Media General Expects to Beat Wall Street Revenue Estimates in Q2
Media General (MEG), the Virginia-based publisher of 21 daily newspapers and operator of 18 local TV network affiliates, yesterday announced that it expects second-quarter revenue of $167.1 million, slightly above the consensus Wall Street estimate of $166 million. However, the company also said that operating costs would increase between 3% and 4% this quarter.
The expected top-line figure represents 2% growth compared with revenue in the second quarter of 2009. The growth will come largely from a 14% year-over-year bump in ad revenue from the company’s TV stations.
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