Media General Narrows Loss
Media General reported a net loss of $10.6 million today for its third quarter of 2010, a much smaller amount than its Q3 2009, $62 million loss.
In fact, if it weren’t for interest expense, which nearly doubled this quarter, the company might have reported a modest profit. Revenues were up slightly to $163 million while costs were down.
Broadcast revenues, thanks to political advertising, were up $12 million while publishing revenues fell $7 million. Ad revenues at Media General’s papers were down across the board as were circulation revenues, while all digital revenue made double-digit gains.
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