Media General Reports Slight Dip in First Quarter

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By Andrew Gauthier Comment

Media General, which operates 18 stations focused mainly in southeastern markets, announced today that first quarter TV revenue had dropped 2.6% compared to the same period last year.

In its earnings report, Media General pointed to the same factors that Gannett mentioned in its first quarter announcement earlier this week: the absence of the Olympics on NBC-affiliates and the Super Bowl on CBS-affiliates caused a dip in revenue compared to 2010.

“We were pleased that our Broadcast television stations continued their strong performance,” said Marshall Morton, Media General’s president in CEO, putting a positive spin on things. “Total Broadcast revenues decreased $1.8 million, or 2.6 percent, from last year, despite the absence of $7.6 million in Olympics revenues and nearly $1 million in Super Bowl revenues.”

The company also reported that its local media websites experienced a strong gain in revenue, pulling in 20% more than the previous year.