Media General Reports Dip in Q2 Revenue

By Andrew Gauthier Comment

Media General, which announced in June that it would be requiring employees to take 15 furlough days by the end of the year, this week reported a dip in second quarter revenue.

The company, which owns 18 stations across the country including WFLA in Tampa and WJAR in Providence, announced that $70.35 million in broadcast revenue for the second quarter, down nearly 3% from the same period last year.

Media General blames the decrease in revenue on a decrease in political advertising. In a news release, president and CEO Marshall Morton pointed out that, if one excludes political advertising in both yeas, broadcast revenues actually increased 6.6%.

“Our television stations did an excellent job of replacing a large portion of last year’s Political revenues,” Morton said, adding that he expects stations to see a boost in political, as well as automotive, advertising during the second half of the year.