projections including, without limitation:  failure to complete the merger transaction, the economic climate for debt refinancing, regulatory approvals, changes in advertising demand, changes to pending accounting standards, changes in consumer preferences for programming and delivery method, changes in relationships with broadcast networks, changes in relationships with cable and satellite providers, the performance of pension plan assets, health care cost trends, regulatory rulings including those related to ERISA and income tax law, natural disasters, and the effects of dispositions and debt agreements on the Company’s results of operations and its financial condition.  Actual results may differ materially from those suggested by forward-looking statements for a number of reasons including those described in Item 1A “Risk Factors” of the Company’s Annual Report on Form 10-K for the year ended December 31, 2012.

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Item 3.          Quantitative and Qualitative Disclosure About Market Risk.

The Company’s Annual Report on Form 10-K for the year ended December 31, 2012, provides disclosures about market risk. As of September 30, 2013, there have been no material changes in the Company’s market risk from December 31, 2012.

Item 4.          Controls and Procedures

The Company’s management, including the chief executive officer and chief financial officer, has evaluated the effectiveness of the Company’s disclosure controls and procedures as of September 30, 2013. Based on that evaluation, the Company’s management, including the chief executive officer and chief financial officer, concluded that the Company’s disclosure controls and procedures were effective as of September 30, 2013. There have been no significant changes in the Company’s internal controls or in other factors during the fiscal quarter that have materially affected, or are reasonably likely to materially affect, the Company’s internal controls over financial reporting.

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PART II.     OTHER INFORMATION

Item 6.          Exhibits

(a)	Exhibits
	10.1	Media General, Inc., Supplemental 401(k) Plan, amended and restated effective January 1, 2014
	31.1	Section 302 Chief Executive Officer Certification
	31.2	Section 302 Chief Financial Officer Certification
	32	Section 906 Chief Executive Officer and Chief Financial Officer Certification
	101	The following financial information from the Media General, Inc. Quarterly Report on Form 10-Q for the quarter ended September 30, 2013, formatted in XBRL includes: (i) Consolidated Condensed Balance Sheets at September 30, 2013 and December 31, 2012, (ii) Consolidated Condensed Statements of Operations for the three and nine months ended September 30, 2013 and September 23, 2012, (iii) Consolidated Condensed Statements of Comprehensive Income (Loss) for the three and nine months ended September 30, 2013 and September 23, 2012, (iv) Consolidated Condensed Statements of Cash Flows for the nine months ended September 30, 2013 and September 23, 2012, and (v) the Notes to Consolidated Condensed Financial Statements.

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

	MEDIA GENERAL, INC.
DATE:     November 6, 2013	/s/ George L. Mahoney
	George L. Mahoney
	President and Chief Executive Officer

DATE:     November 6, 2013	/s/ James F. Woodward
	James F. Woodward
	Vice President - Finance and Chief Financial Officer

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EX-10

Exhibit 10.1

MEDIA GENERAL, INC.

SUPPLEMENTAL 401(k) PLAN

Amended and Restated as of January 1, 2014

Media General, Inc.

Supplemental 401(k) Plan

Amended and Restated as of January 1, 2014

TABLE OF CONTENTS

		Page
ARTICLE I	INTRODUCTION	1
ARTICLE II	DEFINITIONS	2
2.01	Administrator	2
2.02	Affiliated Company	2
2.03	Beneficiary	2
2.04	Board of Directors	2
2.05	Code	2
2.06	Company	2
2.07	Compensation	3
2.08	Effective Date	3
2.09	Eligible Employee	3
2.10	Employee	3
2.11	Employer	3
2.12	401(k) Plan	3
2.13	Investment Funds	4
2.14	Matching Contribution	4
2.15	Matching Contribution Account	4
2.16	Normal Retirement Date	4
2.17	Participant	4
2.18	Participating Employer	4
2.19	Plan	4
2.20	Plan Compensation	4
2.21	Plan Year	5
2.22	Separation from Service	5
2.23	Stock	5
2.24	Stock Fund	5
2.25	Supplemental Contribution	5
2.26	Supplemental Contribution Account	5
2.27	Trust	5
2.28	Trust Fund	6
2.29	Trustee	6
2.30	Valuation Date	6
ARTICLE III	ADMINISTRATION	7
3.01	Administrator	7
3.02	Powers of Administrator	7
3.03	Examination of Records	8
3.04	Nondiscriminatory Exercise of Authority	8
3.05	Reliance on Tables, etc.	8
3.06	Indemnification of Administrator and Trustee	8

Media General, Inc.

Supplemental 401(k) Plan

Amended and Restated as of January 1, 2014

3.07	Costs of Administration	8
3.07	Fiduciary Discretion	8
ARTICLE IV	PARTICIPATION	10
4.01	Participation	10
4.02	Compensation Reduction Election	10
4.03	Notice to Participants	10
ARTICLE V	DEFERRALS AND MATCHING CONTRIBUTIONS	11
5.01	Supplemental Contributions	11
5.02	Compensation Reduction Election Form	11
5.03	Matching Contributions	11
ARTICLE VI	TRUST FUNDS	13
6.01	Unfunded Plan	13
6.02	Appointment of Trustee	13
6.03	Investment Funds Within the Trust Fund	13
6.04	Acquisition of Stock	13
6.05	Investment of Contributions and Earnings	14
6.06	Protection of Trustee and Limitation of Liability	14
ARTICLE VII	PARTICIPANT ACCOUNTS	15
ARTICLE VIII	DISTRIBUTION OF BENEFITS	16
8.01	Payment of Accounts	16
8.02	Payments to Beneficiary	17
8.03	Beneficiary Designation	17
8.04	Benefits Non-Assignable	17
8.05	Claims Procedure	17
8.06	Anti-Acceleration	17
8.07	Special Election	18
ARTICLE IX	AMENDMENT AND TERMINATION	19
9.01	Amendment	19
9.02	Liability Upon Termination of the Plan	19
ARTICLE X	MISCELLAENOUS	20
10.01	Governing Law	20
10.02	Notices and Elections	20
10.03	Binding Effect	20
10.04	Severability	20
10.05	Gender and Number	20
10.06	Titles and Captions	20
10.07	Omnibus Provisions	20

Media General, Inc.

Supplemental 401(k) Plan

Amended and Restated as of January 1, 2014

ARTICLE I

INTRODUCTION

The purpose of the Media General, Inc. Supplemental 401(k) Plan (the "Plan") is to provide supplemental retirement savings to the Eligible Employees under the Plan, through a program of compensation reduction deferrals (that are matched, in part, by employer contributions, in accordance with the terms of the Plan). This Plan is specifically designed to allow a select group of key executives, whose pay exceeds the compensation limit of section 401(a)(17) of the Internal Revenue Code of 1986 (the “Code”) and whose elective deferral contributions to the MG Advantage 401(k) Plan are thereby limited under the provisions of the Code, to defer compensation under this Plan by means of compensation reductions (and otherwise receive the benefit of partial employer matching provided under the Plan).

The Plan is intended to be a plan that is unfunded and maintained by the Company for the purpose of providing deferred compensation for a select group of management or highly compensated employees as described in the Employee Retirement Income Security Act of 1974 (“ERISA”), as amended.

Effective January 1, 2008, the Plan is amended to conform the written terms of the Plan to the requirements of Code section 409A. The Plan has been operated in good faith compliance with the requirements of Code section 409A for periods starting January 1, 2005, and through December 31, 2008. Effective January 1, 2008, the Plan is intended to comply with final regulations under Code section 409A. All questions concerning the Plan should be interpreted in light of the Company’s intention to conform to the applicable requirements of ERISA and Code section 409A.

Effective January 1, 2011, the Plan is amended and restated to reflect changes in the Plan’s matching contribution formula effective April 1, 2009, and January 1, 2011. Effective January 1, 2014, the Plan is amended and restated to reflect additional changes to the Plan’s matching contribution formula.

Media General, Inc.

Supplemental 401(k) Plan

Amended and Restated as of January 1, 2014

ARTICLE II

DEFINITIONS

Wherever used herein, the following terms have the following meanings (unless a different meaning is clearly required by the context):

2.01         Administrator

Administrator means the Company or other person, entity or committee appointed to administer the Plan, in accordance with Article III.

2.02         Affiliated Company

Affiliated Company means (a) any corporation (other than the Company) that is a member of a controlled group of corporations (as defined in Code section 414(b)) with the Company, (b) any trade or business (other than the Company), whether or not incorporated, that is under common control (as defined in Code section 414(c)) with the Company, and (c) any trade or business (other than the Company) that is a member of an affiliated service group (as defined in Code section 414(m)) of which the Company is also a member, provided that, the term "Affiliated Company" shall not include any corporation or unincorporated trade or business prior to the date on which such corporation, trade or business satisfies the affiliation or control tests of (a), (b) or (c) above.

2.03         Beneficiary

Beneficiary means the person or persons entitled under Article VIII to receive benefits under the Plan upon the death of the Participant.

2.04         Board of Directors

Board of Directors means the Board of Directors of the Company.

2.05         Code

Code means the Internal Revenue Code of 1986, as amended from time to time. Reference to any section or subsection of the Code includes references to any comparable or succeeding provisions of any legislation that amends, supplements, or replaces such section or subsection.

2.06         Company

Company means Media General, Inc., a Virginia corporation, and any successor to all or a major portion of its assets or business that assumes the obligations of the Company.

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Media General, Inc.

Supplemental 401(k) Plan

Amended and Restated as of January 1, 2014

2.07         Compensation

Compensation means compensation as defined under the 401(k) Plan, without regard to any reduction in compensation by reason of any compensation reduction agreement in effect between a Participant and a Participating Employer (and without any limitations otherwise imposed under the Code). Otherwise, as to compensation for Plan purposes, see "Plan Compensation" below.

2.08         Effective Date

Effective Date means August 1, 1987. The Plan was amended and restated, effective November 17, 1994, April 29, 2004, January 1, 2008 and January 1, 2011. The most recent amendment and restatement is effective January 1, 2014.

2.09         Eligible Employee

Eligible Employee means:

(a)     an Employee of the Company or a Participating Employer;

(b)     whose Compensation (base annual salary and target bonus) exceed the compensation dollar limit imposed under Code section 401(a)(17) each year; and

(c)     who otherwise is selected by the Company to participate in this Plan in accordance with the provisions of the Plan (and who has not thereafter become ineligible to participate).

2.10         Employee

Employee means any person who is employed by an Employer, but excludes any person who is employed as an independent contractor.

2.11         Employer

Employer means the Company and any Participating Employer that shall adopt this Plan. When used in the Plan, the term "Employer" shall refer to the specific Employer of the Employee(s) or Participant(s) under consideration, rather than to all of the Employers in the aggregate, unless the context requires otherwise.

2.12         401(k) Plan

401(k) Plan means the MG Advantage 401(k) Plan.

3

Media General, Inc.

Supplemental 401(k) Plan

Amended and Restated as of January 1, 2014

2.13         Investment Funds

Investment Funds means the hypothetical investments of a Participant’s Account made in accordance with the Participant’s investment direction pursuant to Section 6.05. The Investment Funds shall be selected by the Administrator and may be changed from time to time.

2.14         Matching Contribution

Matching Contribution means, in the case of any Participant, any unfunded matching contribution allocation made for the benefit of the Participant by a Participating Employer under Section 5.03.

2.15         Matching Contribution Account

Matching Contribution Account means, for any Participant, the unfunded Plan recordkeeping account described in Section 7.01 to which Matching Contributions for the Participant's benefit (and earnings attributable thereto) are credited under the Plan.

2.16         Normal Retirement Date

Normal Retirement Date means the date on which the Participant attains age 65 (the "Normal Retirement Age").

2.17         Participant

Participant means each Eligible Employee who participates in the Plan, in accordance with Article IV hereof.

2.18         Participating Employer

Participating Employer means the Company and any Affiliated Company that has adopted the Plan with the approval of the Company's Board of Directors.

2.19         Plan

Plan means the Media General, Inc. Supplemental 401(k) Plan as set forth herein, together with any and all amendments and supplements hereto.

2.20         Plan Compensation

Plan Compensation means the excess (if any) of:

(a)     the Participant's Compensation for the Plan Year, as defined above and under the 401(k) Plan, without regard to any reduction in compensation by reason of any compensation reduction agreement in effect between a Participant and a Participating Employer (and without any limitation otherwise imposed under the Code); over

4

Media General, Inc.

Supplemental 401(k) Plan

Amended and Restated as of January 1, 2014

(b)     the annual tax-qualified plan compensation limitation set forth under Code section 401(a)(17), as adjusted for that Plan Year.

2.21         Plan Year

Plan Year means the calendar year.

2.22         Separation from Service

Separation from Service means either: (i) the complete cessation of the performance of services by the Participant for the Company for whatever reason, or (ii) a diminished level of services where the Participant is expected to perform services at a level equal to 20% or less of the average level of service provided during the immediately preceding 36 months.

2.23         Stock

Stock means the Class A common stock of the Company.

2.24         Stock Fund

Stock Fund means the investment fund holding Stock and cash.

2.25         Supplemental Contribution

Supplemental Contribution means, in the case of any Participant, that portion of a Participant's Plan Compensation that is deferred under the Plan in accordance with Article V hereof.

2.26         Supplemental Contribution Account

Supplemental Contribution Account means, for any Participant, the unfunded Plan recordkeeping account described in Section 7.01 to which Supplemental Contributions for the Participant's benefit (and earnings attributable thereto) are credited under the Plan.

2.27         Trust

Trust means the trust of trusts, if any, that may be established between the Company and a Trustee for the convenience of the Company, in connection with the Company's maintenance and operation of the Plan. All assets of any such trust shall be held solely for the benefit of, the Company; or, otherwise, shall be held in trust subject to the claims of the Company's creditors. The Plan shall remain solely an unfunded promise of the Company to pay benefits to Plan participants.

5

Media General, Inc.

Supplemental 401(k) Plan

Amended and Restated as of January 1, 2014

2.28         Trust Fund

Trust Fund means any property held in trust by the Trustee for the benefit of the Company (or held in trust, subject to the claims of the Company's creditors).

2.29         Trustee

Trustee means any person or persons appointed as Trustee pursuant to Section 6.02, any successor trustee or trustees, and any additional trustee or trustees.

2.30         Valuation Date

Valuation Date means, except as provided in Section 9.02 or unless the Plan Administrator determines otherwise, each business day of each Plan Year after the Effective Date.

6

Media General, Inc.

Supplemental 401(k) Plan

Amended and Restated as of January 1, 2014

ARTICLE III

ADMINISTRATION

3.01         Administrator

The Plan will be administered by the Company or by any person, entity or committee appointed from time to time by the Board of Directors to serve at its pleasure. A Participant may be appointed to serve as Administrator at the discretion of the Board of Directors. Except as may be directed by the Company, no person serving as Administrator will receive any compensation for his services as Administrator. The Company shall provide the Trustee with a written certification stating the name or names of the Administrator (or the designated persons authorized to direct the Trustee on behalf of the Administrator). The Trustee shall be entitled to rely upon such certification as to the identity of the Administrator (and any designated authorized persons) until the Company otherwise notifies the Trustee.

3.02         Powers of Administrator

The Administrator will have full and exclusive power and discretion to administer the Plan, including as to all of its details. For this purpose, the Administrator's power will include, but will not be limited to, the following authority:

(a)     to make and enforce such rules and regulations as it deems necessary or proper for the efficient administration of the Plan or as required to comply with applicable law;

(b)     to interpret the Plan, its interpretation thereof in good faith to be final and conclusive as to any Employee, former Employee, Participant, former Participant and Beneficiary;

(c)     to decide all questions concerning the Plan;

(d)     to compute the amount of benefits which will be payable to any Participant, former Participant or Beneficiary in accordance with the provisions of the Plan, and to determine the person or persons to whom such benefits will be paid;

(e)     to authorize the payment of Plan benefits;

(f)     to keep such records and submit such filings, elections, applications, returns or other documents or forms as may be required under the Code and applicable regulations, or under state or local law and regulations; and

(g)     to appoint such agents, counsel, accountants, consultants and recordkeepers as may be required to assist in administering the Plan.

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Media General, Inc.

Supplemental 401(k) Plan

Amended and Restated as of January 1, 2014

3.03         Examination of Records

The Administrator will make available to each Participant such Plan records as pertain to the Participant, for examination at reasonable times during normal business hours.

3.04         Nondiscriminatory Exercise of Authority

Whenever, in the administration of the Plan, any discretionary review or action by the Administrator is required, the Administrator shall exercise such authority in a nondiscriminatory manner (so that all persons who are similarly situated will receive substantially the same treatment).

3.05         Reliance on Tables, etc.

In administering the Plan, the Administrator will be entitled, to the extent permitted by law, to rely conclusively on all tables, valuations, certificates, opinions and reports that are furnished by any trustee, counsel, accountant, consultant, recordkeeper or other professional who is employed or engaged by the Administrator or the Company.

3.06         Indemnification of Administrator and Trustee

The company agrees to indemnify and defend, to the fullest extent of the law, any Employee or former Employee who in good faith serves or has served in the capacity of Administrator, as a member of a committee designated as Administrator or as an authorized person acting on behalf of the Administrator, against any liabilities, damages, costs and expenses occasioned by having occupied any fiduciary position in connection with the Plan.

The Company agrees to indemnify and defend, to the fullest extent of the law, any claims against the Trustee arising from actions taken by the Trustee pursuant to instructions from the Company or the Administrator; or, if the Trustee may not act in the absence of such instructions, its failure to act in the absence of such instructions.

3.07         Costs of Administration

All reasonable costs and expenses incurred by the Administrator and the Trustee in administering the Plan and Trust will be paid by the Company.

3.08         Fiduciary Discretion

8

Media General, Inc.

Supplemental 401(k) Plan

Amended and Restated as of January 1, 2014

In discharging the duties assigned to it under the Plan, the Committee and each other fiduciary with respect to the Plan has the discretion to interpret the Plan; adopt, amend and rescind rules and regulations pertaining to its duties under the Plan; and to make all other determinations necessary or advisable for the discharge of its duties under the Plan. Each fiduciary's discretionary authority is absolute and exclusive if exercised in a uniform and nondiscriminatory manner with respect to similarly situated individuals. The express grant in the Plan of any specific power to a fiduciary with respect to any duty assigned to it under the Plan must not be construed as limiting any power or authority of the fiduciary to discharge its duties. A fiduciary's decision is final and conclusive unless it is established that the fiduciary's decision constituted an abuse of its discretion.

9

Media General, Inc.

Supplemental 401(k) Plan

Amended and Restated as of January 1, 2014

ARTICLE IV

PARTICIPATION

4.01         Participation

An Eligible Employee may become a Participant for the Plan Year by delivering an executed Compensation Reduction Election to the Administrator in accordance with the procedures set forth in the following Plan section.

4.02         Compensation Reduction Election

(a)     Amount of Supplemental Contributions. A Participant may elect to defer a dollar amount (in $1 increments) of his Plan Compensation under the Plan. The minimum deferral for a Plan Year is $500 and the maximum amount is fifty percent (50%) of the Participant’s base annual salary.

(b)     Elections. Except as provided in subsection (c), a Participant may make an election to defer Plan Compensation for each Plan Year only if such election is made no later than December 31 of the prior Plan Year, or by such earlier date as may be announced by the Administrator. Such election shall remain in effect for the entire Plan Year. Each Compensation Reduction Election shall be made on a form provided by the Administrator and shall specify such additional information as the Administrator may require.

(c)     First Year of Eligibility. In the first Plan Year in which an Eligible Employee becomes eligible to participate in the Plan, the Eligible Employee must make an initial compensation reduction election within 30 days after he or she becomes eligible to participate in the Plan. Such election shall only be valid with respect to Compensation paid for services rendered after the date of the initial deferral election.

4.03         Notice to Participants

The Administrator will inform each Employee who becomes eligible to participate in the Plan of his eligibility to participate and his requirement to execute a Compensation Reduction Election.

10

Media General, Inc.

Supplemental 401(k) Plan

Amended and Restated as of January 1, 2014

ARTICLE V

DEFERRALS AND MATCHING CONTRIBUTIONS

5.01         Supplemental Contributions

For each Participant, who has in effect for any pay period an effective Compensation Reduction Election and otherwise is receiving Plan Compensation from a Participating Employer during such pay period, the Employer will reduce the Participant's Plan Compensation by (and the Company will record as a Supplemental Contribution) the amount (or percentage) of Plan Compensation specified in such Participant's Compensation Reduction Election. Each unfunded Supplemental Contribution will be credited to the Participant's Supplemental Contribution Account, in accordance with Section 7.02. Supplemental Contributions shall be withheld only from a Participant’s regular base pay, and not from bonus payments or other special payments made during the Plan Year.

5.02         Compensation Reduction Election Form

A Compensation Reduction Election is a written agreement between a Participant and his Participating Employer that satisfies the requirements of this Section 5.02 and Section 4.02. Each election will provide that the Participant's Plan Compensation will be reduced by the amount specified in the election. Each election will be in a form prescribed or approved by the Administrator.

5.03         Matching Contributions

The Participating Employer shall provide to the Company, with respect to each Participant's Matching Contribution Account for each Plan Year, an amount equal to the lesser of:

(a)     one hundred percent (100%) of the amount of the Participant's Supplemental Contribution for the Plan Year; or

(b)     effective for Plan Years commencing on and after January 1, 2014, three percent (3%) of the Participant's Plan Compensation for the Plan Year, plus fifty percent (50%) of the amount of the Participant’s Supplemental Contributions for the Plan Year that exceed three percent (3%) of the Participant’s Plan Compensation but that do not exceed five percent (5%) of the Participant’s Plan Compensation.

The Administrator shall estimate the unfunded Matching Contributions that will need to be recorded by the Company for the Participant during the Plan Year (based on the Participant's Compensation Reduction Election and expected Plan Compensation). Unless the Company determines otherwise, the Administrator then shall allocate the proposed Matching Contribution for the Plan Year for all Participants on a pro rata basis each pay period until such proposed Matching Contribution for the Plan Year is exhausted. The appropriate portion of the proposed Matching Contribution for the Plan Year, as determined above, will be credited to the Participant's unfunded Matching Contribution Account at the same time that the Participant's Supplemental Contributions are credited (after each pay period).

11

Media General, Inc.

Supplemental 401(k) Plan

Amended and Restated as of January 1, 2014

Following the end of each Plan Year, the Administrator shall adjust each Participant's final Matching Contributions for the completed Plan Year (to the final correct amount), by making a credit to, or deduction from, such Participant's Matching Contribution Account (generally by January 31 of the following year).

If a Participant Separates from Service prior to the end of the Plan Year, however, the Administrator generally shall proceed with final adjustment of the separated Participant's Matching Contributions (by making a final credit to, or final deduction from, such Participant's Matching Contribution Account by the last day of the month that next follows the Participant's Separation from Service).

Notwithstanding the foregoing provisions of this Section 5.03, no Matching Contributions shall be made by the Company or credited under the Plan for the period beginning on the first day of the Company’s first full payroll period starting on or after April 1, 2009, and ending with the last pay period that begins prior to December 31, 2010.

12

Media General, Inc.

Supplemental 401(k) Plan

Amended and Restated as of January 1, 2014

ARTICLE VI

TRUST FUND

6.01         Unfunded Plan

The Plan shall be and remain unfunded for federal income tax purposes and for purposes of Title I of ERISA. The Plan shall constitute only an unfunded promise by the Company to make future Plan benefit payments. Nevertheless, for the convenience of the Company, a trust fund may be established to invest certain Company assets for the purpose of paying certain benefits. Any such trust shall be subject to the claims of the Company's creditors. No Participant or Beneficiary shall have any right, title, or interest in, or to, any trust asset.

6.02         Appointment of Trustee

The Company may appoint, by written notice, one or more individuals or corporations to act as Trustee under the Plan; and, may remove and appoint a successor to any such person or persons at any time. The Trustee, and any Successor Trustee, shall be entitled to written notice from the Company, stating the date on which the removal is effective. Written notice of removal, resignation or appointment shall be provided to all Trustees under the Plan. The Company may enter into a separate trust agreement with the Trustee and make such amendments to such trust agreement or such further agreements as the Company, in its sole discretion, may deem necessary or desirable.

6.03         Investment Funds Within the Trust Fund

(a)     All contributions to a Trust and all investments thereunder shall be held by the Trustee in the applicable Trust Fund. The Trust Fund shall be invested in the Stock Fund and such other Investment Funds as may be selected from time to time by the Administrator. All cash held by the Trustee is to be invested in the Stock Fund or other Investment Funds as soon as reasonably practicable.

(b)     The Trustee, as directed by the Company, shall have the right to vote stock held in the Trust Fund, personally or by proxy, and to delegate the Trustee's powers and discretions with respect to stock to a proxy.

6.04         Acquisition of Stock

The Trustee shall purchase the Stock required for the Trust from such sources, and at such prices, as the Trustee shall determine in its sole discretion.

13

Media General, Inc.

Supplemental 401(k) Plan

Amended and Restated as of January 1, 2014

6.05         Investment of Contributions and Earnings

(a)     All amounts credited to a Participant's Supplemental Contribution Account and Matching Contribution Account shall be hypothetically invested in the Stock Fund on the Plan's records, as provided under the Plan's provisions.

(b)     Upon the attainment of age 55, a Participant shall be entitled to direct the investment of his Supplemental Contribution and Matching Contribution Accounts in such Investment Funds designated by the Administrator from time to time in accordance with procedures announced by the Administrator.

6.06         Protection of Trustee and Limitation of Liability

Each Trustee shall be fully protected in acting upon any instrument, certificate, or document believed by it to be genuine. The Trustee agrees to hold in trust and administer the Trust Fund subject to the terms and conditions of the Company, including as set forth under the Plan. The Trustee's responsibility shall be limited to holding and investing the assets of the Fund in its possession.

14

Media General, Inc.

Supplemental 401(k) Plan

Amended and Restated as of January 1, 2014

ARTICLE VII

PARTICIPANT ACCOUNTS

7.01         Accounts

The Administrator shall maintain on its books for each Participant a Supplemental Contribution Account and a Matching Contribution Account. The Trustee may establish and maintain such subaccounts as it deems necessary or desirable to fulfill the provisions of the Plan.

7.02         Adjustments of Accounts

The Administrator shall, as of each Valuation Date:

(a)     First, with respect to each Participant, reduce the balance of his Supplemental Contribution Account (until exhausted) and then the balance of his Matching Contribution Account, by the aggregate amount of all withdrawals and distributions provided to the Participant (or his Beneficiary) since the preceding Valuation Date;

(b)     Second, credit each Participant's Supplemental Contribution Account with the sum of the Supplemental Contributions made for his benefit for the period ending on such Valuation Date;

(c)     Third, credit each Participant's Matching Contribution Account with the Matching Contributions made for his benefit for the period ending on such Valuation Date; and

(d)     Fourth, adjust the respective balances of each Participant's Supplemental Contribution Account and Matching Contribution Account, to reflect the hypothetical earnings, losses and current fair market value allocable to such accounts, whether by reference to any Trust established by the Company for its convenience or otherwise.

In adjusting each unfunded account under subsection (d) above to track the current value of assets in a Trust Fund, the Administrator will allocate to each account (in proportion to the balances therein immediately prior to such adjustment) an amount equal to the gain and loss (realized and unrealized) on the assets of the Trust Fund, valued at fair market value (including any costs of operating the Trust). In the case of each Participant (including any former Participant or Beneficiary), the Plan shall continue to maintain the unfunded accounts described herein, and adjust such accounts in the manner set forth above, until such Participant's Accounts are distributed in their entirety.

15

Media General, Inc.

Supplemental 401(k) Plan

Amended and Restated as of January 1, 2014

ARTICLE VIII

DISTRIBUTION OF BENEFITS

8.01         Payment of Accounts

(a)     Timing of Payments. Upon the Participant's Separation from Service, each Participant will be entitled to receive a distribution of his Supplemental Contribution Account and Matching Contribution Account. A Participant may elect, at the time he completes his Compensation Reduction Election for a Plan Year, to have such Plan Year’s Account paid or begin to be paid:

(i)     on the first day of the month following the six-month anniversary of the Participant’s Separation from Service;

(ii)     on the first day of the month following the first anniversary of the Participant’s Separation from Service; or

(iii)     on the first day of the month following the second anniversary of the Participant’s Separation from Service.

In the event a Participant fails to make an election under this subsection, his Plan Year’s Account shall be paid or begin to be paid on the first day of the month following the six-month anniversary of the Participant’s Separation from Service.

(b)     Form of Payment. A Participant may elect, at the time he completes his Compensation Reduction Election for a Plan Year to have such Plan Year’s Account paid in a lump sum or in annual installments of two to ten years. In the event a Participant fails to make an election under this subsection, his payment shall be made in a lump sum in cash.

(c)     Deemed Payment Date. Payment made on a date or event specified in this Plan section or Plan section 8.02 shall be treated as made upon such date or event if it is made by the end of the calendar year in which such date or event occurs, or, if later, by the 15^th day of the third month following such date or event.

(d)     Change in the Time or Form of Payments. A Participant may change his or her election to a subsequent payout by submitting a new payment election form to the Administrator. Such election may not take effect until at least 12 months after the date on which the election is made, the election must be made at least 12 months before the payment is scheduled to be made, and the payment with respect to which such election is made must be deferred for a period not less than five years from the date the payment would otherwise be made or commence. The payment election form most recently accepted by the Administrator shall govern the payout of the benefits.

16

Media General, Inc.

Supplemental 401(k) Plan

Amended and Restated as of January 1, 2014

8.02         Payments to Beneficiary

If the Participant dies prior to receiving all Payments due him under the Plan, the Company (or the Trustee, at the direction of the Company) shall distribute all payments then due the Participant to the Participant's Beneficiary (at the time provided for in the Plan and in the amount that would have been provided to the Participant had he survived).

8.03         Beneficiary Designation

The Participant may from time to time, by signing a form approved by the Administrator, designate any legal or natural person or persons (who may be designated contingently or successively) to whom payments are to be made if the Participant dies before receiving payment of all amounts due hereunder. A beneficiary designation form will be effective only after the signed form is filed with the Administrator while the Participant is alive (and such designation will cancel, immediately upon filing, all beneficiary designations signed and filed previously). If the Participant fails to designate a Beneficiary as provided above, or if all designated Beneficiaries of the Participant die before the Participant or before complete payment of all amounts due hereunder, the Company shall pay any unpaid amounts to the Participant's estate.

8.04         Benefits Non-Assignable

Benefits payable to, or for the benefit of, a Participant or Beneficiary shall not be assignable and shall not be subject to the claims of creditors of such Participant or Beneficiary.

8.05         Claims Procedure

Any claim by a Participant or his Beneficiary for benefits shall be submitted to the Administrator. The Administrator shall be responsible for deciding whether such claim properly relates to benefits provided by the Plan and for providing a final decision with respect to such claim. In addition, the Administrator shall provide a full and fair review of the claim, in accordance with the procedures required by ERISA.

For all purposes under the Plan, the decision with respect to a claim (if no review is requested) or the decision with respect to a claim review (if review is requested) shall be final, binding and conclusive on all interested parties.

8.06         Anti-Acceleration

Notwithstanding anything in the Plan to the contrary, no change submitted on an election form shall be accepted by the Company if the change accelerates the time over which distributions shall be made to the Participant (except as other permitted under Code section 409A). The Company shall deny any change made to an election if the Company determines that the change violates the requirement under Code section 409A.

17

Media General, Inc.

Supplemental 401(k) Plan

Amended and Restated as of January 1, 2014

Notwithstanding the preceding, the Company, in its discretion, may accelerate distributions under the Plan in accordance with each of the payment events contained in Treasury Regulation section 1.409A-3(j)(4)(ii) through (xiv).

8.07         Special Election

A Participant may elect, prior to December 31, 2008, to have his Account paid in the time

and form described in Plan sections 8.01(a) and (b). Such election shall not apply to amounts otherwise payable in the year the election is made nor cause amounts to be paid in the year the election is made that would not otherwise be payable in that year. Subsequent changes to the time or form of payment of such cash amount shall be made only in accordance with Code Section 409A.

18

Media General, Inc.

Supplemental 401(k) Plan

Amended and Restated as of January 1, 2014

ARTICLE IX

AMENDMENT AND TERMINATION

9.01         Amendment

The Company reserves the right to amend, modify or terminate the Plan, in whole or in part, at any time or for any reason. Any such amendment, modification or termination of the Plan shall be made by a resolution adopted by the Board of Directors, provided, however, that any such amendment applicable to a Participant’s Account must satisfy Treasury Regulation section 1.409A-3(j)(4)(ix). Neither the termination of the Plan nor any amendment to the Plan, however, shall retroactively reduce any benefit payable to the Participant or Beneficiary (to the extent that such benefit was accrued and vested prior to the amendment, modification or termination).

9.02         Liability Upon Termination of the Plan

Upon completion of account distributions to all Participants (by the Company or any Trustee), the Plan will terminate, the Company and the Administrator will be relieved from all liability under the Plan, and no Participant or other person will have any further claims rights or other rights thereunder.

19

Media General, Inc.

Supplemental 401(k) Plan

Amended and Restated as of January 1, 2014

ARTICLE X

MISCELLANEOUS

10.01       Governing Law

This Plan shall be construed in accordance with applicable federal law and, to the extent otherwise applicable, the laws of the Commonwealth of Virginia.

10.02       Notices and Elections

All notices required to be given in writing and all elections required to be made in writing under any provision of the Plan shall be invalid unless made on such forms as may be provided or approved by the Administrator and, in the case of a notice or election by a Participant or Beneficiary, unless executed by the Participant or Beneficiary giving such notice or making such election. Notices and elections shall be deemed given or made when received by any member of the committee that serves as Administrator.

10.03       Binding Effect

The Plan shall be binding upon and inure to the benefit of the Company, its successors and assigns, and the Participant and his heirs, executors, administrators and legal representatives.

10.04       Severability

If any provision of the Plan should for any reason be declared invalid or unenforceable by a court of competent jurisdiction, the remaining provisions shall nevertheless remain in full force and effect.

10.05       Gender and Number

In the construction of the Plan, the masculine shall include the feminine or neuter and the singular shall include the plural and vice-versa in all cases where such meanings would be appropriate.

10.06       Titles and Captions

Titles and captions and headings herein have been inserted for convenience of reference only and are to be ignored in any construction of the provisions hereof.

10.07       Omnibus Provisions

(a)     Any benefit, payment or other right provided by the Plan shall be provided or made in a manner, and at such time, in such form and subject to such election procedures (if any), as complies with the applicable requirements of Code section 409A to avoid a plan failure described in Code section 409A(a)(1), including without limitation, deferring payment until the occurrence of a specified payment event described in Code section 409A(a)(2). Notwithstanding any other provision hereof or document pertaining hereto, the Plan shall be so construed and interpreted to meet the applicable requirements of Code section 409A to avoid a plan failure described in Code section 409A(a)(1).

20

Media General, Inc.

Supplemental 401(k) Plan

Amended and Restated as of January 1, 2014

(b)     It is specifically intended that all elections, consents and modifications thereto under the Plan will comply with the requirements of Code section 409A (including any transition or grandfather rules thereunder). The Company is authorized to adopt rules or regulations deemed necessary or appropriate in connection therewith to anticipate and/or comply the requirements of Code section 409A (including any transition or grandfather rules thereunder and to declare any election, consent or modification thereto void if non-compliant with Code section 409A.

21

EX-31

Exhibit 31.1

CERTIFICATION PURSUANT TO RULE 13a-14(a) and RULE 15d-14(a)

OF THE SECURITIES EXCHANGE ACT AS ADOPTED PURSUANT TO

SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, George L. Mahoney, certify that:

1. I have reviewed this quarterly report on Form 10-Q of Media General, Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a) designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this quarterly report is being prepared;

b) designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c) evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d) disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting: and

5. The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

a) all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

b) any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date:     November 6, 2013
	/s/ George L. Mahoney
	George L. Mahoney
	President and Chief Executive Officer

EX-31

Exhibit 31.2

CERTIFICATION PURSUANT TO RULE 13a-14(a) and RULE 15d-14(a)

OF THE SECURITIES EXCHANGE ACT AS ADOPTED PURSUANT TO

SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, James F. Woodward, certify that:

1. I have reviewed this quarterly report on Form 10-Q of Media General, Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a) designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this quarterly report is being prepared;

b) designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c) evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d) disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

a) all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

b) any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

 

Date:     November 6, 2013
	/s/ James F. Woodward
	James F. Woodward
	Vice President - Finance and Chief Financial Officer

EX-32

Exhibit 32

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of Media General, Inc. (the “Company”) on Form 10-Q for the quarterly period ended September 30, 2013, as filed with the Securities and Exchange Commission on the date hereof (the “Report”), we, George L. Mahoney, Chief Executive Officer, and James F. Woodward, Chief Financial Officer, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

1.     The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and

2.     The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

 

/s/ George L. Mahoney

George L. Mahoney

President and Chief Executive Officer
November 6, 2013     

/s/ James F. Woodward

James F. Woodward

Vice President - Finance and Chief Financial Officer
November 6, 2013     

XML

Note 11. Guarantor Financial Information

9 Months Ended

Sep. 30, 2013

Disclosure Text Block Supplement [Abstract]

Condensed Financial Statements [Text Block]

11.     The Company’s subsidiaries guarantee the debt securities of the parent company. The Company’s subsidiaries are 100% owned except for the Supplemental 401(k) Plan; all subsidiaries except those in the non-guarantor column (the Supplemental 401(k) Plan) currently guarantee the debt securities. These guarantees are full and unconditional and on a joint and several basis. The following financial information presents condensed consolidating balance sheets, statements of operations and statements of cash flows for the parent company, the Guarantor Subsidiaries and the Non-Guarantor Subsidiaries, together with certain eliminations.

Media General, Inc.

Condensed Consolidating Balance Sheet

As of September 30, 2013

(In thousands, unaudited)

	Media General Corporate			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Media General Consolidated
ASSETS
Current assets:
Cash and cash equivalents	$	15,084		$	331		$	-		$	-		$	15,415
Accounts receivable - net		-			58,667			-			-			58,667
Other		4,026			14,772			-			-			18,798
Total current assets		19,110			73,770			-			-			92,880
Investment in and advances to subsidiaries		(18,960	)		1,340,699			-			(1,321,739	)		-
Intercompany note receivable		588,739			-			-			(588,739	)		-
Other assets		44,725			5,602			236			-			50,563
Property, plant and equipment - net		19,088			141,265			-			-			160,353
FCC licenses and other intangibles - net		-			198,931			-			-			198,931
Excess cost over fair value of net identifiable assets of acquired businesses		-			247,149			-			-			247,149
TOTAL ASSETS	$	652,702		$	2,007,416		$	236		$	(1,910,478	)	$	749,876
LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)
Current liabilities:
Accounts payable	$	8,531		$	3,389		$	-		$	-		$	11,920
Accrued expenses and other liabilities		21,390			22,810			-			-			44,200
Total current liabilities		29,921			26,199			-			-			56,120
Long-term debt		296,454			5			-			-			296,459
Long-term debt - related party		291,934			-			-			-			291,934
Intercompany loan		-			588,739			-			(588,739	)		-
Retirement, post-retirement and post-employment plans		232,650			-			-			-			232,650
Deferred income taxes		-			68,091			-			-			68,091
Other liabilities and deferred credits		18,383			2,747			681			-			21,811
Stockholders' equity (deficit):
Common stock		140,769			2,801			-			(2,801	)		140,769
Additional paid-in capital		25,343			1,731,100			(965	)		(1,730,684	)		24,794
Accumulated other comprehensive loss		(215,884	)		-			-			-			(215,884	)
Retained earnings (accumulated deficit)		(166,868	)		(412,266	)		520			411,746			(166,868	)
Total stockholders' equity (deficit)		(216,640	)		1,321,635			(445	)		(1,321,739	)		(217,189	)
TOTAL LIABILITIES & STOCKHOLDERS' EQUITY (DEFICIT)	$	652,702		$	2,007,416		$	236		$	(1,910,478	)	$	749,876

Media General, Inc.

Condensed Consolidating Balance Sheet

As of December 31, 2012

(In thousands)

	Media General Corporate			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Media General Consolidated
ASSETS
Current assets:
Cash and cash equivalents	$	36,414		$	388		$	-		$	-		$	36,802
Accounts receivable - net		-			58,486			-			-			58,486
Other		6,562			11,931			-			-			18,493
Assets of discontinued operations		-			670			-			-			670
Total current assets		42,976			71,475			-			-			114,451
Investment in and advances to subsidiaries		14,281			1,346,705			-			(1,360,986	)		-
Intercompany note receivable		564,681			-			-			(564,681	)		-
Other assets		38,469			6,795			198			-			45,462
Property, plant and equipment - net		19,647			146,458			-			-			166,105
FCC licenses and other intangibles - net		-			200,254			-			-			200,254
Excess of cost over fair value of net identifiable assets of acquired businesses		-			247,149			-			-			247,149
TOTAL ASSETS	$	680,054		$	2,018,836		$	198		$	(1,925,667	)	$	773,421
LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)
Current liabilities:
Accounts payable	$	7,488		$	4,181		$	-		$	-		$	11,669
Accrued expenses and other liabilities		36,155			28,207			-			-			64,362
Liabilities of discontinued operations		-			467			-			-			467
Total current liabilities		43,643			32,855			-			-			76,498
Long-term debt		295,714			7			-			-			295,721
Long-term debt - related party		257,466			-									257,466
Intercompany loan		-			564,681			-			(564,681	)		-
Retirement, post-retirement and post-employment plans		242,309			-			-			-			242,309
Deferred income taxes		-			58,865			-			-			58,865
Other liabilities and deferred credits		15,567			2,442			777			-			18,786
Stockholders' equity (deficit):
Common stock		138,819			2,801			-			(2,801	)		138,819
Additional paid-in capital		24,603			1,733,641			(1,977	)		(1,733,243	)		23,024
Accumulated other comprehensive loss		(219,656	)		-			-			-			(219,656	)
Retained earnings (accumulated deficit)		(118,411	)		(376,456	)		1,398			375,058			(118,411	)
Total stockholders' equity (deficit)		(174,645	)		1,359,986			(579	)		(1,360,986	)		(176,224	)
TOTAL LIABILITIES & STOCKHOLDERS' EQUITY (DEFICIT)	$	680,054		$	2,018,836		$	198		$	(1,925,667	)	$	773,421

Media General, Inc.

Condensed Consolidating Statements of Operations

and Comprehensive Loss

Three Months Ended September 30, 2013

(In thousands, unaudited)

	Media General Corporate			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Media General Consolidated
Station revenue (less agency commissions)	$	6,414		$	78,489		$	-		$	(6,414	)	$	78,489
Operating costs:
Station production expenses		-			31,973			-			-			31,973
Station selling, general, and administrative expenses		-			29,714			-			(6,414	)		23,300
Corporate and other expenses		7,735			-			98			-			7,833
Depreciation and software amortization		450			5,066			-			-			5,516
Amortization of intangible assets		-			441			-			-			441
Net loss (gain) related to fixed assets		(22	)		32			-			-			10
Merger-related expenses		1,218			-			-			-			1,218
Total operating costs		9,381			67,226			98			(6,414	)		70,291
Operating income (loss)		(2,967	)		11,263			(98	)		-			8,198
Other income (expense):
Interest expense		(9,939	)		(21	)		-			-			(9,960	)
Interest expense - related party		(10,379	)		-			-			-			(10,379	)
Intercompany interest income (expense)		20,637			(20,637	)		-			-			-
Investment income (loss) - consolidated affiliates		(12,010	)		-			-			12,010			-
Other, net		42			-			-			-			42
Total other income (expense)		(11,649	)		(20,658	)		-			12,010			(20,297	)
Income (loss) before income taxes		(14,616	)		(9,395	)		(98	)		12,010			(12,099	)
Income tax expense		-			2,517			-			-			2,517
Net income (loss)	$	(14,616	)	$	(11,912	)	$	(98	)	$	12,010		$	(14,616	)
Comprehensive income (loss)	$	(13,416	)	$	(11,912	)	$	(98	)	$	12,010		$	(13,416	)

Media General, Inc.

Condensed Consolidating Statements of Operations

and Comprehensive Loss

Three Months Ended September 23, 2012

(In thousands, unaudited)

	Media General Corporate			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Media General Consolidated
Station revenue (less agency commissions)	$	7,622		$	93,789		$	-		$	(7,659	)	$	93,752
Operating costs:
Station production expenses		-			31,459			-			(1	)		31,458
Station selling, general, and administrative expenses		-			29,126			-			(7,621	)		21,505
Corporate and other expenses		11,662			285			146			-			12,093
Depreciation and software amortization		564			4,969			-			-			5,533
Amortization of intangible assets		-			442			-			-			442
(Gain) loss on disposal of assets, net		(120	)		338			-			-			218
Total operating costs		12,106			66,619			146			(7,622	)		71,249
Operating income (loss)		(4,484	)		27,170			(146	)		(37	)		22,503
Other income (expense):
Interest expense		(9,480	)		(17	)		-			-			(9,497	)
Interest expense - related party		(10,723	)		-			-			-			(10,723	)
Debt modification and extinguishment costs		(17,318	)		-			-			-			(17,318	)
Intercompany interest income (expense)		21,699			(21,699	)		-			-			-
Investment income (loss) - consolidated affiliates		(10,057	)		-			-			10,057			-
Other, net		30			10			-			-			40
Total other income (expense)		(25,849	)		(21,706	)		-			10,057			(37,498	)
Income (loss) from continuing operations before income taxes		(30,333	)		5,464			(146	)		10,020			(14,995	)
Income tax expense		-			3,406			-			-			3,406
Income (loss) from continuing operations		(30,333	)		2,058			(146	)		10,020			(18,401	)
Discontinued operations (net of tax):
Income (loss) from discontinued operations		-			(1,075	)		-			37			(1,038	)
Loss related to divestiture of discontinued operations		-			(10,894	)		-			-			(10,894	)
Net income (loss)	$	(30,333	)	$	(9,911	)	$	(146	)	$	10,057		$	(30,333	)
Comprehensive income (loss)	$	(30,333	)	$	(9,911	)	$	(146	)	$	10,057		$	(30,333	)

Media General, Inc.

Condensed Consolidating Statements of Operations

and Comprehensive Loss

Nine Months Ended September 30, 2013

(In thousands, unaudited)

	Media General Corporate			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Media General Consolidated
Station revenue (less agency commissions)	$	18,402		$	234,448		$	-		$	(18,402	)	$	234,448
Operating costs:
Station production expenses		-			95,388			-			-			95,388
Station selling, general, and administrative expenses		-			87,457			-			(18,402	)		69,055
Corporate and other expenses		23,743			-			878			-			24,621
Depreciation and software amortization		1,331			15,342			-			-			16,673
Amortization of intangible assets		-			1,323			-			-			1,323
Net loss (gain) related to fixed assets		(95	)		173			-			-			78
Merger-related expenses		8,389			-			-			-			8,389
Total operating costs		33,368			199,683			878			(18,402	)		215,527
Operating income (loss)		(14,966	)		34,765			(878	)		-			18,921
Other income (expense):
Interest expense		(28,721	)		(60	)		-			-			(28,781	)
Interest expense - related party		(30,297	)		-			-			-			(30,297	)
Intercompany interest income (expense)		62,103			(62,103	)		-			-			-
Investment income (loss) - consolidated affiliates		(36,688	)		-			-			36,688			-
Other, net		112			(244	)		-			-			(132	)
Total other income (expense)		(33,491	)		(62,407	)		-			36,688			(59,210	)
Income (loss) from continuing operations before income taxes		(48,457	)		(27,642	)		(878	)		36,688			(40,289	)
Income tax expense		-			7,725			-			-			7,725
Income (loss) from continuing operations		(48,457	)		(35,367	)		(878	)		36,688			(48,014	)
Discontinued operations (net of tax):
Loss from discontinued operations		-			(413	)		-			-			(413	)
Loss related to divestiture of operations		-			(30	)		-			-			(30	)
Net income (loss)	$	(48,457	)	$	(35,810	)	$	(878	)	$	36,688		$	(48,457	)
Comprehensive income (loss)	$	(44,685	)	$	(35,810	)	$	(878	)	$	36,688		$	(44,685	)

Media General, Inc.

Condensed Consolidating Statements of Operations

and Comprehensive Loss

Nine Months Ended September 23, 2012

(In thousands, unaudited)

	Media General Corporate			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Media General Consolidated
Station revenue (less agency commissions)	$	23,443		$	251,559		$	-		$	(23,938	)	$	251,064
Operating costs:
Station production expenses		-			92,832			-			(473	)		92,359
Station selling, general, and administrative expenses		-			86,959			-			(23,486	)		63,473
Corporate and other expenses		29,847			1,646			111			-			31,604
Depreciation and software amortization		2,062			15,062			-			-			17,124
Amorization of intangible assets		-			2,196			-			-			2,196
(Gain) loss on disposal of assets, net		(613	)		581			-			-			(32	)
Total operating costs		31,296			199,276			111			(23,959	)		206,724
Operating income (loss)		(7,853	)		52,283			(111	)		21			44,340
Other income (expense):
Interest expense		(41,362	)		(48	)		-			-			(41,410	)
Interest expense - related party		(15,618	)		-			-			-			(15,618	)
Debt modification and extinguishment costs		(35,415	)		-			-			-			(35,415	)
Intercompany interest income (expense)		57,270			(57,270	)		-			-			-
Investment income (loss) - consolidated affiliates		(168,572	)		-			-			168,572			-
Other, net		497			(45	)		-			-			452
Total other income (expense)		(203,200	)		(57,363	)		-			168,572			(91,991	)
Income (loss) from continuing operations before income taxes		(211,053	)		(5,080	)		(111	)		168,593			(47,651	)
Income tax expense		-			10,223			-			-			10,223
Income (loss) from continuing operations		(211,053	)		(15,303	)		(111	)		168,593			(57,874	)
Discontinued operations (net of tax):
Loss from discontinued operations		-			(10,567	)		-			(21	)		(10,588	)
Loss related to divestiture of discontinued operations		-			(142,591	)		-			-			(142,591	)
Net income (loss)	$	(211,053	)	$	(168,461	)	$	(111	)	$	168,572		$	(211,053	)
Comprehensive income (loss)	$	(211,053	)	$	(168,461	)	$	(111	)	$	168,572		$	(211,053	)

Media General, Inc.

Condensed Consolidating Statements of Cash Flows

Nine Months Ended September 30, 2013

(In thousands, unaudited)

	Media General Corporate			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Media General Consolidated
Cash flows from operating activities:
Net cash used by operating activities	$	(13,579	)	$	(13,233	)	$	(1,011	)	$	-		$	(27,823	)
Cash flows from investing activities:
Capital expenditures		(795	)		(10,993	)		-			-			(11,788	)
Collateral refund related to letters of credit		1,366			-			-			-			1,366
Net change in intercompany note receivable		(24,058	)		-			-			24,058			-
Other, net		(181	)		113			-			-			(68	)
Net cash (used) provided by investing activities		(23,668	)		(10,880	)		-			24,058			(10,490	)
Cash flows from financing activities:
Increase in related party borrowings		40,000			-			-			-			40,000
Repayment of related party borrrowings		(10,000	)		-			-			-			(10,000	)
Debt issuance costs		(16,243	)		-			-			-			(16,243	)
Net change in intercompany loan		-			24,058			-			(24,058	)		-
Other, net		2,160			(2	)		1,011			-			3,169
Net cash provided (used) by financing activities		15,917			24,056			1,011			(24,058	)		16,926
Net decrease in cash and cash equivalents		(21,330	)		(57	)		-			-			(21,387	)
Cash and cash equivalents at beginning of year		36,414			388			-			-			36,802
Cash and cash equivalents at end of period	$	15,084		$	331		$	-		$	-		$	15,415

Media General, Inc.

Condensed Consolidating Statements of Cash Flows

Nine Months Ended September 23, 2012

(In thousands, unaudited)

	Media General Corporate			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Media General Consolidated
Cash flows from operating activities:
Net cash (used) provided by operating activities	$	(99,462	)	$	117,937		$	(40	)	$	-		$	18,435
Cash flows from investing activities:
Capital expenditures		(1,604	)		(5,659	)		-			-			(7,263	)
Collateral deposit related to letters of credit		(10,271	)		-			-			-			(10,271	)
Net change in intercompany note receivable		114,110			-			-			(114,110	)		-
Proceeds from dispositions		139,902			-			-			-			139,902
Other, net		894			1,092			-			-			1,986
Net cash (used) provided by investing activities		243,031			(4,567	)		-			(114,110	)		124,354
Cash flows from financing activities:
Increase in borrowings		13,000			-			-			-			13,000
Increase in related party borrowings		382,500			-			-			-			382,500
Repayment of borrowings		(377,298	)		-			-			-			(377,298	)
Repayment of related party borrowings		(126,963	)		-			-			-			(126,963	)
Debt issuance costs		(28,772	)		-			-			-			(28,772	)
Net change in intercompany loan		-			(114,110	)		-			114,110			-
Other, net		55			(9	)		40			-			86
Net cash (used) provided by financing activities		(137,478	)		(114,119	)		40			114,110			(137,447	)
Net increase (decrease) in cash and cash equivalents		6,091			(749	)		-			-			5,342
Cash and cash equivalents at beginning of year		21,674			1,434			-			-			23,108
Cash and cash equivalents at end of period	$	27,765		$	685		$	-		$	-		$	28,450

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Consolidated Condensed Statements of Operations (Unaudited) (USD $) In Thousands, except Per Share data, unless otherwise specified	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 23, 2012	Sep. 30, 2013	Sep. 23, 2012
Station revenue (less agency commissions)	$ 78,489	$ 93,752	$ 234,448	$ 251,064
Operating costs:
Station production expenses	31,973	31,458	95,388	92,359
Station selling, general and administrative expenses	23,300	21,505	69,055	63,473
Corporate and other expenses	7,833	12,093	24,621	31,604
Depreciation and software amortization	5,516	5,533	16,673	17,124
Amortization of intangible assets	441	442	1,323	2,196
Net loss (gain) related to fixed assets	10	218	78	(32)
Merger-related expenses	1,218		8,389
Total operating costs	70,291	71,249	215,527	206,724
Operating income	8,198	22,503	18,921	44,340
Other income (expense):
Interest expense	(9,960)	(9,497)	(28,781)	(41,410)
Interest expense - related party	(10,379)	(10,723)	(30,297)	(15,618)
Debt modification and extinguishment costs		(17,318)		(35,415)
Other, net	42	40	(132)	452
Total other expense	(20,297)	(37,498)	(59,210)	(91,991)
Loss from continuing operations before income taxes	(12,099)	(14,995)	(40,289)	(47,651)
Income tax expense	2,517	3,406	7,725	10,223
Loss from continuing operations	(14,616)	(18,401)	(48,014)	(57,874)
Discontinued operations:
Loss from discontinued operations (net of taxes)		(1,038)	(413)	(10,588)
Loss related to divestiture of discontinued operations (net of taxes)		(10,894)	(30)	(142,591)
Net loss	$ (14,616)	$ (30,333)	$ (48,457)	$ (211,053)
Net loss per common share:
Loss from continuing operations (in Dollars per share)	$ (0.53)	$ (0.81)	$ (1.74)	$ (2.56)
Loss from discontinued operations (in Dollars per share)		$ (0.53)	$ (0.02)	$ (6.79)
Net loss per common share – basic and assuming dilution (in Dollars per share)	$ (0.53)	$ (1.34)	$ (1.76)	$ (9.35)

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Note 4. Summary of Disposition

9 Months Ended

Sep. 30, 2013

Disclosure Text Block Supplement [Abstract]

Mergers, Acquisitions and Dispositions Disclosures [Text Block]

4.     In January of 2013, the Company sold the intellectual property and certain tangible assets of Blockdot for a nominal amount; the Company retained Blockdot’s working capital and certain operating leases in Dallas, Texas. In 2012, the Company recorded a $2.5 million loss related to the anticipated sale of Blockdot; the Company recorded an additional loss of $30 thousand related to the sale in the first quarter of 2013. In the third quarter of 2012, the Company sold all of its newspapers and associated websites (with the exception of the Tampa group) to World Media Enterprises, Inc. (World Media), a subsidiary of Berkshire Hathaway. In the fourth quarter of 2012, the Company completed the sale of its Tampa print properties and associated websites to Tampa Media Group, Inc., a new company formed by Revolution Capital Group. During the second quarter of 2012, the Company also sold DealTaker for a nominal amount, shut down its Production Services company which provided broadcast equipment and design services and discontinued its NetInformer operations. The Company recorded after-tax losses related to the divestiture of discontinued operations of $11 million and $143 million in the third quarter and first nine months of 2012, respectively. The total year-to-date 2012 after-tax loss included an estimated loss on the sale of newspapers to World Media of $112 million, an estimated loss on the sale of the Tampa print properties of $24 million, an estimated loss on the sale of Blockdot of $2.4 million and a loss on the sale of DealTaker of $3.9 million. As of September 30, 2013, the Company has substantially completed its transition service obligations to World Media and Tampa Media.

As illustrated in the following chart, the results of these newspapers (as well as their associated websites), DealTaker, Blockdot, NetInformer and the Company’s Production Services unit have been presented as discontinued operations in the accompanying consolidated condensed statements of operations for the three and nine months ended September 30, 2013, and September 23, 2012. Depreciation and amortization on assets related to these properties ceased as of the date in 2012 that each disposal group qualified for held-for-sale treatment. The accompanying consolidated condensed balance sheet for 2012 presents assets and liabilities of discontinued operations separately from those of continuing operations. After recording a $2.5 million loss related to the expected divestiture of Blockdot, assets of discontinued operations as of December 31, 2012, were $670 thousand. Liabilities of discontinued operations of approximately $467 thousand at December 31, 2012, consisted primarily of accounts payable and accrued expenses.

	Loss from Discontinued Operations
	Three Months  Ended		Three Months Ended			Nine Months Ended			Nine Months Ended
(In thousands)	Sept. 30, 2013		Sept. 23, 2012			Sept. 30, 2013			Sept. 23, 2012
Revenues	$	-	$	18,491		$	110		$	169,805
Costs and expenses		-		19,527			523			179,205
Loss before income taxes		-		(1,036	)		(413	)		(9,400	)
Income tax expense		-		2			-			1,188
Loss from discontinued operations	$	-	$	(1,038	)	$	(413	)	$	(10,588	)

The Company owned and operated Blockdot for part of January 2013; revenues and expenses related to this period are reflected above. When the Company sold Blockdot, it retained certain operating leases for space that the Company will no longer utilize. The Company recorded a net loss of approximately $100 thousand related to the operating leases during the nine months ended September 30, 2013.

The Company performed an interim impairment test on DealTaker as of the end of the first quarter 2012, which resulted in a non-cash goodwill and other intangible asset impairment charge of $6.5 million net of a tax benefit of $3.6 million included in the loss from discontinued operations for the nine months ended September 23, 2012.

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Note 2. Merger (Details) (USD $) In Thousands, except Share data in Millions, unless otherwise specified	3 Months Ended	4 Months Ended	9 Months Ended
	Sep. 30, 2013	Sep. 30, 2013	Sep. 30, 2013
Note 2. Merger (Details) [Line Items]
Percent of the Company's Directors Elected by Shareholders	70.00%	70.00%	70.00%
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in Shares)		60.2
Business Combination, Acquisition Related Costs (in Dollars)	$ 1,218		$ 8,389
Media General [Member]
Note 2. Merger (Details) [Line Items]
Business Acquisition, Percentage of Voting Interests Acquired	32.50%	32.50%	32.50%
Young [Member]
Note 2. Merger (Details) [Line Items]
Business Acquisition, Percentage of Voting Interests Acquired	67.50%	67.50%	67.50%

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Note 3. Long-Term Debt and Other Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2013

Long Term Debt Financial Instruments And Derivatives [Abstract]

Schedule of Debt [Table Text Block]

(In thousands)	Sept. 30, 2013			Dec. 31, 2012
Term loan:
Face value	$	301,537		$	301,537
Remaining original issue discount		(28,808	)		(32,058	)
Remaining warrant discount		(10,795	)		(12,013	)
Carrying value		261,934			257,466
Revolving credit facility ($15 million remaining availability at 9/30/2013)		30,000			-
11.75% senior secured notes:
Face value		299,800			299,800
Remaining original issue discount		(3,346	)		(4,091	)
Carrying value		296,454			295,709
Capital lease liability		5			12
Total carrying value	$	588,393		$	553,187

Fair Value, by Balance Sheet Grouping [Table Text Block]

	Sept. 30, 2013				December 31, 2012
(In thousands)	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Assets:
Investments
Trading	$	236	$	236	$	198	$	198
Liabilities:
Long-term debt:
Revolving credit facility ($15 million remaining availability at 9/30/13)		30,000		30,000		-		-
Term loan		261,934		345,260		257,466		343,746
11.75% senior secured notes		296,454		327,906		295,709		346,269

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Note 9. Stockholders' Equity (Details) - Statement of Stockholders’ Equity (USD $) In Thousands, except Share data, unless otherwise specified	3 Months Ended		9 Months Ended					9 Months Ended
	Sep. 30, 2013	Sep. 23, 2012	Sep. 30, 2013	Sep. 23, 2012	Sep. 30, 2013 Common Stock [Member] Common Class A [Member]	Sep. 30, 2013 Common Stock [Member] Common Class B [Member]	Dec. 31, 2012 Common Stock [Member] Common Class B [Member]	Sep. 30, 2013 Additional Paid-in Capital [Member]	Sep. 30, 2013 Accumulated Other Comprehensive Income (Loss) [Member]	Sep. 30, 2013 Retained Earnings [Member]
Note 9. Stockholders' Equity (Details) - Statement of Stockholders’ Equity [Line Items]
Balance at December 31, 2012 (in Shares)					27,215,117
Balance at December 31, 2012			$ (176,224)		$ 136,076	$ 2,743	$ 2,743	$ 23,024	$ (219,656)	$ (118,411)
Net loss	(14,616)	(30,333)	(48,457)	(211,053)						(48,457)
Other comprehensive income, net of taxes	1,200		3,772						3,772
Exercise of stock options (in Shares)					432,112
Exercise of stock options			2,163		2,161			2
Performance accelerated restricted stock (in Shares)					(42,143)
Performance accelerated restricted stock			(181)		(211)			30
Stock-based compensation			723					723
Other (in Shares)					149
Other			1,015					1,015
Balance at September 30, 2013 (in Shares)					27,605,235
Balance at September 30, 2013	$ (217,189)		$ (217,189)		$ 138,026	$ 2,743	$ 2,743	$ 24,794	$ (215,884)	$ (166,868)

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Note 3. Long-Term Debt and Other Financial Instruments (Details) - Carrying value of long-term debt: (Parentheticals) (Revolving Credit Facility [Member], USD $) In Millions, unless otherwise specified	Sep. 30, 2013
Revolving Credit Facility [Member]
Note 3. Long-Term Debt and Other Financial Instruments (Details) - Carrying value of long-term debt: (Parentheticals) [Line Items]
Revolving credit facility, remaining availability (in Dollars)	$ 15

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Note 3. Long-Term Debt and Other Financial Instruments (Details) - Carrying value of long-term debt: (USD $) In Thousands, unless otherwise specified	Sep. 30, 2013	Jul. 31, 2013	Dec. 31, 2012
Term loan:
Carrying value	$ 588,393		$ 553,187
Capital lease liability	5		12
Term Loan [Member]
Term loan:
Face value	301,537	885,000	301,537
Remaining original issue discount	(28,808)		(32,058)
Remaining warrant discount	(10,795)		(12,013)
Carrying value	261,934		257,466
Senior Notes [Member]
Term loan:
Face value	299,800		299,800
Remaining original issue discount	(3,346)		(4,091)
Carrying value	296,454		295,709
Revolving Credit Facility [Member]
Term loan:
Revolving credit facility ($15 million remaining availability at 9/30/2013)	$ 30,000

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Note 7. Earnings Per Share (Details) In Thousands, unless otherwise specified	3 Months Ended	9 Months Ended	3 Months Ended	9 Months Ended
	Sep. 30, 2013 Equity Option [Member]	Sep. 30, 2013 Equity Option [Member]	Sep. 23, 2012 Warrant [Member]	Sep. 23, 2012 Warrant [Member]
Note 7. Earnings Per Share (Details) [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	400	200	4,600	2,100

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Note 11. Guarantor Financial Information (Details) (Guarantor Subsidiaries [Member])	Sep. 30, 2013
Guarantor Subsidiaries [Member]
Note 11. Guarantor Financial Information (Details) [Line Items]
Equity Method Investment, Ownership Percentage	100.00%

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Note 4. Summary of Disposition (Details) - Summary of Discontinued Operation's Income (Loss) (USD $) In Thousands, unless otherwise specified	3 Months Ended	9 Months Ended
	Sep. 23, 2012	Sep. 30, 2013	Sep. 23, 2012
Summary of Discontinued Operation's Income (Loss) [Abstract]
Revenues	$ 18,491	$ 110	$ 169,805
Costs and expenses	19,527	523	179,205
Loss before income taxes	(1,036)	(413)	(9,400)
Income tax expense	2		1,188
Loss from discontinued operations	$ (1,038)	$ (413)	$ (10,588)

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Note 11. Guarantor Financial Information (Details) - Condensed Consolidating Statements of Cash Flows (Unaudited) (USD $) In Thousands, unless otherwise specified	9 Months Ended
	Sep. 30, 2013	Sep. 23, 2012
Cash flows from operating activities:
Net cash (used) provided by operating activities	$ (27,823)	$ 18,435
Cash flows from investing activities:
Capital expenditures	(11,788)	(7,263)
Collateral deposit related to letters of credit	1,366	(10,271)
Proceeds from dispositions		139,902
Other, net	(68)	1,986
Net cash (used) provided by investing activities	(10,490)	124,354
Cash flows from financing activities:
Increase in borrowings		13,000
Increase in related party borrowings	40,000	382,500
Repayment of borrowings		(377,298)
Repayment of related party borrrowings	(10,000)	(126,963)
Debt issuance costs	(16,243)	(28,772)
Other, net	3,169	86
Net cash (used) provided by financing activities	16,926	(137,447)
Net increase (decrease) in cash and cash equivalents	(21,387)	5,342
Cash and cash equivalents at beginning of period	36,802	23,108
Cash and cash equivalents at end of period	15,415	28,450
Media General Corporate [Member]
Cash flows from operating activities:
Net cash (used) provided by operating activities	(13,579)	(99,462)
Cash flows from investing activities:
Capital expenditures	(795)	(1,604)
Collateral deposit related to letters of credit	1,366	(10,271)
Net change in intercompany note receivable	(24,058)	114,110
Proceeds from dispositions		139,902
Other, net	(181)	894
Net cash (used) provided by investing activities	(23,668)	243,031
Cash flows from financing activities:
Increase in borrowings		13,000
Increase in related party borrowings	40,000	382,500
Repayment of borrowings		(377,298)
Repayment of related party borrrowings	(10,000)	(126,963)
Debt issuance costs	(16,243)	(28,772)
Other, net	2,160	55
Net cash (used) provided by financing activities	15,917	(137,478)
Net increase (decrease) in cash and cash equivalents	(21,330)	6,091
Cash and cash equivalents at beginning of period	36,414	21,674
Cash and cash equivalents at end of period	15,084	27,765
Guarantor Subsidiaries [Member]
Cash flows from operating activities:
Net cash (used) provided by operating activities	(13,233)	117,937
Cash flows from investing activities:
Capital expenditures	(10,993)	(5,659)
Other, net	113	1,092
Net cash (used) provided by investing activities	(10,880)	(4,567)
Cash flows from financing activities:
Net change in intercompany loan	24,058	(114,110)
Other, net	(2)	(9)
Net cash (used) provided by financing activities	24,056	(114,119)
Net increase (decrease) in cash and cash equivalents	(57)	(749)
Cash and cash equivalents at beginning of period	388	1,434
Cash and cash equivalents at end of period	331	685
Non-Guarantor Subsidiaries [Member]
Cash flows from operating activities:
Net cash (used) provided by operating activities	(1,011)	(40)
Cash flows from financing activities:
Other, net	1,011	40
Net cash (used) provided by financing activities	1,011	40
Consolidation, Eliminations [Member]
Cash flows from investing activities:
Net change in intercompany note receivable	24,058	(114,110)
Net cash (used) provided by investing activities	24,058	(114,110)
Cash flows from financing activities:
Net change in intercompany loan	(24,058)	114,110
Net cash (used) provided by financing activities	$ (24,058)	$ 114,110

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Note 3. Long-Term Debt and Other Financial Instruments (Details) (USD $) Share data in Millions, unless otherwise specified	1 Months Ended	3 Months Ended			9 Months Ended			3 Months Ended		1 Months Ended			9 Months Ended			5 Months Ended	2 Months Ended	3 Months Ended	2 Months Ended	5 Months Ended	2 Months Ended			3 Months Ended	9 Months Ended		2 Months Ended
	Mar. 31, 2012	Sep. 30, 2013	Sep. 23, 2012	Jun. 24, 2012	Sep. 30, 2013	Sep. 23, 2012	May 31, 2012	Sep. 30, 2013 Unfunded Term Loan Commitment [Member]	Sep. 30, 2013 Warrant Agreement with Berkshire Hathaway [Member]	Jun. 30, 2012 BH Finance LLC [Member] Term Loan [Member]	Sep. 30, 2013 BH Finance LLC [Member] Term Loan [Member]	May 31, 2012 BH Finance LLC [Member] Term Loan [Member]	Sep. 30, 2013 BH Finance LLC [Member] Revolving Credit Facility [Member]	May 31, 2012 BH Finance LLC [Member] Revolving Credit Facility [Member]	Sep. 30, 2013 BH Finance LLC [Member] Step Down Percentage if Total Leverage Reaches Threshold [Member] Term Loan [Member]	May 31, 2012 London Interbank Offered Rate (LIBOR) [Member] Previous Bank Credit Facility [Member]	Sep. 30, 2013 London Interbank Offered Rate (LIBOR) [Member] Term Loan [Member]	Sep. 30, 2013 London Interbank Offered Rate (LIBOR) [Member] Shield Media Term Loan [Member]	Sep. 30, 2013 London Interbank Offered Rate (LIBOR) [Member] Revolving Credit Facility [Member]	May 31, 2012 Previous Bank Credit Facility [Member]	Sep. 30, 2013 Term Loan [Member]	Jul. 31, 2013 Term Loan [Member]	Dec. 31, 2012 Term Loan [Member]	Sep. 30, 2013 Shield Media Term Loan [Member]	Sep. 30, 2013 Senior Notes [Member]	Dec. 31, 2012 Senior Notes [Member]	Sep. 30, 2013 Revolving Credit Facility [Member]	Jul. 31, 2013 Revolving Credit Facility [Member]
Note 3. Long-Term Debt and Other Financial Instruments (Details) [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity (in Dollars)														$ 45,000,000													$ 30,000,000	$ 60,000,000
Debt Instrument, Face Amount (in Dollars)											302,000,000										301,537,000	885,000,000	301,537,000		299,800,000	299,800,000
Debt Instrument, Term																					7 years			5 years			5 years
Debt Instrument, Basis Spread on Variable Rate																7.00%	3.25%	3.25%	2.75%
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Minimum																	1.00%			1.50%
Payments of Debt Issuance Costs (in Dollars)		16,000,000			16,243,000	28,772,000
Debt Related Commitment Fees and Debt Issuance Costs (in Dollars)								500,000
Debt Instrument, Interest Rate, Stated Percentage								3.25%			10.50%				9.00%										11.75%	11.75%
Long-term Debt, Gross (in Dollars)												400,000,000												32,000,000
Line of Credit Facility, Remaining Borrowing Capacity (in Dollars)																											15,000,000
Debt Instrument Issuance Price Percentage Of Face Value																									97.69%
Repayments of Long-term Debt (in Dollars)										98,000,000
Loan Discount, Percent												11.50%
Debt Instrument Repayment Prior To Maturity Price As Percentage Of Principal Amount												100.00%
Debt Instrument, Call Premium, Percentage												14.50%													5.875%
Line of Credit Facility, Interest Rate at Period End													10.00%
Line of Credit Facility, Commitment Fee Percentage													2.00%							2.50%
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in Shares)									4.6
Debt Instrument, Redemption Price, Percentage of Principal Amount Redeemed																									100.00%
Debt Modifications And Extinguishment Costs Related To Secured Financing (in Dollars)			17,318,000			35,415,000
Debt Modifications and Extinguishment Costs Related to Secured Financing with Berkshire Hathaway and Repayment of Previous Credit Facility (in Dollars)				7,700,000
Deferred Finance Costs, Gross (in Dollars)							11,500,000
Debt Modification and Extinguishment Costs Relating to Amendment of Previous Bank Credit Agreement (in Dollars)	10,400,000
Payment-in-kind (PIK) Interest, Percentage																				1.50%
PIK Interest Paid (in Dollars)																				$ 1,000,000

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Consolidated Condensed Statements of Cash Flows (Unaudited) (USD $) In Thousands, unless otherwise specified	9 Months Ended
	Sep. 30, 2013	Sep. 23, 2012
Net loss	$ (48,457)	$ (211,053)
Adjustments to reconcile net loss:
Depreciation and software amortization	16,673	24,759
Amortization of intangible assets	1,323	2,332
Deferred income taxes	9,853	15,021
Intraperiod tax allocation	(2,128)
Loss related to divestiture of discontinued operations (net of taxes)	30	142,591
Goodwill and other asset impairment (net of taxes)		6,472
Non-cash interest expense	7,036	6,773
Debt modification and extinguishment costs		35,415
Change in assets and liabilities:
Company owned life insurance (cash surrender value less policy loans including repayments)	8,965	(949)
Accounts receivable	584	5,439
Accounts payable, accrued expenses, and other liabilities	(23,034)	2,507
Retirement plan contributions	(3,803)	(9,097)
Other, net	5,135	(1,775)
Net cash (used) provided by operating activities	(27,823)	18,435
Investing activities:
Capital expenditures	(11,788)	(7,263)
Collateral refund (deposit) related to letters of credit	1,366	(10,271)
Net proceeds from sales of discontinued operations		139,902
Other, net	(68)	1,986
Net cash (used) provided by investing activities	(10,490)	124,354
Financing activities:
Increase in borrowings		13,000
Increase in related party borrowings	40,000	382,500
Repayment of borrowings		(377,298)
Repayment of related party borrowings	(10,000)	(126,963)
Debt issuance costs	(16,243)	(28,772)
Other, net	3,169	86
Net cash provided (used) by financing activities	16,926	(137,447)
Net (decrease) increase in cash and cash equivalents	(21,387)	5,342
Cash and cash equivalents at beginning of period	36,802	23,108
Cash and cash equivalents at end of period	15,415	28,450
Cash paid for interest	60,586	52,599
Non-cash financing activities:
Issuance of common stock warrants		$ (16,912)

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Note 2. Merger

9 Months Ended

Sep. 30, 2013

Business Combinations [Abstract]

Business Combination Disclosure [Text Block]

2.     On June 6, 2013, the Company and New Young Broadcasting Holding Co., Inc. (Young) announced an agreement to combine the two companies in an all-stock merger transaction. Under the merger agreement, the Company will reclassify each outstanding share of its Class A and Class B common stock into one share of a new class of Media General voting common stock, which will be entitled to elect all of Media General’s directors. One holder of shares of Class A common stock will receive (certain of their) shares in a separate class of unlisted Media General non-voting common stock. Each share of Media General non-voting common stock will be convertible into one share of voting common stock and each share of Media General voting common stock will be convertible into one share of non-voting common stock, in each case subject to certain limitations to be reflected in the Articles of Incorporation. No additional consideration will be paid to the Class B shareholders for giving up their right to directly elect 70% of Media General’s directors. Media General will issue to Young’s equityholders approximately 60.2 million shares of Media General voting common stock (or, to the extent elected by Young’s equityholders, shares of Media General non-voting common stock). It is estimated that immediately following closing, the shareholders of Media General immediately prior to closing will hold approximately 32.5% of the fully diluted shares of the Company and the equityholders of Young immediately prior to closing will hold approximately 67.5% of the fully diluted shares of the Company. The new class of Media General voting common stock is expected to be listed on the NYSE and trade under the symbol MEG. The transaction has been unanimously approved by the Media General Board of Directors and the Young Board of Directors. It also has received the necessary approval of Young’s equityholders. The combined company will retain the Media General name and will be headquartered in Richmond, Virginia. The closing of the transaction is subject to the approval of various matters relating to the transaction by Media General’s Class A and Class B shareholders and the satisfaction of other customary conditions. The Company has called a Special Meeting of its shareholders to be held on November 7, 2013, to consider and vote on matters necessary to complete the transaction contemplated by the merger agreement. The Company expects to complete the transaction in November of 2013, if its shareholders provide approval at the Special Meeting and FCC approval is received, as expected. The Company incurred $1.2 million and $8.4 million, respectively, of investment banking, legal and accounting fees and expenses for the three and nine months ended September 30, 2013 related to the pending merger with Young.

The merger will be accounted for as a reverse acquisition in accordance with FASB Accounting Standards Codification Topic 805 (ASC 805), Business Combination. For financial reporting purposes, Young will be the acquirer and the continuing reporting entity. Consequently, the reports filed by Media General, the legal acquirer and the continuing public corporation in the transaction, after the date of the transaction will be prepared with Young as the successor entity. Accordingly, prior period financial information presented in the Media General financial statements will reflect the historical activity of Young.

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Note 5. Related Party

9 Months Ended

Sep. 30, 2013

Related Party Transactions [Abstract]

Related Party Transactions Disclosure [Text Block]

5.     Berkshire Hathaway and its wholly owned subsidiary, World Media, are considered related parties of Media General. As described in Notes 3 and 4, the Company consummated financing arrangements, granted warrants that were exercised, sold most of its newspaper assets and engaged in a series of transition services with Berkshire Hathaway. At the time of the original agreements for the financing arrangements (including the warrant agreement) and the sale of the newspaper assets, the Company and Berkshire Hathaway were not then related parties. The consummation of, along with the exercise of rights under, those agreements created the related-party status.

As of September 30, 2013, Berkshire Hathaway owned approximately 17% of the Class A shares of the Company and had recommended to the Company an individual who is actively serving as a Director in accordance with the Shareholder Agreement. Berkshire Hathaway was also the counterparty to the Company’s term loan and revolving line of credit. Following the sale of the Company’s newspaper assets, the Company and World Media engaged in a series of transition services to effectuate the transfer in a smooth and orderly fashion. The Company provided World Media services and support in the areas of information technology and digital for fees that were designed to approximate the Company’s cost. Payments received from World Media for these transition services totaled approximately $350 thousand and $1.6 million, respectively, for the three and nine months ended September 30, 2013. During the three and nine months ended September 30, 2013, the Company also was reimbursed for approximately $30 thousand and $1.3 million, respectively, of medical claims paid on behalf of World Media, as compared to approximately $1.6 million for the three and nine months ended September 23, 2012. World Media provided services and support to the Company in the areas of information technology support, billing and remittance processing for fees that were designed to approximate World Media’s cost. Payments for these services totaled approximately $10 thousand and $150 thousand during the three and nine months ended September 30, 2013, respectively, as compared to $230 thousand for the three and nine months ended September 23, 2012. In addition, the Company passed along approximately $100 thousand and $600 thousand, respectively, of other collections to World Media during the three and nine months ended September 30, 2013 as compared to $70 thousand for the three and nine months ended September 23, 2012.

As of September 30, 2013, the Company had a receivable for transition services of approximately $200 thousand included in the line item “Other” current assets on the consolidated condensed balance sheet.

During the three and nine months ended September 30, 2013, the Company made interest payments of $8.8 million and $25 million, respectively, to Berkshire Hathaway as compared to $5.1 million, for the three and nine months ended September 23, 2012. As of September 30, 2013, the Company had accrued interest payable to Berkshire Hathaway of approximately $100 thousand included in the line item “Accrued expenses and other liabilities” on the consolidated condensed balance sheet.

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Note 3. Long-Term Debt and Other Financial Instruments

9 Months Ended

Sep. 30, 2013

Long Term Debt Financial Instruments And Derivatives [Abstract]

Long Term Debt Financial Instruments And Derivatives [Text Block]

3.     On July 31, 2013, the Company entered into a new credit agreement with a syndicate of lenders, the funding of which is contingent upon successful completion of the merger with Young, which will provide the combined company with a $60 million revolving credit facility and an $885 million term loan. The revolving credit facility has a term of five years and will bear interest at LIBOR plus a margin of 2.75%. The $885 million term loan has a term of seven years and will bear interest at LIBOR (with a LIBOR floor of 1%) plus a margin of 3.25%. The Company paid approximately $16 million of transaction-related fees in the third quarter. The Company also incurred $0.5 million of fees on the unfunded term loan commitment during the third quarter. The fees will continue to accrue at an annual rate of 3.25% of the unfunded term loan commitment until the Company fully draws down the term loan. When drawn following the merger, the new credit agreement will be guaranteed by the combined company and its subsidiaries, and secured by liens on substantially all of the assets of the combined company.

Shield Media LLC (and its subsidiary WXXA-TV LLC) and Shield Media Lansing (and its subsidiary WLAJ-TV LLC) (collectively, “Shield Media”), companies controlling subsidiaries with which Young has shared services arrangements for two stations, entered into a new credit agreement with a syndicate of lenders, dated July 31, 2013, contingent on successful completion of the Young merger, which will refinance its outstanding aggregate $32 million term loans under one credit agreement. The existing Shield Media term loans are guaranteed on a secured basis by Young which will continue to provide its guarantee, secured by the same collateral, for the combined refinanced facility. The new Shield Media term loan has a term of five years and will bear interest at LIBOR plus a margin of 3.25%. Upon completion of the merger and repayment of the 11.75% senior secured notes, the new Shield Media term loan will be guaranteed by the combined company and its subsidiaries. These guarantees will be secured by liens on substantially all of the assets of the combined company, on a pari passu basis with the new Media General credit agreement.

The new Media General credit agreement contains a leverage ratio covenant, which involves debt levels and a rolling eight-quarter calculation of EBITDA, as defined in the agreement. Additionally, the agreement has restrictions on certain transactions including the incurrence of additional debt, capital leases, investments, additional acquisitions, asset sales and restricted payments (including dividends and share repurchases) as defined in the agreement. The new Shield Media credit agreement contains a fixed charge coverage ratio, a financial covenant that is meant to measure whether the borrowers can satisfy their fixed charges (interest, debt payments, capital expenditures and taxes) when due by measuring fixed charges to EBITDA, calculated on a rolling eight-quarter basis, as defined in the agreement.   The agreement also has restrictions on transactions similar in nature to those in the new Media General credit agreement, but scaled to Shield Media’s smaller size.  Additionally, the agreement has more specific covenants regarding the operation of the Shield Media business and requires that each Shield Media holding company that controls a Shield Media station limit its activities to performance of its obligations under the Shield Media credit documents, and activities incidental thereto, including owning a Shield Media station and performance of its obligations under and activities related to the shared services agreement. Both the Media General and Shield Media credit agreements contain cross-default provisions.

The Company anticipates borrowing under the new Media General credit agreement and the new Shield Media credit agreement in order to repay the existing debt of both Media General and Young shortly after the merger closes.

Long-term debt at September 30, 2013, and December 31, 2012, was as follows:

(In thousands)	Sept. 30, 2013			Dec. 31, 2012
Term loan:
Face value	$	301,537		$	301,537
Remaining original issue discount		(28,808	)		(32,058	)
Remaining warrant discount		(10,795	)		(12,013	)
Carrying value		261,934			257,466
Revolving credit facility ($15 million remaining availability at 9/30/2013)		30,000			-
11.75% senior secured notes:
Face value		299,800			299,800
Remaining original issue discount		(3,346	)		(4,091	)
Carrying value		296,454			295,709
Capital lease liability		5			12
Total carrying value	$	588,393		$	553,187

As of September 30, 2013, the Company had in place a term loan with a face value of $302 million and a revolving credit facility with a $30 million outstanding balance and remaining availability of $15 million. Also outstanding were 11.75% senior secured notes with a face value of $300 million that were issued at a price equal to 97.69% of face value. The Company’s term loan with Berkshire Hathaway as lender, matures in May 2020 and bears an interest rate of 10.5% but the rate could decrease to 9% based on the Company’s leverage ratio, as defined in the agreement. The Company was in compliance with the provisions of both agreements at September 30, 2013.

In May 2012, the Company consummated a financing arrangement with BH Finance LLC, an affiliate of Berkshire Hathaway, that provided the Company with a $400 million term loan and a $45 million revolving credit facility. The Company subsequently repaid approximately $98 million of principal on the term loan. The term loan was issued at a discount of 11.5% and was secured pari passu with the Company’s existing 11.75% senior secured notes due 2017. While the financing arrangement does not contain financial covenants, there are restrictions, in whole or in part, on certain activities including the incurrence of additional debt, repurchase of shares and the payment of dividends. The term loan may be repaid voluntarily prior to maturity, in whole or in part, at a price equal to 100% of the principal amount repaid plus accrued and unpaid interest, plus a premium, which starts at 14.5% and steps down over time beginning in May 2016, as set forth in the agreement. Other factors, such as the sale of assets, may result in a mandatory prepayment or an offer to prepay a portion of the term loan without premium or penalty. The Company considers the prepayment feature to be an embedded derivative which it bifurcates from the term loan when the fair value is determinable. The term loan and revolving credit facility mature in May 2020 and are guaranteed by the Company’s subsidiaries. The revolving credit facility bears interest at a rate of 10% and is subject to a 2% fee on the unused portion of the commitment. The Company also issued common stock warrants to purchase 4.6 million shares of common stock to Berkshire Hathaway in conjunction with the financing. The warrants were exercised subsequently.

On or before February 15, 2014, the 11.75% senior secured notes can be redeemed at a price equal to 100% of the outstanding principal, plus the present value of the semi-annual interest payment due February 15, 2014, plus a call premium of 5.875% of the outstanding principal.

The early repayment of debt in the third quarter of 2012 resulted in debt modification and extinguishment costs of $17.3 million due to the accelerated recognition of a pro rata portion of discounts and deferred issuance costs. In the second quarter of 2012, in conjunction with the secured financing with Berkshire Hathaway and the repayment of the previous credit facility the Company recorded debt modification and extinguishment costs of $7.7 million, primarily due to the write-off of unamortized fees related to the former credit agreement.  In addition, the Company capitalized $11.5 million of advisory and legal fees related to the Berkshire Hathaway financing; these fees are amortized as interest expense over the term of the financing arrangement.  In March of 2012, the Company amended its previous bank credit agreement which resulted in $10.4 million of debt modification and extinguishment costs including certain advisory, arrangement and legal fees related to that refinancing. 

The previous bank credit facility had an interest rate of LIBOR (with a 1.5% floor) plus a margin of 7% and commitment fees of 2.5%. In addition to this cash interest, the Company accrued payment-in-kind (PIK) interest of 1.5%. This PIK interest, which totaled approximately $1 million, was treated as additional bank term loan principal and was paid in cash upon repayment of the entire facility.

The following table includes information about the carrying values and estimated fair values of the Company’s financial instruments at September 30, 2013, and December 31, 2012:

	Sept. 30, 2013				December 31, 2012
(In thousands)	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Assets:
Investments
Trading	$	236	$	236	$	198	$	198
Liabilities:
Long-term debt:
Revolving credit facility ($15 million remaining availability at 9/30/13)		30,000		30,000		-		-
Term loan		261,934		345,260		257,466		343,746
11.75% senior secured notes		296,454		327,906		295,709		346,269

Trading securities held by the Supplemental 401(k) Plan are carried at fair value and are determined by reference to quoted market prices. The fair value of the revolving credit facility is equal to its carrying value as the Company has the ability to repay the outstanding principal at par value at any time. The fair value of the term loan was calculated assuming the outstanding principal will be repaid at the current call premium of 14.5%. The fair value of the 11.75% senior secured notes was valued by reference to the most recent trade prior to the end of the applicable period. Under the fair value hierarchy, the Company’s trading securities fall under Level 1 (quoted prices in active markets), its senior secured notes fall under Level 2 (other observable inputs) and its revolving credit facility and term loan fall under Level 3 (unobservable inputs).

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Note 11. Guarantor Financial Information (Details) - Condensed Consolidating Balance Sheets (Unaudited) (USD $) In Thousands, unless otherwise specified	Sep. 30, 2013	Dec. 31, 2012	Sep. 23, 2012	Dec. 25, 2011
Current assets:
Cash and cash equivalents	$ 15,415	$ 36,802	$ 28,450	$ 23,108
Accounts receivable - net	58,667	58,486
Other	18,798	18,493
Total current assets	92,880	114,451
Assets of discontinued operations		670
Other assets	50,563	45,462
Property, plant and equipment - net	160,353	166,105
FCC licenses and other intangibles - net	198,931	200,254
Excess cost over fair value of net identifiable assets of acquired businesses	247,149	247,149
TOTAL ASSETS	749,876	773,421
Current liabilities:
Accounts payable	11,920	11,669
Accrued expenses and other liabilities	44,200	64,362
Total current liabilities	56,120	76,498
Liabilities of discontinued operations		467
Long-term debt	296,459	295,721
Retirement, post-retirement and post-employment plans	232,650	242,309
Deferred income taxes	68,091	58,865
Other liabilities and deferred credits	21,811	18,786
Stockholders' equity (deficit):
Common stock	140,769	138,819
Additional paid-in capital	24,794	23,024
Accumulated other comprehensive loss	(215,884)	(219,656)
Retained earnings (accumulated deficit)	(166,868)	(118,411)
Total stockholders' equity (deficit)	(217,189)	(176,224)
TOTAL LIABILITIES & STOCKHOLDERS' EQUITY (DEFICIT)	749,876	773,421
Related Party [Member] | Media General Corporate [Member]
Current liabilities:
Long-term debt	291,934	257,466
Related Party [Member]
Current liabilities:
Long-term debt	291,934	257,466
Media General Corporate [Member]
Current assets:
Cash and cash equivalents	15,084	36,414	27,765	21,674
Other	4,026	6,562
Total current assets	19,110	42,976
Investment in and advances to subsidiaries	(18,960)	14,281
Intercompany note receivable	588,739	564,681
Other assets	44,725	38,469
Property, plant and equipment - net	19,088	19,647
TOTAL ASSETS	652,702	680,054
Current liabilities:
Accounts payable	8,531	7,488
Accrued expenses and other liabilities	21,390	36,155
Total current liabilities	29,921	43,643
Long-term debt	296,454	295,714
Retirement, post-retirement and post-employment plans	232,650	242,309
Other liabilities and deferred credits	18,383	15,567
Stockholders' equity (deficit):
Common stock	140,769	138,819
Additional paid-in capital	25,343	24,603
Accumulated other comprehensive loss	(215,884)	(219,656)
Retained earnings (accumulated deficit)	(166,868)	(118,411)
Total stockholders' equity (deficit)	(216,640)	(174,645)
TOTAL LIABILITIES & STOCKHOLDERS' EQUITY (DEFICIT)	652,702	680,054
Guarantor Subsidiaries [Member]
Current assets:
Cash and cash equivalents	331	388	685	1,434
Accounts receivable - net	58,667	58,486
Other	14,772	11,931
Total current assets	73,770	71,475
Assets of discontinued operations		670
Investment in and advances to subsidiaries	1,340,699	1,346,705
Other assets	5,602	6,795
Property, plant and equipment - net	141,265	146,458
FCC licenses and other intangibles - net	198,931	200,254
Excess cost over fair value of net identifiable assets of acquired businesses	247,149	247,149
TOTAL ASSETS	2,007,416	2,018,836
Current liabilities:
Accounts payable	3,389	4,181
Accrued expenses and other liabilities	22,810	28,207
Total current liabilities	26,199	32,855
Liabilities of discontinued operations		467
Long-term debt	5	7
Intercompany loan	588,739	564,681
Deferred income taxes	68,091	58,865
Other liabilities and deferred credits	2,747	2,442
Stockholders' equity (deficit):
Common stock	2,801	2,801
Additional paid-in capital	1,731,100	1,733,641
Retained earnings (accumulated deficit)	(412,266)	(376,456)
Total stockholders' equity (deficit)	1,321,635	1,359,986
TOTAL LIABILITIES & STOCKHOLDERS' EQUITY (DEFICIT)	2,007,416	2,018,836
Non-Guarantor Subsidiaries [Member]
Current assets:
Other assets	236	198
TOTAL ASSETS	236	198
Current liabilities:
Other liabilities and deferred credits	681	777
Stockholders' equity (deficit):
Additional paid-in capital	(965)	(1,977)
Retained earnings (accumulated deficit)	520	1,398
Total stockholders' equity (deficit)	(445)	(579)
TOTAL LIABILITIES & STOCKHOLDERS' EQUITY (DEFICIT)	236	198
Consolidation, Eliminations [Member]
Current assets:
Investment in and advances to subsidiaries	(1,321,739)	(1,360,986)
Intercompany note receivable	(588,739)	(564,681)
TOTAL ASSETS	(1,910,478)	(1,925,667)
Current liabilities:
Intercompany loan	(588,739)	(564,681)
Stockholders' equity (deficit):
Common stock	(2,801)	(2,801)
Additional paid-in capital	(1,730,684)	(1,733,243)
Retained earnings (accumulated deficit)	411,746	375,058
Total stockholders' equity (deficit)	(1,321,739)	(1,360,986)
TOTAL LIABILITIES & STOCKHOLDERS' EQUITY (DEFICIT)	$ (1,910,478)	$ (1,925,667)

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Note 3. Long-Term Debt and Other Financial Instruments (Details) - Carrying values and estimated fair values of the Company's financial instruments: (USD $) In Thousands, unless otherwise specified	Sep. 30, 2013	Dec. 31, 2012
Investments
Trading	$ 236	$ 198
Trading	236	198
Carrying amount	588,393	553,187
Term Loan [Member]
Investments
Carrying amount	261,934	257,466
Fair value	345,260	343,746
Senior Notes [Member]
Investments
Carrying amount	296,454	295,709
Fair value	327,906	346,269
Revolving Credit Facility [Member]
Investments
Revolving credit facility ($15 million remaining availability at 9/30/13)	$ 30,000

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Note 5. Related Party (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 23, 2012	Sep. 30, 2013	Sep. 23, 2012
Note 5. Related Party (Details) [Line Items]
Interest Paid			$ 60,586	$ 52,599
Payments Received From World Media For Transition Services [Member]
Note 5. Related Party (Details) [Line Items]
Related Party Transaction, Amounts of Transaction	350		1,600
Reimbursement of Medical Claims Paid on Behalf of World Media [Member]
Note 5. Related Party (Details) [Line Items]
Related Party Transaction, Amounts of Transaction	30	1,600	1,300	1,600
Services and Support Provided By World Media [Member]
Note 5. Related Party (Details) [Line Items]
Costs and Expenses, Related Party	10	230	150	230
Other Collections Passed Along to World Media [Member]
Note 5. Related Party (Details) [Line Items]
Related Party Transaction, Amounts of Transaction	100	70	600	70
Transition Services Provided To World Media [Member] | Other Current Assets [Member]
Note 5. Related Party (Details) [Line Items]
Due from Related Parties	200		200
Common Class A [Member] | Berkshire Hathaway [Member]
Note 5. Related Party (Details) [Line Items]
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners	17.00%		17.00%
Berkshire Hathaway [Member] | Accrued Expenses and Other Liabilities [Member]
Note 5. Related Party (Details) [Line Items]
Due to Related Parties	100		100
Berkshire Hathaway [Member]
Note 5. Related Party (Details) [Line Items]
Interest Paid	$ 8,800	$ 5,100	$ 25,000	$ 5,100

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Note 8. Employee Benefits (Details) - Components of net periodic benefit cost reclassified out of Accumulated Other Comprehensive Loss (USD $) In Thousands, unless otherwise specified	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 23, 2012	Sep. 30, 2013	Sep. 23, 2012
Components of net periodic benefit cost reclassified out of Accumulated Other Comprehensive Loss [Abstract]
Amortization of prior-service cost	$ 22		$ 68
Amortization of actuarial net loss	1,945		5,832
Total reclassifications	$ 1,967		$ 5,900

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Consolidated Condensed Balance Sheets (Unaudited) (Parentheticals) (USD $)	Sep. 30, 2013	Dec. 31, 2012
Preferred stock, par value (in Dollars per share)	$ 5	$ 5
Preferred stock, shares authorized (in Shares)	5,000,000	5,000,000
Preferred stock, shares outstanding (in Shares)	0	0
Common Class A [Member]
Common stock, shares authorized (in Shares)	75,000,000	75,000,000
Common stock, shares issued (in Shares)	27,605,235	27,215,117
Common stock, par value (in Dollars per share)	$ 5	$ 5
Common Class B [Member]
Common stock, shares authorized (in Shares)	600,000	600,000
Common stock, shares issued (in Shares)	548,564	548,564
Common stock, par value (in Dollars per share)	$ 5	$ 5

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Note 8. Employee Benefits

9 Months Ended

Sep. 30, 2013

Compensation and Retirement Disclosure [Abstract]

Pension and Other Postretirement Benefits Disclosure [Text Block]

8.     The following table provides the components of net periodic employee benefits expense for the Company’s benefit plans for the third quarters and first nine months of 2013 and 2012:

	Three Months Ended
	Pension Benefits						Other Benefits
(In thousands)	Sept. 30, 2013			Sept. 23, 2012			Sept. 30, 2013			Sept. 23, 2012
Service cost	$	-		$	-		$	27		$	50
Interest cost		4,736			5,290			221			445
Expected return on plan assets		(5,737	)		(5,926	)		-			-
Amortization of prior-service cost		-			-			22			315
Amortization of net loss/(gain)		2,155			1,412			(210	)		(205	)
Net periodic benefit cost	$	1,154		$	776		$	60		$	605

	Nine Months Ended
	Pension Benefits						Other Benefits
(In thousands)	Sept. 30, 2013			Sept. 23, 2012			Sept. 30, 2013			Sept. 23, 2012
Service cost	$	-		$	-		$	82		$	150
Interest cost		14,208			15,871			663			1,335
Expected return on plan assets		(17,212	)		(17,778	)		-			-
Amortization of prior-service cost		-			-			68			944
Amortization of net loss/(gain)		6,464			4,236			(632	)		(615	)
Net periodic benefit cost	$	3,460		$	2,329		$	181		$	1,814

Certain components of net periodic benefit cost were reclassified out of Accumulated Other Comprehensive Loss into operating costs for the three and nine months ended September 30, 2013, respectively, as shown below:

(In thousands)	Three Months Ended Sept. 30, 2013		Nine Months Ended Sept 30, 2013
Amortization of prior-service cost	$	22	$	68
Amortization of actuarial net loss		1,945		5,832
Total reclassifications	$	1,967	$	5,900

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Consolidated Condensed Statements of Comprehensive Income (Loss) (Unaudited) (USD $) In Thousands, unless otherwise specified	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 23, 2012	Sep. 30, 2013	Sep. 23, 2012
Net loss	$ (14,616)	$ (30,333)	$ (48,457)	$ (211,053)
Amortization of prior-service costs (postretirement plans)	22		68
Amortization of actuarial net loss (pension and postretirement plans)	1,945		5,832
Other comprehensive income before income taxes	1,967		5,900
Income tax expense related to other comprehensive income	767		2,128
Other comprehensive income, net of taxes	1,200		3,772
Comprehensive loss	$ (13,416)	$ (30,333)	$ (44,685)	$ (211,053)

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Consolidated Condensed Balance Sheets (Unaudited) (USD $) In Thousands, unless otherwise specified	Sep. 30, 2013	Dec. 31, 2012
Cash and cash equivalents	$ 15,415	$ 36,802
Accounts receivable - net	58,667	58,486
Other	18,798	18,493
Assets of discontinued operations		670
Total current assets	92,880	114,451
Other assets	50,563	45,462
Property, plant and equipment - net	160,353	166,105
FCC licenses and other intangibles - net	198,931	200,254
Excess of cost over fair value of net identifiable assets of acquired businesses	247,149	247,149
Total assets	749,876	773,421
Accounts payable	11,920	11,669
Accrued expenses and other liabilities	44,200	64,362
Liabilities of discontinued operations		467
Total current liabilities	56,120	76,498
Long-term debt	296,459	295,721
Retirement, post-retirement and post-employment plans	232,650	242,309
Deferred income taxes	68,091	58,865
Other liabilities and deferred credits	21,811	18,786
Stockholders' deficit:
Preferred stock, par value $5 per share, authorized 5,000,000 shares; none outstanding
Common stock, par value $5 per share:
Common stock, issued value	140,769	138,819
Additional paid-in capital	24,794	23,024
Accumulated other comprehensive loss	(215,884)	(219,656)
Accumulated deficit	(166,868)	(118,411)
Total stockholders' deficit	(217,189)	(176,224)
Total liabilities and stockholders' deficit	749,876	773,421
Related Party [Member]
Long-term debt	291,934	257,466
Common Class A [Member]
Common stock, par value $5 per share:
Common stock, issued value	138,026	136,076
Common Class B [Member]
Common stock, par value $5 per share:
Common stock, issued value	$ 2,743	$ 2,743

XML

Note 3. Long-Term Debt and Other Financial Instruments (Details) - Carrying values and estimated fair values of the Company's financial instruments: (Parentheticals) (USD $) In Millions, unless otherwise specified	Sep. 30, 2013	Dec. 31, 2012
Senior Notes [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest rate on senior notes	11.75%	11.75%
Revolving Credit Facility [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Revolving credit facility, available (in Dollars)	$ 15
Revolving credit facility, available (in Dollars)	$ 15

XML

Note 11. Guarantor Financial Information (Tables)

9 Months Ended

Sep. 30, 2013

Disclosure Text Block Supplement [Abstract]

Condensed Balance Sheet [Table Text Block]

	Media General Corporate			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Media General Consolidated
ASSETS
Current assets:
Cash and cash equivalents	$	15,084		$	331		$	-		$	-		$	15,415
Accounts receivable - net		-			58,667			-			-			58,667
Other		4,026			14,772			-			-			18,798
Total current assets		19,110			73,770			-			-			92,880
Investment in and advances to subsidiaries		(18,960	)		1,340,699			-			(1,321,739	)		-
Intercompany note receivable		588,739			-			-			(588,739	)		-
Other assets		44,725			5,602			236			-			50,563
Property, plant and equipment - net		19,088			141,265			-			-			160,353
FCC licenses and other intangibles - net		-			198,931			-			-			198,931
Excess cost over fair value of net identifiable assets of acquired businesses		-			247,149			-			-			247,149
TOTAL ASSETS	$	652,702		$	2,007,416		$	236		$	(1,910,478	)	$	749,876
LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)
Current liabilities:
Accounts payable	$	8,531		$	3,389		$	-		$	-		$	11,920
Accrued expenses and other liabilities		21,390			22,810			-			-			44,200
Total current liabilities		29,921			26,199			-			-			56,120
Long-term debt		296,454			5			-			-			296,459
Long-term debt - related party		291,934			-			-			-			291,934
Intercompany loan		-			588,739			-			(588,739	)		-
Retirement, post-retirement and post-employment plans		232,650			-			-			-			232,650
Deferred income taxes		-			68,091			-			-			68,091
Other liabilities and deferred credits		18,383			2,747			681			-			21,811
Stockholders' equity (deficit):
Common stock		140,769			2,801			-			(2,801	)		140,769
Additional paid-in capital		25,343			1,731,100			(965	)		(1,730,684	)		24,794
Accumulated other comprehensive loss		(215,884	)		-			-			-			(215,884	)
Retained earnings (accumulated deficit)		(166,868	)		(412,266	)		520			411,746			(166,868	)
Total stockholders' equity (deficit)		(216,640	)		1,321,635			(445	)		(1,321,739	)		(217,189	)
TOTAL LIABILITIES & STOCKHOLDERS' EQUITY (DEFICIT)	$	652,702		$	2,007,416		$	236		$	(1,910,478	)	$	749,876

	Media General Corporate			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Media General Consolidated
ASSETS
Current assets:
Cash and cash equivalents	$	36,414		$	388		$	-		$	-		$	36,802
Accounts receivable - net		-			58,486			-			-			58,486
Other		6,562			11,931			-			-			18,493
Assets of discontinued operations		-			670			-			-			670
Total current assets		42,976			71,475			-			-			114,451
Investment in and advances to subsidiaries		14,281			1,346,705			-			(1,360,986	)		-
Intercompany note receivable		564,681			-			-			(564,681	)		-
Other assets		38,469			6,795			198			-			45,462
Property, plant and equipment - net		19,647			146,458			-			-			166,105
FCC licenses and other intangibles - net		-			200,254			-			-			200,254
Excess of cost over fair value of net identifiable assets of acquired businesses		-			247,149			-			-			247,149
TOTAL ASSETS	$	680,054		$	2,018,836		$	198		$	(1,925,667	)	$	773,421
LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)
Current liabilities:
Accounts payable	$	7,488		$	4,181		$	-		$	-		$	11,669
Accrued expenses and other liabilities		36,155			28,207			-			-			64,362
Liabilities of discontinued operations		-			467			-			-			467
Total current liabilities		43,643			32,855			-			-			76,498
Long-term debt		295,714			7			-			-			295,721
Long-term debt - related party		257,466			-									257,466
Intercompany loan		-			564,681			-			(564,681	)		-
Retirement, post-retirement and post-employment plans		242,309			-			-			-			242,309
Deferred income taxes		-			58,865			-			-			58,865
Other liabilities and deferred credits		15,567			2,442			777			-			18,786
Stockholders' equity (deficit):
Common stock		138,819			2,801			-			(2,801	)		138,819
Additional paid-in capital		24,603			1,733,641			(1,977	)		(1,733,243	)		23,024
Accumulated other comprehensive loss		(219,656	)		-			-			-			(219,656	)
Retained earnings (accumulated deficit)		(118,411	)		(376,456	)		1,398			375,058			(118,411	)
Total stockholders' equity (deficit)		(174,645	)		1,359,986			(579	)		(1,360,986	)		(176,224	)
TOTAL LIABILITIES & STOCKHOLDERS' EQUITY (DEFICIT)	$	680,054		$	2,018,836		$	198		$	(1,925,667	)	$	773,421

Condensed Income Statement [Table Text Block]

	Media General Corporate			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Media General Consolidated
Station revenue (less agency commissions)	$	6,414		$	78,489		$	-		$	(6,414	)	$	78,489
Operating costs:
Station production expenses		-			31,973			-			-			31,973
Station selling, general, and administrative expenses		-			29,714			-			(6,414	)		23,300
Corporate and other expenses		7,735			-			98			-			7,833
Depreciation and software amortization		450			5,066			-			-			5,516
Amortization of intangible assets		-			441			-			-			441
Net loss (gain) related to fixed assets		(22	)		32			-			-			10
Merger-related expenses		1,218			-			-			-			1,218
Total operating costs		9,381			67,226			98			(6,414	)		70,291
Operating income (loss)		(2,967	)		11,263			(98	)		-			8,198
Other income (expense):
Interest expense		(9,939	)		(21	)		-			-			(9,960	)
Interest expense - related party		(10,379	)		-			-			-			(10,379	)
Intercompany interest income (expense)		20,637			(20,637	)		-			-			-
Investment income (loss) - consolidated affiliates		(12,010	)		-			-			12,010			-
Other, net		42			-			-			-			42
Total other income (expense)		(11,649	)		(20,658	)		-			12,010			(20,297	)
Income (loss) before income taxes		(14,616	)		(9,395	)		(98	)		12,010			(12,099	)
Income tax expense		-			2,517			-			-			2,517
Net income (loss)	$	(14,616	)	$	(11,912	)	$	(98	)	$	12,010		$	(14,616	)
Comprehensive income (loss)	$	(13,416	)	$	(11,912	)	$	(98	)	$	12,010		$	(13,416	)

	Media General Corporate			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Media General Consolidated
Station revenue (less agency commissions)	$	7,622		$	93,789		$	-		$	(7,659	)	$	93,752
Operating costs:
Station production expenses		-			31,459			-			(1	)		31,458
Station selling, general, and administrative expenses		-			29,126			-			(7,621	)		21,505
Corporate and other expenses		11,662			285			146			-			12,093
Depreciation and software amortization		564			4,969			-			-			5,533
Amortization of intangible assets		-			442			-			-			442
(Gain) loss on disposal of assets, net		(120	)		338			-			-			218
Total operating costs		12,106			66,619			146			(7,622	)		71,249
Operating income (loss)		(4,484	)		27,170			(146	)		(37	)		22,503
Other income (expense):
Interest expense		(9,480	)		(17	)		-			-			(9,497	)
Interest expense - related party		(10,723	)		-			-			-			(10,723	)
Debt modification and extinguishment costs		(17,318	)		-			-			-			(17,318	)
Intercompany interest income (expense)		21,699			(21,699	)		-			-			-
Investment income (loss) - consolidated affiliates		(10,057	)		-			-			10,057			-
Other, net		30			10			-			-			40
Total other income (expense)		(25,849	)		(21,706	)		-			10,057			(37,498	)
Income (loss) from continuing operations before income taxes		(30,333	)		5,464			(146	)		10,020			(14,995	)
Income tax expense		-			3,406			-			-			3,406
Income (loss) from continuing operations		(30,333	)		2,058			(146	)		10,020			(18,401	)
Discontinued operations (net of tax):
Income (loss) from discontinued operations		-			(1,075	)		-			37			(1,038	)
Loss related to divestiture of discontinued operations		-			(10,894	)		-			-			(10,894	)
Net income (loss)	$	(30,333	)	$	(9,911	)	$	(146	)	$	10,057		$	(30,333	)
Comprehensive income (loss)	$	(30,333	)	$	(9,911	)	$	(146	)	$	10,057		$	(30,333	)

	Media General Corporate			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Media General Consolidated
Station revenue (less agency commissions)	$	18,402		$	234,448		$	-		$	(18,402	)	$	234,448
Operating costs:
Station production expenses		-			95,388			-			-			95,388
Station selling, general, and administrative expenses		-			87,457			-			(18,402	)		69,055
Corporate and other expenses		23,743			-			878			-			24,621
Depreciation and software amortization		1,331			15,342			-			-			16,673
Amortization of intangible assets		-			1,323			-			-			1,323
Net loss (gain) related to fixed assets		(95	)		173			-			-			78
Merger-related expenses		8,389			-			-			-			8,389
Total operating costs		33,368			199,683			878			(18,402	)		215,527
Operating income (loss)		(14,966	)		34,765			(878	)		-			18,921
Other income (expense):
Interest expense		(28,721	)		(60	)		-			-			(28,781	)
Interest expense - related party		(30,297	)		-			-			-			(30,297	)
Intercompany interest income (expense)		62,103			(62,103	)		-			-			-
Investment income (loss) - consolidated affiliates		(36,688	)		-			-			36,688			-
Other, net		112			(244	)		-			-			(132	)
Total other income (expense)		(33,491	)		(62,407	)		-			36,688			(59,210	)
Income (loss) from continuing operations before income taxes		(48,457	)		(27,642	)		(878	)		36,688			(40,289	)
Income tax expense		-			7,725			-			-			7,725
Income (loss) from continuing operations		(48,457	)		(35,367	)		(878	)		36,688			(48,014	)
Discontinued operations (net of tax):
Loss from discontinued operations		-			(413	)		-			-			(413	)
Loss related to divestiture of operations		-			(30	)		-			-			(30	)
Net income (loss)	$	(48,457	)	$	(35,810	)	$	(878	)	$	36,688		$	(48,457	)
Comprehensive income (loss)	$	(44,685	)	$	(35,810	)	$	(878	)	$	36,688		$	(44,685	)

	Media General Corporate			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Media General Consolidated
Station revenue (less agency commissions)	$	23,443		$	251,559		$	-		$	(23,938	)	$	251,064
Operating costs:
Station production expenses		-			92,832			-			(473	)		92,359
Station selling, general, and administrative expenses		-			86,959			-			(23,486	)		63,473
Corporate and other expenses		29,847			1,646			111			-			31,604
Depreciation and software amortization		2,062			15,062			-			-			17,124
Amorization of intangible assets		-			2,196			-			-			2,196
(Gain) loss on disposal of assets, net		(613	)		581			-			-			(32	)
Total operating costs		31,296			199,276			111			(23,959	)		206,724
Operating income (loss)		(7,853	)		52,283			(111	)		21			44,340
Other income (expense):
Interest expense		(41,362	)		(48	)		-			-			(41,410	)
Interest expense - related party		(15,618	)		-			-			-			(15,618	)
Debt modification and extinguishment costs		(35,415	)		-			-			-			(35,415	)
Intercompany interest income (expense)		57,270			(57,270	)		-			-			-
Investment income (loss) - consolidated affiliates		(168,572	)		-			-			168,572			-
Other, net		497			(45	)		-			-			452
Total other income (expense)		(203,200	)		(57,363	)		-			168,572			(91,991	)
Income (loss) from continuing operations before income taxes		(211,053	)		(5,080	)		(111	)		168,593			(47,651	)
Income tax expense		-			10,223			-			-			10,223
Income (loss) from continuing operations		(211,053	)		(15,303	)		(111	)		168,593			(57,874	)
Discontinued operations (net of tax):
Loss from discontinued operations		-			(10,567	)		-			(21	)		(10,588	)
Loss related to divestiture of discontinued operations		-			(142,591	)		-			-			(142,591	)
Net income (loss)	$	(211,053	)	$	(168,461	)	$	(111	)	$	168,572		$	(211,053	)
Comprehensive income (loss)	$	(211,053	)	$	(168,461	)	$	(111	)	$	168,572		$	(211,053	)

Condensed Cash Flow Statement [Table Text Block]

	Media General Corporate			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Media General Consolidated
Cash flows from operating activities:
Net cash used by operating activities	$	(13,579	)	$	(13,233	)	$	(1,011	)	$	-		$	(27,823	)
Cash flows from investing activities:
Capital expenditures		(795	)		(10,993	)		-			-			(11,788	)
Collateral refund related to letters of credit		1,366			-			-			-			1,366
Net change in intercompany note receivable		(24,058	)		-			-			24,058			-
Other, net		(181	)		113			-			-			(68	)
Net cash (used) provided by investing activities		(23,668	)		(10,880	)		-			24,058			(10,490	)
Cash flows from financing activities:
Increase in related party borrowings		40,000			-			-			-			40,000
Repayment of related party borrrowings		(10,000	)		-			-			-			(10,000	)
Debt issuance costs		(16,243	)		-			-			-			(16,243	)
Net change in intercompany loan		-			24,058			-			(24,058	)		-
Other, net		2,160			(2	)		1,011			-			3,169
Net cash provided (used) by financing activities		15,917			24,056			1,011			(24,058	)		16,926
Net decrease in cash and cash equivalents		(21,330	)		(57	)		-			-			(21,387	)
Cash and cash equivalents at beginning of year		36,414			388			-			-			36,802
Cash and cash equivalents at end of period	$	15,084		$	331		$	-		$	-		$	15,415

	Media General Corporate			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Media General Consolidated
Cash flows from operating activities:
Net cash (used) provided by operating activities	$	(99,462	)	$	117,937		$	(40	)	$	-		$	18,435
Cash flows from investing activities:
Capital expenditures		(1,604	)		(5,659	)		-			-			(7,263	)
Collateral deposit related to letters of credit		(10,271	)		-			-			-			(10,271	)
Net change in intercompany note receivable		114,110			-			-			(114,110	)		-
Proceeds from dispositions		139,902			-			-			-			139,902
Other, net		894			1,092			-			-			1,986
Net cash (used) provided by investing activities		243,031			(4,567	)		-			(114,110	)		124,354
Cash flows from financing activities:
Increase in borrowings		13,000			-			-			-			13,000
Increase in related party borrowings		382,500			-			-			-			382,500
Repayment of borrowings		(377,298	)		-			-			-			(377,298	)
Repayment of related party borrowings		(126,963	)		-			-			-			(126,963	)
Debt issuance costs		(28,772	)		-			-			-			(28,772	)
Net change in intercompany loan		-			(114,110	)		-			114,110			-
Other, net		55			(9	)		40			-			86
Net cash (used) provided by financing activities		(137,478	)		(114,119	)		40			114,110			(137,447	)
Net increase (decrease) in cash and cash equivalents		6,091			(749	)		-			-			5,342
Cash and cash equivalents at beginning of year		21,674			1,434			-			-			23,108
Cash and cash equivalents at end of period	$	27,765		$	685		$	-		$	-		$	28,450

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Note 10. Severance Expense (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 23, 2012	Sep. 30, 2013	Sep. 23, 2012
Restructuring and Related Activities [Abstract]
Severance Costs	$ 100	$ 3,400	$ 100	$ 3,500
Restructuring and Related Cost, Number of Positions Eliminated				75

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Note 7. Earnings Per Share (Details) - Basic and Diluted Earnings Per Share (USD $) In Thousands, except Per Share data, unless otherwise specified	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 23, 2012	Sep. 30, 2013	Sep. 23, 2012
Numerator for basic and diluted earnings per share:
Loss from continuing operations available to common stockholders (in Dollars)	$ (14,616)	$ (18,401)	$ (48,014)	$ (57,874)
Denominator for basic and diluted earnings per share:
Weighted average shares outstanding	27,762	22,593	27,570	22,570
Loss from continuing operations per common share (basic and diluted) (in Dollars per share)	$ (0.53)	$ (0.81)	$ (1.74)	$ (2.56)

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Note 8. Employee Benefits (Details) - Components of net periodic employee benefits expense: (USD $) In Thousands, unless otherwise specified	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 23, 2012	Sep. 30, 2013	Sep. 23, 2012
Pension Plan, Defined Benefit [Member]
Note 8. Employee Benefits (Details) - Components of net periodic employee benefits expense: [Line Items]
Interest cost	$ 4,736	$ 5,290	$ 14,208	$ 15,871
Expected return on plan assets	(5,737)	(5,926)	(17,212)	(17,778)
Amortization of net loss/(gain)	2,155	1,412	6,464	4,236
Net periodic benefit cost	1,154	776	3,460	2,329
Other Postretirement Benefit Plan, Defined Benefit [Member]
Note 8. Employee Benefits (Details) - Components of net periodic employee benefits expense: [Line Items]
Service cost	27	50	82	150
Interest cost	221	445	663	1,335
Amortization of prior-service cost	22	315	68	944
Amortization of net loss/(gain)	(210)	(205)	(632)	(615)
Net periodic benefit cost	$ 60	$ 605	$ 181	$ 1,814

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Note 7. Earnings Per Share

9 Months Ended

Sep. 30, 2013

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

7.     The following table sets forth the computation of basic and diluted loss per share for continuing operations for the three and nine months ended September 30, 2013, and September 23, 2012. There were approximately 400 thousand shares and approximately 200 thousand shares (representing the weighted-average of outstanding stock options) that were not included in the computation of diluted EPS for the third quarter and first nine months of 2013, respectively, because to do so would have been anti-dilutive for the periods presented. There were approximately 4.6 million shares and 2.1 million shares (representing the weighted-average of common stock warrants issued to Berkshire Hathaway prior to their exercise) that were not included in the computation of diluted EPS for the third quarter and first nine months of 2012, respectively, because to do so would have been anti-dilutive for the periods presented.

(In thousands, except per share amounts)	Three Months Ended Sept. 30, 2013			Three Months Ended Sept. 23, 2012
Numerator for basic and diluted earnings per share:
Loss from continuing operations available to common stockholders	$	(14,616	)	$	(18,401	)
Denominator for basic and diluted earnings per share:
Weighted average shares outstanding		27,762			22,593
Loss from continuing operations per common share (basic and diluted)	$	(0.53	)	$	(0.81	)

(In thousands, except per share amounts)	Nine Months Ended Sept. 30, 2013			Nine Months Ended Sept. 23, 2012
Numerator for basic and diluted earnings per share:
Loss from continuing operations available to common stockholders	$	(48,014	)	$	(57,874	)
Denominator for basic and diluted earnings per share:
Weighted average shares outstanding		27,570			22,570
Loss from continuing operations per common share (basic and diluted)	$	(1.74	)	$	(2.56	)

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Note 4. Summary of Disposition (Details) (USD $)	3 Months Ended	9 Months Ended			3 Months Ended	12 Months Ended	3 Months Ended	9 Months Ended	12 Months Ended				9 Months Ended
	Sep. 23, 2012	Sep. 30, 2013	Sep. 23, 2012	Dec. 31, 2012	Mar. 31, 2013 Blockdot [Member]	Dec. 31, 2012 Blockdot [Member]	Sep. 23, 2012 DealTaker.com [Member]	Sep. 23, 2012 DealTaker.com [Member]	Dec. 31, 2012 DealTaker.com [Member]	Dec. 31, 2012 Newspapers (except Tampa group) [Member]	Dec. 31, 2012 Tampa Print Properties [Member]	Dec. 31, 2012 Accounts Payable and Accrued Expenses [Member]	Sep. 30, 2013 Property Subject to Operating Lease [Member]
Note 4. Summary of Disposition (Details) [Line Items]
Discontinued Operation, Provision for Loss (Gain) on Disposal, Net of Tax						$ 2,500,000
Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax	(10,894,000)	(30,000)	(142,591,000)		(30,000)	(2,400,000)	(11,000,000)	(143,000,000)	(3,900,000)	(112,000,000)	(24,000,000)
Assets of Disposal Group, Including Discontinued Operation				670,000
Liabilities of Disposal Group, Including Discontinued Operation				467,000								467,000
Discontinued Operation, Income (Loss) from Discontinued Operation During Phase-out Period, Net of Tax	(1,038,000)	(413,000)	(10,588,000)										(100,000)
Goodwill and Intangible Asset Impairment			6,472,000					6,500,000
Goodwill and Intangible Asset Impairment, Tax Benefit								$ 3,600,000

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Note 11. Guarantor Financial Information (Details) - Condensed Consolidating Statements of Operations and Comprehensive Loss (Unaudited) (USD $) In Thousands, unless otherwise specified	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 23, 2012	Sep. 30, 2013	Sep. 23, 2012
Condensed Income Statements, Captions [Line Items]
Station revenue (less agency commissions)	$ 78,489	$ 93,752	$ 234,448	$ 251,064
Operating costs:
Station production expenses	31,973	31,458	95,388	92,359
Station selling, general, and administrative expenses	23,300	21,505	69,055	63,473
Corporate and other expenses	7,833	12,093	24,621	31,604
Depreciation and software amortization	5,516	5,533	16,673	17,124
Amortization of intangible assets	441	442	1,323	2,196
(Gain) loss on disposal of assets, net	10	218	78	(32)
Merger-related expenses	1,218		8,389
Total operating costs	70,291	71,249	215,527	206,724
Operating income (loss)	8,198	22,503	18,921	44,340
Other income (expense):
Interest expense	(9,960)	(9,497)	(28,781)	(41,410)
Interest expense - related party	(10,379)	(10,723)	(30,297)	(15,618)
Debt modification and extinguishment costs		(17,318)		(35,415)
Other, net	42	40	(132)	452
Total other income (expense)	(20,297)	(37,498)	(59,210)	(91,991)
Income (loss) from continuing operations before income taxes	(12,099)	(14,995)	(40,289)	(47,651)
Income tax expense (benefit)	2,517	3,406	7,725	10,223
Income (loss) from continuing operations	(14,616)	(18,401)	(48,014)	(57,874)
Discontinued operations (net of tax):
Income (loss) from discontinued operations		(1,038)	(413)	(10,588)
Loss related to divestiture of operations		(10,894)	(30)	(142,591)
Net income (loss)	(14,616)	(30,333)	(48,457)	(211,053)
Comprehensive income (loss)	(13,416)	(30,333)	(44,685)	(211,053)
Media General Corporate [Member]
Condensed Income Statements, Captions [Line Items]
Station revenue (less agency commissions)	6,414	7,622	18,402	23,443
Operating costs:
Corporate and other expenses	7,735	11,662	23,743	29,847
Depreciation and software amortization	450	564	1,331	2,062
(Gain) loss on disposal of assets, net	(22)	(120)	(95)	(613)
Merger-related expenses	1,218		8,389
Total operating costs	9,381	12,106	33,368	31,296
Operating income (loss)	(2,967)	(4,484)	(14,966)	(7,853)
Other income (expense):
Interest expense	(9,939)	(9,480)	(28,721)	(41,362)
Interest expense - related party	(10,379)	(10,723)	(30,297)	(15,618)
Debt modification and extinguishment costs		(17,318)		(35,415)
Intercompany interest income (expense)	20,637	21,699	62,103	57,270
Investment income (loss) - consolidated affiliates	(12,010)	(10,057)	(36,688)	(168,572)
Other, net	42	30	112	497
Total other income (expense)	(11,649)	(25,849)	(33,491)	(203,200)
Income (loss) from continuing operations before income taxes	(14,616)	(30,333)	(48,457)	(211,053)
Income (loss) from continuing operations		(30,333)	(48,457)	(211,053)
Discontinued operations (net of tax):
Net income (loss)	(14,616)	(30,333)	(48,457)	(211,053)
Comprehensive income (loss)	(13,416)	(30,333)	(44,685)	(211,053)
Guarantor Subsidiaries [Member]
Condensed Income Statements, Captions [Line Items]
Station revenue (less agency commissions)	78,489	93,789	234,448	251,559
Operating costs:
Station production expenses	31,973	31,459	95,388	92,832
Station selling, general, and administrative expenses	29,714	29,126	87,457	86,959
Corporate and other expenses		285		1,646
Depreciation and software amortization	5,066	4,969	15,342	15,062
Amortization of intangible assets	441	442	1,323	2,196
(Gain) loss on disposal of assets, net	32	338	173	581
Total operating costs	67,226	66,619	199,683	199,276
Operating income (loss)	11,263	27,170	34,765	52,283
Other income (expense):
Interest expense	(21)	(17)	(60)	(48)
Intercompany interest income (expense)	(20,637)	(21,699)	(62,103)	(57,270)
Other, net		10	(244)	(45)
Total other income (expense)	(20,658)	(21,706)	(62,407)	(57,363)
Income (loss) from continuing operations before income taxes	(9,395)	5,464	(27,642)	(5,080)
Income tax expense (benefit)	2,517	3,406	7,725	10,223
Income (loss) from continuing operations		2,058	(35,367)	(15,303)
Discontinued operations (net of tax):
Income (loss) from discontinued operations		(1,075)	(413)	(10,567)
Loss related to divestiture of operations		(10,894)	(30)	(142,591)
Net income (loss)	(11,912)	(9,911)	(35,810)	(168,461)
Comprehensive income (loss)	(11,912)	(9,911)	(35,810)	(168,461)
Non-Guarantor Subsidiaries [Member]
Operating costs:
Corporate and other expenses	98	146	878	111
Total operating costs	98	146	878	111
Operating income (loss)	(98)	(146)	(878)	(111)
Other income (expense):
Income (loss) from continuing operations before income taxes	(98)	(146)	(878)	(111)
Income (loss) from continuing operations		(146)	(878)	(111)
Discontinued operations (net of tax):
Net income (loss)	(98)	(146)	(878)	(111)
Comprehensive income (loss)	(98)	(146)	(878)	(111)
Consolidation, Eliminations [Member]
Condensed Income Statements, Captions [Line Items]
Station revenue (less agency commissions)	(6,414)	(7,659)	(18,402)	(23,938)
Operating costs:
Station production expenses		(1)		(473)
Station selling, general, and administrative expenses	(6,414)	(7,621)	(18,402)	(23,486)
Total operating costs	(6,414)	(7,622)	(18,402)	(23,959)
Operating income (loss)		(37)		21
Other income (expense):
Investment income (loss) - consolidated affiliates	12,010	10,057	36,688	168,572
Total other income (expense)	12,010	10,057	36,688	168,572
Income (loss) from continuing operations before income taxes	12,010	10,020	36,688	168,593
Income (loss) from continuing operations		10,020	36,688	168,593
Discontinued operations (net of tax):
Income (loss) from discontinued operations		37		(21)
Net income (loss)	12,010	10,057	36,688	168,572
Comprehensive income (loss)	$ 12,010	$ 10,057	$ 36,688	$ 168,572

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Note 10. Severance Expense

9 Months Ended

Sep. 30, 2013

Restructuring and Related Activities [Abstract]

Restructuring and Related Activities Disclosure [Text Block]

10.     The Company accrues severance expense when payment of benefits is both probable and the amount is reasonably estimable. The Company recorded severance expense from continuing operations of $100 thousand in the third quarter and first nine months of 2013, as compared to $3.4 million and $3.5 million in the third quarter and first nine months of 2012, respectively. The majority of the severance expense incurred in 2012 was due to a corporate reduction-in-force of 75 positions that occurred in July and was recorded in the “Corporate expense and other” line on the Consolidated Condensed Statements of Operations. Severance costs related to television stations are reflected in either the “Station production expense” or the “Station selling, general and administrative expense” line items depending on the position eliminated. Accrued severance costs are included in the “Accrued expenses and other liabilities” line item on the Consolidated Condensed Balance Sheet.

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Note 6. Income Tax

7 Months Ended

Sep. 30, 2013

Income Tax Disclosure [Abstract]

Income Tax Disclosure [Text Block]

6.     The Company recorded non-cash income tax expense from continuing operations of $2.5 million and $7.7 million in the third quarter and first nine months of 2013, respectively, compared to $3.4 million and $10.2 million in the equivalent quarter and nine months of 2012, respectively. The Company’s tax provision for each period had an unusual relationship to pretax loss mainly because of the existence of a full deferred tax asset valuation allowance at the beginning of each period. This circumstance generally results in a zero net tax provision since the income tax expense or benefit that otherwise would be recognized is offset by the change to the valuation allowance.  However, tax expense recorded in the third quarter and first nine months of 2013 included the accrual of non-cash tax expense of approximately $3.3 million and $9.8 million, respectively, of additional valuation allowance in connection with the tax amortization of the Company’s indefinite-lived intangible assets that was not available to offset existing deferred tax assets (termed a “naked credit”), as compared to approximately $3.4 million and $10.2 million, respectively, in the corresponding 2012 periods. The “naked credit” expense was partially offset in the third quarter and first nine months of 2013 by approximately $0.8 million and $2.1 million, respectively, of tax benefit related to the intraperiod allocation items in Other Comprehensive Income. A full discussion of the naked credit issue is contained in Note 4 of Item 8 of the Company’s Form 10-K for the year ended December 31, 2012.

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Note 1. Basis of Presentation

9 Months Ended

Sep. 30, 2013

Disclosure Text Block [Abstract]

Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]

1.     The accompanying unaudited consolidated condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States and with applicable quarterly reporting regulations of the Securities and Exchange Commission. They do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements and, accordingly, should be read in conjunction with the consolidated financial statements and related footnotes included in the Company's Annual Report on Form 10-K for the year ended December 31, 2012.

Beginning with the full-year 2013, Media General's fiscal year is a conventional calendar year (January 1 – December 31). Previously, the Company's fiscal year ended on the last Sunday in December. Results for 2013 are for the three and nine calendar months ended September 30, 2013. Results for 2012 are for the thirteen and thirty-nine week periods ended September 23, 2012.

As explained further below, the Company has presented all newspapers, its former Advertising Services businesses and its Production Services company as discontinued operations for all periods presented. In the opinion of management, all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation of interim financial information have been included.   

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Note 6. Income Tax (Details) (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 23, 2012	Sep. 30, 2013	Sep. 23, 2012
Note 6. Income Tax (Details) [Line Items]
Income Tax Expense (Benefit)	$ 2,517,000	$ 3,406,000	$ 7,725,000	$ 10,223,000
Deferred Income Tax Expense (Benefit)	3,300,000	3,400,000	9,800,000	10,200,000
Income Tax Expense (Benefit), Intraperiod Tax Allocation			(2,128,000)
Impact from "Naked Credit" [Member]
Note 6. Income Tax (Details) [Line Items]
Income Tax Expense (Benefit), Intraperiod Tax Allocation	$ 800,000		$ 2,100,000

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Note 4. Summary of Disposition (Tables)

9 Months Ended

Sep. 30, 2013

Disclosure Text Block Supplement [Abstract]

Schedule of Disposal Groups, Including Discontinued Operations, Income Statement, Balance Sheet and Additional Disclosures [Table Text Block]

	Loss from Discontinued Operations
	Three Months  Ended		Three Months Ended			Nine Months Ended			Nine Months Ended
(In thousands)	Sept. 30, 2013		Sept. 23, 2012			Sept. 30, 2013			Sept. 23, 2012
Revenues	$	-	$	18,491		$	110		$	169,805
Costs and expenses		-		19,527			523			179,205
Loss before income taxes		-		(1,036	)		(413	)		(9,400	)
Income tax expense		-		2			-			1,188
Loss from discontinued operations	$	-	$	(1,038	)	$	(413	)	$	(10,588	)

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Note 9. Stockholders' Equity

9 Months Ended

Sep. 30, 2013

Stockholders' Equity Note [Abstract]

Stockholders' Equity Note Disclosure [Text Block]

9.     The following table shows the Company’s Statement of Stockholders’ Deficit as of and for the nine months ended September 30, 2013:

	Class A			Common Stock					Additional Paid-in		Accumulated Other Comprehensive			Accumulated
(In thousands, except shares and per share amounts)	Shares			Class A			Class B		Capital		Loss			Deficit			Total
Balance at December 31, 2012		27,215,117		$	136,076		$	2,743	$	23,024	$	(219,656	)	$	(118,411	)	$	(176,224	)
Net loss					-			-		-		-			(48,457	)		(48,457	)
Other comprehensive income, net of taxes					-			-		-		3,772			-			3,772
Exercise of stock options		432,112			2,161			-		2		-			-			2,163
Performance accelerated restricted stock		(42,143	)		(211	)		-		30		-			-			(181	)
Stock-based compensation					-			-		723		-			-			723
Other		149			-			-		1,015		-			-			1,015
Balance at September 30, 2013		27,605,235		$	138,026		$	2,743	$	24,794	$	(215,884	)	$	(166,868	)	$	(217,189	)

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Note 9. Stockholders' Equity (Tables)

9 Months Ended

Sep. 30, 2013

Stockholders' Equity Note [Abstract]

Schedule of Stockholders Equity [Table Text Block]

	Class A			Common Stock					Additional Paid-in		Accumulated Other Comprehensive			Accumulated
(In thousands, except shares and per share amounts)	Shares			Class A			Class B		Capital		Loss			Deficit			Total
Balance at December 31, 2012		27,215,117		$	136,076		$	2,743	$	23,024	$	(219,656	)	$	(118,411	)	$	(176,224	)
Net loss					-			-		-		-			(48,457	)		(48,457	)
Other comprehensive income, net of taxes					-			-		-		3,772			-			3,772
Exercise of stock options		432,112			2,161			-		2		-			-			2,163
Performance accelerated restricted stock		(42,143	)		(211	)		-		30		-			-			(181	)
Stock-based compensation					-			-		723		-			-			723
Other		149			-			-		1,015		-			-			1,015
Balance at September 30, 2013		27,605,235		$	138,026		$	2,743	$	24,794	$	(215,884	)	$	(166,868	)	$	(217,189	)

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Note 7. Earnings Per Share (Tables)

9 Months Ended

Sep. 30, 2013

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]

(In thousands, except per share amounts)	Three Months Ended Sept. 30, 2013			Three Months Ended Sept. 23, 2012
Numerator for basic and diluted earnings per share:
Loss from continuing operations available to common stockholders	$	(14,616	)	$	(18,401	)
Denominator for basic and diluted earnings per share:
Weighted average shares outstanding		27,762			22,593
Loss from continuing operations per common share (basic and diluted)	$	(0.53	)	$	(0.81	)

(In thousands, except per share amounts)	Nine Months Ended Sept. 30, 2013			Nine Months Ended Sept. 23, 2012
Numerator for basic and diluted earnings per share:
Loss from continuing operations available to common stockholders	$	(48,014	)	$	(57,874	)
Denominator for basic and diluted earnings per share:
Weighted average shares outstanding		27,570			22,570
Loss from continuing operations per common share (basic and diluted)	$	(1.74	)	$	(2.56	)

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Document And Entity Information	9 Months Ended
	Sep. 30, 2013	Oct. 31, 2013 Common Class A [Member]	Oct. 31, 2013 Common Class B [Member]
Document Information [Line Items]
Entity Registrant Name	MEDIA GENERAL INC
Document Type	10-Q
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding		27,632,216	548,564
Amendment Flag	false
Entity Central Index Key	0000216539
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Accelerated Filer
Entity Well-known Seasoned Issuer	No
Document Period End Date	Sep. 30, 2013
Document Fiscal Year Focus	2013
Document Fiscal Period Focus	Q3

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Note 8. Employee Benefits (Tables)

9 Months Ended

Sep. 30, 2013

Compensation and Retirement Disclosure [Abstract]

Schedule of Net Benefit Costs [Table Text Block]

	Three Months Ended
	Pension Benefits						Other Benefits
(In thousands)	Sept. 30, 2013			Sept. 23, 2012			Sept. 30, 2013			Sept. 23, 2012
Service cost	$	-		$	-		$	27		$	50
Interest cost		4,736			5,290			221			445
Expected return on plan assets		(5,737	)		(5,926	)		-			-
Amortization of prior-service cost		-			-			22			315
Amortization of net loss/(gain)		2,155			1,412			(210	)		(205	)
Net periodic benefit cost	$	1,154		$	776		$	60		$	605

	Nine Months Ended
	Pension Benefits						Other Benefits
(In thousands)	Sept. 30, 2013			Sept. 23, 2012			Sept. 30, 2013			Sept. 23, 2012
Service cost	$	-		$	-		$	82		$	150
Interest cost		14,208			15,871			663			1,335
Expected return on plan assets		(17,212	)		(17,778	)		-			-
Amortization of prior-service cost		-			-			68			944
Amortization of net loss/(gain)		6,464			4,236			(632	)		(615	)
Net periodic benefit cost	$	3,460		$	2,329		$	181		$	1,814

Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]

(In thousands)	Three Months Ended Sept. 30, 2013		Nine Months Ended Sept 30, 2013
Amortization of prior-service cost	$	22	$	68
Amortization of actuarial net loss		1,945		5,832
Total reclassifications	$	1,967	$	5,900